Photo - LG signage in use
LG Electronics said it is deepening its focus on the fast- growing commercial display and TV signage segment, which is expanding rapidly in Malaysia, said the South Korean electronics and appliances provider.
New display technologies are attracting increased interest from Malaysian businesses in different sectors including retail, said LG Electronics Malaysia's managing director David Oh.
The development of more interactive features and integrated touchscreen capabilities are offering cost-effective ways for businesses to engage their customers, said Oh.
"In Malaysia alone, LG Electronics has experienced significant growth in the commercial display and TV signage segment with recent major customer wins in the quick-service restaurants and fashion industries," he said,
Oh cited recent research from industry and market analyst IHS Inc., which showed that many fast-food restaurants are employing digital signage to replace static signs with digital menu boards.
"The boards promote better customer engagement than static signs, while offering dynamic content and appealing visuals," said IHS director for signage and public information displays, Sanju Khatri. "Moreover, digital menu boards provide companies an opportunity to sell smarter by promoting new items, upselling higher-margin products and reducing inventory by making immediate changes to content for promotions or advertising."
Digital signage equipment growth
Khatri said the company's report expected that worldwide revenue for digital signage equipment, software, services and media is projected to experience a continued steady increase in revenue ranging from 4.7 to 5.6 percent. By 2017, total digital signage takings will amount to US$17.1 billion. The retail sector will make up close to 42 percent of total digital signage displays revenue from 2013 to 2017, especially in North American and Western European locations, with Asia-Pacific close behind.
"LG Electronics' wide range of screen sizes coupled with high quality image resolution plus simple customization and management tools allow Malaysian businesses to leverage commercial displays to suit their specific needs," said LG Electronics Malaysia's Oh.
Sign up for CIO Asia eNewsletters.