Digital Signage in Real Estate

Part
01
of seventeen
Part
01

Digital Signage in Real Estate - Residential Real Estate

Digital signage is being used in the residential real estate verticals to offer space-as-a-Service, and also to help clients to "light up" their residential properties at a low cost. Real estate verticals are offering services that range from residential "real estate to commercial and multifamily" real estate. Digital signage gives residential real estate landlords some advantages over manual signs such as instant updates functionality, customized designs, flexible layouts, and the use of restorable backups.

DIGITAL SIGNAGE: USE/FOCUS IN RESIDENTIAL REAL ESTATE

  • Digital Signs are the latest secret weapons used by commercial real estate landlords to engage tenants in communications and also monetize the digital space.
  • Without the need for photoshop editing, digital signage allows commercial real estate landlords to update new listings using easy-to-update fields with new names, room numbers, floor locations, etc. Digital signs are used to display and reflect any saved updates made from dashboards such as Openhwy.
  • According to Openhwy digital directory, some advantages digital signage gives landlords when used in residential real estate over manual signs include instant updates functionality, customized designs, flexible layouts, and the use of restorable backups.
  • When used by residential real estate operators, digital signage provides an avenue to track home energy consumption such as residential electricity consumption and deliver feedback to the users "via mobile app, email, or text" thereby increasing user awareness and encouraging conservation.
  • Digital signage is used to "share information" between commercial and residential real estate operators and their tenants or visitors.
  • In a property market that is becoming more competitive, many landlords want their apartments/buildings to operate with an edge over their competitor's apartment buildings, or offices. New generations of digital natives are joining the group of residential real estate and expecting digital. Traditional residential real estate buildings are adapting by using digital signage to charge-up windows, lobbies, as well as "reception areas of commercial and residential" real estate.
  • Digital signage is used to by residential real estate operators to "automated digital advertising" process using large, "high-resolution images" or videos to attract attention in public locations and reach more residents than the results they would have obtained if the internet or Facebook were used. Over 80% of customers have walked into a store location due to a digital sign that caught their interest.

DIGITAL SIGNAGE: USE CASES IN RESIDENTIAL REAL ESTATE VERTICALS

  • When used in residential real estate, digital signage gives a massive marketing opportunity "that cuts across various verticals." It presents a scalable, high-growth business model when used by residential real estate verticals.
  • Today, digital signage is being used among residential real estate verticals to offer space-as-a-Service, and also to give clients an ability to "light up" their residential properties at a low cost. Real estate verticals are offering services that cover from residential "real estate to commercial and multifamily" real estate.
  • Matterport is a residential real estate vertical that provides "an end-to-end platform" for fast and easy creation, understanding and distribution of 3D advert models using digital copies of real-world arrays (arrangements) using the internet (web), mobile, AR, as well as VR applications.
  • Matterport uses over one million 3D models obtained from the real-world environment and has the world's largest database of 3D displays around the globe. Its artificial intelligence-based computer vision technologies power the vertical operator to produce digital copies of physical spaces.
  • Matterport has been named among the top three by a Silicon Valley (a California-based) Business Journal of Top 50 Fastest-Growing Private Companies in the World. The customers of Matterport have produced over one million 3D renderings in 90 countries, and the digital copies of these spaces have been viewed over 400 million times.
  • Matterport has experienced a four-digit revenue increase/growth within the last three years, through the ample expansion opportunities consequent from its technology offering.
  • Matterport has expanded across EMEA and APAC, and has also commenced expansion across "different verticals beyond residential real estate" diving into commercial and multifamily real estate, design, architecture, engineering, construction, insurance, travel, hospitality, among other industries where there is an increasing demand for data offering mobile, automobile, as well as financial services.
  • Katerra is a California-based transformative technology company. Katerra leverages on its supply chain/ERP platforms to integrate and optimize at scale prefabricated construction of commercial estate using "smart building" technologies.
  • Aquicore is a Washington DC-based "asset operations" platform for the commercial real estate (CRE) sector. The SaaS platform is a vertical operator that provides seamless real-time intelligence for buildings.
  • Aquicore also provides analytics and process automation solutions to drive higher NOIs. It also promotes favorable cap-rates through a system of reducing structural operating expenses as well as streamlining the daily management routines of CRE operators.
  • Aquicore is a unique platform and allows institutional, commercial real estate investors, as well as operators, an opportunity to utilize a single software in creating scalability, flexibility, as well as implementing end-to-end management of building operations workflows.
  • Enrollment with Aquicore's product typically takes a 30 to 60-day implementation process covering the deployment of Aquicore's sensor network. The sensor network streams unique and real-time information to customers. Aquicore is ahead of its competitors by developing a self-installation system that can "offer a bedrock technology necessary" to visualize the future of complete autonomous buildings.

RESEARCH STRATEGY

Our researchers reviewed recent and credible innovative idea publications such as McKinsey & Company, Openhwy digital directory, etc. McKinsey revealed that when used by residential real estate operators, digital signage provides an avenue to track home energy consumption. Tracked consumables include residential electricity consumption, etc., and delivers feedback to the users "via mobile app, email, or text," thereby increasing user awareness and encouraging conservation. Insights obtained from Openhwy digital directory revealed how digital signage is used in the residential real estate vertical. Due to limited publications on how to utilize digital signage in commercial real estate, we expanded our scope to cover a slightly older than the 24-month usual credibility range. We included a Screen Cloud publication (screen capture available here). According to Screen Cloud, traditional residential real estate buildings are adapting by using digital signage to charge-up windows, lobbies, as well as "reception areas of commercial and residential" real estate. We have assumed that a commercial real estate vertical describes a real estate company that controls more than a single stage of commercial real estate spectrum of services, and sometimes controls the entire products.
Part
02
of seventeen
Part
02

Digital Signage in Real Estate - Retail

Companies such as Nordstrom, Sephora, and Rebecca Minkoff have effectively adapted the use of digital signage to drive sales, reduce rates of returns and exchanges, and improve customer experience in-store. Innovative digital signage technologies such as "smart dressing rooms," assistant selling tools, digital storefronts, and virtual kiosks are adept at attracting and engaging new customers to drive the growth of the retail vertical.

Overview of Digital Signage Use in Retail Vertical


Promotion of Buying Products


Enhancing Atmosphere and Customer Experience

Digital signage may also be used to display stores' opening hours and corporate identities and provide directional guidance, in-store advertising, and screens near point-of-sale to enhance the atmosphere and experience for customers.
Improving the customer experience through use of digital signage could facilitate the conversion of a casual consumer to a brand loyalist.
Other digital signage technologies that could enhance shoppers' experiences include smart dressing rooms and shelving, touch screen kiosks, or assistant selling tools.
Assistant selling tools are an important asset to stores as they serve the dual-purpose of freeing up in-person retail associates to support more customers while also performing up-selling activities through product recommendations and promotion of add-on items and packages.
The cross-selling and up-selling of digital selling tools allows for a significant boost in sales without the need to hire additional staff.
Examples of brands that successfully enhanced the customer shopping experience include Nordstrom, Sephora, and Rebecca Minkoff.
Nordstrom's "Digital Denim Doctor" assistant selling tool utilizes "360-degree imagery and intelligent programming and filters" to provide personalized recommendations to shoppers on the ideal denim style for their body type, lifestyle preferences, and fabric preferences.
Similarly, Sephora's "ModiFace Digital Display" allows customers to virtually try-on cosmetic products without the clean-up and reducing the rate of returns and exchanges for the brand.
Lastly, Rebecca Minkoff's smart dressing rooms bring a full catalog experience into stores, allowing customers to request additional clothes and sizes into the dressing room and to adjust the ambient lighting of the room to their preferences.

Part
03
of seventeen
Part
03

Digital Signage in Real Estate - Healthcare Properties

Healthcare has embraced the use of digital signage through the use of interactive kiosks, digital information boards, and digital screens. Three healthcare providers that have embraced the technology are Novartis Pharmaceutical, the Holzer Clinic, and the Mayo Clinic. The areas where digital signage is having the most impact include health promotion, patient check-in, waiting areas, and in the communication of important information to patients and staff.

INTERACTIVE KIOSKS

  • The use of interactive kiosks is becoming more prevalent as healthcare professionals seek to speed up the intake process. Patients can provide a vast amount of information through an interactive kiosk.
  • Interactive kiosks are used extensively in many hospitals. They have been found to reduce costs, reduce waiting times, create easier methods of payment, decrease patient confusion, and reduce errors.
  • This frees up staff to deal with other important tasks and increases efficiency.
  • Interactive kiosks in waiting rooms can enable families to make inquiries regarding the patient they are waiting for. This means staff are not tied down answering questions.
  • It also alleviates the stress of the people waiting if they have a clear idea of where the patient is and how long they are likely to be.
  • By using interactive kiosks to their full potential, healthcare facilities can obtain key information regarding patients. This is useful in terms of overall patient demographics.
  • They have also been used to screen patients. This ensures at-risk patients are identified and dealt with appropriately.
  • Interactive kiosks enable patients to schedule their appointments. This means appointments are more likely to be adhered to as the patient has control over the date and time.

