Digital Signage Software Market Size, Share, Growth Analysis, By Component(Hardware, Content, Software, and Services), By Product Type(Video walls, Kiosks, Billboards, Digital posters), By Region - Industry Forecast 2024-2031


Report ID: SQMIG45E2203 | Region: Global | Published Date: February, 2024
Pages: 157 |Tables: 66 |Figures: 72

Digital Signage Software Market Insights

Digital Signage Software Market size was valued at USD 6.87 billion in 2021 and is poised to grow from USD 7.95 billion in 2022 to USD 25.54 billion by 2030, growing at a CAGR of 15.7% in the forecast period (2023-2030).

The growth of the digital signage software market is being primarily fueled by increasing demand in both public and commercial sectors, along with continuous technological advancements and infrastructure expansion. Notably, innovative display technologies like electronic paper display (EPD), OLED, and quantum dot LED (QLED) are driving further demand worldwide. Commercial applications, particularly in healthcare, hospitality, and retail, are expected to dominate the digital signage software market during the forecast period. The commercial sector's rising demand for digital signage, along with technological advancements and infrastructure expansions, is a key driver of market growth. Businesses are increasingly using digital signage and display systems in commercial locations for advertising and promotional purposes. The adoption of technologies like big data and cloud computing is further boosting the demand for technologically advanced digital signage solutions. Gaze-tracking technology is gaining popularity as it allows businesses to analyze consumer behavior and effectively market their products.

The increasing awareness of the limitations of traditional advertising, such as short-lived print marketing, is driving the adoption of digitized advertisement. Display designers, researchers, and advertising firms are investing in advancing product display technology, which is expected to accelerate industry growth. The continuous advancement of display technologies such as LCD, LED, UHD, OLED, and Super AMOLED is propelling the industry forward, resulting in improved advertisement content quality and benefiting the target audience. The use of such technologies by digital poster providers is anticipated to contribute to overall industry growth.

US Digital Signage Software Market is poised to grow at a sustainable CAGR for the next forecast year.

Market Snapshot - 2024-2031

Global Market Size

USD 6.87 billion

Largest Segment

Hardware

Fastest Growth

Hardware

Growth Rate

15.7% CAGR

Global Digital Signage Software Market ($ Bn)
Country Share for North America Region (%)

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Digital Signage Software Market Segmental Analysis

The global digital signage software market is segmented on the basis of component, deployment, product type, and region. By component, the market is segmented into hardware, content, software, and services. By deployment, the market is segmented into cloud, and on-premise. By product type, the market is segmented into video walls, kiosks, billboards, digital posters, and others. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Digital Signage Software Market Analysis By Component

“Hardware” is the dominant segment, which plays a crucial role in enabling the display and interaction capabilities of digital signage solutions. Hardware components include displays, media players, sensors, cameras, and other devices that facilitate content delivery and user engagement. The hardware segment is dominant because it forms the backbone of any digital signage deployment, determining the quality of visuals and the overall user experience.

On the other hand, the fastest-growing segment in the digital signage software market is “services”. As the adoption of digital signage solutions increases across various industries, the demand for services such as installation, maintenance, content creation, and management is surging. Service providers offer comprehensive solutions to businesses, including designing tailored content, integrating hardware and software, and providing ongoing support. With a growing number of organizations leveraging digital signage for marketing, communication, and information dissemination, the services segment is experiencing rapid expansion to meet the diverse needs of clients and ensure successful implementations. The combination of robust hardware and innovative services is driving the overall growth and maturation of the digital signage software market.

Digital Signage Software Market Analysis By Product type

“Video walls” have emerged as the most dominant segment. Video walls are large displays made up of multiple screens seamlessly connected to create an impressive visual experience. Their popularity stems from their ability to deliver impactful and engaging content in various commercial settings, such as retail stores, corporate offices, and entertainment venues. The immersive nature of video walls attracts attention and effectively communicates messages, making them a preferred choice for businesses aiming to captivate their audiences.

On the other hand, the fastest-growing segment in the digital signage software market is “Digital posters”. Digital posters are dynamic, high-resolution displays that provide eye-catching visual content. They offer versatility and flexibility in terms of placement, allowing businesses to showcase promotions and advertisements in strategic locations. With their ability to blend into different environments and create engaging visual experiences, digital posters have gained significant traction in the advertising and retail sectors. Their efficient and cost-effective communication approach makes them increasingly popular, driving substantial growth in this product segment.

