The U.S. digital signage market size is anticipated to reach USD 7.8 billion by 2027, according to a new report by Grand View Research, Inc., registering a 6.4% CAGR over the forecast period. The demand is expected to increase as advertisers, enterprises, and corporates are increasingly adopting this technology to promote and distribute content. Advancements in display technology are also likely to drive the market. Furthermore, increasing demand for digital signage solutions from industries such as healthcare, transportation, hospitality, and retail is likely to propel market growth over the forecast period.
The
growing adoption of this technology is due to the increasing demand for
advertising content with enhanced quality and better sharpness. Rising demand
for 4K embedded digital displays can be attributed to an increase in the need
for enhanced sharp images. Digital signage above 52 inches are poised to gain
popularity over the forecast period as advertisers are increasingly preferring
outdoor advertising.
Besides
this, software providers are engaged in providing design solutions that are
compatible with multiple operating systems to new entrants in the market. They
are particularly offering cloud-based design solutions that can aid in managing
advertising content displayed on digital signage.
The
operational cost of companies is reduced by cutting down the use of paper for
advertisements and deviating from traditional marketing activities. In
addition, a combination of LED-backlit panels is resulting in substantial
energy savings. A decrease in energy consumption owing to the adoption of
enhanced technologies, which includes LED, is attracting enterprises to opt for
digital signage.
West
U.S. accounted for the largest share in the market in 2019 and is estimated to
retain its lead through 2027. The Midwest region is projected to exhibit the
highest growth rate during the forecast period owing to burgeoning sales of
digital signage in multiple industry verticals across the region.
Some
of the prominent companies operating in the market are Cisco Systems, Inc.;
Intel Corporation; Microsoft Corporation; BrightSign, LLC; Keywest Technology,
Inc.; Planar System Inc.; Scala, Inc.; and Hughes Network Systems LLC.
Full Research Report On U.S. Digital Signage Market Visit Here:
https://www.grandviewresearch.com/industry-analysis/us-digital-signage-market
Further key
findings from the report suggest:
- On the basis
of display technology, the LCD segment commanded the leading share in the
market in 2019 owing to lower manufacturing cost and benefits associated
with LCD technology
- The retail
industry was the most prominent application segment in the U.S. digital
signage market in 2019. It is estimated to retain its position through
2027, as there is high competition in the industry, which augments the
need for an innovative advertising medium
- Based on
display type, transparent LED screens are projected to exhibit the highest
CAGR during the forecast period as a high level of transparency and
resolution offered by them proves to be lucrative for advertisers
- By component,
the hardware segment, which includes displays and media players, is
anticipated to dominate the market throughout the forecast period as users
remain keen on adopting different types of displays
- The out-store
location segment is expected to witness considerable growth through 2027
owing to the growing adoption of digital signage in various outdoor
applications
- The West
region was the highest revenue-generating region in 2019 owing to the
adoption of this technology across applications such as retail and
hospitality. The region is home to the largest number of companies
manufacturing electronic display products
- Prominent
players in the U.S. market include Panasonic Corporation of North America;
Cisco Systems, Inc.; Intel Corporation; Microsoft Corporation; and Planar
System Inc.
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About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
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