I tend to put quotation marks around the word “research” when that “research” originates from a “research” factory in Pune, India, but I will at least give a company called Emergen Research a nod for demonstrating some baseline sense of the digital signage industry in its 2024-2032 industry report and forecast.
Most of the reports coming out of these research assembly lines require $3,000 or more to get a look beyond a press release summary, and in almost all cases, the press release summaries suggest the “research” teams have almost no real knowledge of the industry.
But with this one, I was able to have an admittedly quick look at the full report, for no charge, because Atlanta-based CMS software firm 22Miles has made arrangements to make it available as a free download. The company also did that last year.
I don’t have hours to go over the thing carefully, however I have my doubts a small company that also produced recent reports on the European market for industrial tubes and the Polyether Block Amide market genuinely knows this business. But at least the companies looked at are active in digital signage, unlike some other summaries I have seen from Pune factories that include vendors that no longer exist or don’t do what the “researchers” suggest they do.
My guess is 22Miles has at least advised the analysts on how the market works and its players. And to the software firm’s credit, 22miles doesn’t seem to get heightened or skewed attention in the report.
The report findings suggest:
- In 2023, the digital signage market in North America, Europe, and the Asia Pacific regions increased to $2.14 billion versus $1.67 billion in 2022, a 28% growth rate.
- Projections indicate a soaring market value exceeding $14.3 billion by 2033, boasting a remarkable 27.9% CAGR.
- North America remains the largest market, with just over 40 percent of the market value, while Europe has the highest growth potential with a CAGR of 22.2%.
- On-premises deployment demand for CMS continues to grow at a rate of 19.7% versus 23.3% for cloud-based CMS.
- Corporate remains the top-spending industry for digital signage software at $439 million, followed by retail ($360 million) and education ($200 million).
I would not build or run a business around this stuff, but for companies raising money or pitching their pots and pans, these big research-y dollar figures and percentages look impressive on pitch deck slides, and the audiences won’t have any clue whether they’re meaningful or nonsense.
Apply the old grain of salt idiom here, except maybe use scoop instead of grain. For example …
Emergen says its head office is in suburban Vancouver, BC. I just about lost a mouthful of coffee on my monitor screen when I did a Google Maps look-up of the address and saw this photo of world HQ.
This is the actual head office, in Pune.