DIGITAL INFORMATION BOARDS

  • One of the most frustrating times for a patient is the time spent in the waiting room. Digital information boards give patients an idea of how long the wait is likely to be.
  • Important health-related content can be provided by digital information boards. This reminds patients of the importance of screening programs, wellness tips, or treatment procedures.
  • Digital information boards are used in hospitals and healthcare centers to direct patients to the right department. This creates efficiencies in ensuring that patients get to the right place at the right time.
  • Digital Information boards can be used to introduce patients to the healthcare team that is currently on duty.
  • In an emergency, digital information boards can provide key information to the public or those waiting to be treated. In emergencies, this is invaluable as all staff need to concentrate on the more important aspects of their jobs.
  • Digital information boards are also used to direct staff. They provide a quick and easy way to ensure key messages are made available to staff.
  • For example, if a meeting location needs to be changed, staff can be notified quickly and efficiently without the need to contact each attendee individually.
  • Digital Information Boards are used in healthcare to market and advertise certain services. These information boards can be orientated towards particular health groups or can be general.
  • When various healthcare organizations are fundraising, digital information boards have been used to maximize public exposure to the fundraising efforts and promote public engagement.

DIGITAL SCREENS

  • Waiting to see a doctor can feel like an eternity. Many healthcare providers are using digital screens to provide engaging content to patients why they wait. When the mind is occupied, the wait time is perceived as being shorter.
  • This decreases patient frustration and anxiety.
  • Providing more upbeat and lighthearted content has also been shown to decrease anxiety by patients regarding their appointments. They are likely to be more relaxed when they see the healthcare professional.
  • Important health-related content is also provided on digital screens through the use of short videos. This content educates patients around certain health-related topics.
  • Short videos introducing patients to healthcare professionals working in a particular setting serve to create a connection for the patients. They create a degree of familiarity, which can help minimize the stress of consulting with someone they have never previously met.
  • Digital screens are consistently used to introduce new staff to a healthcare facility and to provide ongoing training as to their role.
  • Training for current staff around certain pertinent topics is often completed through the use of digital screens.

BENEFITS TO STAFF

  • The strain on staff is minimized, and resources can be used to the maximum potential. Qualified staff can focus on the tasks they are trained to do rather than administrative work.
  • Digital signage decreases the demands on staff to provide ongoing updates about patients or waiting times. This enables them to do the work they are trained for.

AREAS OF FOCUS FOR HEALTHCARE

  • The use of digital signage is useful across all aspects of healthcare.
  • They have gained increased use in areas where patients are required to wait for services such as Emergency Rooms or Family Medical Practices.
  • Larger organizations, across all spectrum of healthcare, have found them useful in informing staff and ensuring that staff are kept up to date with valuable company information.
  • The use of interactive kiosks has found to be particularly useful in high-pressure environments such as the Emergency Room as it allows the staff resources to be utilized efficiently and to maximum potential.
  • Surgical Departments have found digital information boards to be useful in allocating theaters and informing other healthcare professionals as to where patients are and the procedures being undertaken.
  • Digital Information Boards are also used throughout the wards in hospitals to enable patients to be easily accounted for. This assists in admission and discharge planning and the allocation of hospital beds.
  • Although digital signage is particularly useful in these environments, the use is not restricted to these areas, and new and innovative ways of using digital signage to maximize patient outcomes are being found in healthcare daily.

NOVARTIS PHARMACEUTICALS

  • Novartis Pharmaceuticals researches, develops and manufactures a range of prescription drugs that are used to treat a wide range of diseases and conditions. It is one of the leading pharmaceutical companies in the US.
  • Novartis Pharmaceuticals has a campus encompassing 15 buildings over 200 acres in New Jersey.
  • One of the difficulties that the company had was ensuring staff received key information regarding the company, different events, including training and benefits.
  • Initially, they adopted the use of foam core posters, which they circulated throughout the campus.
  • They found that this process was not only costly but time-consuming when the messages needed to be changed.
  • The company adopted the use of digital signage to allow real-time communication with staff across the entire campus.
  • Not only does it provide key current information, but the company developed a series of short informative videos. These videos are approximately 1 minute and run on a loop when other content is not being displayed.
  • They are key in getting information regarding aspects of the company's business to employees. The cost of designing and printing signs was reduced by 90% through the introduction of digital signage.

HOLZER CLINIC

  • Holzer Clinic has headquarters located in Exton, Pennsylvania. It has a staff of over 100 physicians and a support staff of over 800.
  • It operates in 9 different locations in the Southeast Ohio River Valley. It's services cover 8 counties across 3 different states.
  • Holzer used digital signage to develop and screen "Holzer Clinic TV". They use a network of digital signs to get their health messages to their patients.
  • One of the key factors in developing Holzer Clinic TV was to alleviate the stress of dealing with certain aspects of the patient journey from staff and enable them to concentrate on their core responsibilities.
  • The health messages are universal and are played across the 9 locations simultaneously. 
  • The use of the digital screens has been maximized, so those with poor vision or those hard of hearing do not miss out on the message. The size of the screens and the use of closed captioning ensure this.
  • The use of these digital screens proved to be highly cost-efficient and has seen staffing resources utilized to their full potential.

MAYO CLINIC

  • The Mayo Clinic has placed 51 interactive kiosks throughout its campus in Rochester, Minnesota.
  • These kiosks fulfill a wide range of functions.
  • They allow patients to check-in online, verify their insurance details, verify and update their demographic information, electronically sign forms, and make payments as required.
  • The Associate Dean for Connected Care, Steve Ommen said "For many of our patients, this will streamline their check-in. Patients can answer pre-appointment questionnaires and sign authorizations at the kiosks."
  • The Mayo Clinic is clear that the use of these kiosks is not to replace staff, rather support them. Patients using the kiosks free staff up to assist with the more complex patient check-ins.
  • The use of the kiosks has allowed the streamlining of processes and enables the information collected to be instantly available to the range of healthcare professionals across the campus.

RESEARCH STRATEGY

We extensively searched a range of scholarly articles and publications to determine the impact digital signage is having on the healthcare sector. We expanded our search to include industry publications and articles, so we could best determine how digital signage was being used. We considered the areas of the healthcare sector where it was being put to best use by considering various articles and publications relating to specific areas of healthcare. Finally, we searched the aforementioned resources to find examples of healthcare providers who have adopted digital signage and how it has impacted on their businesses.
Part
04
of seventeen
Part
04

Digital Signage in Real Estate - Schools

Digital Signage has been described by some, as the future of education. Digital information boards, interactive kiosks, digital smartboards and digital screens are four ways the educational sector is maximizing the benefits of digital signage. Digital Signage is used in all areas of education, including elementary schools, high schools, school districts, colleges, and universities.

GENERAL FINDINGS

  • Digital signage has been used extensively throughout the education sector to create enriched learning environments and modern classrooms.
  • One of the key issues for schools has been getting pertinent information to all the students promptly.
  • Digital signage allows a centralized approach to this task. They are proving to be the most effective and time-efficient way of ensuring that students are aware of all the information they need to be successful.
  • Keeping the student body up-to-date has been an almost impossible task. Digital signage has proven to be an excellent solution to the issue.
  • The uses range from administrative, to educational, to promotional.

DIGITAL INFORMATION BOARDS

  • Schools have adopted digital information boards to display school news, educational videos, and important announcements to students throughout a range of buildings on their campuses.
  • Many schools have adopted digital information boards in their cafeterias to display the menu and pricing information. The ability to easily and quickly update the information is particularly useful in this setting.
  • Many schools have adopted the use of digital information boards to inform students of key information, timetable changes, and general announcements. The use of technology in this manner ensures that all students are aware of information that is pertinent to their school-day.
  • Some campuses have used digital information boards to display campus merchandise. 
  • They have also been key in distributing course-related information to the students, especially around key dates.
  • When various educational organizations are fundraising, digital information boards have been used to maximize public exposure to the fundraising efforts and promote public engagement.
  • In an emergency, digital information boards can provide key information to both students and their families. In emergencies, this is invaluable as staff need to concentrate on the more important aspects of their jobs.
  • Digital information boards are used so extensively in the education sector that their absence in a particular school or educational institution has led people to question whether the students of those institutions are receiving the appropriate information.
  • Using this technology has also had flow-on effects in the reduction of paper and printing costs. They are seen as a more environmentally friendly way to distribute information.

INTERACTIVE KIOSKS

  • Interactive kiosks are a way of delivering specific information to a specific student.
  • At a range of college and university campuses, students can log on to these kiosks using their student identification numbers or cards and receive course-related announcements and content specific to them.
  • The responsibility of checking for this information is that of the student. The staff, however, can be confident that students have received the information they need to be successful.
  • The level of functionality streamlines the student experience. This ranges from reducing the time it takes to enroll in certain courses, to purchasing tickets for major events on the school calendar.
  • Interactive kiosks also provide an easy and user-friendly way for students to pay outstanding accounts. They eliminate the need for cash in many instances.
  • The use of interactive kiosks in the classroom is also gaining popularity. These can be particularly useful in delivering educational content to students that have learning difficulties or may struggle with verbal skills.
  • One of the advantages of interactive kiosks in the classroom is the ability of the teacher to control the content. Some teachers have found this to be an issue when students are using their personal screens, which allow easy access to non-educational materials.
  • Students being able to access key information out of normal business hours, is another reason colleges are adopting the technology.

DIGITAL SMARTBOARDS

  • Digital smartboards allow the teacher to present the lessons on an electronic blackboard. These smartboards hold several advantages over the traditional blackboard.
  • Lessons can be prepared in advance and updated during class. They enable the teacher to use the time in the classroom more efficiently and deliver the curriculum in a logical and precise manner.
  • They also ensure that all the students have the opportunity to read and review the material.
  • Another advantage of smartboards is the information is available for students to download and review on their own devices out of class.

