Digital Signage Market Trends in India Although Digital signage is a comparatively new communication & branding medium; it is growing at noticeable rate. As per Netscribes report, in 2013, this market was worth INR 560 crore against the 2012 figures of INR 450 crores. Presently, its growth rate is 25% CAGR. There are various factors that indicate the potential for the growth of digital signage. The industry reports indicate increasing expenditure by companies on DS, it shows digital signage is getting the recognition & generating positive reviews amongst various industry users. When compared to global digital signage market, Indian digital signage market is still in nascent stage. Despite its newness, it is projected to grow at a remarkable rate in the coming five years. The use of digital signage (DS) for marketing purposes is mostly limited to indoor applications, but its outdoor use is also set to significantly grow in the coming times through other formats such as LED walls. The Digital Signage uses latest engineering and methodologies for impactful company branding & communication. Today it offers wireless, touch interactivity, Business Intelligence, CRM integration, live feedback, advance analytics, Queue Management & meeting room management integration. It proves to be a powerful tool to target larger audiences. Today, brands use a sophisticated approach to create unique and differentiated consumer experience. Digital Signage aims to deliver a personalized, enjoyable, and interactive experience to their customers across all devices. Companies offering digital signage solutions expect demands from different industries mainly from hospitality, retail, BFSI, education, and healthcare. Another big prospect for the DS service providers is the government. The major demand for DS stems from in-premise, in-store installations and relates to the internal communications. BFSI is a big segment of digital signage in the country. Banks use DS across the branches for displaying schemes, new offerings, consumer benefits, and conversion rates on Forex. Also, share broking companies, hospitality and companies offering financial services are deploying it at a rapid pace. There are various other formats that digital signage is replacing, The major reason for easy acceptance of digital signage is its ability to bend as per situation & communication need. The retail industry is constantly expanding the use of digital signage in India. As these stores expand and branch out, the management becomes increasingly vigilant towards performance. Retailers use DS screens for promoting interactions through live feedback with constantly changing messages to engage the targeted audience. According to the current trends, education sector is proving to be a promising vertical as well. The common need from all sectors is effective content & its right distribution. Private institutions also want to promote a uniform vision and mission across, campus news & activities across their branches. Many schools are today installing big display screens and reception areas for the purpose of useful internal communication. More and more partners and vendors are forming association with numerous content providers to tap the growing opportunity.
The trending solution is Android-based signage, mainly because android technology is widely used through smartphones, tablets etc. Placed on the retail shelves, the tablets display the available products, offers and play commercials. The Indian government is also installing DS screens at strategic locations, mainly to impart relevant information to the public. Hence today, we come across many such display boards at the Metro stations, bus stops, railway stations, and other public places. Digital signage display market has today diversified across industries and segments, with power surges, network scaling, and availability of economical display screens & puzzle fit digital signage solution availability spurring its growth.