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Digital Signage Industry Trends and Statistics

Our digital signage market report looks at the stats and trends relating to the global digital signage market.

February  2024

ScreenCloud Post

Note: There haven't been many new studies in digital signage since this article was first written March 2019. But we've added emerging studies and statistics within the retail, hospitality and corporate communications sectors, as well as looking at the emergence of AI.

The digital signage industry has been growing steadily since the late 1990's, and is now a ubiquitous sight across both public and private sector spaces. From airports, hotels and retail stores, to corporate offices and healthcare centers, digital signage content has been embraced with gusto.

In 2022, the global digital signage market was valued at $24.86 billion. And the forecast looks good for growth, with studies suggesting an 8% compound annual growth rate bringing the estimated value to around $40 billion by 2030.

And as new technologies and uses emerge, not least AI, the market growth of the digital signage industry continues it's steep upward trajectory.

And why not? Digital signage is both highly engaging and a cost effective medium to convey a wide range of messages. And in fact, its versatility means that the demand for digital signage is only going to increase as more businesses realize the benefits of using digital displays.

Digital signage is also incredibly simple to setup. Which is game-changing for companies who were once reliant on specialist hardware and complicated content management systems. Now, with any media player like an Amazon Fire TV Stick, you can easily turn any screen into a visual noticeboard or promotional screen.

Read our guide: What is digital signage?

Of course, you're here because you're interested in the world of digital signage market trends, and you're looking for the facts. So let's get to it...

The global adoption of digital signage has been steady. However several markets such as Europe and Asia Pacific are expected to contribute to a larger chunk of the digital signage market size in coming years as they catch up with the North American market.

And while North America is expected to continue to grow, other markets such Europe, Asia Pacific and more developing countries are expected to start to adopt the technology.

Europe is the fastest growing, with the digital signage market forecast to grow by an annual growth rate of 17.3%.

However, key players across LATAM, Africa and the Middle East are expected to boost growth by around 11.29% CGAR.

And when we consider the adoption of technology as part of the high cost projects we're seeing across countries such as Saudi and the other Gulf States, it looks like electronic displays may even see an exceptional uptake as part of this local regional outlook.

Individual industries and markets are also expected to contribute to market growth, as increasing demand and the competitive nature of the brick and mortar retail sector fuel adoption of digital signage.

Retail

1. Over 40% of shoppers say that digital displays can change what they buy because relevant information is served close to the point of purchase.

This makes sense, as savvy shoppers we expect more from our shopping experience. The physical product is great, but information to support and serve close to where we’re shopping? That’s even better.

2. 44% of shoppers admit to social media increasing purchasing decisions.

Social media is a huge part of the retail experience and it suits digital signage down to the ground! It’s why we have so many awesome social media apps and dashboards in our App Store.

3. 8/10 customers have entered a store because of digital signage catching their interest.

That’s much higher than a static display or shop window design. We’re programmed to react and respond to digital visuals and retailers are choosing digital signage for its high-impact, low-cost approach.

4. Retail is the fastest growing area for digital signage networks.

Retail is often ahead when it comes to embracing digital technologies. Burberry was one of the first global retail brands to embrace social media. Now they’re one of the first retail stores to embrace digital signage.

Their flagship London store features mirrors that double as video wall digital signage displays, staff armed with iPads and even RFID-enabled screens that trigger related catwalk footage when products are taken into a fitting room, or near a screen.

digital signage is an increasing presence in retail stores

5. Digital signage solutions offer a cohesive brand experience between a businesses digital and physical presence, especially in the retail industry.

Customers that engage with companies through a variety of channels drive three times the volume of sales.

Multiple touch points with your audience are of huge benefit when it comes to the storing and retaining of information. As well as the importance of giving a great first impression, digital signage also serves as a channel that can drive sales, awareness and brand love within the competitive high street retail sector.

6. 81% of Gen-Z shoppers prefer to visit brick and mortar stores for their retail therapy.

As digital natives, Gen-Z and Milennials prefer in-store shopping, but are likely to engage with display technology within retail stores.

For retail sector brands looking to engage an elusive, younger audience, in-store experiences could be the way forward.

Given that millennials don't watch TV, prefer YouTube ads to traditional advertising methods and are heavily influenced by the internet (47% say it's the one thing they "can't live without") finding new ways to share information with them is key.

Advertising

7. US digital ad spend is expected to continue growing year-on-year. Between 2023 to 2027, the average spend is expected to grow by 50%.

