Million Insights - World's Fastest Growing Market Research DatabaseAccording to new report available with Million Insights, the U.S. digital signage industry research report provides insights on industry segmentation, scope, growth prospects, revenue driver & restraint. It also offers ready, data-driven answers to several industry-level questions.
The U.S. digital signage market is projected to reach USD 7.8 billion by 2027 and anticipated to grow with 6.4% CAGR over the forecast period, 2020 to 2027, according to Million Insights. The demand for technologically advanced digital signage in U.S. is increasing among corporate, enterprises, and advertisers to distribute and promote content.
Technological advancement in display technology is expected to boost the market growth in the U.S. In addition, rising demand for this technology from several end-use industries such as healthcare, retail, hospitality, and transportation to promote their products is anticipated to open new avenues for the market growth.
This display technology is gaining traction due to the rising demand for better advertising content along with enhanced quality. Additionally, 4K embedded digital displays demand is increasing due to the rise in the demand for improved sharp images. Above 52 inches, digital signage is expected to have robust growth over the forecast period due to rising demand for outdoor advertising.
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Software designers are focusing to provide advanced solutions that are compatible with all operating systems. They are engaged in offering cloud-based design solutions that can help in managing the advertising content on digital signage. This technology also helps to reduce the operational cost of companies by avoiding the usage of paper for advertising and avoid traditional marketing strategies. Additionally, LED-backlit panels works as an energy-efficient products. Thus, a decrease in energy consumption due to increasing penetration of advanced technology including LED is influencing the enterprise to opt digital signage.
In 2019, the West U.S. held the largest market share and expected to lead its position throughout the forecast period. The Midwest U.S. is projected to grow with the highest CAGR from 2020 to 2027 due to the rising adoption of digital signage in several industries. Major players operating in this market are, Cisco Systems, Inc.; Intel Corporation; Planar System Inc.; Keywest Technology, Inc.; Microsoft Corporation; Scala, Inc.; and Hughes Network Systems LLC; BrightSign, LLC.
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Further key findings from the report suggest:
• Based on display technology, LCD segment led the market, in 2019, due to several benefits associated with this technology coupled with low manufacturing cost.
• In application segment, retail application accounted for the largest market share, in 2019, and expected to retain its position throughout the forecast period. This growth is attributed to rising demand for innovative advertising strategies.
• On the basis of display type, the transparent LED screens are anticipated to register fastest CAGR over the forecast period, as it offers high resolution and transparency.
• Among components, the hardware segment is anticipated to lead the U.S. digital signage market, as users are keen to adopt multiple types of displays. Hardware components include media players and displays.
• The out-store location segment is expected to have considerable growth by the end of 2027 due to increasing adoption of digital signage for outdoor application in several industries.
• In 2019, the west region has generated highest revenue due to rising adoption of this technology across several industries such as hospitality and retail. This region is a hub, having large number of electronic manufacturers.
• The major players are Planar System Inc.; Panasonic Corporation of North America; Cisco Systems, Inc.; Microsoft Corporation; and Intel Corporation.
Million Insights has segmented the U.S. digital signage market on the basis of component, hardware component, display type, display technology, display size, software, application, location, and region:
U.S. Digital Signage Component Outlook (Revenue, USD Million, 2016 - 2027)
U.S. Digital Signage Hardware Components Outlook (Revenue, USD Million, 2016 - 2027)
• Media Players & Extenders
• Others (Mounting Devices & Components)
U.S. Digital Signage Display Type Outlook (Revenue, USD Million, 2016 - 2027)
• Video Walls
• Video Screens
• Transparent LED Screens
• Digital Posters
U.S. Digital Signage Display Technology Outlook (Revenue, USD Million, 2016 - 2027)
U.S. Digital Signage Display Size Outlook (Revenue, USD Million, 2016 - 2027)
• Below 32 Inches
• 32 to 52 Inches
• More than 52 Inches
U.S. Digital Signage Software Outlook (Revenue, USD Million, 2016 - 2027)
• Display Software
• Audience Analytics & Engagement Software
U.S. Digital Signage Application Outlook (Revenue, USD Million, 2016 - 2027)
• Stadiums & Playgrounds
U.S. Digital Signage Location Outlook (Revenue, USD Million, 2016 - 2027)
U.S. Digital Signage Regional Outlook (Revenue, USD Million, 2016 - 2027)
• New York
• North Carolina
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