The current global economic environment is full of uncertainties resulting from the turmoil in the credit and financial markets impacting all businesses. Advertising industry is not immune to this phenomenon - rather economic slowdown is likely to have a deeper and prolonged advertising downturn.
However, out-of-home or outdoor advertising, one of the major segments of advertising is bucking the trend with advertising dollars being diverted away from traditional media like newspapers, television and radio. Digital signage, a powerful and promising out-of-home advertising channel, appears to have the chance to resist this downturn in advertising expenditure by offering a dynamic messaging medium with an enhanced message impact.
One of the major growth drivers of digital signage is the advancement in technology which has helped retailers, marketing and entertainment companies, and many other organizations to ‘narrowcast’ dynamic video, graphical and editorial content on hundreds, or even thousands, of digital signage displays located virtually anywhere.
Advancement in technology along with declining input costs is making digital signage a lucrative business proposition for advertisers. Recent advancements in technology such as Bluetooth are helping to increase the attractiveness of the out-of-home advertising medium. And a major emphasis on targeted advertising by information, communications and education industries in North America and Europe is resulting in increased demand for this advertising medium.
Other factors driving growth of the global digital signage market include increased urbanization and growth of retail spaces, flourishing tourism industry, spending more time out of home by people and huge investments in transport infrastructure in the emerging markets.
The report provides an in-depth analysis of the worldwide growth of the digital signage industry. The potential opportunities that exist in this market have been assessed and the threats that the industry faces mainly from regulations have been highlighted. This report is a comprehensive view of the growth of out-of-home advertising industry and the increasing acknowledge of digital signage as a powerful medium to influence customer decision at the point of purchase and also as an information and communication medium.
As there are a number of players operating in the industry to provide integrated services, the supply chain of the digital signage industry has been analyzed in the report along with the major barriers to entry for new firms.
Finally, the future of the industry has been assessed in the light of the current downturn in the advertising industry and the underlying drivers of growth.