8. Digital media in public venues reaches more customers than videos on the internet or Facebook.

According to a 2010 study by Arbitron, digital signs reach a huge number of Americans and are better remembered than advertising shown through other digital sources. 

9. 68% agreed that digital advertising would influence their decision to buy advertised products in the future.

Helping customers to think more positively about products not only affects their current experience but their future ones too.

10. 71 percent of people said they felt advertising on digital billboards stood out more than online ads, and 46 percent said they were more prominent than even television ads.

Not only that, but the participants were also impressed with digital signage and felt it was a cool way to share and learn information. In an age of online ad-blockers this could be a case for turning away from the handheld devices and onto the larger screens all around us.

11. Digital signage has a recall rate of 83%.

12. 20% of people will read the text on a page, but 80% of people will watch a video.

This shows the power of leading with video and digital campaigns to engage audiences.

13. A 23% increase in brand awareness is observed when full motion digital out of home advertising (DOOH) is added to social media ad campaigns.

"Multi-channel" marketing and campaigns which reach consumers across multiple mediums is going to be a big trend for 2019, in helping brands to cut through the noise and get noticed.

14. LED advertising signs pull in 1000 impressions for a mere $0.15, making it the most cost-effective form of advertising, according to the Small Business Association,

Hospitality

15. A guest’s impression of a hotel is formed in the first 10 minutes of arrival.

Walking into a hotel is often a cause of joy - an escape from the real world and a chance to relax and unwind. Digital signage is one of the easiest ways to invest once and then serve a variety of important welcome messages, useful information and entertainment to guests within that crucial 10 minutes.

16. Digital media helps minimize wait time — or at least helps customers perceive that their wait is shorter.

Not only does digital signage lead to a better experience but it can also help the visitor experience to run more smoothly. In 2012, when Hurricane Sandy hit New York, many hotels that had digital signage used it to keep guests updated as events unfolded. In times of need, this is critical for providing emergency updates and information on the areas affected.

display technology is increasingly adopted in corporate buildings

17. 55% of travelers indicated they would be more likely to visit a hotel that offered self check-in kiosks.

Education

18. 73% of educational institutions see digital signage as crucial for the future of communication.

Many of the schools and universities we talk to are excited about the possibility of digital signage to serve their students more relevant information. From world news and information that supports lesson plans to social media feeds that keeps students up to date with the latest classes.

digital signage solutions are becoming more popular in education

19. 65% of school children use a smartphone and 47% use a tablet on a daily basis.

This may come as no surprise to you but children are interacting with technology every day. Channeling this in the right way, through interesting, relevant digital displays gives schools a chance to tap into the trend.

20. 96% of students say that video increases the learning experience.

Video is one of the easiest forms of media to add to digital signage displays - and most of us have some video knocking around already that we can use.

21. Applying technology to education helps students to reduce stress (45%), improve confidence (46%) and efficiency (57%), while also helping students to better prepare for class (67%).

Need a reason to incorporate digital signage displays into your school or college? You just got it.

Corporate Communication

22. Good internal communication drives 25% higher employee productivity.

We all want our workers to be more productive but good internal comms can slip by the wayside when we get busy with other stuff. Digital screens are a quick and easy way to keep everyone in the office informed of what’s going on, without clogging up the inbox.

digital signage is seeing steady growth across all industries

23. 56% of internal communication teams are considering increasing the use of digital signage within their organization.

24. Digital Signage has a 47.7% effectiveness for brand awareness.

In all the work we do to entice customers to love our brand we often forget about our staff members! Digital signage helps to thread your company mission throughout your office, arguably the most important place of all.

Restaurants

25. 74% of customers say an easy to read menu is an important part of the experience.

Because digital signs can be updated so easily, menus never have to go out of date and you can play around with font size and displays until you get the optimal setup.

Don’t underestimate the significance of this either, 7-Eleven convenience stores in Denmark saw sales of coffee rise by 30% when advertised on their digital signs.  

26. 80% of adults have seen digital signage in the past month and 70% subsequently made an unplanned purchase.

Digital signage can make your restaurant more awesome. Not only does it help customers get over the hangries more quickly, it also helps them to make better decisions and more quickly.

the digital signage market is heavily used in retail and hospitality

27. 29.5% of customers find digital menus influential for purchase of products.

This is backed by real life uses too. Just take Prime Burger, a fast-food chain that sits in one of the UK’s biggest trade show centers. They increased sales by 50% like-for-like by replacing their static signs for digital ones.

Tradeshows

28. 93% of consumers find user generated content (UGC) to be helpful when making a purchasing decision.

