North America Digital Signage Solutions Market Size, Share & Trends Analysis Report By Solution (Software, Services), By Deployment Mode (On-Premise, Cloud-Based), By Industry (Retail, Hospitality, Transportation, Healthcare, Education, Media and Entertainment, BFSI, Others) and By Country(U.S., Canada) Forecasts, 2022-2030

Market Overview

The North America Digital Signage Solutions Market size was valued at USD 6,303 million in 2021 and is projected to reach USD 16,441 million by 2030, registering a CAGR of 11.07% during the forecast period 2022-2030.

Digital signage is an electronic sign that provides or conveys information to target audiences and customers, such as menus, advertisements, schedules, and other messages. It can be altered or customized to meet the organization's needs and is utilized across many client touchpoints. The business owner can transmit the digital material to one or more displays or screens using digital signage, which can be centrally managed and used as a platform for content distribution. There are two components to a digital signage system: software and hardware.

In North America, estimates of the size of the digital signage market show a significant growth rate. This is because digital billboards are used a lot to promote goods and services, and the retail industry is growing. The improvements in display, connectivity, and tracking technology have opened up many doors for technology that used to be expensive.

Highlights

• Content Management systems dominate the market by software type.
• Installation services dominate the market by Service type.
• The retail segment dominates the market by Vertical.

Market Dynamics

North America Digital Signage Solutions Market Drivers:

Advances in Display Technology

Advances in display technology propel the market for digital signage solutions in North America. Displays with a higher resolution, such as 4K and 8K displays, interactive displays, flexible displays, LED displays, and enhanced outdoor displays, all contribute to the market's expansion. Displays with a higher resolution enable visually stunning and engaging digital signage content, while interactive displays increase consumer engagement. Flexible displays allow for more imaginative and dynamic installations, whereas LED displays are energy-efficient and durable. Improved outdoor displays address obstacles, including visibility in intense sunlight and exposure to severe weather. Display technology's ongoing technological advancements drive innovation and economic growth in North America, and we expect this field to continue to advance.

Growing Retail Industry

North America's rising retail market is a big reason why the market for digital signage solutions is growing there. Retailers increasingly use digital signs to improve the in-store experience, connect with customers, and boost sales. In the US, the retail industry has increasingly used digital signage. Both established and new companies are choosing advanced digital signage with AI and machine learning to get the most out of consumer analytics.

Also, since retailers are paying more attention to focused marketing strategies, sign makers are working with stores to create a branded environment that will help boost sales. For example, Mood Media helped Earth Fare, a store in North Carolina that sells healthy food, make 10% more money.

North America Digital Signage Solutions Market Restraints:

Cybersecurity Concerns

Due to cybersecurity concerns, businesses relying on digital signage networks in North America face significant restraint. Key cybersecurity concerns for digital signage networks include unauthorized access, malware and viruses, data breaches, and service disruption. Businesses must implement strong access controls, encryption, regular updates, and security testing to mitigate these concerns. Reputable third-party vendors specializing in digital signage security may also be considered for working with. Businesses must take appropriate measures to secure their digital signage networks to address cybersecurity concerns.

North America Digital Signage Solutions Market Opportunities:

Adoption of Cloud Technology

Cloud technology adoption offers several growth opportunities in the North American digital signage solution market. Businesses can manage and update their digital signage content remotely using cloud-based content management systems, reducing the need for expensive hardware and infrastructure. Cloud-based digital signage solutions provide real-time analytics and reporting, enabling data-driven decision-making. Integrating cloud-based technologies such as AI and IoT improves customer experiences and operational efficiency.

Regional Analysis

North America is a significant global revenue contributor to the market and is expected to grow at a CAGR of 11.07% during the forecast period. Digital signage providers use empowered research techniques and improved technology to contribute majorly to the digital signage advertising market, with the U.S. being a significant contributor. Additionally, digital signs' high adoption rate caused a surge in sales that considerably lowered prices. Furthermore, some local governments are also adopting the smart cities initiative. For instance, the city government of Las Vegas is testing out three pilot projects by allocating $500 million to find ways to connect the entire city effectively by 2025. Intersection Media and Technology Company announced that they had signed a 5-year contract with Chicago Transit Authority (CTA) to deploy over 700 new displays at CTA's rail station bus stops and other bus advertising outlets. This will aid the innovative city initiatives being taken.

Furthermore, ScreenBeam Inc. has released an update with digital signage capability. This update will enable their 1,100 clients in the United States, key players in wireless display and collaboration solutions, to communicate essential messaging and company branding and leverage their meeting room displays more effectively. Scala Digital Signage states that 74% of US retailers consider developing a more engaging in-store customer experience critical. In the next five years, they expect 42% of sales to come from online, mobile, and social commerce sites.

Segmental Analysis

The North America Digital Signage Solutions Market is segmented based on Software type, service type, and vertical.

The Software type segment is further segmented into Edge-Server software and content management systems.

The Content Management system segment dominated the market and is expected to register a CAGR of 11.05% over the forecast period.

The segment can be bifurcated by service type into Installation services, Maintenance, and support services. 

The Installation services segment dominated the market and is expected to grow at a CAGR of 10.03% during the forecast period.

Based on vertical, the market is sub-segmented into Retail, Corporate, BFSI, Education, Government, Transportation, Entertainment, Hospitality, and industrial.

Retail is expected to dominate the market, registering the highest CAGR of 10.86% over the forecast period.

Recent Developments

• April 2023- NEC utilized carbon nanotubes to develop the world's first highly sensitive uncooled infrared image sensor.
• March 2023- Broadsign and Numbat GmbH announced that Numbat would use Broadsign's digital-out-of-home (DOOH) advertising platform to build, power, and scale advertising capabilities for its growing network of sustainable, high-power electric vehicle (EV) charging stations.
• March 2023- ViewSonic expanded its lineup of commercial display solutions by introducing a new series of all-in-one LED displays.