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Advancements in technology offerings and infrastructure expansions are boosting the growth of the digital signage software market
The digital signage software market was valued at USD 4.48 billion in 2016 and is expected to reach USD 9.24 billion by 2023, at a CAGR of 10.2% during the forecast period. The growth of the market is propelled by the increasing demand for digital signage in public and commercial sectors, along with its high cost efficiency and assured return on investment. The market is further driven by factors such as increasing focus on energy consumption, the rising demand for OLEDbased displays, and improvements in technology offerings infrastructure expansions. However, the lack of standardization and the lack of awareness about digital signage are inhibiting the growth of the digital signage market globally.
The digital signage software market expected to gain maximum traction in the commercial application during the forecast period
The commercial application sector is expected to hold the largest share of the digital signage software market by 2023. This market is expected to grow at the highest rate between 2017 and 2023. This is mainly due to increasing demand for digital signage in commercial applications along with improvements in technology offerings infrastructure expansions. Digital signage attracts a large group of customers through effective communication through advertising and promotion. Increasing demand in retail, hospitality and healthcare sectors is boosting the demand for software for commercial application.
North America held the largest market share while APAC is expected to grow at the highest CAGR during the forecast period in the digital signage software market
North America held the largest share of the digital signage software market in 2016. APAC is one of the potential markets for digital signage software globally. The market in APAC is expected to grow at the highest CAGR during the forecast period. The retail boom in APAC countries such as China, Singapore, Malaysia, Thailand, Hong Kong, Singapore, Malaysia, and Japan continues to benefit from both the strong domestic demand and an influx of tourist dollars from countries such as China and India. Increasing developments in the field of transportation, communication, public infrastructure, and construction are expected to create demand for digital signage systems, software, and services in public spaces in this region.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews have been conducted with key experts. The breakup of the profile of primary participants is given below:
By Company Type: Tier 123%, Tier 234%, and Tier 343 %
By Designation: CLevel Executives35%, Directors29%, and Others36%
By Region: North America45%, Europe26%, APAC17%, and RoW12%
The prominent players profiled in this report are Scala Inc. US, Signagelive UK, Broadsign International LLC Canada, Omnivex Corporation Canada, Navori Switzerland, IntuiLab SA France, Mvix, Inc. US, NoviSign Digital Signage Inc. Israel, Four Winds Interactive US, Rise Vision Canada, Planar Systems Inc. US, NEC Display Solutions Japan ADFLOW Networks Canada, Samsung Electronics Co. Ltd. South Korea, and Panasonic Corporation Japan.
The report provides a picture of the digital signage software market. It aims at estimating the market size and future growth potential of this market across different segments such as types of software, types of services, applications, and geographies. Furthermore, the report also includes the industry trends, market dynamics, and competitive analysis of the key players in the market, along with their company profiles, vendor DIVE matrix, and recent developments.
Key Benefits of Buying the Report:
The report would help the market leaders/new entrants in this market by providing them the closest approximations of the revenue numbers for the overall digital signage software, and the subsegments. This report would help stakeholders better understand the competitive landscape and gain more insights to better position their businesses and make suitable gotomarket strategies. The report also helps the stakeholders understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities.
Original Article: Digital Signage Software Market by Software Type Edge Server Software, Content Management System, Services Installation Services, Maintenance and Support Services, Application Commercial, Infrastructural, and Geography Global Forecast to 2023 [Updated: 1NEXT ARTICLE
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