Artificial Intelligence, machine learning and big data developments in technology have created new methods which are a contributing factor towards the growth of the LED Video Walls market. The good thing about technology is that it can be used in a variety of applications, in fact allowing additional usage in the case of products. Outdoor video walls are demanded in transportation industries and used as billboards and landmarks. Indoor video walls are able to provide advanced digital displays, high resolution and wider range, which means corporate meeting spaces, cinemas and home theaters are increasingly demanding video wall technology.
Fortune Business Insights provides some statistics to prove that the use of LED video walls is on the rise. Market size in 2018: USD 15.91 Billion, projected to reach USD 36.16 Billion by 2026!
1. Large Scale Marketing Campaigns
Content always looks better on a bigger screen. Hence it is without a doubt that big screens are now the focal point of several public and business environments. Whether you want to market your brand at tradeshows, conferences, educational institutes, hotels or retail stores, video walls are a huge trend.
LED Video Walls are often recognized in the form of cubes or flat-panel displays, which make them perfect for personalizing large-scale marketing content; whether it is brand, product or service-related marketing.
Just like with other marketing mediums, the size and quality of the LED display is very important. Not only should this investment be able to display high quality content and look appealing to viewers, it should also be durable and withstand constant handling and long-term use.
Once businesses start to see the desired results from their marketing efforts, whether it be indoor or outdoor, they realize that the expenses were worth the returns. Video walls are indeed beneficial for large-scale marketing; the more you use it, the more effective and unique it becomes.
2. Rise in virtual events
Due to the Covid-19 pandemic, and everyone being resorted to isolation in their own homes, LED technology came to the rescue in providing a solution to keep the global market and economy running. There was a sudden boom in the virtual world where meetings and conferences began happening online. LED video walls placed in conference rooms are a great help in cases where international colleagues have to be part of a meeting/conference and are unable to travel. With the big screen, it feels almost like they are present in reality! As a result, people have become more and more comfortable in working through their screens, hence global LED video walls will continue to be on the rise.
Cross border training programs, concerts and awards also began taking place via virtual products due to the pandemic. The main performance takes place on a stage (locally) and the event is relayed online across several parts of the world, for anyone who is interested in being a part of it. Outdoor LED video walls are used to display these events in other geographical areas where interested groups can view the performance together. The increase in market size for outdoor cinemas and home theatres as a result of the pandemic has also led to an increase in the market share for LED video walls.
Marketing is a costly campaign! Whether you are looking at online campaigns, television, radio, or print media, you have to put in a lot of money if you want to target a large market. Also, these have a specific time frame, and you have to pay more if you want the advertisement to be renewed. Video walls have a very long lifespan, the longest in contemporary society, making it a very cost-effective solution. You don’t have to create new banners, commercials, or keep paying owners to run your content; just focus on innovative videos related to your product/service and that should be sufficient to attract a large client base.
While businesses are concerned about the heavy costs of an LED video wall investment, the massive amount of exposure you can achieve with this technology in a short span of time easily offsets the cost. Although video walls have been around for decades, with its increased growth and usage over the past few years, we can confidently predict a reduction in costs, making them affordable for more businesses and industries.
4. Interactive functions
Interactive video walls are a show stopper at store entrances because they are able to demand so much attention from your walk-in customers! Greet both customers and employees as they enter the store; use Bluetooth technology to introduce personalized greetings that detect the name of the person walking into the store.
The interactive functions of a video wall can make all the difference for your company. Customers feel an urge to purchase products when the item is personalized to their liking. They can browse through the configuration of the products on the interactive big screen, giving them a feel of holding the actual product in their hands.
Whatever questions or information customers need about a product, they’d prefer to take action through the video wall rather than wait for a salesman to assist them.
5. Effective dissemination of information
Larger LED screens are visible by a larger audience. As a result, LED video walls have the ability to reach a massive audience. Distribution of information is very effective when displayed on a video wall. In addition to product/service information, organizations can effectively disseminate other essential real-time information such as emergency alerts, weather and news updates.
6. Rise in Augmented Reality
Many businesses are using LED Video Walls with Augmented Reality (AR) at bus stops to increase customer engagement and at clothing stores to allow customers to see how a dress would fit them without actually trying them on. News channels also use interactive video walls to present news forecasts! Sporting arenas are incorporating video walls to interact with fans and enhance their sporting experience. The primary objective behind these efforts is to increase customer interaction, customer satisfaction, and consequently a wider customer base.
7. Need for data collection and analysis
When customers interact on an LED video wall, retailers have the opportunity to gather valuable data about customers. As a result, they can provide more relevant products and services, which will lead to better conversion rates.