The demand for outdoor media is increasing. Companies arealways looking for new ways to communicate effectively with their targetaudience. The advent of digital signage has revolutionized the signageindustry. There are many digital signage companies offeringinnovative products and catering to different sectors.
Every industry has got different requirements when it comesto digital signages. Digital signages offerings hardware displays, LCD or LED mediaplayers, Projectors etc. They can be used in multiple touchpoints likeairports, malls, buses, trains etc enabling companies to reach their targetaudience anytime and anywhere. LED and LCD displays have reasonably higherdemand. In LED, the demand for transparent screen LED product is expected toincrease in US because of its less energy consumption.
A tremendous increase in the demand for digital signageproducts will see the market grow a CAGR of 7.4 % between 2017 to 2023. This isas per a research study conducted by Marketsandmarkets. Major growth isexpected in developed countries like USA. North America has dominated thedigital signage market in the earlier period and is expected to do so in thefuture as well. As per a research, North America had the largest market sharefor digital signage in 2015. So many digital signage companies in US arecompeting strongly to provide the best solutions to their customers. To lurenew customers some are even providing free digital signagesoftware initially. The market in USAis saturated with many big and small players. Everyone is trying to offersomething unique to the customers. Hence there is cut-throat competition inthis segment.
Companies in USA always try to display their product in moreattractive manner through Innovative outdoor media solutions. Display signagemeets their requirements as they are dynamic and automated. Multiple messagescan be spread easily with the help of digital signage. They are cost effectivemedia solutions. Moreover, the results of digital signage’s can be measuredeffectively. All this, makes them a preferable media option. Display signagesenables good viewing experience. This is also one of the primary growth driverfor this product. Tech-savvy US customers like to engage with interactiveplatforms like digital signages. Many marketers use it successfully by usingsome creative elements in the digital platform.
There are frequent breakthroughs in the display panelproduction. There is a decline in the cost of producing the display panelsaccompanied by high demand for it. Apart from it, the cost of deploying digitalsignages has also reduced since past few years. Hence, this segment has suddenlybecome more lucrative for signage companies in USA.
Digital signages can be used for internal customers alsowhich are basically the employees of the company. Top vertical markets fordigital signages are basically Retail, Entertainment, Transportation, Banking,Corporate etc. But retail is one of the most important sector for thistechnology based product. Companies in other sectors have also realized thepotential of digital signages. Even government institutions find digitalsignages as an effective platform to spread the message to people. As a result,promotion through this medium also form a part of their marketing budget.