SpendEdge has been monitoring the global digital signage market and the market is poised to experience spend growth of more than USD 7 billion between 2018-2023 at a CAGR of over 6% during the forecast period. Request Free Sample Pages.
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This spend growth is primarily attributed to the steady popularity gained by the digital mode of outdoor advertising owing to its cost-effectiveness and efficacy in driving sales. This mode of advertising is particularly relevant for the BFSI, retail, automotive, FMCG, and e-commerce industries. Induction of digital signage mode of advertisements in these sectors has augmented impulse purchase sales while orchestrating the brand awareness. Its interactive display elicits better customer engagement, thereby boosting sales through upselling and cross-selling.
In terms of regional spend growth, North America will dominate the digital signage market and will continue contributing towards a large-scale digital signage procurement. This growth will be driven by the presence of retail, automotive, entertainment, and media industries that are exhibiting an extensive utilization of digital signages to improve their sales and brand reputation in the market.
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Insights into the digital signage price trends
- An excess digital signage procurement spend is anticipated owing to the increase in the prices of raw materials such as steel, aluminum, and steel that are used to manufacture the product.
- Suppliers are incurring hefty expenditure on energy owing to the energy-sensitive nature of the manufacturing process coupled with an increase in energy prices across regions. This is exerting an inflationary impact on the digital signage procurement price.
Insights into strategies that will help buyers optimize their digital signage procurement spend
- The adoption of the regional sourcing model is known to foster significant cost-savings during digital signage procurement as well as better support service assurance for buyers. Collaborating with regional suppliers will ensure quick access to maintenance or support service in case of a sudden failure of the display boards.
- Buyers are advised to engage with suppliers who use cloud-based content management software. This software will allow buyers remote access to content creation tools and customization tools through any standard browser, eliminating the need to install extra software.
COVID-19 Impact Assessment and Market Insights
SpendEdge’s reports now include an in-depth complimentary analysis of the COVID-19 impact on procurement and latest market data to help your company overcome sourcing challenges. Our Digital signage Procurement Market Intelligence Report offers actionable procurement intelligence insights, sourcing strategies, and action plans to mitigate risks arising out of the current pandemic situation. The insights offered by our reports will help procurement professionals streamline supply chain operations and gain insights in the best procurement practices to mitigate losses.
To stay on top of latest trends and supply market information, check out SpendEdge’s knowledge center on COVID-19 impact assessment.
The top digital signage suppliers enlisted in this report
This digital signage procurement market intelligence report has enlisted the top suppliers and their cost structures, SLA terms, best selection criteria, and negotiation strategies.
- Samsung Electronics Co. Ltd.
- LG Corp.
- Sharp Corp.
- Panasonic Corp.
- Sony Corp.
- NEC Corp.
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Some of the key topics covered in this report are:
- Digital signage market spend segmentation by region
- Digital signage supply market analysis
- Digital signage procurement best practices
- Regional spend opportunity for digital signage suppliers
- Digital signage suppliers cost structure
- Total cost of ownership analysis in the digital signage market
- Digital signage suppliers pricing models analysis
- Category management objectives to promote an optimized digital signage procurement
- Cost saving opportunities in the digital signage market
Free sample of reports that you may like:
- Global Digital Advertising Services Market – Procurement Intelligence Report
- Global Brand Management Services Industry – Procurement Market Intelligence Report
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