Despite Strong Market Growth, Buyers are Struggling to Keep Up with the Increasing Procurement Price of Digital Signage Solutions | An Article by SpendEdge

LONDON--()--SpendEdge, a leading procurement market intelligence company, has announced the completion of its article that underlines the challenges faced in the global digital signage market and how SpendEdge can help overcome the market challenges.

The spend growth in the global digital signage market is set to touch a value of over USD 7 billion between 2018-2023. Enterprises from the BFSI, retail, automotive, FMCG, and e-commerce sectors are exhibiting growing penchant towards the digital mode of outdoor advertising owing to its efficacy in driving sales to about 43%. This will continue contributing towards the digital signage market’s spend growth through 2023. But is this spend growth favoring the optimal procurement price of digital signage solutions?

SpendEdge’s recently concluded article on the digital signage market reveals the fact that a major population of buyers is failing to scale up to the increasing procurement price of digital signage solutions.

Find out how real-time insights into price dynamism can help you take informed procurement decisions. Gain complimentary access to our platform to get real-time insights into factors that are changing dynamics of markets.

An overview of some of the disruptive factors that are driving the procurement price of digital signage solutions are listed below:

Implementation of Advanced Technologies Such as AI

There is no doubt about the fact that buyers stand the chance of spiking their sales to an impressive number by influencing customer’s shopping decisions. These decisions are influenced by engaging and moving visuals. Integration of AI is supposed to enhance customer’s experience with digital signage solutions. However, the implementation of this technology will propel supplier’s OPEX. For buyers, this will impact the procurement price of digital signage solutions.

To gain detailed insights into the sourcing and procurement best practices for the digital signage market offered by our experts, request more information.

Increasing Expenditure on Energy

Large display screens are always the preferred choice of buyers owing to its efficacy in broadcasting information in bulk. However, in comparison with smaller display screens, the larger screens consume higher amount of energy. Skyrocketing utilities costs are further adding to the procurement prices of such larger display screens.

Why Rely on SpendEdge to Mitigate the Challenge of Increasing Procurement Price of Digital Signage Solutions?

Experts at SpendEdge opine that the procurement price of digital signage solutions is highly susceptible to frequent volatility. Extreme dynamic factors are at play that are rendering the volatility of the procurement price of digital signage solutions. SpendEdge will advise you with smart procurement solutions based on real-time insights into the market dynamism that will allow you to contain your procurement costs in the digital signage market to a significant extent. Insights into some of the smart procurement solutions are listed below:

  • Buyers are advised to engage with suppliers that are adopting energy reduction programs in their manufacturing facilities to reduce their energy requirement and optimize their OPEX. This will allow the suppliers the liberty to offer competitive procurement price of digital signage solutions.
  • Buyers should look for suppliers that can provide insurance for all the equipment or displays installed across multiple locations. This can ensure monetary coverage in case of damage to the display or other equipment, which can arise because of accidents, calamities, or other factors

Finding it hard to gain spend visibility in market? Or wondering how to fine-tune your supplier relationship management metrics? Connect with our experts to get tailored information suited to your specific business use case.

Free Samples of Similar Reports

Do you purchase multiple reports in a year? Our subscription platform, SpendEdge Insights, provides ready-to-use procurement research reports for numerous categories, latest supplier news, innovation landscape, markets insights, supplier tracking, and much more at the click of a button. Start your FREE trial now.

About SpendEdge

SpendEdge shares your passion for driving sourcing and procurement excellence. We are a preferred procurement market intelligence partner for Fortune 500 firms and other leading companies across numerous industries. Our strength lies in delivering robust, real-time procurement market intelligence that helps sourcing and procurement professionals make informed decisions. These innovative procurement solutions help enterprises transform structural capabilities, improve execution efficiency, and fast-track time to savings.

Contacts

SpendEdge
Anirban Choudhury
Marketing Manager
US: +1 630 984 7340
UK: +44 148 459 9299
https://www.spendedge.com/contact-us

Release Summary

Read the complete article to gain better insights into factors that are driving the procurement of digital signage solutions

Contacts

SpendEdge
Anirban Choudhury
Marketing Manager
US: +1 630 984 7340
UK: +44 148 459 9299
https://www.spendedge.com/contact-us