‘Businesses are realising that signage is much more than an advertising mode - it is part of a comprehensive ecosystem’
By M4G Bureau - March 28, 2022
To meet the growing demand for delivering interactive solutions, the confluence of centrally controlled digital display solutions’ networks is expected to gain momentum in the times to come, asserts Vijay Wadhawan, Director - System Solution Division, Panasonic India in an interview with Media4Growth
With the world resuming normalcy, what are some of the congenial factors that will help facilitate the market for display solutions, especially for retail industry?
According to 6W Research, the Indian digital signage market is estimated to grow at a 15% CAGR by 2025. In the post-pandemic era, shopping habits have evolved drastically. Customers have become digital-savvy and are looking for solutions that are contactless, tech-enabled, and interactive. Therefore, enterprises are focusing on delivering an interactive experience and trying to establish a connection with customers and visitors alike. To meet the growing demand for delivering interactive solutions, the confluence of a network of centrally controlled digital display solutions is expected to gain momentum in the times to come.
The retail industry is likely to play a significant role in the implementation of digital signage solutions. Retailers have made significant investments in digital signage technologies in recent years in order to provide better consumer experiences and gather relevant business insights. Other sector verticals, including as healthcare, education, transportation, sports, and entertainment, are also likely to create substantial market revenue in the approaching years. Urbanisation, digitisation, 5G and other factors are likely to influence market growth.
DOOH has evolved from an awareness-to-engagement medium. How’s Panasonic upgrading its DOOH solution to cater to the enterprise customers?
As the economy is increasingly becoming dependent on digital mediums, interactive digital signage fills the vacuum between the online world and the customer. The latest large-format, touch-enabled interactive panels and kiosks enable businesses to engage customers in innovative ways. This has been aided by improved connectivity, the adoption of interactive commercial apps, the digital infrastructure expansion, the desire for higher resolution screens. Furthermore, in order to engage customers, content distribution is vital to providing a DOOH digital solution. Taking this into consideration, Panasonic efficiently incorporated SignEdgeDisplay Network (SDN) and data analytics into our hardware, positioning us as an end-to-end solution provider to our customers.
Using worldwide DOOH standards as a guide, we see AR-enabled devices across Europe and the United States, allowing OOH campaigns to capture increased engagement. How far are we from seeing such technology become common in India's DOOH?
Businesses are realising that signage can be much more than a mode for advertising and immersive content. Instead, signage is an integral part of a comprehensive ecosystem or solution that helps in the understanding of the overall business. We are no longer restricted to deploying display panels just to provide information to our audience. In certain ways, signages can now assist business in seeking additional information about customer preferences asking few questions about how to better serve them.
Panasonic, for example, installed a comprehensive digital signage solution, comprising displays and software, to the one of the leading automotive dealership. A total of 78 dealerships and 150 service stations were connected to the Panasonic SignEdge solution via the OEM’s central cloud system with media players driving over different-sized displays. This enabled the OEM to make data-driven decisions based on specific information through consumer interaction, such as, how many people interacted with the automobile configurator, which features of the car are more appealing, keeping inventory to meet predicted demand for a car variant and, so on. Panasonic’s SignEdge helped the OEM offer a superior customer experience, and at the same time take intelligent/data-driven business decisions.
Digital Signage market is cluttered. What are some of the unique propositions that distinguish Panasonic from the rest?
Panasonic SignEdge Digital Network (SDN) provides unique technology and infrastructure, allowing seamless integration capabilities with third-party software and applications in the digital screen retailers network. It enables organisations to use cloud management services allowing flexibility to create and organise reports on the DOOH display status using content management system (CMS) software with minimum hardware configuration. Moreover, the solution empowers the ground staff with additional information in real-time to optimise the content, making it more visually appealing and engaging which improves the customer experience and leads to higher conversions. Panasonic’s SignEdge solution has been designed to explore interactive engagement for potential customers. In short, a rich, visual communication through varied modes of digital technologies to enable customers.
Panasonic recently introduced Digital SignEdge Extension (SDN – SignEdge Display Network) solution which comes with an integrated programmatic ad platform that helps retailers and owners of digital screens to generate additional advertising revenues for the vacant slots while offering flexibility, control, and cost-effective means to sell their digital advertising space to a larger audience. The solution ensures complete customer privacy while providing a competitive edge to businesses.