Digital Signage Market to More Than Double: Forecast

Spending on digital signage is poised to increase from $17.77 billion last year to $41.55 billion by 2031, an annual growth rate of 11.2%. That’s according to a new market analysis released by SkyQuest Technology.

While such screens are widely used in public spaces like transportation networks, museums and restaurants, retail is one of the markets with the biggest potential for future growth, the report says.

“Today retailers are using digital signage to improve shopping experience, resulting in the augmentation of sales,” the document states. “They have started making immense investments in the infrastructure of retail stores to gain advantages from digitalization. With the increasing use of digital signage retailers can also offer theme-based digitally improved experience stores, personalized offering and other innovative services.

The forecast also notes that advanced display technologies, including microLED displays and OLED displays, are becoming more popular in retail and other sectors that use digital display products.

Click here for more from the SkyQuest report.