Digital signage is fast becoming an integral part of out-of-home and in-store advertising. Wherever you go, you are likely to encounter it: whether it be fast food chains, shopping centres, train stations and even the doctor’s surgery.
Digital signs use technologies such as LCD, LED and Projection to display content such as digital images, video and streaming media, as well as other necessary information such as adverts, promotions, menu options or timetables.
Market Growth
The global digital signage market size was estimated to be $20 billion in 2016 and is expected to grow to over $30 billion by 2025. This considerable growth in the industry is primarily driven by rising technical advancements in the capability of displays as well as reduced hardware costs. Furthermore, there is increasing emphasis placed on the digital promotion of products and services, as well as personalisation, in order to target audiences more effectively. Digital signage allows information to be provided through engaging and innovative media to deliver a more impactful customer experience.
Key Upcoming Trends
Video walls are an expected area of notable growth, having consistently accounted for the largest market share over the past three years. Video walls offer a wide range of benefits to marketers; providing greater space for advertisers and more potential for interactivity.
Haptic technologies are a key area of focus for the development of this category. Haptic technologies can stimulate nerve impulses that register in the brain as various physical textures, something which will add an entirely new dimension to consumer engagement and deliver an additional dimension to digital signage.
Content will continue to become more personalised. Though there remain challenges to using digital signage to create a truly individualised experience, advances are being made to improve the personalisation of content through techniques such as unique promotion offers (click here to read our insight report on personalisation within the retail sector).
As technologies get smarter, content will be more responsive and automated; for example, on a rainy day, adverts for umbrellas and indoor activities will be shown on the screens as opposed to summer clothing collections, water parks and outdoor events on sunny days. This form of responsive advertising is a necessity to retain customer engagement and is best served through digital signage.
It is clear therefore, that digital signage offers great benefits for marketers and has the potential to continue to revolutionise the customer experience. If you’d like to discuss how we can help you utilise digital signage within your business marketing strategy, please get in touch at hello@tkm-consultants.com