The digital signage industry is poised for significant growth, with a projected Compound Annual Growth Rate (CAGR) of 11.6 percent from 2021 to 2026. As we delve into the heart of this forecasted period, several key factors are propelling this expansion, including increased commercial applications, ongoing technological advancements, and a burgeoning interest in higher resolution formats such as 4K and 8K.
A recent interview with Deacon Wardlow, the continuous improvement manager at Vantage LED in Ontario, California, sheds light on the trajectory of the digital signage market in 2023, particularly in the realm of communities and urban landscapes.
Education Emerges as a Key Driver:
Wardlow stresses the pivotal role of education alongside marketing efforts in shaping the digital signage landscape. While marketing serves to generate demand, a lack of education can lead to misinformed decisions and potential problems. Notably, Wardlow highlights a trend towards tighter pixel pitch, emphasizing the need to consider factors such as average viewing distance and content relevance when determining the optimal pixel pitch for a display.
Balancing Art and Business:
The evolving landscape of digital signage transcends mere commercial utility, with Wardlow advocating for a balance between aesthetic expression and commercial objectives. He underscores the potential for digital signage to serve as both art and a business tool, enabling organizations to engage with their audience while effectively conveying their brand message.
Technological Advancements Drive Innovation:
Wardlow discusses the transition from traditional LED displays to newer technologies such as Surface Mount Diodes (SMD) and Chip on Board (COB), with a projected shift towards laser and other digital options in the long term. As technology continues to evolve, Wardlow emphasizes the importance of considering manufacturing quality, materials, and long-term support to ensure customer satisfaction and longevity.
Navigating Market Adoption Amid Economic Challenges:
Despite potential economic headwinds, Wardlow expresses confidence in the resilience of the digital signage industry. He foresees businesses increasingly integrating digital signage into their operations to differentiate themselves and effectively communicate with their target audience. Trends such as personalized content and the integration of digital signage into convenience stores and quick-service restaurants are expected to gain traction in 2023.
In conclusion, Wardlow’s insights underscore the multifaceted nature of the digital signage market, where education, adoption, and technological innovation intersect to shape its trajectory. As businesses navigate the complexities of the digital signage landscape, understanding these trends will be paramount in harnessing the full potential of this dynamic industry in 2023 and beyond.
