Hardware made cheaper
The rate of technological changes is faster than ever. Each year now brings fresh innovations in components or upgrades new ones. And competition between hardware vendors drives prices down, eventually benefitting the end-user. Hence, prices of LED screens, Media Players and computers as with computer peripherals are becoming cheaper by the day.
Software made easier to facilitate the following benefits
- Cloud based Programmes ; Where-in restaurants, fast food chains, Salons, Spas, Gyms, Car repair garages can update content on the digital screen by remote control
- Multi-store locations can be monitored by a single admin ie, the computer.
- Enables Incoming and outgoing customer traffic management and in-store coordination
- The digital screen can continue running content even if the internet connection blanks out. The URS’s stored in the computer facilitates this benefit.
Number & Statistics
In recent years there have been several researches, surveys and studies by several professional groups and the surveys do illuminate vividly the current trends in digital signage advertising. The most notable among them are surveys by Neilson, Arbitron and Russel Reynolds.
- Recent studies by Neilson and Ambitron suggests that digital signage usage has directly increased the sales of several businesses – Fast foods, Retail, Automobile Garages, Salons & Spa centres, Pharma, Education, Healthcare, Hospitality, Asset Mansgement, by an average of 40% yearly.
- Notable among them are Pizza Hut, McDonalds, KFC, GameStop (video gaming retailer), Vodafone, General Motors, Samsung as well as a host of small retailers like Papa Johns (a fast food outlet ), Benu Vaistine ( a pharma shop ), Meverick (Gas stations), Maceys, The Marlowe theatre, Westgate Resort & Casino and a host of others.
- The studies also indicate a rapidly escalating trend in the usage of digital signage by 2020 – a significant 9% increase compounded year on year. No other advertising medium comes anywhere close to this .
- The digital signage market is now estimated to be worth as much as $20 billion worldwide, with estimates for 2022 of between $30 and $35 billion, with an average CAGR of 5.7%.
- The US currently accounts for around $5 billion of current valuation. Corporate digital signage and campus digital signage are still big sectors, and continue to grow.
- We’re also seeing rapid growth in retail and outdoor digital signage, as well as hospitality. Use of interactive kiosks is also on the rise across business sectors.
A study from Russel Reynolds Associates emphatically endorses the recent trends in digital transformation which has impacted positively on the vast spectrum of businesses in the USA, Europe and the Asia-Pacific region.
Retail
- Over 45% of shoppers say that digital displays can change what they buy because relevant information is served close to the point of purchase. of shoppers admit to social media increasing purchasing decisions.
- 8/10 customers have entered a store because of a digital sign catching their interest.
- Digital media in public venues reaches more customers than videos on the Internet or Facebook.
- 70% agreed that digital advertising would influence their decision to buy advertised products in the future.
- 75 percent of people said they felt advertising on digital billboards stood out more than online ads, and 46 percent said they were more prominent than even television ads.
Hospitality
- A guest’s impression of a hotel is formed in the first 10 minutes of arrival.
- 65% of travelers indicated they would be more likely to visit a hotel that offered self check-in kiosks.
Education
- 15 % of educational institutions see digital signage as crucial for the future of communication.
- 16% of school children use a smartphone and 47% use a tablet on a daily basis.
- 92% of students say that video increases the learning experience.
- Applying technology to education helps students to reduce stress (42%), improve confidence (45%) and efficiency (60%), while also helping students to better prepare for class (65%).
Corporate
- Good internal communications drives 30% higher employee productivity.
- Digital Signage has over 50% effectiveness for brand awareness.
Restaurants
- 75% of customers say an easy to read menu is their top priority.
- 80% of adults have seen digital signage in the past month and 70% subsequently made an unplanned purchase.
- 30% of customers find digital menus influential for purchase of product.
Trade Shows
- Event technology can help increase event attendance 22%, increase productivity 30%, and decrease costs 20-30%.
Health Care
- Using distraction in clinical environments has been shown to reduce perceptions of pain, lower anxiety and stress and benefit clinicians.
Gym & Spa
- Digital signs keep customers in your establishment longer.
- Studying while moderately exercising may help individuals retain information better.
- The gym and the spa are often a great place for a digital detox
- This ties into the idea of using great user generated content in order to cement your audience with both their exercise regime and other likeminded individuals.