At trade shows, while surrounded by competitors, you often have just minutes to make an impression and persuade your buyer to move into the customer area.

User-generated content such as social media, social proof or testimonials could help them to get there much faster - and digital signage is the easiest way to showcase this!

29. 1 in 4 event professionals already use tablets for registration and 60% of event planners rank on-site technology as important as a good internet connection.

Tradeshow attendees love good technology and are well-versed in using it. Digital signage can double up for both informational and transactional purposes - for half of the cost of registration staff, expensive systems and masses of printed collateral.

video walls and digital signage are perfect for trade shows and conferences

30. 58% of US marketers use social media to engage their target audience during timely events as part of their real-time marketing engagement strategy. 

Digital signage is a powerful way to use social media within any type of environment and bring it into the present moment. 

31. Event technology can help increase event attendance by 20%, increase productivity 27%, and decrease costs 20-30%. 

That’s a whole lot of proof that digital signage at your tradeshow or event is worth the investment.

32. Video walls have become one of the biggest growth areas in the digital signage market, with their adoption growing by 16% since the end of COVID, and forecast to grow by a CAGR of 11%. (source)

Healthcare

33. According to surveys, 75 percent of those viewing a digital sign in hospital could recall at least one message.

That’s a super high amount and could be put to use in order to help patients recall better healthcare information and advice for self-treatment and support.  

34. Digital signage can cut perceived wait time by up to 35 percent in a healthcare setting.

In a hospital situation, wait times only add to stress and anxiety. Using digital technology to reduce this, will help patients to have a better long-term experience. 

digital signage solutions are well tailored to healthcare

35. Using distraction in clinical environments has been shown to reduce perceptions of pain, lower anxiety and stress and benefit clinicians.

As we mentioned in a recent article for TechCrunch, research shows that digital screens benefit healthcare. This effect will become more widespread with the adoption of digital signage rollouts within healthcare environments.

36. 83% of patients spend a significant amount of time interacting with a hospital’s digital content.

37. 78% of patients actively seek out digital health solutions when they are available.

This rise in adoption hints towards healthcare patients who want to use SMS services, apps and even wearables to connect with their doctor and healthcare center more easily.

38. 7/10 hospitals now provide digital messaging systems.

39. Digital signage reduces workplace injury by 20%.

This is relevant to all industries but particularly one where a fall or accident from a healthcare professional could affect not just themselves but also those around them.

Gym & spa

40. Digital signs keep customers in your establishment longer.

When it comes to the gym, keeping customers for longer not only helps boost sales and community but it also allows them to become healthier and more active. A win-win all round!

41. Studying while moderately exercising may help individuals retain information better.

Studies have shown multiple times that learning and exercise pair together nicely. Digital screens are a smart way to help students, professionals and general go-getters to learn more while they work out by providing relevant and useful information through affordable digital screens. 

42. Social media motivates people to exercise.

The gym and the spa are often a great place for a digital detox, ever noticed how rarely you get signal in those places? But used in the right context, social media is also a huge motivator. This ties into the idea of using great user generated content in order to cement your audience with both their exercise regime and other likeminded individuals. 

The rise of AI in digital signage

43. A study by McKinsey found that 71% of consumers expected brands to personalize interactions. Those brands that do embrace personalization in their marketing see up to 40% more revenue compared to those that don't.

This is one area where the impact of AI is expected to be felt within the digital signage market in the coming years. Being able to adapt and manage the personalization of messaging, especially in the context of advertising and marketing, is expected to be a game changer within the coming decade.

44. Experts expect to see more interactivity in the digital signage market within the coming years. This will likely be driven by emerging technology such as AI as well as underused technology such as augmented reality (AR), facial recognition and motion interaction.

While we see interactive kiosks are a thing in some industries, expect to see more of these embraced by a broader range of industries as AI becomes a bigger part of digital signage solutions.

To summarize

The global digital signage market is growing rapidly, with adoption across various industries from hospitality or retail to corporate adoption expected to continue to climb in coming years.

And while the improvements in technology allow for lower energy consumption and more cost effective installation of digitized signs and displays, we think this will lead to increasing demand and adoption, not to mention consistent upgrading as advanced technologies become available.

Looking at setting up your own digital signage systems? ScreenCloud are the industry leader in consumer friendly digital signage.

From in-store digital posters, to video walls for events or as an eye-catching feature in the office, getting started with ScreenCloud couldn't be simpler.

For help setting up an easy-to-use, affordable digital signage system start a 14-day free trial of ScreenCloud here.

Or request a demo to find out how digital signage can work for you!

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