Tenant Directory

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Tenant / Building Directory Digital Signage Market

The tenant / building directory digital signage market in North America is expected to grow at a CAGR of 11.3% between 2019 and 2026. Novisign is a disruptor in the market, having recently launched Chromebox CBx1 which is widely used in the corporate and education sectors. The growth in the retail and hospitality sectors presents opportunities for digital signage in North America.

Market Growth

Disruptors

Opportunities

Major News

  • In January 2019, BrightSign LLC announced Audio Authority, which uses BrightSign's System on a Chip (SoC) solution to enable audio and video content distribution in its new line of media hubs. This would help in delivering "a custom array of inputs and outputs to create unique and engaging customer experiences for each application."
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Tenant / Building Directory Digital Signage Market Drivers

Two important drivers of growth in digital building directories or signage are changing user demands/expectations and increased technology.

Changing User Demands/Expectations

  • Tenants have come to expect modern amenities and facilities. Adding digital signage allows a building owner to future-proof for many years.
  • They are lower in maintenance costs and time needed and add perceived value.
  • In competitive areas or markets, building owners are looking to small investments like digital signage to maintain reputation and possible demand higher rents.
  • Companies are also realizing they can combine digital directories with revenue-earning opportunities (offering advertising within the signage).
  • General infrastructure improvements have led to greater ability for building owners to adopt digital directories (which often include virtual receptionists). This has driven segment growth.

Technology

  • Technology like touchscreens, facial recognition and NFC means that building signage can be more customized and interactive than ever. A directory could be customized to anticipate what a visitor is looking for.
  • Touchscreens pave the way for interactive maps, allowing users to zoom, pinched and rotated so people can exactly where they need and want to go. 3D mapping is already quite popular for government buildings, museums, cruise ships and more, and its adoption is expected to keep increasing.
  • LEDs themselves have developed to use less energy, cost less and offer a better quality product.
  • As technology improves for digital directories, they become more practical and cheaper to install. This drives segment growth.
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Tenant / Building Directory Digital Signage Use Cases

Aside from office buildings, retail and healthcare centers are some examples of places that can make use of digital tenant/building directory signages. These signages often serve as a platform for providing relevant information such as promotions and events to clients and for easier wayfinding.

Retail Center

  • Retail centers, such as malls, are one of the places that can make use of digital tenant/building directory signages. Examples of places that make use of electronic building directories are some retail centers owned by the Starwood Retail Partners and the Mall of America.
  • Aside from listing shops and restaurants, retail centers can also use these signages for advertising promotions and events. These digital signages can also be used for customer analytics for the testing and validation of marketing initiatives by collecting data from unique interactions.
  • These electronic building directories can also serve as a wayfinding tool that provides customers with directions to specific stores they are looking for within the mall.
  • Using the digital directories, the average search time for guests of the Mall of America has dropped to less than 40 seconds, down from the average search time of 3 minutes using physical directories. The digital signages have also received over 1.8 million unique interactions from their installation in 2016.

Healthcare Facility

  • Healthcare facilities, such as hospitals, are also places that can make use of digital tenant/building directory signages. An example of a healthcare facility that makes use of a digital building directory is Saint Luke's Hospital of Kansas City.
  • These signages provide an interactive solution for clients of the hospital to find where doctors and departments are located. This indoor navigation system helps provide visitors and patients easier access to healthcare facilities that they may not be familiar with.
  • The digital signages can also display upcoming events, infotainment, healthcare news, and if necessary, the cafeteria menu.
  • A study found that the hospital experience of patients and visitors is significantly enhanced by viewing hospital messaging on digital signages, with 75% recalling at least one message that they viewed on these digital screens. This shows that messages that are displayed on digital tenant/building directory signages in hospitals are more likely to be recalled by its clients making it an effective branding tool.
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Digital Signage Market Size

The US market size for digital signage was $4.73 billion in 2019.

Statista

ResearchAndMarkets

Grand View Research

Research Strategy

An extensive review of credible media sources, market research reports and articles by experts in the digital signage industry identified multiple, credible estimates for the size of the US digital signage industry. Given that the Statista and ResearchAndMarkets estimates for the American digital signage market corroborated one another, and considering the fact that both of these estimates were published more recently than the Grand View Research report, we concluded that the Statista/ReasearchAndMarkets market size was most current and substantiated.
Sources
Sources