Digital signage is becoming a go-to solution for businesses looking to enhance their communication, promote their brand, and convey their message effectively. The global digital signage market is projected to reach a staggering USD 45.33 billion by 2030, indicating its growing popularity. Despite its widespread adoption, some businesses are still apprehensive about incorporating it into their marketing and communication plans, primarily due to the initial investment involved.
This article aims to debunk the myths surrounding the cost of digital signage and provide a comprehensive breakdown of the various expenses associated with it. We will delve into the factors affecting digital signage pricing, the long-term savings, and the potential return on investment (ROI) that businesses can expect.
Key Elements Influencing the Cost of Digital Signage
The overall expenditure of implementing a digital signage system encompasses installation charges, hardware components, software subscriptions, and IT support costs, among others. Let’s explore these cost factors in detail.
The Display Screen
The display screen is a significant part of the expenses involved in digital signage. Though it might be the most expensive component, the good news is that there are plenty of options available to suit different budgets.
Commercial vs. Consumer Display Screen
Businesses can opt for commercial-grade screens specifically designed for digital signage applications, or repurpose a household TV for cost-effectiveness.
While commercial displays can cost around $2,000, large TV screens compatible with high resolution and media players range from $500 to $1,500, depending on screen size and features.
When choosing between a commercial display and a TV, businesses should consider their signage requirements. Commercial displays are more durable and weather-resistant, making them an ideal choice for outdoor locations. On the other hand, TVs repurposed as digital signs are better suited for smaller, enclosed areas such as classrooms or lobbies.
Furthermore, if the majority of your content comprises videos or live streams, you might need a commercial display with superior processing power and faster refresh rates.
The size of the display screen directly impacts its cost. However, instead of opting for a smaller screen to save costs, businesses should consider the visibility and readability of the content relative to the screen size.
As a rule of thumb, the screen size should proportionately match the size of its intended location, available wall space, and viewing angles.
For businesses opting for commercial digital signage, there are various screen types available. These include touch-screen displays that offer viewer interactivity and video walls that combine multiple screens to display a single image.
The choice of screen type should align with the business requirements. Advanced digital signage options tend to be more expensive than basic ones, with costs ranging from $10,000 to $20,000, depending on the type of screen.
The Media Player
The media player is a vital component of a digital sign, enabling content streaming or display on the screen. Therefore, investing in a media player with good memory and fast processing speeds should be a priority.
Media players come in various feature sets and performance levels. Some are specifically designed for commercial digital signage, like the Nvidia Shield HDR Media Player, which costs around $200.
Other widely used and reliable options include:
- Fire OS: $30 – $80
- Raspberry Pi: $35 – $160
- Chrome OS: $150 – $700
- Windows: $50 – $300
- Android: $25 – $700
Businesses can also consider replacing a media player with a mini PC, depending on their digital sign setup. Although this might be a more expensive option, it can support more complex and advanced applications. Mini PCs cost around $100 for basic models and go up to $1,400 for high-performance units.
For businesses opting for a wired digital signage system, cabling is an essential consideration. While a 6-foot HDMI cable may cost as little as $13, visible wiring can be unsightly. Therefore, businesses might need to consider hiding them behind walls, which incurs additional renovation costs. Alternatively, they can explore wireless presentation systems to avoid cabling complexities and expenses.
Depending on the placement of the digital sign, its height on a wall, its angle, etc., businesses may need to invest in mounting hardware. The cost of screen mounts varies extensively due to the variety of options available in the market.
Commercial mounts typically cost upwards of $200, while consumer mounts can range from $50 to $150.
The cost of installing digital signage depends on the location, the scale of the signage system, and the complexities involved. Installation costs for small and simple digital signs, such as one or two-screen setups, can start at $200. Larger and more complex systems can cost between $2,000 and $10,000 to install.
Software & Licensing
Digital signage software is the platform for managing and optimizing content. Different providers offer varying features and functionalities, making it essential for businesses to choose the right software for their needs.
While digital signage software can be either cloud-based (SaaS) or non-cloud and installable, we recommend the former to allow businesses to rely on the SaaS provider for backend upkeep.
High-quality digital signage software typically starts at $7 a month for a single screen, with additional costs for any extra services.
The cost of content creation for digital signage varies greatly as it depends entirely on the content plan. For instance, static images and graphics are cheaper to create than interactive touch-screen content.
IT Support & Maintenance Personnel
Regular system upgrades and maintenance are crucial for digital signage due to its evolving technology. While most aspects can be managed without expertise, businesses may need IT support for more complex maintenance tasks.
Is Digital Signage Worth the Price?
Digital signage offers businesses an effective way to communicate their message, promote their products and services, and engage their target audience. The main advantage is that it’s sustainable, scalable, and easy to integrate into existing marketing or communication plans.
While the initial cost might seem high, digital signs can offer long-term savings and a strong return on investment. It’s vital for businesses to consider all associated costs and set a realistic budget for their digital signage investment.
Rise Vision offers a 14-day trial period for its cloud digital signage software. Sign up today and discover how digital signage can benefit your business.
- pexels-vlad-chetan-1838014: Pexels
- Digital Signage in New York: Writesonic