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31 Jan - 03 Feb 2023

Pandemic causes signage market to slip RISE Spotlight: Digital Signage – New Solutions for a New Era

Sean Wargo

As retail is such a key sector for digital signage, it’s no surprise that it’s been hit hard by the downturn, explained Sean Wargo, Senior Director of Market Intelligence at AVIXA, as he shared the association’s latest research. Digital signage solution revenue showed a 10% decline in 2020 and, although there are improvements on the cards for 2021, forecasts suggest that numbers won’t rise above the 2019 peak of $34.9 billion in global revenues until 2022.

In terms of solution revenue rankings, this means digital signage solutions have slipped to third behind conferencing & collaboration and learning. As global economies recover and as signage regains its strength on the back of its core markets, however, the expectation is that it will come back up to second in the rankings with an expected value of $42.7 billion in 2025.

North America continues to be the strongest region in terms of revenue share, but a rise in prominence of China and the Asia-Pacific region looks on the cards. China, for example, is expected to have a CAGR of 8.6% between 2020 and 2025, meaning it will become the single largest country market by the end of the forecast period.

It should be noted, however, that digital signage is a complex solution area and, perhaps unexpectedly, it isn’t dominated by displays. AVIXA analysis highlights that it’s the back-end systems that power a lot of signage revenues. Some $12.5 billion of revenue went to these streaming media, storage and distribution categories in 2020, compared with $9.8 billion to displays.

In terms of opportunities, content is key. Displays need to be fed relevant, engaging content so there’s a growing opportunity in the provider community for creation, distribution, management and associated services.

Watch the full AVIXA Insights session here

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