The global digital signage market size is predicted to reached USD 31.71 billion by 2025, as per a new study by Grand View Research, Inc.
The growth of digital signage is driven by the usage of highly interactive display technologies in sports stadiums, indoor arenas, airports, bus/rail stations, retail stores, schools, hotels, restaurants, and so on.
While Retail was dominating end-user industry, the improved capabilities of using digital signages had pushed the adoption further.
Digital signage has proven to be a great tool in boosting brand awareness, improves customer experience and promote customers engagement. Digital Signage Future Trends Report highlights that 23 percent of retailers surveyed believe digital signage brings in the greatest benefit of connecting brands with consumer.
As we approach 2020, let’s look into some of the key trends in digital signage that is shaping the industry, and how marketers can utilise them as their 2020 marketing planning.
LED taking over Digital Signage
The digital signages available now in the market undeniably have better displays qualities and often comes with better tools built-in. As hardware production improves, the decreasing cost of LED displays had also amplified the adoption of digital signage across multiple verticals.
With digital signage vendors pushing toward direct-view LED displays, which is highly customisable and has a captivating focal point - it creates more immersive and engaging experiences for the audiences. Although the creatives will still be the key focus for most of the successful campaigns, digital signage will be capable of generating more interest when it is displayed on a highly functional screen.
The Perfect Formula: Big Data + Analytics tools
The emergence of IoT enabled devices, coupled with increasing adoption of location intelligence, has enable the huge collection of both consumer and marketing data.
Combining these data with in-depth analytic tools will be a major consideration when you are planning for the perfect digital strategies. The ability to capture data and translating key insights into targeted consumer behaviour is made easier than ever with these tools. Add-on connectivity via network or cloud-based content management system, these screens became more efficient and effective.
Facial Recognition and Artificial Intelligence
Marketers will be able to gain better consumer insights with the blending of multiple data sources - e.g. location data, AI and facial recognition. They now have the ability to identify and analyse the audiences reactions on real-time and deliver more personalised contents.
Proximity sensors and facial recognition cameras can be used to identify demographic details of your consumers. It can also identify whether the consumers are looking at a product or analyse their purchasing history to enable the display to recognise a customer, greet them, and suggest products or services.
Haptic or touch technology, on the other hand, helps marketers analyse touches on specific content on the display and can assess the how well the content is performing, so better creatives can be created to generate better engagements. Marketers will now be able to improve their campaign and further enhance the effectiveness of their digital signage. This also provide an appealing experience as it invites customers to participate with the content they consume which result in a better connection between consumers and brands.
Improve In-store Experience
Digital signage delivers an interactive experiences. Customers can browse through the entire range of products and make a purchase independently. For example, a self-service kiosk in a fast-food restaurant provides digital menus that allow customers to order and pay at their own. This effort has reduced queueing time and make the ordering process more effective.
Armagad report says that digital signage has significantly reduced perceived waiting times at checkouts by 35 percent and it encourages customers to spend 30 percent more times longer in the store.
Heading into 2020
Digital signage is growing at a fast pace. The next vital step in pushing the adoption faster will be using the analytics pieces concurrently and to see the additional values digital signage can provide to the market. 2020 is going to see a diverse range of businesses adopting digital signage strategies. Marketers today need to recognise the many benefits and capabilities that digital signage holds and how combining different data sources and analytic tools will bring in more effectiveness for their customer engagement journey. Whether designed as an interactive experience, as a way to better direct shoppers around your retail space, or to simply give high-traffic areas that ‘wow’ factor, digital displays can be incorporated to become a memorable part of both your store, and of your brand.