DIGITAL SCREENS

  • In some schools, digital screens have been used to create video walls in both student and teacher areas. These screens are used for both educational and entertainment purposes.
  • The way education is delivered to the students has evolved. The Socratic method of teaching has lost popularity.
  • Both teachers and students are looking for ways to maximize learning opportunities. Engaging the students and encouraging interaction is important.
  • Delivering the curriculum in a way that ensures the student remains attentive and understands is key.
  • The use of digital screens in the classroom allows an interactive approach to learning. Their use has grown at an unprecedented rate in recent years.
  • Digital screens allow educational content from a wide range of sources to be made available and distributed to the students.
  • Students no longer have to read about what the experts say they can hear from them. The use of video and digital media has become increasingly popular in the educational sector.

HIGHER EDUCATION

  • The University of South California has adopted the use of digital signage to provide the student body with relevant information around commencement and other major events occurring on campus.
  • They have found it to be an efficient way in which to ensure students are made aware of key information.
  • Freemont College uses digital signage across the campus to share messages for not only the students but the staff as well.
  • Harvard University makes use of a range of digital signage. It has found the interactive kiosks particularly useful in administration, where they have allowed students and staff to deal with a range of issues promptly.
  • The University of the Pacific School of Dentistry is relying more heavily on interactive kiosks to automate the enrollment process. This has enabled them to save on the cost of staffing over particularly busy periods.

SCHOOL DISTRICTS

  • The use of digital signage is not just restricted to individual schools, colleges, or universities. 
  • Many school districts have adopted the use of digital signage to ensure that messages are broadcast simultaneously across the entire school district.
  • This ensures all students and staff are aware of important information.
  • The Palmdale School District is an example of this.
  • Digital signage enables them to get messages to all 30 schools in the district.

NORTH VALLEY BAPTIST SCHOOL

  • The North Valley Baptist School is a small private school in Silicon Valley. 
  • It has a specific purpose. The purpose is to prepare the students for the Christian Ministry.
  • This school has used digital signage to promote its message and the unique character of its school.
  • The school is small, so it uses digital signage to promote inclusiveness and the feeling of a close community. Leslee Hussen, one of the senior staff members at the school, has emphasized the importance of digital signage in making the students feel comfortable and included in the school environment.
  • Staff and student achievements, birthdays, and other key dates are recognized on digital noticeboards throughout the school.

RESEARCH STRATEGY

We extensively searched a range of scholarly articles and publications to determine the impact digital signage is having on the education sector. We expanded our search to include industry publications and articles, so we could best determine how digital signage was being used. We considered the areas of the education sector where it was being put to best use by considering various articles and publications relating to specific areas of education. Finally, we searched the aforementioned resources to find examples of education providers who have adopted digital signage and how it has impacted on their businesses.
Part
05
of seventeen
Part
05

Digital Signage in Real Estate - Hospitality

3Digital signages are used for a variety of reasons in the hospitality/hotel vertical including to check-in/out of hotels, creating a positive first impression, wayfinding and event information, hotel menus, in-house promotion, and advertising, as well as for multilingual communication. Some use cases of digital signage in the hospitality vertical include readerboards, digital menu boards, virtual concierges, and check-in/out kiosks.

USES OF DIGITAL SIGNAGE IN THE HOSPITALITY/HOTEL VERTICAL

1. Checking In/Out

  • Hotels use digital signages for quick and easy for check-in and checkout processes in hotels.
  • In fact, after a long day of traveling, most guests would love to access their room without any interaction at all.
  • Digital signage enables guests to check themselves in with easy-to-use interactive displays and kiosks that facilitate speedy processes and shortens the queue for other guests.
  • In restaurants, digital signages have transformed the way guests order food.
  • Findings from a recent study show that about 55% of travelers would be more likely to stay at a hotel that offers digital self-check-in kiosks.

2. Wayfinding & Event Information

  • Digital signages are also used by hotels and resorts to provide information about events venues, amenities, and restaurants through wayfinding kiosks and displays.
  • Guests feel comfortable with their surroundings when they can navigate with ease within such premises.
  • The displays provide a powerful directional system to help guide guests to wherever they need to go through step-by-step instructions which are much more attention-grabbing.
  • For convenience, they also come with additional information like start times, speakers, locations, and more.
  • Wayfinding kiosks help cut down on guests requiring staff assistance, allowing employees to focus on the job at hand and increasing productivity.

3. Positive First Impression

  • According to an article by Daniel Waldron, which highlighted why digital signages are a hit in the hospitality industry, digital signages positively influence guest perceptions by delivering an extraordinary first impression.
  • For instance, it is common to find guests forming an opinion on a hotel within the first 10 minutes of their arrival. As such, players in the hotel/hospitality industry incorporate digital signage displays to ensure that guests perceive their destinations as modern and luxurious.
  • It also applies to other hospitality venues like spa facilities and restaurants.
  • Digital signage in restaurants also helps to establish that feeling of sophistication and modernity that many guests have come to expect from the hospitality industry.

4. In-House Promotion & Advertising

  • The resorts, hotels, and restaurants industry utilize digital signages to inform customers of their latest and greatest deals and promotions through digital displays around the property.
  • By promoting available on-site product and service offerings, amenities like spas, wine tastings, in-room dining experiences, on digital displays, guests at hospitality venues are intrigued and subsequently influenced to make purchases that translate to increased profits.

5. Digital Signage for Menus

  • Restaurants and food services in hotels benefit from digital signages through digital menu boards.
  • Digital menus boards allow guests to order for themselves without interaction, thereby cutting down on time spent in queues.
  • Industry statistics show that 74% of restaurant-goers cite the importance of an easy-to-read menu as their priority.
  • With digital menu boards, menu items are displayed in crisp, clear images that make them look mouth-watering.
  • According to research, digital menu boards facilitate a quick ordering process, reduce waiting times, and ultimately deliver an enhanced experience for all restaurant guests.

6. Digital signage for multilingual communication

  • In the hotel/hospitality industry, guests come from different parts of the world, and digital signages come in handy in cases of language barriers.
  • They allow for multilingual communication enabling customers to check-in/out, find local restaurants, order taxi, or view event information in any language.

USE CASES OF DIGITAL SIGNAGES IN THE HOSPITALITY INDUSTRY

1. Readerboards

  • Readerboards, as a use case in hospitality for Hotels and resorts, function as a visual display board of information from which guests are informed about experiences that they can take part.
  • Readerboards display real-time information, such as upcoming events and their locations.
  • An example of a company using reader boards is the Best Western® Hotels & Resorts which has rolled out a project to install digital signage displays within the lobby of every Best Western hotel property in North America.

2. Virtual Concierges

  • Virtual concierges as a type of digital signage are utilized in the hospitality industry as a self-service system, allowing guests to explore the property without the help of hotel staff.
  • It enables wide-screen displays of local attractions, promotions, amenities that make it easy for guests to explore hotels and resorts on their own.
  • For example, Sheraton Overland Park utilizes virtual concierges, and according to Justin Miller, Director of IT and Security at the park, they have seen "really positive response to the signs from both guests and staff.

3. Check-In/Check-Out Kiosks

  • Check-In/Check-Out kiosks are a type of digital signage that allows guests to check-in and out for hotels on their own.
  • Guests are prompted to select their preferred language and identify themselves with their booking confirmation number.
  • Airlines are also part of the hospitality industry. Self-service check-in kiosks are prevalent in most US airports.
  • American Airlines and Southwest Airlines now offer new self-serve kiosks for passengers to check-in their own luggage.

4. Digital Menu Boards


RESEARCH STRATEGY

To compile information on how digital signages are used in the hospitality/hotel vertical and some use cases, we leveraged industry publications, expert blogs, market researches, and relevant reports from which we retrieved useful insights. We cross-referenced multiple sources and included ideas that were common across various sources, and that were mostly discussed by experts. To corroborate our findings, we included articles which demonstrate examples of companies in the US hospitality industry, that have utilized some digital signages in their operations. 
Part
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Part
06

Digital Signage in Real Estate - Banking

Digital signage in banks goes beyond driving an excellent customer experience that can strengthen a bank’s ability to deliver better results, improve internal processes and address any gaps in communication; it is used in advertising and promotions, lobby informatics, performance measurement and employee communication, among other things. Complete details of the deep dive into digital signage in the US banking sector are presented below.

USES OF DIGITAL SIGNAGE IN THE BANKING VERTICAL

1. ADVERTISING AND PROMOTIONS

  • Using digital signage window displays like Ultra High Brightness Monitors allow banks to capitalize on passing foot traffic to advertise services which show vibrant images and videos. Digital Signage is much more eye-catching than traditional signage methods.
  • Digital Signage in advertising reduces paper, waste and printing costs. It replaces outdated and messy posters and brochures.
  • Digital boards can increase customer engagement by leveraging a bank’s existing customer database by focusing on telling stories of how its products and services have helped its customers.

2. LOBBY EXPERIENCE

  • Digital signage reduces perceived wait times by providing automated news, weather, etc. in order to entertain and inform waiting customers.
  • Banks like the automated nature of integrated touch screens, wherein customers are able to enjoy a fast, user-friendly and secure way to withdraw and deposit money and the reduced lines allow bank tellers to focus on customers who need more assistance.
  • Touch screen familiarity for bank customers is a comfort to them because it saves them time and provides needed information which is a major goal of digital banking.

3. PERFORMANCE MANAGEMENT

  • Interactive screens can help improve team cooperation, manage performance and strengthen corporate values.
  • Signage can also be used as a tool to recognize top performers.

