Digital signage device market may set new growth story

Digital signage display in a mall. Image credit: AdobeStock

Digital signage device market may set new growth story

The modern spur and surge in digital signs was prompted by the 2020 pandemic and subsequent lock downs. Suddenly, digital signs were being used for everything, from public health notifications to telling when they may enter a store after another person leaves.

Digital signage device market may set new growth story

Digital signage display in a mall. Image credit: AdobeStock

Yet, when a product usually becomes popular, it is followed by more market attention. This includes software and hardware release and advances to help serve the market. However, in this case, that is not what happened…not yet at least.

Hardware and Software Advances

Here is how the story goes. A product becomes popular and more money starts pouring into the companies that work in that particular area. New companies come in, bigger companies expand into the area, and the money being taken in is used to create new advancements, to improve product ranges and so forth. 

In the case of software, that is exactly what happened. Companies like Kitcast digital signage software saw massive profits and started investing them into new innovations in software dynamics, integration, security and efficiency. However, the hardware companies were slow (if not immovable) in their response. The reasons for this are pretty varied.

The Late Hardware Response

In terms of digital signs themselves, they are already pretty well made and pretty efficient. All companies could really do is add optional extras or make them a little stronger and/or cheaper. In order to affect a real change, they would need to make a big innovation in screen technology as a whole, which is something that takes years to do. 

In terms of the device market, there are three reasons why they were slow to respond. The first is because there are already things like the Apple TV boxes and Amazon Fire sticks, etc.,. that are able to offer ideal streaming and such for digital signs. The second reason is that hardware typically takes longer to design, refit and push to market, and some hardware manufacturers may have been waiting to see if the digital sign craze was a flash in the pan. 

Finally, the third reason why the hardware response was so slow is because of the microchip shortage that was caused by the pandemic. Things were already looking pretty bad because the cryptocurrency, PC, console, and automobile market were consuming far more computing chips than supply could cope with. Then, after the massive supply line interruption caused by the 2020 – 2021 pandemic lock downs., it was even harder to get hold of the computer chips needed to make devices for digital signs.

Digital Signage Device Market May Set New Growth Story

The limitations laid out above are slowly disappearing, and yet the demand for digital signs and their associated hardware is still booming. This is because, not only are digital signs becoming a common sight in modern businesses, but they also help to make companies very future proof. The truth is that as human populations increase, so do the chances of further pandemics. In addition, people are so scared of pandemics that they are going to overreact during the next swine flu, bird flu, Ebola outbreak scare story. If companies already have digital signs and social distancing measures in place and ready to go, then they are essentially future proof.

Since the limitations mentioned earlier are dissolving, and since the demand for digital signs has remained, we are going to see a lot more growth in both the digital sign hardware industry, and its associated device market (PCs, streaming devices, etc.,). It may not see obvious at first, but we are probably going to see a lot of growth in these areas, and that even includes if there is another lock down or pandemic scare.