The world of marketing has expanded exponentially with the growth of digital media. Advertising is not just done through traditional mediums. Especially in the field of Out-of-home advertising (OOH), the advent of digital media has changed the face of marketing. The arm of OOH that uses digital media is DOOH, also called digital signage and has seen tremendous success and growth in the previous years. DOOH market was valued at $ 3,639.30 million in 2016, and is projected to reach at $ 8,393.30 million by 2023, growing at a CAGR of 12.60%. Clearly DOOH is making waves in the advertising industry. According to Adobe, 59 percent consumers in India show more interest in advertisements on digital media than TV commercials and radio ads. One of the factors is India and the world’s escalating consumption of digital media which makes it a perfect platform to make the buyers aware about the products of a company.
Another cause of the proliferation of DOOH is the forever upcoming new technology along with expansion of DOOH inventory. The number of screens has proliferated due to the availability of LCDs and LEDs at cheaper rates. Also, the display screens are getting thinner and bigger and video walls are a booming trend, accompanied by the technology of virtual or augmented reality. In the future, the advertisements are set to be more interactive with the integration of digital signage and technologies into real-world events.
The entrance of artificial intelligence in the area of technology has brought unprecedented advancement in data analysis and integration. Soon, digital signage systems, on the basis of received and analyzed data will be able to target messages to specific displays. The integration of advertisements on all platforms leading to better communication. There is an increase in the number of outdoor digital signage varying in sizes and styles, some of which will be able to interact with a person’s smartphone or tablet.
Over the years,there has been a better targeting algorithm to recognise and identify the audiences with the help of as gender recognition, gaze-tracking and vehicle recognition.
The point of DOOH is communication, between the buyers and the sellers which has become better, smoother and faster with the help of revolutions in technology.
There was a lot of innovation in 2017 in digital signage and the market is even more prospective in 2018. Locad itself has been leading the innovation in DOOH sector with its new and efficient products that help in ease of business and their growth through digital advertising. By using our product called Screen-OOH, digital media owners can manage content across any number of screens and geographies via a single cloud based web interface, irrespective of what hardware device they are using. Screen-OOH will get complete access to real time DOOH inventory with in depth live traffic monitoring and footfall numbers.
Another major product that Locad is planning to surprise its consumers with is the Locad Glass - Non electronic “LASER Photonic Display.” It is meant to bring life to glass and help owners monetize their assets in ways unheard of. It will overcome all restrictions of traditional electronic products and qualify for large commercial projects, like installation of thousands of display video walls with 360 degree visibility. It can be seen from all sides, making it superior to existing technologies.
The technology can be used to make a virtual commerce industry (V-Commerce) where brands can display their products on large formats at prime locations without holding stock using retail store windows or hotel facades as virtual walls for advertising. We can convert entrances and building’s facade to generate big sustainable income by targeting the impulsive buyer.
A major advantage is the use of green technology wherein only a very small amount of power is required that does not require cables, electronic components, down time and produces no heat. We call it S4 – i.e. SIMPLE, SUSTAINABLE, SCALABLE, & SMART.
The industry of digital signage has the consumer at the center. It enhances communications, increases engagement and builds community. And all the innovations in the industry are focusing on better customer acquisition and communication making it more comprehensive and personalised.