In a Futuresource Consulting white paper, a study of nearly 100 such initiatives showed nine to have failed completely and another 10 were declared only partially successful.

The company found that although the hardware and software platforms were now available for many businesses to take advantage of the benefits of digital signage, major obstacles still stood in the way of the format replacing print and entering the mainstream.

In some of the projects studied, the fact eight different parties were engaged and a lack of metrics to measure success or failure made digital signage overcomplicated and impossible to measure the return from.

However, Futuresource Consulting said this is likely to change, with more plug and play devices coming on to the market and industry standards beginning to emerge.

Even so, it recommends a "temperate approach to market potential" of digital signage.

The survey polled senior decision makers responsible for signage and digital media networks in France, the Netherlands, Portugal and the UK.