The U.S. Digital Signage Market size is anticipated to reach USD 8.0 billion by 2028, according to a new report by Grand View Research, Inc. It is projected to register a CAGR of 6.0% from 2021 to 2028. The demand is expected to increase as advertisers, enterprises, and corporates are increasingly adopting digital signage to promote and distribute content. Advancements in display technology are also likely to drive the market. Furthermore, the increasing demand for digital signage solutions from the industries such as healthcare, transportation, hospitality, and retail, is likely to propel the market growth over the forecast period.
The growing adoption of digital signage is due to the
increasing demand for advertising content with enhanced quality and better
sharpness. The rising demand for 4K embedded digital displays is addressing the
increase in the need for enhanced sharp images. Digital signage above 52 inches
is poised to gain popularity over the forecast period due to their increasing
popularity among advertisers for outdoor advertising.
Besides, software providers focus on providing design
solutions compatible with multiple operating systems, to new entrants in the
digital signage industry. The design solution providers target new entrants
with solutions compatible with different operating systems. They are
particularly offering cloud-based design solutions that can aid in managing
advertising content being displayed on digital signage.
The operational cost of companies is reduced by
cutting down the use of paper for advertisement and deviating from traditional
marketing activities. The combination of LED-backlit panels is resulting in
substantial energy savings. A decrease in energy consumption owing to the
adoption of enhanced technologies such as LED is attracting enterprises to elect
for digital signage.
The West region accounted for the largest market share
in 2020. It is estimated to remain the highest revenue-generating regional
market until 2028. The Midwest region is projected to exhibit the highest CAGR
during the forecast period owing to burgeoning sales of digital signage in
multiple verticals of various states.
Furthermore, the software providers are focusing on
the new entrants of the digital signage industry by providing design solutions
that are compatible with the Android operating systems. The use of digital
signage helps in optimizing and reducing the company’s long-term operational
spending. This drop in the operational expenditure is due to avoiding the use
of paper for advertisement purposes and frequent damages and changes that are
associated with the traditional marketing activities.
Related Press Release@ U.S. Digital Signage Market Report
U.S. Digital Signage Market
Report Highlights
- The LCD technology segment commanded the leading market share in
2020, owing to the lower manufacturing cost and benefits associated with
the LCD technology
- The retail industry was the most prominent application segment in
the market in 2020. It is estimated to maintain its position through to
2028, as there is high competition in the industry, which augments the
need for an innovative advertising medium
- In terms of display, the transparent LED screens segment is
projected to witness the highest CAGR during the forecast period as the
high level of transparency and resolution offered by them proves to be
lucrative for advertisers.
- The hardware segment, which includes displays and media players, is
anticipated to dominate the market throughout the forecast horizon as
users remain keen on adopting different types of displays
- The out-store segment is expected to witness a considerable growth
rate owing to the growing adoption of digital signage in various outdoor
applications
- The West was the highest revenue-generating region in 2020 owing to
the adoption of digital signage across applications. The region comprises
the largest number of digital signage companies manufacturing electronic
display products, which is expected to further fuel the growth
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, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
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