Digital Signage Software Market Analysis by Application (Healthcare, Education, Banking, Entertainment, Retail, Corporate, and Others); by Type (Content Management Systems, and Edge Server Software); and by Service (Installation Services, and Maintenance & Support Services) – Global Supply & Demand Analysis & Opportunity Outlook 2023-2035
Buy Now Report ID: 4822 | Published Date: Apr 14, 2023
The global digital signage software market size is estimated to reach ~USD 41.57 Billion by the end of 2035 by growing at a CAGR of ~13.20% over the forecast period, i.e., 2023 – 2035. In addition to this, in the year 2022, the market size of digital signage software was ~USD 9.39 Billion. The growth of the market can be attributed to the increasing trend of digital promotion of goods and services across the globe. Furthermore, there are so many competitors for a particular kind of product or service, that makes advertising through digital means are the most preferred option. Therefore, it is anticipated to boost the growth of the market in the upcoming years. As per the estimates, the total spending on digital ad across the globe is expected to reach more than USD 500 Billion by the end of 2024.
Text, animation, or video can all be displayed on an electronic sign using digital signage software. Moreover, these contents are delivered through a managed displays such as computer monitor, television, and other electronic signs displays. The factors that are believed to fuel the market growth of digital signage software include the surge in the customer engagement, and retention rates. Moreover, the rising employee retention, and motivation rates are another factor that is expected to contribute to the market’s growth. The employees can be provided through a digital signage message rather than by rewarding them with money. Moreover, important messages can be displayed on the digital signs embedded with software by the managers to the employees.
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Base Year |
2022 |
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Forecast Year |
2023-2035 |
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CAGR |
~13.20% |
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Base Year Market Size (2022) |
~ USD 9.39 Billion |
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Forecast Year Market Size (2035) |
~ USD 41.57 Billion |
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Regional Scope |
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Growth Drivers
Increasing Return on Investment– Digital signage is gaining popularity owing to its applications for different purposes, and it reduces the cost related to maintaining the letter boards, and distributing posters. Moreover, the emergency messages can be displayed to the people through the digital signage that are managed by the end users through software. Hence, these factors are projected to increase the growth of the market by the end of the year 2035. According to the reports, 5 out of 10 professionals use digital signage as a communication channel.
Growing Demand for 4k Digitalized Sign Displays – The 4K digitalized sign displays with software provide ultra HD digital signage solutions to consumers. It gives a real-effect of the products and services to the customers, and it is anticipated to rise the growth of the global digital signage software market during the forecast period. For instance, the 4k has 4 times as many as pixels as Full HD, and provides better effects than other display.
Surging Use of Digital Signage in Commercial Applications-The digital signage provides public information, and share product information in order to improve the customer service. Furthermore, it can also deliver a personalized message based on the basis of the customer preferences. In addition, the digital signage software allows the users to manage their digital signage screens, and content. Therefore, it is estimated to boost the growth of the digital signage software market. As per the estimated data, digital signage capture 350 percent more views than the static displays.
Growing Development of Gaze Tracking Technology– The gaze tracking technology helps in finding out consumer behavior for marketing products through eye tracking. It encourages the customers to focus on a certain part of digital signage, and influences them to make purchase decisions. Basically, special software is designed to follow the eye movements of the viewers. Therefore, it is predicted to increase the market’s growth over the forecast period. According to the data, eye movements are sufficient to provide up to 80 percent of the accuracy in relation to the prediction.
Advancement in Display Technologies– The advancement of display component such as OLED, LCD, LED, UHD, and others. Furthermore, these technologies are supported by the software to enhance the quality of advertising content. Moreover, these technologies are being adopted by the digital poster providers of all industries, and it is expected to surge the growth of the global digital signage software market in the upcoming years. In India, the smart TVs that includes LED, UHD, HD, LCD has reached to 84 percent among overall TV shipments in the year 2022.
