You will no doubt come across, in some lazy trade publication, a copy and paste version of this press release Digital Signage Market Size likely to grow at 5.2% CAGR from 2016 to 2023.
It says the industry’s market size is going to be $23 billion and blah-blah-blah ….
It’s from a research factory in Pune, India, and if you want to run your business based on that kind of research, good luck to you.
But before you whip out a credit card and blow what is usually $2,000 or more for this kind of report, consider this:
On the same day that report came out – Jan. 6, 2017 – the industry expert analysts also released reports on:
The factory has knocked out 12 research reports – on everything from powder coating to bulk container packaging – so far this month, and it’s Feb. 2nd!
The company lists its world headquarters as being in Ocean View, Delaware. The address is a suburban strip mall that also has a Papa John’s, Curves, a nail salon and a tanning place – plus a UPS Store (which may mean world HQ is a rented mailbox). The office isn’t big enough to warrant a slot on the roadside sign.
There are real research companies that focus on this industry and send real people to trade shows and conferences to assess, analyze and measure the market. There are several companies – or at least several business names – for these kinds of industry forecasts, and I have written in the past about them. I’d stop, but some of my brethren in the trade press keep taking these sorts of reports and running the highlights, without doing even basic checks. And I see these numbers then quoted in vendor press releases and even in investor presentations.
Reader and buyer beware.
Editor’s note: To be entirely fair, I have not read this or any other report coming from these factories. I’m operating off common sense, and so should you.