4. CONFERENCE AND EVENT MANAGEMENT

  • Digital Signage displays can be switched to corporate channels during off-hours or in employee-only areas to display internal information and corporate training.
  • Digital signage for banks is an excellent tool to maximize the use of an organization’s meeting spaces where they can optimize their real estate space, providing employees with a more digitally-integrated office experience that delivers automatic and dynamic meeting room statuses.

5. VIDEO WALLS

  • Digital signage utilizes a variety of video wall configurations to deliver relevant branding and promotional information in an impactful way.

6. EMPLOYEE COMMUNICATION

  • Digital signage enables an exciting level of reach and synchronization between branches, allowing centralized management of content across the entire organization from a single point, instead of printing or shipping physical media, or relying on individual branch managers to create or refresh rapidly-outdated content.
  • Digital Signage streamlines and unifies communications across one or more branches by posting news and announcements in real-time.


USE CASES OF DIGITAL SIGNAGES IN THE BANKING INDUSTRY

SPECTRIO'S ADVERTISING SIGNAGES

  • Spectrio's digital signage is used for displaying info about loan programs via an electronic rates board and rotating through the latest promotions using a digital display; signage solutions can be used to promote branch services.
  • Bank clients who use digital signage are armed with the latest interest rates, checking account prices, and other useful details.
  • Spectrio's digital signage also connects with bank customers on a personal level by displaying local events, weather statuses, fun facts about the branch (or other related material), and more.
  • Countryside Bank, a community financial institution located in Countryside, Illinois, made it a priority to update its branch network with technology, and Spectrio used video walls, digital signage, and kiosk projects.

CINEPLEX DIGITAL MEDIA'S ATM AND IN-BRANCH COMMUNICATIONS

  • Cineplex offers digital solutions for ATMs, in-branch communications, and entertainment, working with bank customers going beyond traditional signage to create an "engaging and interactive experience."
  • Their innovative solutions drive transactions and improve the overall customer experience while customizing local messages to connect with consumers.
  • AT&T is working with Cineplex Digital Media to develop, install and operate a digital signage network for Citizens Bank, creating an immersive digital retail experience for the bank’s customers.
  • Branches will have screens with custom content, featuring topics like planning for retirement or managing student loans, as well as community-based activities. The screens will also provide local weather, news, sports, entertainment, and stock indices.

FWI'S Visual Communications Management

  • The FWI (Four Winds Interactive) platform is a communication channel in many branches and corporate headquarters.
  • Banks use it to create integrated campaigns that help serve members and share pertinent information within branches.
  • This is also used for staff, with screens dedicated to important employee-focused information.
  • Stanford Federal Credit Union uses the FWI platform which allows employees to focus on core job responsibilities. The related visual communications roadmap is used to plan content ahead of time ensuring that all of its communication channels are aligned.

Research Strategy:

We leveraged a combination of industry publications, expert blogs, market research and relevant reports and case studies to compile information on how digital signage is used in the banking vertical. We cross-referenced multiple sources and included useful insights that are common to the banking industry. These insights are mostly discussed by experts. To give support to our findings, we included articles which demonstrate examples of companies in the US banking/financial industry that have utilized digital signage in their operations. 
Part
07
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Part
07

Digital Signage in Real Estate - Transport

Digital signage is used in the transport vertical extensively at the terminals and also in transit. It is also useful in areas such as communication, GPS tracking, and advertising among others.

OVERVIEW

  • The transport industry was one of the first that had a roll out of digital signage.
  • Large crowds are best controlled with clear and up-to-date information that is displayed on digital signage.
  • Considering this is a highly viewed display, it is important that the digital signages are secure. Security from hacks and intrusion are of paramount importance.
  • Centralized communication enhances efficiency.
  • Digital signages are used in retail the most, followed by Transportation.

ARRIVAL, DEPARTURE, AND GATE INFORMATION

  • For several decades, transportation terminals such as airports and train stations have used digital signages.
  • These digital signages are also critical in the efficient communication to travelers.
  • Real time updates on changes can be communicated.
  • It efficiently communicates information in real time, making announcements of any changes or happenings.
  • It also directs guests to various amenities, hotels, and other transportation means as available.
  • Interactive installations enable travelers to have an optimized experience as they would determine their own information, which would guide them around the terminals.
  • Dynamic and animated maps can be very helpful in easing navigation around terminals.
  • Touchscreens are great in way finding.
  • The smartest cities in the world are now providing digital signages across their cities to assist people in their commute.

ADVERTISING PLATFORM

  • These terminals maximize on investment by placing adverts and complementary purchase/services on these signages.
  • Transit hubs are the most ideal place to launch branding campaigns due to the wide reach.
  • These platforms allow for dynamic content and are ideal for passing on messages/advertising brands.
  • The modern audience is more interested in rich media content rather than static posters. This is enhanced by the ever-changing use of technology such as smartphones. For this reason, digital signages present an opportunity for advertisers.
  • Digital signages can also be used to advertise upcoming changes to ensure that the public is informed.

IN-TRANSIT COMMUNICATION

  • Transportation such as buses, trains, and taxis are fitted with LED screens for communication when in transit.
  • These screens are entertainment platforms, marketing platforms, and communication platforms.

NEWS FEED DISPLAYS

GPS TRACKING IN DIGITAL SIGNAGE

  • GPS tracking in digital signage within the transportation industry can optimize the customer experience.
  • This is critical as customers constantly expect to be presented with the most relevant and most helpful information.
  • This is also helpful in presenting up-to-the-minute details of the journey.
  • GPS tracking is critical in ensuring that local news and community insights are delivered based on location.
  • This is also beneficial as one can run targeted/personalized adverts.
  • This is also critical as the service information can be displayed in real time within transit.

USE CASES

  • The following use cases have taken on using digital signages due to the impact it can have as listed above. The overview provided as well as the 5 other uses are reasons why digital signages are critical for any transport terminal and in transit systems as well.

WASHINGTON DULLES AIRPORT BY OUTDOOR MEDIA BUYERS

  • Out Door Media Buyers provide signages/marketing for various outdoor locations. One of these locations is airports. Their website provides a list of the airports and their various projects there.
  • This airport sees 21 million passengers annually, has the most international passengers compared to other airports in the Mid-Atlantic region, and it serves 125 domestic and international destinations.
  • 53% are male and 47% are female. The average passenger here has a household income of $134,592 and is 44 years of age.

AREAS

  • AREAS' main messaging on their website is "CATERING TO THE WORLD OF TRAVEL".
  • The company in charge of the digital signages is Netipbox.
  • Netipbox's main messaging is focused on their audience, but they take care of the rest.
  • This company partners with Netipbox technologies to generate the signages.
  • Areas is the leading brand in world travel catering.
  • This company operates 15 restaurants at Minneapolis-Saint Paul international airport.
  • This company provides smart digital signage from Netipbox Technologies.
  • This signage company provides the same across other franchises in other locations across North American airports, including Chicago, Los Angeles, Atlanta, Miami, Newark, Washington, Indianapolis, Orlando and Detroit.

NEW YORK AND TRUEFORM DIGITAL KIOSKS

  • Trueform Digital is a company that transforms spaces with digital signages. These vary from indoor signages all the way to transportation industry signages.
  • These kiosks have been designed to withstand extreme vandalism, extreme weather or heat conditions, and still very much visible in direct sunlight. These features ensure that they become an integral part of one's commute.
  • Trueform has a strong success record in delivering such products in the transport vertical.
  • Trueform's critical impact is ensuring that the New York Metro is transformed by critical transportation technology.
  • The New York Metropolitan Transportation Authority has gotten into a deal with Trueform to install digital kiosks.
  • These displays are called the "digital customer information totems" and will aid in the ease of access/transportation.
  • These digital kiosks include an outdoor digital screen. This screens will display live travel information such as train times/status, it will display local maps, and any additional messaging as well as advertising.

YOUR RESEARCH TEAM APPLIED THE FOLLOWING STRATEGY

Our research has focused on the uses of digital signages in the transport vertical in the United States. We also provide some statistics related to its uses at airports, GPS tracking, and communications among others.
Part
08
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Part
08

Digital Signage in Real Estate - Entertainment

Digital signage is used in the entertainment vertical to enhance customer experience and reduce perceived wait time, as well as help give out critical info instantly and up-sell and promote future events.

ENHANCEMENT OF CUSTOMER EXPERIENCE AND REDUCEMENT PERCEIVED WAIT TIME

  • This is done through the use of menu boards for example, to display specials and flash unique food prices and novelty items in movie theaters, concerts, sports events as well as in updating those prices in real-time to ensure that customers are aware of them.
  • By showcasing the features of the venue on the digital signage through images and video from previous and upcoming events, the minds of the audience is captivated thereby helping to spark ticket buying interests even further.
  • They are used to displaying engaging entertaining screen content in order to help reduce perceived wait times in the lobby of entertainment venues.
  • Through the display of suggested add-on purchases and services, they are also used to help introduce the customer to self-service ticketing kiosks.

TO HELP GIVE OUT CRITICAL INFO INSTANTLY

  • When there is a big sports event, like a baseball/football game, at the venue, sometimes there may be sudden changes that affects everyone from the players to the fans, hence they are used to inform everyone.
  • For example, if there is a chance of rain, digital signage displays are used to broadcast the current weather conditions.
  • To broadcast any type of time-sensitive information to employees and fans at sports events or concerts in keeping everything in order, especially if spontaneous changes occur.
  • If the artist is running late, info is switched on the screens within the establishment to let everyone know instantaneously.
  • Used also in employee communications to keep employees up to speed with HR announcements, company news, birthday announcements, and more in the back office and employee break areas.

