Nordic digital signage worth €200m in 2015
The Nordic market for digital signage within the retail and service sectors is forecast to reach more than two billion SEK by 2015 (€200 million), according to supplier ZetaDisplay and IMS Research.
Leif Liljebrunn, CEO of ZetaDisplay, said: “We are counting on rapid market growth in the near future, as an increasing number of chains invest in this medium.”
The IMS report, titled ‘The World Market for Digital Signage, 2011 Edition’ states that the growth in the global market for digital signage will exceed 40% by 2013. It is expected that the world market for hardware and software, excluding service and advertising, will reach $7 billion, equivalent to MSEK 45 billion.
The retail and service sectors in the Nordic area comprise about 800 major chains, which stand for 70% of the total trade turnover, which amounts to a total of MSEK 1 092 (in 2007) according to calculations based on Exportrådet (the Swedish Trade Council) Market Retailing figures for 2002-2007.
Liljebrunn said: “The trade today has gained more knowledge and experience in digital signage, which simplifies the decisions to continue investment in it. The massive surge in media also means that one has doubts that the information on TV, radio and direct advertising is actually reaching prospective customers.
“On the other hand, digital signage efficiently presents its messages to customers precisely when they are deciding whether or not to buy, that is to say in the stores themselves. The medium can also reinforce information that the customers have already received via other media. Two-thirds of all purchasing decisions are made as customers tour the stores, where the products are displayed.
“We have also found that brand suppliers are prepared to pay for their presentation on the channel, since the purchasing decisions are primarily made while customers are in the store. This means that Digital Signage can to an increasing extent be seen as a new media channel for marketing,” he added.
ZetaDisplay also points out that standardization of hardware contributes to reduced investment costs for digital signage.