Market Trends of Digital Signage Industry
This section covers the major market trends shaping the Digital Signage Market according to our research experts:
OLED Display is Expected to Experience Healthy Growth
- OLED is the only technology that overcomes the limitations of conventional displays, as it offers enhanced reality combined with a dynamic form. OLED provides superior light and color expression based on self-emitting light sources. Its flexibility and transparency are the results of developing innovative OLED materials.
- For instance, in April 2022, LG Business Solutions launched and installed a video "Wave Wall" with multiple curved OLED displays to form a high-definition surface at the AVI-SPL office in Dallas. The video wall features a 65-inch LG interactive digital signage board that provides wayfinding information.
- As OLED displays lack the backlight, they function exceptionally well in contrast (essentially offering an 'infinite' contrast ratio). OLED displays feature an accurate black background, something LCDs can not match. The application of OLED in digital signage for indoor branding and experiential media is increasing rapidly, driven by energy-efficient, lightweight, and superior media presentation. Furthermore, LG Business Solutions recently launched 55EW5TF, a vivid, transparent OLED display with cutting-edge touchscreen technology. This display uses projected capacitive (P-Cap) film technology for a highly responsive, accurate touch experience that simultaneously supports up to 10 touch points. Further, the OLED technology enables the display to achieve transparency of 33% even with the P-Cap touch film. It has a slimmer structure without needing a backlight unit or liquid crystal layer.
- For instance, in April 2022, Motorola Moto G52 was launched in India as the company's latest smartphone. The Motorola Moto G52 has an OLED display that supports a 90Hz refresh rate. Furthermore, in August 2022, LG intends to launch a 20-inch OLED panel at the end of this year, which would be its shortest OLED screen yet. Such developments may further drive market growth.
- Furthermore, transparent OLED (T-OLED) is a self-lighting OLED technology that creates four times more transparent screens. It maintains the infinite contrast and perfect colors of OLED technology for a stunning image overlay. T-OLED offers 38% transparency, whereas the highest clarity that has been achieved with LCD is 10%. When viewed head-on, objects behind the screen integrate with the content, and the front-facing UV protection makes the display ideal for store windows that catch the attention of passers-by.
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Asia Pacific is Expected to Hold the Largest Market Share
- North America dominates the global signage market over the forecasted duration, owing to the existence of significant vendors in the US region and also due to early adoption and advancement in technology. Furthermore, the advances in display technology are also likely to drive the market.
- Further, digital signage is taking over printed signage owing to security and cost profits. It allows visualization of safety procedures, a vital component in developing smart hotels and related industries, and it is anticipated to augment market demand during the forecast period. For instance, in Mar 2022, Xpodigital, Orlando, United States, the full-service convention internet and display technology partner for hospitality and events professionals, moved vital management positions to Las Vegas as the first step in becoming the city's first choice for fully-managed conference internet and digital signage solutions.
- Further, digital signage in hotels makes the delivery of the messaging much more interactive with the help of visually appealing ads that modernizes hotel lobbies, restaurants, and hallways and contributes to an upscale ambiance. Furthermore, the interactive wayfinding maps feature of digital signage help to enhance the guest experience by providing a self-service source of information. In March 2022, PPDS, a supplier of Philips TVs and digital signage products, announced that it is bringing the Apple TV app to its Philips MediaSuiteHospitality TVs in hotels.
- Large stadiums are often rented out for other events during the off-season, such as concerts, conferences, or promotional events, sponsored by big businesses. A stadium with engaging digital video displays supports these functions and makes the venue more valuable to sponsors, which may further drive market growth.
- Moreover, in March 2022. Quantela Inc. and leading boutique outdoor advertising company Liquid Outdoor jointly announced a new partnership to create a complete digital signage solution to expand Liquid's lifestyle network. Quantela will supply total program management and the technology platform to monitor and manage data captured across the US lifestyle portfolio. Through outcomes and with support from crucial investor Digital Alpha, Quantela will additionally provide the initial USD 15 million capital required for the project and further expansion opportunities.
- Furthermore, the software providers are also engaged in providing a standard for customized solutions compatible with multiple operating systems to new entrants in the industry. There is an increased focus on cloud-based design solutions owing to the increasing demand for customized solutions. In February 2022, Samsung unveiled the Infinity Screen, a brand new, center-hung video board at Sofi Stadium in Los Angeles, California. This is the giant video board ever created for sports. The infinity board incorporates a display on dual sides with a one-of-a-kind design. Each LED panel can be uniquely or congruently programmed with statistics and live and animated content.
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