The U.S. digital signage market size was valued at $2.57 billion in 2019, and is projected to reach $3.59 billion by 2027, growing at a CAGR of 4.3% from 2020 to 2027. Digital signage or dynamic signage is an electronic display that advertises contents, broadcast data, television programming, and other contents. Digital signs make use of various technologies including LED and LCD. They are found in both private institutions and public places such as retail outlets, restaurants, and corporate environment.
Digital signage depends majorly on hardware components to ensure the delivery of high-quality content. These displays have replaced the traditional small and micro-display screens with large wall-sized LED and LCD displays, used across various industries. They are designed for applications that require the vendors to engage their customers/audiences with its wider viewing angle and to extract maximum effectiveness from the marketing messages.
In the current business scenario, it is crucial to employ efficient systems for advertising, owing to the development of numerous user engagement devices and applications. Electronic signage is a cost-effective medium of promoting and branding any product or service; this advantage drives the market for electronic signage.
Decrease in cost of displays and improved customer experience are that factors that drive the digital signage market. In addition, development of government bodies as well as fast growing educational sector contribute toward the growth of the market. Technological developments including near field communication are expected to create greater opportunities. Advent of touch screen technology is expected to open new avenues.
Rise in demand for bright and power-efficient display panels and rapid digitalization and decline in demand for traditional billboards are the factors that drive the growth of the digital signage market trends. However, deployment of widescreen alternatives such as projectors and screenless displays and lack of standard policy and power problems hamper the digital signage market growth to a certain extent. Furthermore, emerging display technology such as microLED and quantum dots and increase in preference of electronic giants toward large-screen displays offer lucrative opportunities for the market in the country.
The digital signage market is segmented on the basis of component, location, and end user. By component, the market is categorized into hardware, software, services, and connectivity technology. On the basis of location, the market is categorized into indoor and outdoor. The end-users covered during the study are retail, education, healthcare, corporate, stadiums, government, and others.
TOP IMPACTING FACTORS
The significant impacting factors in the digital signage market include rise in demand for bright and power-efficient display panels, rapid digitalization and decline in demand for traditional billboards, and increase in demand for 4K and Ultra-HD Devices, However, deployment of widescreen alternatives such as projectors hampers the market growth.
Conversely, emerging display technology such as micro LED and quantum dots and increase in preference of electronic giants towards large-screen displays offer remunerative opportunities to the digital signage market. Each of these factors is anticipated to create digital signage market opportunity during the forecast period.
The key players profiled in the report include NEC Corporation, Sony Corporation, LG Electronics, Samsung Electronics, Panasonic Corporation, ViewSonic Corporation, Volanti Displays, iSEMC (HHSD), Koninklijke Philips N.V., and Planer System Inc. These key players have adopted strategies, such as product launch, expansion, and partnership to enhance their position in the digital signage market.
KEY BENEFITS FOR STAKEHOLDERS
? This study comprises analytical depiction of the U.S. digital signage market size along with the current trends and future estimations to depict the imminent investment pockets.
? The U.S. digital signage market analysis is determined to understand the profitable trends to gain a stronger foothold.
? The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
? The current U.S. digital signage market forecast is quantitatively analyzed from 2019 to 2027 to benchmark the financial competency.
? Porter’s five forces analysis illustrates the potency of the buyers and the U.S. digital signage market share of key vendors.
? The report includes the market trends and the market share of key vendors.
KEY MARKET SEGMENTS
- ·Media Players
- ·Management Software
- ·Content Creation Software
- ·Digital Signage Player Software
- ·Installation Services
- ·Maintenance & Support Services
- Connectivity Technology
By End Users
- NEC Corporation
- Sony Corporation
- LG Electronics
- Samsung Electronics
- Panasonic Corporation
- ViewSonic Corporation
- Volanti Displays
- iSEMC (HHSD)
- Koninklijke Philips N.V.
- Planer System Inc.