SELLING AND PROMOTION OF FUTURE EVENTS

  • This is done by leveraging the screens to promote certain entertainment events and ramp up ticket sales for example to concerts or sports game.
  • Through their display they help show the schedules for the day and keep the customers informed of the happenings at the venue.

DISPLAYING THE SCORES IN SPORTS STADIUMS

  • As a fixture in sports facilities, with new technologies that enhance their value they are used to helping fans be aware of not only the scores but other crucial statistics about the players/ the game itself that they may be interested in.
  • They are also used to inform the fans on how many minutes of the game has been played and how many more are remaining as well as any technical fouls, ejections or injuries that occur during the game.

IMPROVEMENT OF OPERATIONAL EFFICIENCY-PRINTING AND SHIPPING STATIC MATERIALS

  • The use of digital signage displays, helps eliminate recurring costs that would have otherwise been used to print static materials which helps save the business money in the long run.
  • Through their digital displays, they significantly improve branding and messaging as opposed to the more conventional method of printing.

ASSISTING GUESTS NAVIGATE FACILITIES

  • Through a virtual concierge, their displays enables guests get the latest news, navigate a facility, and find local vendors.
  • They are also used to help reduce visitor friction by assisting them to quickly meet their needs and satisfy their objectives for visiting the entertainment venue.

WHERE THE ENTERTAINMENT VERTICAL IS FOCUSED ON IN RELATION TO DIGITAL SIGNAGE?

TOUCH SCREEN INTERACTIVITY

  • The entertainment vertical is focused on the enhancement of touch screen interactivity for example through digital signage in concert halls, movie theaters and sports arenas.
  • There is a growing trend whereby entertainment venues are starting to use digital touch screens to showcase available options to their visiting patrons via, surveys, games and even online browsing options that come with newly-displayed digital sign.

THE ENHANCEMENT OF CUSTOMER EXPERIENCE

  • The entertainment industry is usually characterized by fierce competition, it therefore becomes paramount to show audiences the commitment to the delivery a complete, fun-filled experience.
  • This is being done for example by the focus on the reduction of perceived wait times with entertaining screen content as well as the constant suggestions of add-on purchases and services at the ticket window and the introduction of self-service ticketing kiosks.

THE IMPROVEMENT OF DIGITAL SIGNAGE SYSTEMS

  • There is a greater focus on the improvement of signage systems through improved content management software, content integration and professional services to try to help enhance system efficiency in digital signage in order to boost sales and improve guest satisfaction.
Part
09
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Part
09

Digital Signage in Real Estate - Residential Real Estate TAM

While the total addressable market (TAM) of the digital signages' industry of the United States could not be determined, specifically the one for the residential real estate sector, we were able to identify that the market value of digital signage in the country was $4.18 billion in 2017. Additionally, we identified that 14% of the digital signage consumers use residential-grade displays, and an additional 12% is expected to start using it in the next two years.

USEFUL FINDINGS:

  • According to the report conducted by Grand View Research, the digital signage market in the United States reached a value of $4.18 billion in 2017.
  • The United States' digital signage market is expected to grow at a 6.5% CAGR between 2018 and 2025.
  • A few key players in the digital signage industry of the US are NEC Display Solutions of America, BrightSign, Planar System, Intel Corporation, and Keywest Technology.
  • About 14% of the digital signage consumers in the US are currently using residential-grade displays and 12% more are expected to start using it in next two years.
  • The latest study conducted by the US Census Bureau indicated that as of July 2018, there are about 138 million housing units in the United States.
  • As the community associations continue to replace the cork bulletin boards for digital signage, the digital signage businesses are becoming increasingly aware that they need to jump in on the residential trend, especially in apartment buildings and condominiums.
  • The top 5 uses of digital signage include Advertising, Content, Communication, Hardware, and Interactivity.


RESEARCH STRATEGY

To determine the total addressable market that the digital signages' industry has in the residential real estate sector of the United States, we began by analyzing different industry reports like the ones presented by Grand View Research, IBISWorld, and Markets and Markets, among others. Our objective was locating any data published about the TAM of digital signage in residential real estate, particularly about condos. However, while this search brought insights about the industry market size, growth, or the application of digital signage in the United States's market, it did not contain information about the total addressable market.

Our next strategy was to look for companies that offer digital signages in the United States to identify how they are implementing this service in different sectors like Hospitality, Retail, Residential, and if any information about condos or multi-unit housing. We looked for the information through sites like NEC Display Solutions of America, BrightSign, Planar System, etc. We considered that as the key players of the industry try to be aware of their market, they could have published information about the TAM for various sectors, like the residential real estate sector. With this in mind, we checked through their publications and reports, focusing on identifying how their business clients are categorized, and how different sectors are adopting it. Nevertheless, this strategy was futile as there was no information on the segmentation stats.

Our third strategy was to look for information on professional sites dedicated to the news and information about the digital signage industry like Digital Signage Today, and Digital Signage Plus, among others. We aimed to see if any of these publications have mentioned the digital signage market for Residential Condos or Multi-units. However, the information available was about the different trends in digital signage, its uses, etc. but not about the industry's TAM.

As our final strategy, we tried looking for segmentation charts of the digital signage market by verticals to find the percentage that the residential market represents and, if available, condos and multi-unit housing. Our objective behind this strategy was to use this percentage and triangulate it with the digital signage market size to calculate the real estate vertical market size and TAM. However, this search brought no information about the segmentation of the digital signage market, and it only gave us the general market size and CAGR.

Due to the lack of information on this topic, we have determined that there has not been any research conducted by an organization or a public study to indicate the TAM for digital signages in the residential real estate sector of the United States, particularly for condos or multi-unit housing. Lastly, we located an industry report that estimates the residential vertical total market on Risemedia. Although, is only available through payment, contains additional valuable information about the industry.


Part
10
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Part
10

Digital Signage in Real Estate - Retail TAM

The total addressable market (TAM) for digital signages in the retail vertical across US is estimated at $40 million as of 2017.

TAM for the Digital signages across US (estimated):

  • The total addressable market (TAM) for digital signages in the retail vertical across US is estimated at $40 million as of 2017. [estimated]

Research Strategy:

Calculation:

TAM for the Digital signages across US:

  • Mark Hemphill estimated the revenue opportunity for digital signage across US retail in 2017.
  • The calculations were based on the total number of US stores (1 million) in 2017 and then multiplied it by an estimate for the average revenue.
  • In this case, the monthly subscriber fee ($40), which ScreenScape Digital Signage charges their customers, is used as an estimate for the average revenue.
  • As such, we were able to calculate that the 2017 TAM was $40 million (1 million x $40= $40 million). (estimated)

Explanation for choosing Mark Hemphill's estimation for TAM digital signage in US retail.

We considered this approach as it provided a probable TAM of digital signage in US retails. Mark Hemphill is the owner of ScreenScape, which is an online service for engaging audiences in real world places through digital displays. He used $40 (which is the subscriber fee they charge to retail stores per month for providing digital signage solutions). This was a very close figure (though not exact) that could be assumed as an estimated fee per month that digital signage providers are charging to US retail. To further ensure that the figure is correct, we checked the digital signage website to confirm the fee price. Because the data was given for North America (US+ Canada), we were only able to figure out the 2017 US TAM. Checking under Retail Establishments , we found that in 2017 there were 1 million retail establishments in the US. Multiplying that number by $40 gave us the TAM for digital signages in retail across the US.



Part
11
of seventeen
Part
11

Digital Signage in Real Estate - Healthcare TAM

Digital signage today shares various resources and publications related to the usage of digital signage for building communities and internal communication in the healthcare sector.

US DIGITAL SIGNAGE MARKET -HEALTHCARE

  • The US digital signage market size was valued at $4.18 billion in 2017. It is expected to post a CAGR exceeding 6.5% during the forecast period of 2018–2025.
  • Healthcare sector is one of the key end-use sector of digital signage in the US," which is used for displaying promotional and informative content in the form of images, graphics, design collateral, videos, and creative advertising on digitized displays."
  • The 32 to 52 inches segment of digital signage size is increasingly being adopted with high demands in healthcare and other sectors in the US.
  • NEC Display Solutions of America, BrightSign, Planar System, Intel Corporation, Keywest Technology, among others, are some of the key players in the US digital signage market.
  • According to the American Hospital Association, there are 6,210 of hospitals in the country.
  • NEC Display solutions with 57% business in the US is one of the key players in digital signage, including for healthcare domain.
  • The digital signage healthcare market is still relatively small as compared with more mature segments, such as digital signage for higher education and the broader corporate office market.
  • The segment is starting to make headway as hospitals and other facilities seek to bolster communications with patients, visitors, and employees.
  • Hospitals are deploying digital signage systems in lobbies to communicate with audiences in various parts of a hospital, using it internally, corporate communications, and in emergency rooms.

OTHER INFORMATION

  • Seven out of ten hospitals in the US provides digital messaging systems, with 50% of the healthcare executives expect digital signage to disrupt the industry.
  • The future trends in digital signage do not highlight the healthcare industry as to benefit the most from digital signage over the next two years.
  • The digital signage today shares various resources and publications related to the usage of digital signage for building communities and internal communication in the healthcare sector.

