LONDON--(BUSINESS WIRE)--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.
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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.
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