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Digital Signage Market to More Than Double: Forecast

Retailers expected to be major driver in tech’s growth

Published

6 months ago

July 25, 2024

VMSD Staff

Digital Signage Market to More Than Double: Forecast — Interactive digital screens can help shoppers make their buying decisions.

Interactive digital screens can help shoppers make their buying decisions.

Interactive digital screens can help shoppers make their buying decisions. PHOTO: ISTOCKPHOTO

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.

VMSD Staff

Drawing on more than 125 years of history serving the retail design market, VMSD magazine provides retail professionals with the most up-to-date, innovative retail design ideas and industry news through its industry-leading magazine, website, social media channels and bulletins.

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