RESEARCH STRATEGY

To obtain the information on the total addressable market (TAM) for digital signages in the healthcare vertical in the US, we searched for pre-existing or pre-compiled information from scouring through various Digital signage market industry reports, news articles and publications from sites like Grand View Research, IBIS World, MarketsandMarkets, eMarketer, among others. Through the search, we could find paid reports sharing the insights on the US digital signage industry along with related information on the inclusion of healthcare industry as one of the growing segment in the domain and insights articles sharing insights that the digital signage healthcare segment is still in it infancy and growing at a slow pace in the sector. Additionally, the information on the type of signages gaining popularity in the healthcare sector and number of various healthcare organizations/hospitals was funded (6000+), but no relevant information related to TAM of digital signages in the healthcare vertical in the US was found

As no pre-compiled information could be found, we further tried to triangulate the information by looking through the key players in the maker that offer digital signages in the United States and to the healthcare sector. Through this search, we tried to find the adoption of digital signage by healthcare in the United States that may support in calculating the estimated TAM of the market. For the same, we looked for information on sites like NEC Display Solutions of America, Mixdigital Solutions, BrightSign, Planar System, among others. We then checked their publications and reports to review the segmentation of their business clients to find the adoption of the digital signages by various sectors, including healthcare. However, this strategy did not work as there was no information on the segmentation stats. The digital signage future trends report published by NEC also did not provide any insights on the healthcare industry to be benefiting the most from digital signage over the next two years.

Next, we tried to evaluate the TAM based on the calculation, which requires (Total number of accounts x (Annual Contract Value) for estimating the total addressable market. To gather this information, we tried to look through the particular sites dedicated to the digital signage industry like Digital Signage Today, Digital Signage Plus, among others, which could provide insights on the publications and resources that could provide the overall industry. Through the search, most of the information available was related to the healthcare digital signage implementation processes and publications alone, with resources on its usage in various areas of internal communications in the healthcare sector, but relevant data to support in estimating the TAM was available.
Also, as most of the earlier searched industry reports and digital signage companies publications did not provide any particular data on the segmentation or market share of consumers from healthcare segment, the components to calculate the TAM was not possible. This is assumed due to the reason that the penetration of digital signage in the healthcare sector is still at a very low pace and most of the companies are largely catering to the huge sector such as education and retail and are more focused on these areas.
Part
12
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Part
12

Digital Signage in Real Estate - Schools TAM

While there is no publicly available information to estimate the total addressable market (TAM) of digital signage in the education vertical, the research team used available data to pull together some helpful details that may be valuable in a broader understanding of the market. Below is an outline of our research strategies to better understand why the information requested is publicly unavailable, as well as a brief report on the findings.

Helpful findings

  • There was a total of 132,853 educational institutions in the US in 2016.
  • The average cost of a digital signage panel is $3,511.
  • The digital signage in the educational sector is expected to grow at a CAGR of 10.4% until 2021.
  • The indoor segment of the digital signage market holds the largest market share and is expected to keep growing. This includes digital signage use in schools, among other things.
  • In educational institutions, digital signage panels are used for informative purposes rather than advertising.
  • In schools, smaller signage screens under the size of 30 inches are used the most.

Research Strategy:

The research team decided to start the research using market reports, we were searching for information on the size of the US digital signage market within the education vertical. We applied our focus on the market size because we hoped to find the US digital signage market size in education industries and use it as a proxy. To find the market size, we searched for various US market research sites such as Technavio and Reuters. While the US digital signage market size was available, information specific to the education vertical was paywalled. Also, we did find market reports that focused on digital signage in education but they did not focus on the US market. 

These strategic endeavors did help us identify the CAGR for the US digital signage market. With that detail, we opted to search for information on the projected US education digital signage market size, to triangulate the current market size using CAGR data. To find the future market size, we searched market research sites looking for projected market data, but all we were to obtain was information on the global education digital signage market and the US general signage market; no information specific to the US education digital signage market was available.

Next, to find information on the TAM, we decided to search business and financial reports, from leading vendors in the education digital signage space, to locate relevant insights since these kinds of sources likely report the market and might disclose their information publicly. To locate the key players in the education digital signage industry, the team used a Technavio market report. After searching through each of the key players' (ADFLOW Networks, Cisco Systems, NEC Display Solutions, Samsung Electronics) financial and other business reports, we were able to determine none provided any information regarding the total education digital signage addressable market. Instead, they rather focused on their company market shares and other irrelevant data.

The research team also searched for the following data points: (1) number of educational institutions in the US, (2) the average number of digital signage panels per US school, and (3) average cost of a digital signage panel. The first two data points would be used to determine the total number of panels in educational institutions in the US. The total number of panels in educational institutions would then be multiplied with the average cost per panel, to get the total US market size for digital signage in education. To find this information, the team consulted industry reports, statistical databases (e.g., Statista) and government statistical sources that focus on education (e.g., National Center for Education Statistics). The only data point we were not able to find was the average number of digital signage screens per school, such as digital boards. Because of this, we were unable to move forward with the TAM calculation.

As a final effort, we attempted to triangulate the TAM using the rate of the market the education vertical occupies and the US digital signage market size. To find the percentage of the market that the educational vertical takes up, we searched US market reports (e.g., MarketsandMarkets and Grand View Research), looking for market segmentation charts by industry vertical. Again, the closest we were able to get was a chart that portrayed industry demand for digital signage in comparison to video walls. Because these market reports are mostly paywalled, relevant segmentation charts weren't accessible.
Part
13
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Part
13

Digital Signage in Real Estate - Hospitality TAM

No information is available on the total addressable market (TAM) for digital signages in the hospitality/hotel vertical in the United States in the public domain. Below is an overview of the information that was available.

HELPFUL FINDINGS

United States Digital Signages in Hospitality/Hotel Vertical

  • In the United States digital signages market, the hospitality/hotel vertical is one of the segments covered by application outlook. The "Digital Signage Market Size Analysis Report" is one of the reports on the internet with useful information on this topic.
  • According to Global Market Insight, the increasing popularity of technically advanced promotions and advertisements in the retail and hospitality sector are driving growth in the digital signage market.
  • Product demand is created as a result of high consumer interest. The high consumer interest is a result of "high investments in advertising and display-based promotion activities from the retail & hospitality sector".

Global Digital Signages in the Hospitality/Hotel Vertical

  • In Asia Pacific, in the hospitality/hotel vertical the digital signages market is estimated to overtake Europe's market. Due to the increasing number of hospitality businesses in the region (like shopping malls and multiplexes) the market share in this vertical for this region is expected to continue increasing.
  • In one market analysis report, some topics included are interactive menu boards which would lead to high growth for the hospitality/hotel vertical, the fast penetration of non-interactive menu boards, a complete overview of Asia's dominance in the hospitality/hotel vertical of digital signages market, a complete overview of France's dominance in the hospitality/hotel vertical of digital signages market, and information about the high demand for digital signages in the hospitality/hotel vertical. However, this report is behind a paywall.
  • The use of digital indoor signages is growing as a result of "immersive and highly interactive display technologies." Hotels are frequently using signages with this technology and therefore contributing to its growth.
  • The global digital signages market in the hospitality/hotel vertical is expected to continue its growth. Improved screen size (52-inch) displays are expected to grow in popularity.

Research Strategy

To find the requested information, we sought data in articles, news reports, journals, magazines, and other publications (such as Forbes, The New York Times, US Today, US Magazine, CNBC, NBC, among others). We were expecting to find information on the total addressable market (TAM) for digital signages in the hospitality/hotel vertical in the United States. However, we mostly found information on digital services in many industries, globally.

Next, we tried collecting information from the statements made by hospitality industry experts in the United States in interviews, surveys, media coverage, guest appearances, press releases, among others. We were expecting that these hospitality industry experts would give their outlook, views, comments, and insights regarding the digital signages market in the hospitality/hotel vertical and how this specific marketing strategy reshaped the hospitality industry. We were successful in finding these types of sources, however, they did not provide relevant information or useful data points that could help us triangulate the total addressable market.

Last, we tried triangulating the requested information using the market analysis reports available. We were planning to identify key players that significantly contribute to the global digital signages market in the United States, search for their revenues, and calculate the total addressable market using the identified global digital signages market size in the previous request. However, we only found information on three players, which is not enough data to calculate a robust total addressable market (TAM). We also found that the revenues of key players are not publicly available. With insufficient data, we were unable to triangulate the information.

Most of the information available on this topic is behind a paywall and could therefore not be presented.


Part
14
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Part
14

Digital Signage in Real Estate - Banking TAM

The total addressable market (TAM) of the banking vertical of the US digital signage market is estimated to be 244,666 bank and brokerage offices, which include 89,096 bank offices and 155,570 brokerage offices. These 89,096 bank offices and 155,570 brokerage offices are the potential customers (TAM) of the banking vertical of the US digital signage market. We could not find the segment TAM in terms of revenue in the public domain after a thorough and wide-reaching search through multiple sources.

BANKING SECTOR TAM

  • The Total Addressable Market (TAM) is defined as "everyone you wish to reach with your product" by LivePlan, while CFI Education Inc, defined it as the "total available market".
  • The banking vertical comprises the bank and brokerage offices.
  • The total addressable market (TAM) of the banking vertical of the US digital signage market is estimated to be 244,666 bank and brokerage offices.
  • There are 5,362 banking institutions in the United States with a total of 89,096 offices as of first quarter of 2019.
  • The number of financial brokerage offices in the US is currently estimated to be 155,570 as of July 2019.
  • The US banking institutions spent $14 billion in 2017 on marketing.
  • According to Grand View Research, the banking sector of the US digital signage market is a prominent segment in terms of application. The vertical is expected to consistently grow at a steady rate from 2018 to 2025.
  • The widespread presence of banks, ATMs, and other banking facilities such as e-banking centers are some factors driving the growth of the banking segment.
  • The segment is predicted to accounts for a sizable share in the US market from 2018 to 2025.

