Market Trends of Retail Digital Signage Industry
This section covers the major market trends shaping the Retail Digital Signage Market according to our research experts:
Hardware segment to have significant market growth
- The hardware of a digital signage setup includes physical components such as screens (digital displays), media players, network components, mounts, or enclosures, among others. Digital signs use LCD, LED, and Projection to display digital images, video, streaming media, and information. They are available in various form factors, including menu boards, bar displays, and window-facing boards.
- Since a digital signage player is comparatively unattended, a smart system must be prepared for a field environment that is easy to deploy and scale. Interactive appropriations of the technology, such as a Krispy Kreme outlet in the United Kingdom, have been utilizing a digital signage system with a hole in the middle as an outlet for donuts.
- In October 2021, the doughnut company converted a wall with a menu board in Edinburgh, Scotland, into a counter for dessert pickup. The system included 5 Samsung Narrow Bezel Screens, BTECH System X mounts, Absen 1.8mm direct view 'Hole in the Wall' LED, AllSee 10 POE Capacitive Touch Screens inside the store, and embed signage Digital Signage CMS, controlling the whole system.
- Most millennial shoppers visit retail stores to have an interactive experience. As retail stores display multiple ads on multiple screens, over 40% of consumers tend to ignore signage, which is a major problem for advertising content providers.
- To overcome this, retail players, such as Tommy Hilfiger, IKEA, Argos, Last Call Studio, and many more, are adopting innovative shopping experiences using digital signage in multiple ways, such as interactive displays and smarter screen content, through various handheld devices, which can draw the shopper experience, thereby, leaving a long-lasting impression.
- Vendor integration has fostered the development of conducive partnerships designed to simplify customer experiences. In November 2021, Sharp NEC Display Solutions, a global leader in the projector and display market, announced that ActiveScene, its comprehensive AV solution that transforms existing glass walls into dynamic digital signage, can now run on the XOGO media player. Integrating with XOGO marks an important step in expanding access to the one-of-a-kind solution.
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North America to have a major market share
- North America is expected to dominate the global retail digital signage market over the forecast period due to the presence of major vendors in the US region and the recent technological advancement in the display, connectivity, and monitoring space. Furthermore, the increasing adoption has decreased the prices of display panels significantly.
- According to Scala Digital Signage, 74% of US retailers believe creating an engaging in-store customer experience is important, and 42% of sales are projected to come from online, mobile, and social commerce sites. Most millennial shoppers visit retail stores to have an interactive experience. As retail stores display multiple ads on multiple screens, over 40% of consumers tend to ignore signage, which is a major problem for advertising content providers.
- With an increased focus among retailers on targeted marketing strategies, the signage manufacturers are collaborating with retail stores to leverage increased sales by creating a branded environment. Developments for smaller displays are encouraging growth across the value chain. In January 2022, Axiomtek introduced the KIWI310, an embedded board powered by the Intel Celeron processor N3350 and the Intel integrated Gen9 graphic engine.
- In March 2022, Bubble Tea Company, Texas, United States, chose VideotelDigital's reliable and affordable VP90 media players as their digital signage menu board solution. Changing to digital menu boards required a technology solution that allowed their restaurant menu boards to be updated easily, remotely, and immediately to accommodate new campaigns, feature new flavors, or announce special offers.
- Moreover, in 2022, an emerging trend is the rise of digital signage kiosks. Businesses, especially retail, are turning to kiosks to attract customers across the United States, rely less on employees during a nationwide labor shortage, and return sales to pre-pandemic levels.
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