Digital Signage Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 -Posted by Statzy Market Research on April 15th, 2021 The digital signages are gaining popularity in the United States due to the recent technological advancement in the display, connectivity, and monitoring space. Furthermore, the increasing adoption has also resulted in prices of display panels coming down significantly. - The study by Convenience Store News IN 2019, found that 27% and 25% of their audience were either influenced by banners or promotional signage, while the study by Homeworld found that more than 40% of their respondents were influenced by an instore element like Signage and other in-house elements. - One of the significant applications of digital signage has been in the advertising space, due to which there has been an increased demand for Digital Out-Of-Home (DOOH) advertising in the US. Several initiatives by local associations bring together delegates for collaboration through networking events and experiential exhibits. - Moreover, due to the country’s high penetration and adoption of technology, technology giants, like Apple Inc. and Samsung Electronics, have been investing significantly in digital signage. For instance, recently, Samsung launched The Wall, an innovative display solution optimized for effective communication and collaboration across a variety of applications. Apple Inc., on the other hand, has been looking at converting its set-top box to operate as digital signage through its management APIs and cloud-based software for retail installations. These innovations are going to play a key role in the development of the market in the future. Key Market Trends - OLED is the only technology that overcomes the limitations of conventional displays because it offers enhanced reality combined with dynamic form. OLED provides superior light and color expression because it is based on self-emitting light sources. Its flexibility and transparent nature are the results of the development of innovative OLED materials. - As OLED displays lack the backlight, they perform extremely well in terms of contrast (offering, essentially, an “infinite†contrast ratio). OLED displays feature the true black background, something that LCD displays cannot match. - The application of OLED in digital signage for indoor branding and experiential media is increasing rapidly, driven by energy-efficient, lightweight, and superior media presentations. - Moreover, retailers are striving to update the user-interactive screens in real-time to reflect the current trends, in terms of in-store age or gender demographics, in order to promote specific items or remove sold-out products from the screen. - According to Scala Digital Signage, 74% of the US retailers consider that developing a more engaging in-store customer experience is critical, and out of that, 42% of the sales are expected to come from online, mobile, and social commerce sites, in the next five years. - The Point-Of-Purchase (POP) digital signage’s and backlit displays are reducing the time spent with the customer, by communicating through these printed signage boards on the details of product location or product information, which is easing the retail business operations. - According to a Popspot report, POP displays prove to be 2.5 times effective at creating an emotional response than static images are. Prominent digital signage software platforms have extensible APIs that help in supporting the integration of other data streams.
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