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Global Digital Signage Software Market Size, Trends, and Analysis - Forecasts To 2026 By Software Type (Content Management System, Edge Server Software, Others), By Service (Maintenance & Support Service, Installation Service, Others), By Application (Institutional, Commercial, Industrial, Infrastructural, Others), By Region (North America, Asia Pacific, CSA, Europe, and the Middle East and Africa); End-User Landscape, Company Market Share Analysis & Competitor Analysis
Digital signage is described as a remotely controlled digital display usually linked with marketing, sales, and advertisement centrally controlled for the display of text, animated, or visual messages. It is used throughout a range of touchpoints for customers and can be updated or configured as required by the company. Digital signage and a content delivery network can be centrally managed, from which the company owner can deliver the digital content to one or more displays/screens. Interactive digital signage is being used to encourage two-way contact with end-users with the support of smartphones or other devices used for communication.
Signage with touch screens, RFID technologies sensors, and beacons have gained popularity, owing to the significant adoption of smartphones and other realistic communication devices. The growth of the industry is driven by the increasing demand for digital signage in the commercial and public industries, coupled with its highly efficient and guaranteed return on investment. The factors influencing the digital signage software market are the increasing demand for digital signage in the commercial and public sectors, technical advances, and infrastructure development growth. The interactive and convenient method makes the technology a service that is the most prevalent system for product display. The rising demand for cloud-based digital signage software solutions is one of the key innovations in this industry. Furthermore, growing R&D investments by various businesses, coupled with increasing demand for OLED-based displays, are driving the market growth. Moreover, emerging technologies in healthcare such as smart stores/retail, smart stadiums, IoT, and smart mirrors are propelling the market growth.
When viewed by individuals at numerous places and sites, the market is completely and exclusively dependent on the final results. Compared to printed media formats, which require big investments & more time, its visibility & user-friendly features easily attract people. Digital signage is a more productive source, as the data can be updated automatically without any investment in the content.
Several factors have been affected by the COVID-19 epidemic, like restricted all indoor events; cancelled flights; closed restaurants; travel restrictions and quarantines; declared a state of emergency in over more than 40 countries; significant supply chain slowdown; reduced company morale, stock market instability; growing fear of the population and future uncertainty.
The content management system accounts for the largest revenue share in 2019 over the forecast period. The computer software used to handle the development and modification of digital content is a content management system. CMSs are commonly used for corporate content management and web content management. The digital signage content management system is the digital signage network's central hub and it is important to make digital signage effective; it helps ensure that customers access the most appropriate content.
The edge server software segment is anticipated to accelerate at a high CAGR pace over the expected timeframe. Edge servers are robust computers positioned at the "edge" of a given network where it is required to compute data. They are physically close to the devices or programs that generate the data stored on the server or used by it. Edge servers play a significant role in edge computing by supplying the necessary computing resources to achieve the latency reduction objective.
The commercial application segment is anticipated to accelerate market share and is expected to expand from 2021 to 2026 at the highest CAGR over the forecast period. This is mainly due to the growing demand in commercial applications for digital signage along with advancements in technology offerings & expansions of infrastructure. In indoor advertisement, mainly in commercial applications (hospitality, retail, and healthcare sectors), content needs to be handled and modified periodically due to the high consumer interaction in such sectors. As the use of products such as displays, video players, and projectors in retail and hospitality is growing, there will also be growth in content management services in the digital signage industry.
The retail industry is projected to hit a high market value over the projected period, as the introduction of digital signage technology would save printing costs while increasing operational performance. To create brand recognition and improved experience, many retail industry players are implementing the technology. Also, the software increases user loyalty and pushes more footfall in the retail stores.
The North American area remains the dominant market position for the forthcoming years in terms of sales. This is due to rapid industrialization, and the most technological innovations among developed countries which are recognized as the market leader for cutting-edge technology used in the advertising industry. Moreover, the region is the early adopter of the new display technologies and there is still rising awareness of the advantages of commercial displays, which will drive the development of North America's market.
The Asia-Pacific region will demonstrate a substantial CAGR rate over the stipulated timeline attributable to rapid urbanization, and increasing demand for the enhanced visual experience and the growth of the educational market will boost technological innovation. The region has a significant amount of tech-savvy and young populations that are the digital signage target demographic. This population is gradually adopting the latest innovations made available in the market, with rising disposable incomes is also a major contributing factor to the growth of the Asia-Pacific sector.
Omnivex Corporation, Dise International Ab, Adflow Networks, Scala Inc., NEC Display Solutions Ltd., Planar Systems Inc., Sharp Corporation, Truknox Technologies Pvt. Ltd., Acquire Digital, Broadsign International LLC, Ycd Multimedia, Panasonic Corporation, Mvix, Inc., Cisco Systems, Inc., Samsung Electronics Co. Ltd., Navori, Four Winds Interactive, Signagelive, Rise Vision, Visix, Inc., Intuilab Sa, Onelan Limited, Xtreme Media Pvt. Ltd., Novisign Digital Signage Inc., and L Squared among others are the prime players competing in the digital signage software market.
Please note: This is not an exhaustive list of companies profiled in the report.
In January 2018, Signagelive partnered with Brightsign, LLC to design their digital signage media player support solution. For this media player, Signagelive has created an HTML5 based solution with web trigger support.
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The Global Digital Signage Software Market has been studied from the year 2019 till 2026. However, the CAGR provided in the report is from the year 2021 to 2026. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.
The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply-side analysis for the Digital Signage Software Market.
The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.
Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the company and customer analytics.
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