Challenges
The global digital signage software market is segmented and analyzed for demand and supply by application into healthcare, education, banking, entertainment, retail, corporate, and others. Out of these, the retail segment is anticipated to hold the largest share over the forecast period. This can be attributed to the large variety of products sold in a particular industry, the retail sector has always wanted to take advantage through marketing strategies. The target consumers can be attracted through the digitized advertising in the retail industry. Furthermore, there has been an increase in the spending of the retailers on marketing strategies, that is estimated to boost the growth of the segment in the market.
The global digital signage software market is also segmented and analyzed for demand and supply by type into content management systems, and edge server software. Among these, two types of digital signage software, the content management systems segment is projected to have a significant share by the end of 2035. The growth of the segment can be attributed to the benefits they provide, such as the fact that no technical person is required to upload the content on the website. Moreover, the content can be created and edited by a non-technical person or the owner himself without having special skills. Furthermore, the published content can be shared by a large number of people within an organization, that is anticipated to expand the segment’s growth in the market. More than 70 percent of the websites on the internet use a content management system, as per the new survey.
Our in-depth analysis of the global digital signage software market includes the following segments:
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By Application |
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By Type |
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By Service |
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The market share of digital signage software in North America, amongst the market in all the other regions, is projected to be the largest with a share of about ~31% by the end of 2035. The growth of the market can be attributed majorly to the increasing research and development by the organizations to improve the product quality, and the presence of a large number of suppliers in the retail industry. Furthermore, there has been a surge in the demand for digital signage in different sectors in countries such as U.S and Canada. In addition, the surge in the spending on the advertising in the region is also estimated to drive the market growth in the region. More than 70 percent of the American consumers visit a new store owing to the digital signage.
The European digital signage software market is estimated to be the second largest, registering a share of about ~28% by the end of 2035. The growth of the market can be attributed majorly to the increasing use of digital technologies such as LED, LCD, and projections for displaying content such as streaming media, digital images, videos, and other information. Furthermore, the automotive leaders in the region, use digital signage solutions to create a good experience on the customers. Hence, it is projected to rise the market’s growth in the Europe region.
Further, the market in the Asia Pacific, amongst the market in all the other regions, is projected to witness the fastest growth by the end of 2035. The growth of the market can be attributed majorly to the rising awareness related to the benefits of digital signage. Furthermore, it is significantly adopted in different sectors, such as corporate offices, retail stores including online retail, hospitals, and others. In addition, the increase in the number of malls in the region is further expected to expand the growth of the digital signage software market in the region.
Broadsign International, Inc. announced the launch of Broadsign for System-on-Chip beta. The new Broadsign solution, designed to assist new and existing OOH media owners in monetizing cost-effective smart screens, supports the LG webOS and Samsung Tizen smart screen operating systems,
Sharp Corporation and E Ink Holding Inc., announced their collaborations in order to bring ePaper posters using E Ink’s technology to the market.
In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.
Author Credits: Abhishek Verma, Hetal Singh
Ans: Growing demand for 4K digitalized sign displays, growing development of gaze tracking technology, and surging use of digital signage in commercial applications are the major factors driving the market growth.
Ans: The market size of digital signage software is anticipated to attain a CAGR of ~13.20% over the forecast period, i.e., 2023 – 2035.
Ans: Lack of connectivity infrastructure, complex nature of the taxation levied on the digitalized signs and screens are estimated to be the growth hindering factors for the market expansion.
Ans: The market in the North American region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.
Ans: The major players in the market are Broadsign International, Inc., Scala Inc., Omnivex Corporation, Mvix, Inc., Panasonic Holdings Corporation, Rise Vision, Inc., Sharp Corporation, Barco, Inc., Siemens, and others.
Ans: The company profiles are selected based on the revenues generated from the product segment, the geographical presence of the company which determines the revenue generating capacity as well as the new products being launched into the market by the company.
Ans: The market is segmented by application, type, service, and by region.
Ans: The retail segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.
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