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Today, we embark on a thrilling journey to explore the imminent trends shaping the landscape of the digital signage industry in 2024.
Market Insights: Numbers that Paint a Picture
To set the stage, let's kick things off with a glance at some key industry figures. Projections indicate that the digital signage market is on track to hit 35 billion USD by 2028, marking a CAGR of 8.4% from 2023's 23 billion USD. Geographically, North America leads the pack with a 40% market share, closely followed by Europe at 26% and Asia-Pacific at 20%. Other regions collectively contribute less than 15%. Vertical markets, including retail, hospitality, QSR, corporate, and advertising, command a formidable 80% of the market.
Trend 1 Visual Revolution: Advanced Display Solutions
In the digital signage field, 2024 promises a visual revolution driven by advanced display solutions. Picture quality takes center stage, with a shift from outdated Direct LED backlighting to superior OLED and QD OLED screens. The commonplace 4K resolution is giving way to the immersive 8K and even 16K, particularly crucial for the soaring popularity of large screens. The landscape is also evolving with a surge in 3D digital billboards and transparent screens, offering novel opportunities in advertising and merchandising.
Trend 2 Control Evolution: SoC Display Solutions
Witness the ever-accelerating global transition to System-on-chip (SoC) display solutions. This innovative shift allows seamless screen control without external hardware, translating to cost reduction and heightened system security. The user experience elevates to new heights as the reliance on external components diminishes. Screens equipped with SoC capabilities respond more swiftly and seamlessly, ensuring a fluid interaction that captivates audiences. This operational synergy opens doors to creative possibilities, allowing content creators and businesses to explore engaging and immersive digital experiences without being encumbered by external dependencies.
Trend 3 Engaging Experiences: Interactive Screens
By 2024, interactive screens will be prevalent due to technological advancements and increased usage in various applications. From kiosks and self-service checkouts to wayfinding displays in shopping malls and city streets, interactive whiteboards in education, and control displays in manufacturing, these screens are becoming integral to our daily lives.
Trend 4 Cloud-Based Digital Signage: Beyond USB Sticks
Bid farewell to the era of USB sticks as the digital signage realm experiences a revolution with the explosive growth of cloud-based solutions. This shift is transforming the industry, providing users with simplicity, security, affordability, and the ability to control screens from anywhere, at any time. Notably, statistics from 2023 reveal that 60% of the world's corporate data is already stored in the cloud.
Trend 5 AI, AR, and IoT Integration
A few years ago, it was evident that the integration of AI, AR, and IoT technologies would be the next big thing for digital signage. Fast forward to 2024, and we're witnessing a substantial leap in AI development, offering unprecedented opportunities in facial and voice recognition as well as automated content creation. Meanwhile, IoT infrastructure with sensors and beacons maximizes message personalization, dramatically enhancing its effectiveness.
Trend 6 Immersive Experiences: Technology Meets Creativity
Enter the realm of creative installations using large-format and high-resolution screens. Often implemented in Digital Out of Home, trade shows, events, and museums, these projects leverage stunning 3D and AR technologies to provide unforgettable immersive experiences. Brace yourself for rapid development in this space over the coming years, with technologies becoming more affordable.
Trend 7 Sustainability Focus: A Green Revolution
Amidst the technological surge, a separate trend commands attention—the industry's growing focus on sustainability. Cutting-edge display models now incorporate energy-efficient materials, consuming less power and generating less heat, thereby reducing their environmental impact. The future will witness an even greater surge in popularity for eco-friendly initiatives, as they are undeniably becoming more and more popular.
A Glimpse into 2024 and Beyond
While this blog post doesn't cover every trend for 2024, we've painted a vivid picture of the industry's evolution. Marked by advanced display solutions, interactive experiences, cloud-based revolutions, and sustainability focus, the digital signage landscape is evolving at an unprecedented pace. The fusion of technology and creativity unlocks new possibilities and promising immersive experiences that will shape the way we interact with digital displays. Stay tuned for more updates, and keep exploring the future!
