Hyderabad, Aug. 04, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled "United States Digital Signage Market Report (2023-2028)," the market is estimated at USD 7.87 billion in 2023. It is expected to register a CAGR of 7.88% during the forecast period.
A digital signage system delivers and displays content like images, videos, and streaming media using a content management system (CMS) and media players. Technological advancements in display, connectivity, and monitoring have made digital signage solutions popular in the United States. Digital outdoor signage has experienced steady growth and is used across various industries, including restaurants, hotels, retail, transit facilities, and entertainment events. Statistics show that digital signage can drive consumer behavior, with a high percentage of people entering stores and making purchases due to signage.
Report Summary:
| Report Attribute | Details |
| Market Size (2023) | USD 7.87 billion |
| Market Size (2028) | USD 11.50 billion |
| CAGR (2023-2028) | 7.88% |
| Study Period | 2018-2028 |
| Forecast Units | Value (USD billion) |
| Report Scope | Market Dynamics, Revenue Forecast and Segmentation, Competitive Landscape and Recent Developments, Market Growth, Future Opportunities, and Trends |
| Key Market Drivers | Demand for enhanced customer experience. |
| Technological advancements. |
Who are the Top Companies in the United States Digital Signage Market?
The market is moderately consolidated, with many major players. These players view product innovation as a significant strategy for expanding their market share. New and existing players are significantly investing in their R&D capabilities, launching new products, or making product developments to stay competitive.
The significant players in the US digital signage market are,
- NEC Display Solutions Ltd
- Samsung Electronics Co. Ltd
- LG Display Co. Ltd
- Panasonic Corporation
- Sony Corporation
- Sharp Corporation
- Planar Systems Inc.
- Hitachi Ltd
- Barco NV
- Goodview Electronic Co Ltd
- Cisco Systems Inc.
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Key Highlights from the United States Digital Signage Market Report:
OLED Displays - Future of Digital Displays
- OLED technology improves consumer display screens and image quality. OLED provides heightened reality, dynamic visuals, and better light and color expression. It overcomes the drawbacks of traditional displays.
- OLED is flexible and transparent due to advanced materials. It is used in digital signage for branding and media due to enhanced presentation, energy efficiency, and lightweight.
- Quantum Dot OLED (QD-OLED) is a new technology introduced in 2022. QD-OLED combines the benefits of OLED and Quantum Dot tech. New TV models and computer monitors from Sony, Samsung, and Alienware use QD-OLED.
Retail Sector Witnessing High Demand
- Retailers are integrating advanced signage technologies to enhance customer experience. They use digital tools to share relevant and profitable content in-store.
- Retailers combine digital and physical shopping for a seamless multichannel experience. Interactive screens are updated in real-time based on trends and demographics.
- Millennial shoppers seek interactive experiences in retail stores. However, one study reports that over 40% of consumers tend to ignore multiple ads on multiple screens, posing a challenge for advertisers.
What are the Latest Developments in the United States Digital Signage Market?
- In November 2022, Ynvisible Interactive Inc. introduced its new digital signage solution, a straightforward big-size e-paper display with digital and alphanumeric capabilities.
- In April 2022, Sharp NEC Display Solutions launched the new NEC PX 2201 UL projector model.
Mordor Intelligence has Segmented the United States Digital Signage Market Based on Type and End User.
- By Type (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Hardware
- LCD/LED Display
- OLED Display
- Media Players
- Projectors/ Projection Screens
- Other Hardware
- Software
- Services
- Hardware
- By End User (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Retail
- Transportation
- Hospitality
- BFSI
- Education
- Government
- Other End Users
In a nutshell, the Mordor Intelligence market research report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the United States Digital Signage Market Report (2023-2028).
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About Mordor Intelligence:
Mordor Intelligence is a market intelligence and advisory firm. At Mordor Intelligence, we believe in predicting butterfly effects that have the potential to change or significantly impact market dynamics.
Our market research reports are comprehensive and provide exclusive data, facts and figures, trends, and the competitive landscape of the industry.
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