According to recent research, the Digital Signage market (digital signs, advertising monitors, video walls, interactive technologies, etc.) shows positive growth dynamics. Numerous reports and expert presentations at the annual ISE 2020 trade show in Amsterdam converge on one view — 2020 is expected to see growth in sectors such as Retail, FMCG, HoReCa, Entertainment, Healthcare and others.
It is obvious that the global economic crisis and the COVID‑19 pandemic will be a serious test for the digital technology market and the global economy as a whole. But even in a difficult situation, digital technologies demonstrate their importance and irreplaceability. Let’s look at what is driving market growth and how Digital Signage solutions will evolve this year. Which technologies can help retail cope with the key challenges and problems arising from rising costs in networked retail.
In 2020 the retail market will become a lifeline for the economies of many countries.
The market for digital signage, advertising monitors and digital advertising in general will continue to grow. This is confirmed by a recent report from the research firm Markets and Markets. The report shows that the digital signage market in 2020 will amount to nearly USD 30 million, a 7% increase compared to the same period last year. This is explained by growing demand from a larger number of businesses that use digital media and advertising surfaces — especially in developing markets and among companies increasing investments in software‑and‑hardware Digital Signage solutions.
Analysts confirm that in 2020 the vast majority of networked retail owners will invest in digital advertising, interactive technologies, advertising monitors and signage both in developed and emerging markets.
In this context it is fair to note that Innovative DMC has over six years of experience implementing projects across various business sectors and directions. And retail is no exception.
We have a ready product to automate all content‑management processes.
iDS SMART Retail is software developed specifically for centralized content‑management projects across an unlimited number of sites, using various playback devices: electronic price tags, smartphones, tablets, consumer and commercial TVs, etc. Management is carried out via the iDS Cloud — cloud or local server.
The Markets and Markets press release states: “By deploying LCD or LED advertising monitors, digital menus and Shelf Talkers in their stores, retail owners gain a significant advantage over competitors.”
In the digital age, those who control information — control the world.
This means that real‑time information updates on digital playback devices across large networks are not a trend but strategic priority number one.
Priority number two is cost reduction through the transition to digital media and moving away from traditional printed POS materials. Queue management, synchronized content playback using video walls, increased brand recognition, stimulation and prompting of purchases directly at the point of sale using Digital Signage — all of this is the future of digital technologies in 2020.
As for the newest technologies in Digital Signage, the undeniable favorites and technological breakthroughs of 2019 were OLED Wallpaper monitors (EPD) and transparent 8K displays from LG Electronics, which currently have no analogues. It is evident they will become mainstream over the next few years. Each year the wide array of options and functions in Digital Signage hardware‑software solutions exceeds end‑user expectations. 2019 was no exception — OLED Wallpaper, Micro LED and projection solutions delight both integrators and end customers.
IMPORTANT: Highly qualified support from integrators and Innovative DMC’s technical specialists helps avoid mistakes at the planning stage of centralized content‑management projects across various playback devices.
Digital Signage solutions are becoming SMART. In 2020 systems and solutions for centralized content‑management projects will continue to evolve, and software developers’ priorities will shift toward personalization. Artificial intelligence, process automation, robotics, BIG Data, targeted personalized messages relevant to a specific audience, and undoubtedly high‑quality content as the foundation of all projects.
Integrating iDS Cloud systems with accounting software and using loyalty program data in combination with digital media allows automation of all information‑update processes across devices in all stores, thereby increasing company profitability.
From the customer’s perspective it will work like this:
If you really like a clothing store, you download its app for quick purchases and to receive offers and news — a logical and correct solution.
Personalization: You enter a particular store? Know that they may have sensing technology that recognizes you and displays a personalized greeting on a digital screen. Great… Loyalty and a friendly address to customers are the key to successful interaction. Using geo‑targeting, data from the app can display what you last viewed, so the in‑store digital sign “subtly” guides the shopper toward a product while simultaneously sending a discount code to your phone. Thus, retail sales departments will be able to provide more personalized services in an Omni‑channel format.
“Digital signs and advertising monitors will actively develop in small retail chains and shops.”
Rapid growth of Digital Signage in 2020 will drive the adoption of digital formats in networked retail and beyond. At the same time, two global trends further support the development of the digital signage market:
- A move away from plastic packaging and single‑use (polyethylene) bags toward reusable containers and increased use of recycled materials in retail. The social‑responsibility trend will become even more relevant this year, continuing as consumers pressure companies to abandon harmful single‑use materials.
- Greater detail in product information on the shelf via digital electronic price tags. Consumer‑protection rules and requirements are strengthening annually, forcing manufacturers to provide expanded product information: daily updated/current prices, clearly visible ingredient lists, detailed nutritional information, origin and expiration data — all must be displayed for each product. In this case, Digital Shelf Talkers or interactive monitors become indispensable.
Excerpt from the annual report by Invidis consulting:
“Driver: Increasing adoption of digital signage products in commercial vertical”
The digital signage market is expanding in terms of the number of displays due to the large number of digital signs installed in commercial locations such as retail stores, hotels and other public spaces for advertising, product information, instructions, wayfinding, entertainment, etc.
Retailers can create an engaging shopping environment by deploying marketing tools to encourage informed consumers to stop, look and purchase goods and services. Digital Signage is an optimal solution for creating an immersive, enhanced shopping experience: with digital signs retailers can project images and videos to showcase products and capture viewers’ attention, and they can configure displays and tailor content to build an artistic and dynamic atmosphere. Moreover, retailers can easily manage complex display requirements and deliver the right content at the right time and place. They can also provide relevant information through intuitive, interactive interfaces that help expand the customer base.
Undoubtedly, 2020 will be a serious test for humanity. However, with faith in better times and hope for a quick stabilization of the epidemic situation, the Innovative DMC team moves forward — toward new releases, interesting projects and turning ideas into reality.
Our drive to grow is our motivating force.
Innovative DMC — a comprehensive expert Digital Signage services and solutions provider.