DIGITAL SIGNAGE MARKET OVERVIEW

  • The United States digital signage Total Addressable Market (TAM) in terms of revenue in 2018 was $4.44 billion and is expected to hit $4.73 billion in 2019.
  • The United States digital signage TAM is predicted to reach $6.90 billion by 2025.
  • The United States digital signage market is predicted to grow at a CAGR of 6.5% from 2018 to 2025.
  • The global digital signage market size was $18.55 billion in 2018, and it is predicted to reach $31.71 billion by 2025, at a CAGR of 8.0% from 2019 to 2025.
  • In terms of shipments, the global digital signage market shipped 3.5 million units in 2018 and is expected to reach 6.451 million units by 2025.

RESEARCH STRATEGY

Your research team leveraged publicly available data points found regarding the US digital signage industry after a thorough and wide-reaching search through reputable media sources, market reports, and authoritative agencies such as Financial Industry Regulatory Authority (FINRA), American Bankers Association (ABA), Federal Deposit Insurance Corporation (FDIC), Grand View Research, IBISWorld, PwC, PR Newswire, Statista and Market Watch, the TAM of the banking vertical in the US digital signage market could not be found preexisting in the public domain, the information is locked behind a paywall. However, leveraging publicly existing data (total number of bank and brokerage offices in the US), we were able to triangulate the TAM of the banking vertical in the US digital signage market in terms "potential customers/buyers" as outlined below:
The banking vertical consists of the branch banks and brokerage offices.
TAM of the banking vertical in the US digital signage market = number of bank offices + brokerage offices TAM of the banking vertical in the US digital signage market = 89,096 bank offices+ 155,570 brokerage offices = 244,666 bank and brokerage offices.

Next, to find information on the TAM in terms of revenue, we decided to search business and financial reports, from leading vendors in the banking digital signage space, to locate relevant insights since these kinds of sources likely report the market and might disclose their information publicly. To locate the key players in the education digital signage industry, the team used market reports by Grand View Research, ResearchandMarkets, and Technavio. After searching through each of the key players' (NEC Display Solutions, Samsung Electronics, ADFLOW Networks, Cisco Systems) financial and other business reports, we were able to determine none provided any information regarding the total banking digital signage addressable market. Instead, they rather focused on their company market shares and other not helpful data.

The research team also searched for the following data points: number of bank and brokerage offices in the US, the average number of digital signage panels per bank or/and brokerage office, average cost of a digital signage panel, and the average spend on digital signage by bank or brokerage office. The first and fourth data points or first, second and third data points would be used to determine the total addressable market in the US in terms of revenue. While we were able to find the total number of bank and brokerage offices in the United as well as the average cost of digital signage panels, information regarding the average number of digital signage panels per bank or/and brokerage office and the average spend on digital signage by bank or brokerage office could not be found after a thorough search through industry reports, statistical databases (such as Statista) and government statistical sources that focus on bank and brokerage (such as FINRA, ABA, and FDIC). Hence, we were unable to move forward with the TAM calculation.
Part
15
of seventeen
Part
15

Digital Signage in Real Estate - Transport TAM

In the United States, the current total addressable market (TAM) for digital signage in the transport vertical is an estimated $518.02 million.

ESTIMATED TAM

  • It can be inferred from Grand View Research's recent report on the United States digital signage market that:
  • The transport vertical is a growing segment that digital professionals should watch closely.
  • The rise of both smart cities and urban living is expected to bring more opportunities for growth in the transport segment.

RESEARCH STRATEGY

In determining the TAM for digital signage in the country's transport vertical, we first checked if there are articles or industry reports that readily provide the information. We were unable to find any, but we found that Grand View Research has recently published a report on the United States digital signage market and that this report contains the size of the market's transportation segment. Even though this particular information is behind a paywall and is not readily available in the public domain, it can be estimated from the bar chart Grand View Research has provided in its report summary. Since TAM pertains to the total revenue opportunity or the revenue a company can generate if it has a 100% market share, we looked at the current size of the entire transport segment.

The few details provided by the aforementioned bar chart were enough for us to be able to triangulate the TAM. Using a ruler and the concept of 'ratio and proportion', we were able to determine how the height of each bar on the chart relates to the market size. The size of the United States digital signage market in 2015 was $3.73 billion, and on our screen, this size is represented by a bar that is 18 mm high. This means that each millimeter on the chart represents around $207.2 million.

If the size of the United States digital signage market in 2019 is represented by a bar that is 23 mm high, it follows, as can be seen in the computation below, that the size of the United States digital signage market in 2019 is around $4.77 billion.
$3.73 billion/18 mm = $0.2072 billion/mm = $207.2 million/mm
($207.2 million/mm) x 23 mm = $4.7656 billion

Similarly, if the size of the transportation segment of the United States digital signage market in 2019 is represented by a bar that is 2.5 mm high, it follows, as can be seen in the computation below, that the transportation segment accounts for around 10.87% of the United States digital signage market and the TAM for digital signage in the transport vertical is around $518.02 million.

2.5 mm/23 mm x 100% = 10.87%
$4.7656 billion x 10.87% = $518.02 million

Given that the size of the transport segment by 2025 is represented by a bar that is 4 mm high, it can be estimated as well that the TAM for digital signage in the transport vertical will grow to around $828.80 million by 2025. The CAGR during the period 2019-2025 will be an estimated 8.15%.

$207.2 million/mm x 4 mm = $828.80 million
((($828.80 million/$518.02 million)^(1/6))-1) x 100% = 8.15%

Height measurements may vary from one screen to another depending on the screen size and the zoom setting, but since ratios were used, the end results should remain the same.
Part
16
of seventeen
Part
16

Digital Signage in Real Estate - Entertainment TAM

After thorough research, we were not able to ascertain the total addressable market (TAM) for digital signage used in entertainment venues in the US. However, we were able to determine that the digital signage market in the US is valued at USD 20.8 million.

Helpful Findings

  • The US digital signage market is currently valued at USD 20.8 million.
  • Of the industry verticals, the commercial vertical is expected to see the fastest increasing adoption of digital signage products.
  • Hardware, which includes screens and video walls, is expected to keep dominating the digital signage market.
  • Additionally, indoor application of digital signage, which includes usage in sports stadiums, holds the biggest share of the market and is expected to keep leading the market.
  • In the entertainment vertical, there is a slightly larger demand for digital signage than video walls.
  • In the US, it is estimated there are 2 million digital signs and the numbers are growing by 20% annually.
  • The cost of deploying digital signage averaged $3,511 per screen in 2012, which includes hardware, software, media player, mounting brackets, installation and three years worth of maintenance.

Research Strategy:

In order to determine the total addressable market (TAM) for digital signage used in entertainment venues we commenced the research by searched for existing information on digital signage in entertainment venues market size in the US. We intended to find the total US market size of entertainment venue digital signage since this would be essentially same as the total US addressable market for digital signage used in entertainment venues, and use this information as a proxy. Therefore, we searched for market reports that focus on the subject under investigation. We searched various US market research sites such as Grand View Research, Markets and Markets, etc. We also searched for relevant business publications on reputable databases such as Business Insider, Forbes, etc. Unfortunately the search did not provide any relevant results.

Next, we decided to search for digital signage US market reports, including segmentation charts of digital signage market by verticals to find the percentage of market entertainment venues take up. The percentage would then be used together with the digital signage market size, to calculate the market size of digital signage in the entertainment vertical. The calculated digital signage in the entertainment market size would then be used as a proxy for the total addressable market for digital signage in entertainment vertical, as explained in the first research strategy. To find the market reports, we searched market research sites such as Deloitte, Digital Signagef Federation, etc. However, this strategy also has failed to produce any relevant results. The only relevant data that we were able to obtain was related to estimated of the vertical of the entertainment industry. Unfortunately, this data was locked behind a paywall. Additionally, we were also able to obtain a chart that compared digital signage with video wall demand in the entertainment vertical though it failed to directly provide relevant details to the subject under investigation.

We then decided to manually calculate the total addressable market using the "Bottoms up" approach. As a guide for the calculation, we used this source for this strategy. There, it was stated that the TAM can be calculated by performing the following calculation: (Total # of Accounts) x (Annual Contract Value [ACV]) (Source 1). In order to perform this calculation, we searched for: [1] total number of digital signage screens in entertainment venues in US (such as sport venues, concert halls, casinos etc.) and [2] the average hourly, daily or weekly cost of advertising per digital signage screen in the US (in order to determine how much this costs yearly). To find this information, we searched digital signage industry reports, on sites such as Digital Signage Today and Commercial Integrator. This attempt failed because no information was available regarding either of the two required data points. Even after searching for the total number of digital signage screens individually in sports venues, concert halls and so on, no relevant information was available. Besides, the information regarding advertising cost focused on general costs regardless of where the screen is located, such as the average weekly cost of digital billboard advertising.

In a second calculation attempt, we decided to find the average number of digital signage screens per US entertainment venue, the total number of entertainment venues in the US, and the average retail cost of a digital signage panel. Our objective here was to estimate the number of digital signage screens in US entertainment venues by multiplying the average number of screens per venue with the number of venues in the US, then moving forward with the calculation using the method outlined in the first strategy. Ultimately, we were able to find the average cost per a digital signage panel, but both the average number of screens per entertainment venue or the total number of sports stadiums, concert venues and other entertainment venues in the US wasn't available. To find this information, we searched databases, publications such as Worlda Atlas etc, but the available information focused on irrelevant things such as the biggest sports stadiums or the number of concerts per year.

