What are the growth opportunities of U.S. Digital Signage market in upcoming period?

San Francisco, California , USA, June 20, 2022 — /EPR Network/ —

U.S. Digital Signage Industry Overview

The U.S. digital signage market size is anticipated to reach USD 9.2 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 6.3% from 2022 to 2030. The demand for digital signage 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 market growth over the forecast period.

U.S. Digital Signage Market Segmentation

Grand View Research has segmented the U.S. digital signage market based on component, hardware components, display type, display technology, display size, software, application, location, and region:

Based on the Component Insights, the market is segmented into Hardware, Software and Services.

• In terms of revenue, the hardware segment accounted for the largest market share of around 54.4% in 2021. It is anticipated to maintain its position through 2030 as hardware plays a major role in displaying content and is hence of paramount importance.
• The software components segment is estimated to exhibit a CAGR of over 8.4% during the forecast period. The demand for software components owing to the technological advancement, which has led to the innovative approaches by the manufacturers such as audience analytics and audience engagement tools, is projected to grow notably over the estimated duration.

Based on the Hardware Components Insights, the market is segmented into Displays, Media Players & Extenders and Others (Mounting Devices & Components).

• The displays segment dominated the market and accounted for the largest revenue share of 61.4% in 2021. It is expected to retain its position until 2030 owing to the increasing innovations in display technologies, which are prompting advertisers to align with the latest trend.
• The media players segment is projected to exhibit the highest growth rate over the forecast period. They are designed to support informative content on digitized displays and share messages. Media players also integrate apps that expand functionality.

Based on the Display Type Insights, the market is segmented into Video Walls, Video Screens, Transparent LED Screens, Digital Posters, Kiosks and Others.

• The video walls segment held the largest revenue share of approximately 22.4% in 2021.
• The transparent LED screens segment is anticipated to exhibit the highest CAGR during the forecast period owing to the attractive design and the spatial constraints associated with the installation of digital signage

Based on the Display Technology Insights, the market is segmented into LCD, LED and Projection.

• The LED segment dominated the market and accounted for the largest revenue share of more than 46.4% in 2021. he adoption rate of LED displays is estimated to rise over the forecast period as the technology continues to evolve and the demand for innovative OLED displaysis high.
• The factors responsible for the extensive adoption of the LCD technology in digitized posters are lower manufacturing costs and ease of production of LCDs. LCD is expected to be seen with much higher displays, and the transformation is likely to occur from sRGB to BT.2020, which consists of 4K and 8K resolution embedded displays.

Based on the Display Size Insights, the market is segmented into Below 32 Inches, 32 to 52 Inches and More than 52 Inches

• The below 32 inches segment dominated the market and accounted for the largest revenue share of 39.9% in 2021 as signage of this size is preferred the most by incumbents of the retail, corporate, and BFSI industries.
• The 32 to 52 inches segment is expected to expand at the highest CAGR during the forecast period as incumbents of the hospitality, entertainment, transportation, and healthcare industries are increasingly adopting digitized signage of this size.

Based on the Software Insights, the market is segmented into Display Software and Audience Analytics & Engagement Software.

• The display software segment dominated the market and held the largest revenue share of more than 62.4% in 2021, owing to the extensive use of various display software to create and manage content supposed to be displayed on digital signage.
• The audience analytics and engagement software segment is poised to experience tremendous growth during the forecast period. The segment is expected to register a CAGR of over 7.7% over the forecast period.

Based on the Application Insights, the market is segmented into Retail, Hospitality, Entertainment, Stadiums & Playgrounds, Corporate Banking, Healthcare, Education and Transportation.

• The retail sector spearheaded the market in 2021 and constituted a market share of around 22.4% as incumbents of the retail industry emerged as one of the leading adopters of digital signage to promote products and services amidst intensifying competition within the industry.
• The healthcare segment is estimated to witness substantial growth over the forecast period. In the healthcare industry, digital signs are used for managing inventory and staff and notifying staff and visitors of hospitals.

Based on the Location Insights, the market is segmented into In-store and Out-store.

• The in-store segment dominated the digital signage market and accounted for the largest revenue share of 60.5% in 2021.
• The out-store segment is projected to register a higher CAGR during the same period. The demand for out-store locations is expected to grow over the coming years owing to rapid adoption across the transportation sector, healthcare, and BFSI and increasing development of stadiums and playgrounds in developing countries.

U.S. Digital Signage Regional Outlook

• Northeast
• Southeast
• West
• Midwest
• Southwest

Key Companies Profile

Commonly adopted strategies by key players include improvised product development, enhanced software solutions, advanced display technologies, licensing of technologies, and enhanced aftersales support and service.

Some prominent players in the U.S. Digital Signage market include

• NEC Display Solutions of America, Inc.
• BrightSign LLC
• Planar System Inc.
• Cisco Systems, Inc.
• Intel Corporation
• Microsoft Corporation
• Keywest Technology, Inc.
• Scala, Inc.
• Visix, Inc.
• Panasonic Corporation of North America
• Hughes Network Systems LLC

Order a free sample PDF of the U.S. Digital Signage Market Intelligence Study, published by Grand View Research.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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Grand View Research, Inc.

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