The utilization of smart display such as smart signage is increasingly at a swift pace across multiple applications. More and more businesses are working to improve the customer experience as a way to build and grow their businesses, and they’re looking at smart signage as the mechanism for creating that experience. From the big-box retailer at the mall to get a routine tune-up for cars at a gas station or a comprehensive check-up at a doctor’s office, digital signage helps communicate important messages. The possibilities for using smart displays such as smart signage to convey information, entertain individuals, increase retail sales, provide emergency alerts, and more continues to grow.
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The benefits of smart display technologies in various verticals further encourage the demand. Major verticals that have recorded significant growth in the utilization of smart signage include retail, entertainment, transportation, hospitality, and among more. Businesses including Nike, Axe, and more have achieved a wide range of goals including enhanced marketing using smart signage. Some of the most common objectives include lowering costs, increasing sales, informing or wayfinding, merchandising, enhancing the customer experience, and extending the brand value. Retail is one of the fastest-growing application areas for smart signage. In retail, smart signage can assist in enhancing the store environment, improving marketing and merchandising effectiveness, scaling valuable expertise, increasing operational efficiency, and improving corporate communications and training.
Further, new shopping patterns have caused a need for retailers to adopt rewarding strategies as retail shoppers are increasingly tech-savvy and sophisticated. With increasing access to the internet, the propagation of smartphone, and the rapid use of social media platforms, a drastic change has been observed in consumer shopping patterns. Smart signage is playing an imperative role in increasing retail sales. In a survey held by CISCO, it was found that over 40% of the shoppers say that smart displays can change what they purchase.
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The global advertising setting has perceived an impressive transformation in the last decade. Advertising as a form of impersonal communication aimed at a wide and diffuse audience is the ideal tool to promote products; targeting large markets in which consumers are not strongly differentiated in terms of motivations, preferences, attitudes, and more. Consumers and business buyers receive more messages, through more channels than ever before. The utilization of smart signage for advertising is certainly increasing as a focus on advertising increases. The introduction of interconnected, HD affordable flat smart displays has allowed content providers, including advertisers, to replace static screens by timely targeted content delivered to the audience. Therefore the growing application of smart signage in various industry vertical further propels the market growth.
Global Smart Display Market Segmentation
By Product Type
- Smart Signage
- Smart home display
- Smart Mirror Display
- Other (Interactive kiosk)
By End-User Industry
- Automotive
- Retail
- Residential
- Hospitality
- Sports & Entertainment
- Other (Transportation)
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