As a last resort, we decided to check financial and business filings from companies that provide digital signage solutions. The idea behind the strategy was that the companies know the market well and likely know the total addressable market in the entertainment vertical, and may disclose the desired information publicly in their business reports. After scanning through various business reports, from companies such as Visix and Daktronics, we were able to determine that no information on the total addressable market has been disclosed publicly, with available information focusing on things such as their market share.
Part
17
of seventeen
Part
17

Digital Signage in Real Estate - Return on Investment

While the overall ROI of digital signages that are used in the United States could not be determined, specifically the one for the residential real estate verticals, we were able to identify that the educational sector is expected to grow at a CAGR of 10.4% until 2021.

HELPFUL FINDINGS

  • According to Digital Signage Today, digital signage should be calculated in terms of return on involvement instead of return on investment. There should be a focus on "specific goals for individual communications or campaigns by looking at qualitative feedback, behavioral changes, and business outcomes." 
  • As community associations continue to replace the cork bulletin boards for digital signage, digital signage businesses are becoming increasingly aware that they need to jump in on the residential trend, especially in apartment buildings and condominiums.
  • A report from Digital Signage Today indicates that digital signage is boosting customer experience in the real estate sector.
  • According to a report from Martech Outlook, digital signage software has great potentials in the real estate industry. "But this innovative technology is just beginning to boom."
  • According to Grand View Research, the banking sector of the US digital signage market is a prominent segment in terms of application. The vertical is expected to consistently grow at a steady rate from 2018 to 2025.
  • The healthcare sector is one of the key end-use sectors of digital signage in the US, "which is used for displaying promotional and informative content in the form of images, graphics, design collateral, videos, and creative advertising on digitized displays."
  •  The transport segment accounts for an estimated 10.87% of the United States digital signage market in 2019.
  • According to Global Market Insight, the increasing popularity of technically advanced promotions and advertisements in the retail and hospitality sector are driving growth in the digital signage market.
  • In the entertainment vertical, there is a slightly larger demand for digital signage than video walls.
  • The digital signage in the educational sector is expected to grow at a CAGR of 10.4% until 2021.

RESEARCH STRATEGY

To ascertain the overall ROI (Return on Investment) of digital signages used in the various real estate verticals in the United States, we began by analyzing different industry reports from Grand View Research, IBISWorld, and Markets and Markets, among others. Our objective was locating any data published about the ROI of digital signage in residential real estate, particularly about residential real estate, retail, healthcare properties, education/schools, hotels/hospitality, banking, transport, and entertainment venues. However, while this search brought insights about the industry market size, growth, or the application of digital signage in the United States's market, it did not contain information about the ROI of the market.
We reasoned that professional sites which are dedicated to publicizing news, blogs, and articles about the digital signage industry would provide information on the financial investment or profits made in the real estate digital signage space. The team examined digital signage today, digital Signage Plus, and more. Our focus was to determine if any of these publications have mentioned the ROI for the digital signage market in the US for the various real estate verticals, or the financial investment and profit made to this sector. Unfortunately, the information available was about the different trends in digital signage, its uses, etc. A source from Digital signage today stated that Digital signage should be calculated in terms of return on involvement instead of return on investment, but not the industry's ROI.
Finally, we tried to triangulate the information by looking through the key players in the maker that offer digital signages in the United States and to the various real estate verticals mentioned above. Our aim was to find the investment and profits they have made on digital signage in the residential real estate, retail, healthcare properties, education/schools, hotels/hospitality, banking, transport, and entertainment venues in the United States. This approach was to enable us calculate the estimated ROI of the market. We reviewed sites such as NEC Display Solutions of America, Mix digital Solutions, BrightSign, Planar System, among others for their publications and reports on the various sectors of real estate digital signage. However, this strategy did not yield any positive results as there was no information on the investments or profit made by these key players. The search only gave the general market size and CAGR for digital signage.
Due to the lack of information on this topic, we have determined that there has not been any research conducted by an organization or a public study to indicate the ROI for digital signages in the residential real estate sector of the United States.
Sources
Sources

From Part 08
Quotes
  • "DIGITAL SIGNAGE BENEFITS IN ENTERTAINMENT - Up-sell & promote future events - Remotely update entire networks centrally to ensure consistency across entire facilities - Enhance customer experience and reduce perceived wait time - Eliminate recurring costs associated with printing and shipping static materials. - Help guests navigate facilities and find what they are looking for easily."
Quotes
  • "Showcase the Venue Captivating audiences is the name of the game in the entertainment industry. To showcase images and video from previous and upcoming events, and spark your ticket buyers’ interests even more."
  • "Touch Screen Interactivity Concert halls, movie theaters and sports arenas have hundreds of signage displays installed. There is a trend of entertainment venues starting to use digital touch screens to showcase options to their visiting patrons via games, surveys, and even online browsing options that come with newly-displayed digital sign"
  • "Give Out Critical Info Instantly When there is a big event--like a baseball game--at your venue, sometimes there may be sudden changes that will affect everyone from the players to the fans. For example, if there is a chance of rain, displays can be used to broadcast current weather conditions. This is also great for flashing special prices for food and novelty items."
Quotes
  • "Digital Signage Scores in Sports Stadiums Digital displays have long been a fixture in sports facilities, but new technologies are making them even more valuable"
Quotes
  • "Digital signage in entertainment are used by marketers to tailor messaging to fit current audiences by employing an agile messaging strategy, where marketers try out ads, promotions and screen content, assess how it’s resonating with visitors and adjust in real-time using fact-based data."
  • "With fierce competition in the world of entertainment, it’s important to show audiences of the committment to delivering a complete, fun-filled experience. For example, at the ticket window reduce perceived wait times with entertaining screen content, suggest add-on purchases and services or introduce self-service ticketing kiosks. From movie theaters to amusement parks, entertainment venues have a lot of moving parts, and digital is proven to improve operational efficiency while reducing visitor friction, helping to quickly meet business objectives."
Quotes
  • "Summary - Kings Dominion needed to upgrade their Picnic Pavilion with digital signage to replace electronic reader boards - The new displays welcome visitors to the pavilion and provide information about current and upcoming events - Project included 10 Xhibit signage systems, content management software, content integrations and professional services - Kings Dominion recorded an increase in group sales and noted improved guest satisfaction from park visitors"
Quotes
  • "High impact, flexible digital signage and big screen solutions are seeing increased use in leisure and entertainment industries, helping to both entice and inform customers, and enhance visitors’ experience."
Quotes
  • "Landmark Theatres is the largest art house movie theater chain in the United States. They currently have 58 theatres in 23 markets. A number of locations have a digital signage network with high-definition content delivered to the screens located throughout."
Quotes
  • "Pala Casino Resort and Spa set out to revamp the way it distributes video content throughout its facility. The casino’s legacy PC-based video multicast solution was limited to 480p content, and a rash of reliability issues was brought about by overheating PCs, dust-clogged fans and pesky Windows errors. Pala Casino chose Red Dot Digital Media to spearhead a massive overhaul of its video network."
From Part 14
Quotes
  • "The global digital signage market size was estimated at USD 18.55 billion in 2018 and is anticipated to reach USD 31.71 billion by 2025, at a CAGR of 8.0% from 2019 to 2025."
  • "This growth is accredited to the increasing demand for digitized promotion of products and services so as to attract the target audience in an effective manner. In terms of shipments, the market was estimated at 3,500 thousand units in 2018 and is expected to reach 6,451 thousand units by 2025."
  • "Banking sector is another prominent application segment for the technology, attributed to the widespread presence of banks, ATMs, and other banking facilities such as e-banking centers. The segment is anticipated to exhibit growth at a steady pace over the forecast period and should keep on contributing consistently to the global share."
Quotes
  • "The U.S. digital signage market size was valued at USD 4.18 billion in 2017. It is expected to post a CAGR exceeding 6.5% during the forecast period."
Quotes
  • "The U.S. digital signage market size is anticipated to reach USD 6.90 billion by 2025, according to a new report by Grand View Research, Inc., rising at a CAGR of 6.5% during the forecast period. "
Quotes
  • "The statistic shows the value of the digital signage market in the United States from 2018 to 2025. The source projected that the market size would grow to 6.9 billion U.S. dollars in 2025 growing at CARG of 6.5 percent between 2018 and 2025."
Quotes
  • "The global digital signage market size is predicted to attain USD 31.71 billion by 2025"
  • "The market is expected to witness a CAGR of 8.0% over the forecast period, owing to increasing demand from end-use industries, which prominently include retail and healthcare, is anticipated to propel the growth. In terms of shipments, the market was estimated at 3,500 thousand units in 2018 and is expected to reach 6,451 thousand units by 2025."
Quotes
  • "Marketing spend by the top 40 banks reached nearly $14 billion in 2017, up 1.8% on average from the previous year–and once again, 5 banks spent over a billion dollars on marketing. "
Quotes
  • "The Total Addressable Market (TAM), also referred to as total available market, is the overall revenue opportunity that is available to a product or service if 100% market share was achieved. It shows the level of effort and funding that a person or company can put into a new business line."
Quotes
  • "TAM = Your Total Available or Addressable Market (everyone you wish to reach with your product)"
From Part 16
Quotes
  • "Total Addressable Market (TAM) is the total available opportunity for your product or services. It’s typically measured in terms of revenue, but can also be thought of as the total population of organizations that could become your customers."
  • "For example, suppose my beverage company sold lemonade at an average of $30 a case to vendors; they bought 50 cases per year, on average (ACV of $1500); and there are 1,000 vendors on the West Coast in total. I can calculate TAM for my lemonade: 1,000 vendors multiplied by $1500 equals a total market of $1,500,000."