LED to Lead the Digital Signage Industry to the Next Level
SGI Dubai 2018 to showcase cutting edge digital signage solutions
The digital technologies have overtaken the more tradition print versions of late. Retailers, entertainment and leisure venues, corporate houses and other businesses are constantly monitoring their marketing and communication approaches to be conspicuous in such a crowded marketplace. As a result, many organisations are taking maximum advantage of powerful signage as choice means of place-based mass communication. Digital signage can be a powerful tool for engaging customers for any business and LED is proving to be the preferred technology.
Abdul Rahman Falaknaz, Chairman of International Expo Consults and an expert for the digital signage industry pointed out, “The digital signage industry is on a major upswing largely driven by the area’s growing retail, commercial, healthcare, F&B, tourism and infrastructure sectors. The digital signage industry is mostly catered to by the LED technology and the demand for high definition picture quality complimented with attractive design is driving the demand for displays market".
The global digital signage market is expected to grow from USD 19.61 Billion in 2016 to USD 32.84 Billion by 2023, at a CAGR of 7.4%. Research shows that it can be upto four times as captive than static displays, thereby increasing the recall rate and the effectivity of brand awareness campaigns. Customers tend to be more attentive and inquisitive thereby improving their awareness, loyalty and satisfaction. Factors which lead to a higher average purchase, repeat business and overall sales figures. Digital signage doesn’t just have applications in sales but also for internal communications within the organization. Digital signs have been proven to reduce injury by 20% (safety communications) while improving employee engagement and subsequently productivity.
According to concluded Mr. Sunil Purushothaman, General Manager, Masonlite, “LED’s have reached every nook and corner by cutting costs, saving power and being efficient. The market is very attractive and promising as LED’s find great utility for both indoor and outdoor signs. Digital printing will be deeply impacted but is being replaced by a vibrant, attractive, economic variant which requires less maintenance. Retail market, especially will find LED technology a boon for its promotional requirements”.
The LED industry was worth US $45-47 billion in 2016 as per reports and represents around 50% of the total lighting industry. While Northern America is the largest market for LED and South East Asia the fastest growing for the sector, the MENA region isn’t that far behind due to the huge infrastructure advancements which would correlate to acceleration in LED lighting developments. The study also highlights that the GCC LED lighting market will be subject to a growth of 16.8 % (CAGR) from 2015 to 2020 to reach sales to the amount of US$1,978.1 million. Additional requirements of pursuing lighting energy conservation, LED lighting will have more opportunities of replacing conventional lighting.
“In the GCC, the penetration of LED lighting stands at 38% of the total market and expected to cross 50% till 2020. SGI Dubai is the only such platform promoting the industry in MENA region. The GCC countries look forward to this show every year to experience the latest in technology. With events like EXPO 2020, the LED market will definitely witness a major push in sales,” Sunil concluded.