Market Trends of APAC Digital Signage Industry
OLED to Show Significant Growth
- OLED technology holds the promise of significantly enhanced picture quality, with the potential for innovative new consumer display presentations. It is often hailed as the future of digital displays and screens.
- It is the only technology that overcomes the limitations of conventional displays, as it offers enhanced reality combined with a dynamic form. OLED provides superior light and color expression, as it is based on self-emitting light sources. Its flexibility and transparent nature are the results of the development of innovative OLED materials.
- A country such as Vietnam is marketing the application of OLED digital signage boards in the country. For instance, in August 2021, the country hosted the International LED/OLED and Digital Signage Show at Saigon Exhibition and Convention Center Ho Chi Minh.
- Moreover, LG Electronics India recently installed OLED digital signage at the largest shopping mall in Delhi, utilizing 63 custom-made curved 55-inch OLED panels. Standing eight meters tall, the OLED displays are installed in a ring so that they can be observed at any angle. Additionally, the tech giant supplied OLED signage at another Ambience Mall in Gurgaon, Delhi.
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India to Hold the Highest Market Share
- Last year, amidst the COVID-19 pandemic, the adoption of digital signage increased significantly in the region despite a decline in the global economy as businesses sought innovative ways to reach their target audience better.
- According to Scala, India represents one of the largest gems and jewelry sector markets and contributed 29% of global jewelry consumption. This sector contributes 7% to the Indian economy and provides jobs to more than 40 lakh people.
- Purchasing jewelry has been an inherent part of Indian tradition and culture. However, Personalisation is vital in increasing customer satisfaction and building brand loyalty as most customers prefer to purchase jewelry in-store. During the pandemic, jewelers across the country have opted for a 'phygital' approach to reach more customers and keep their revenues high while ensuring a safe and seamless shopping experience.
- For example, India’s most trusted jewelry brand, Tanishq, announced the launch of new phygital features, a tech stack that would bridge the gap between bricks and clicks – incorporating features such as video calling, endless aisle, virtual jewelry try on, and real-time, live assisted chat in more than 200 stores across the country. Several other Retail end-users are implementing digital signage, which is further increasing the demand for in-store signage solutions in the country.
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