Market Size of North America Digital Signage Industry
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
Forecast Data Period | 2024 - 2029 |
Historical Data Period | 2019 - 2022 |
CAGR | 13.70 % |
Market Concentration | Low |
Major Players*Disclaimer: Major Players sorted in no particular order |
North America Digital Signage Market Analysis
The North America Digital Signage market is expected to register a CAGR of 13.7% during the forecast period (2021 - 2026). However, at the COVID-19 pandemic, players focus on innovation based on display technologies for interactive digital signage. Digital signage interaction using hover and capacitive imaging of all objects and people near the display surface is an intuitive new way to interact.
- The signages have played an important factor in influencing the purchase decision in the US, and institutions like the Government, Healthcare, Public transit, and retail stores are now heavily relying on digital signages to better engage their targeted audiences to communicate their message.
- Digital signages are gaining popularity in the region, especially in the United States, due to the recent technological advancement in the display, connectivity, and monitoring space. Furthermore, the increasing adoption has also resulted in prices of display panels coming down significantly.
- The retail sector has been significantly adopting digital signage in the US, with primary and upcoming businesses opting for advanced digital signages featuring AI and machine learning to gain the most out of consumer analytics.
- Also, With an increased focus among retailers on targeted marketing strategies, the signage manufacturers are collaborating with retail stores to leverage increased sales by creating a branded environment. For instance, Mood Media generated a 10% increased profits for a North Carolina-based organic food retailer named Earth Fare.
- Furthermore, local governments in the area are also promoting the adoption of smart cities. For instance, Las Vegas is testing three pilot projects, with the government allocating USD 500 million to find ways to connect the entire city by 2025. Also, Intersection, a smart cities media, and technology company, has recently signed a 5-year contract with Chicago Transit Authority (CTA) to deploy over 700 new displays at CTA's rail street-level bus-advertising assets aiding the innovative city initiatives.
- Additionally, Pittsburg's Wood Street Station authority is considering expanding the installation of kiosks, and digital signage from CHK America Inc., enabled with route overview, real-time arrival information, and public service announcements like new fares and safety messages.
- Moreover, due to the region's high penetration and adoption of technology, technology giants, like Apple Inc. and Samsung Electronics, have been investing significantly in digital signage. For instance, recently, Samsung launched The Wall, an innovative display solution optimized for effective communication and collaboration across various applications. Apple Inc., on the other hand, has been looking at converting its set-top box to operate as digital signage through its management APIs and cloud-based software for retail installations. These innovations are going to play a vital role in the development of the market in the future.
North America Digital Signage Industry Segmentation
Digital signage is essentially a display technology that shows the text, images, and videos. It uses LCD, LED, projection, and e-paper to display the digital advertisement content. The study characterizes the market based on types, such as hardware, software, and services, and by end-user industry, such as retail, transportation, hospitality, corporate, education, and government. The study does not consider any revenues regarding 'Media' projected or displayed on digital signage hardware. Further, to arrive at the overall market projections, the study analyzes the impact of COVID-19 and the investment scenario and other macro-economic factors.
By Type | |||||||
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Software | |||||||
Services |
By End-user Vertical | |
Retail | |
Transportation | |
Hospitality | |
Corporate | |
Education | |
Government | |
Other End-user Verticals |
By Country | |
United States | |
Canada |
North America Digital Signage Market Size Summary
The North American digital signage market is experiencing significant growth, driven by advancements in display technologies and the increasing adoption of digital signage across various sectors. The market is characterized by a diverse range of applications, including retail, education, government, and healthcare, where digital signage is used to enhance communication and engagement. The retail sector, in particular, is leveraging digital signage to create immersive shopping experiences, integrating AI and machine learning to analyze consumer behavior and optimize marketing strategies. This trend is supported by the decreasing costs of display panels, making digital signage more accessible to businesses of all sizes. Additionally, the push towards smart city initiatives by local governments is further propelling the adoption of digital signage solutions, as seen in cities like Las Vegas and Chicago.
The market landscape is relatively fragmented, with major global players such as NEC Display Solutions, Samsung Electronics, and Panasonic Corporation dominating the hardware segment, while numerous medium and smaller companies focus on software solutions. Recent collaborations and innovations, such as Broadsign's integration with Pladway and Hitachi's expansion of Lumada-based solutions, highlight the dynamic nature of the market. Educational institutions and entertainment venues are also increasingly adopting digital signage to improve communication and enhance customer experiences. The market's growth is supported by ongoing technological advancements and strategic partnerships, positioning it for continued expansion in the coming years.
North America Digital Signage Market Size - Table of Contents
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1. MARKET INSIGHTS
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1.1 Market Overview
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1.2 Industry Attractiveness - Porter's Five Forces Analysis
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1.2.1 Threat of New Entrants
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1.2.2 Bargaining Power of Buyers
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1.2.3 Bargaining Power of Suppliers
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1.2.4 Threat of Substitutes
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1.2.5 Intensity of Competitive Rivalry
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1.3 Distribution Channel Analysis
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1.4 Industry Value Chain Analysis
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1.5 Impact of COVID-19 on the market
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2. MARKET SEGMENTATION
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2.1 By Type
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2.1.1 Hardware
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2.1.1.1 LCD/LED Display
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2.1.1.2 OLED Display
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2.1.1.3 Media Players
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2.1.1.4 Projectors/Projection Screens
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2.1.1.5 Other Hardware
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2.1.2 Software
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2.1.3 Services
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2.2 By End-user Vertical
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2.2.1 Retail
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2.2.2 Transportation
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2.2.3 Hospitality
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2.2.4 Corporate
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2.2.5 Education
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2.2.6 Government
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2.2.7 Other End-user Verticals
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2.3 By Country
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2.3.1 United States
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2.3.2 Canada
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North America Digital Signage Market Size FAQs
What is the current North America Digital Signage Market size?
The North America Digital Signage Market is projected to register a CAGR of 13.70% during the forecast period (2024-2029)
Who are the key players in North America Digital Signage Market?
Sharp NEC Display Solutions, Ltd., Samsung Electronics Co. Ltd, LG Display Co. Ltd, Panasonic Corporation and Sony Corporation are the major companies operating in the North America Digital Signage Market.