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
corporates, 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.
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.
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