In this article, we will briefly touch upon what the future holds for Digital Signage technology, which is rapidly developing and becoming widespread not only in large companies but also in small and medium-sized enterprises.
With an estimated market size of $24.86 billion in 2022 and expected to grow at a compound annual growth rate of 8.0% from 2023 to 2030, the highly adaptable nature of Digital Signage technology is enabling a wide range of industries to invest in it.
One of the most important reasons for this is that with the development of "Smart Digital Signage", operational processes in content management can be managed remotely and easily. Traditionally, Digital Signage was updated via a memory card or USB drive, making it difficult for brands to update content in real time. A cloud-based system eliminates the time and cost issues associated with this now almost primitive practice.
The latest trends in digital signage technology include interactive displays, targeted and personalized content, data-driven marketing, the use of artificial intelligence, and the integration of augmented and virtual reality elements.
Features such as sensors and personalized content allow valuable data from physical stores to be measured just like online data, which is crucial for a deeper understanding of customer behavior. This not only allows brands to create a more informed marketing strategy, but also directly drives profit by increasing in-store sales opportunities.
With Digital Signage expected to become widespread in the near future, the use of interactive displays also allows users to have a more personalized and streamlined experience. We are already seeing examples in the food and retail sector, touchscreen menus and self-checkout are just a few examples and have been around for some time.
The future of Digital Signage is changing and evolving rapidly.
Brands around the world continue to explore and implement Digital Signage technology as one of the most cost-effective ways to enhance the user experience. Given the fact that we live in a data-driven world, the advantages of smart Digital Signage systems are undeniable.
With an estimated value of $45.3 billion by 2030, this rapid growth and increased interest in Digital Signage is unlikely to stop anytime soon and we at Octopus are excited to be a part of it.