Global Digital Signage Software Market By Component

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Digital Signage Software Market Regional Insights

The dominant region in the digital signage software market is North America. The region's dominance can be attributed to the widespread adoption of digital signage solutions in various industries, including retail, healthcare, and transportation. Moreover, the presence of well-established players and continuous technological advancements in the region further drive market growth.

On the other hand, Asia Pacific is considered to be the fastest growing region. The increasing demand for digital signage solutions in countries like China, Japan, South Korea, and India has fueled the market's rapid expansion in this region. Factors contributing to this growth include a booming retail sector, rising urbanization, and a surge in infrastructure development. Additionally, the growing adoption of digital out-of-home advertising and the rising popularity of interactive displays are further propelling the market in the Asia-Pacific region.

Global Digital Signage Software Market By Geography
  • Largest
  • Fastest

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Digital Signage Software Market Dynamics

Digital Signage Software Market Drivers

Increasing Demand for Digital Signage

  • The growing need for effective and engaging advertising and communication solutions in various sectors, such as retail, hospitality, healthcare, transportation, and education, is driving the demand for digital signage software. Digital displays offer dynamic content delivery, interactive features, and real-time updates, making them more appealing and effective than traditional static signs.

Technological Advancements:

  • Continuous innovations in display technologies, such as OLED, LED, and UHD, are propelling the digital signage software market forward. These advancements result in higher-quality displays, improved content delivery, and better user experiences, driving adoption across different industries and applications.

Digital Signage Software Market Restraints

Complex Connectivity and Compatibility Issues:

  • Implementing digital signage solutions often involves multiple hardware components, software systems, and connectivity requirements. Ensuring seamless integration and compatibility between different elements can be challenging and may hinder the smooth functioning of digital signage systems.

Regulatory and Legal Hurdles:

  • The installation and operation of digital signage may be subject to various regulations and licensing requirements, which can vary across regions and industries. Complying with these regulations and obtaining necessary permits can add complexity and cost to digital signage deployments, thereby acting as a restraint on market growth.

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Digital Signage Software Market Competitive Landscape

The global digital signage software market is characterized by intense rivalry among various companies striving to offer innovative and advanced solutions. Players focus on developing user-friendly software with customizable features to cater to diverse business needs. Technological advancements, such as AI integration and cloud-based solutions, are driving the market. Additionally, companies emphasize expanding their market reach through strategic partnerships, collaborations, and product launches. Customer support, pricing strategies, and after-sales services are crucial factors influencing market positioning. As the demand for digital signage software rises in commercial sectors, companies aim to distinguish themselves by providing cutting-edge solutions and staying abreast of industry trends.

Digital Signage Software Market Top Player’s Company Profile

  • AU Optronics Corp. (Taiwan)
  • Chi Mei Corporation. (Taiwan)
  • SAMSUNG (South Korea)
  • SHARP CORPORATION (Japan)
  • Schneider Electric (France)
  • Siemens (Germany)
  • Mitsubishi Electric Corporation (Japan)
  • SONY INDIA. (India)
  • FUJITSU (Japan)
  • Chunghwa Picture Tubes, LTD. (Taiwan)
  • Barco.(Belgium)
  • BOE Technology Group Co., Ltd. (China)
  • Innolux Corporation (Taiwan)
  • Advantech Co., Ltd (Taiwan)

Digital Signage Software Market Recent Developments

  • In February 2022, Broadsign International partnered with Clear Channel Europe, allowing media buyers to access over 3000 digital Out of Home screens in the UK through Clear Channel LaunchPAD.
  • In March 2022, STRATACACHE collaborated with NCR Corporation to provide an enhanced customer experience through engaging menus, enticing offers, and top-notch service.
  • Additionally, in March 2022, Navori Labs introduced QL 2.7, an advanced Digital Signage Solution software with a wide range of new features spanning across all core software elements.

Digital Signage Software Key Market Trends

  • Interactive and Personalized Content: There is a growing trend towards interactive and personalized content in digital signage. Businesses and advertisers are leveraging technologies like touchscreens, facial recognition, and motion sensors to engage with their target audience more effectively. Interactive displays allow users to interact with the content, such as selecting specific products or accessing additional information. Personalized content tailors messages based on the viewer's demographics, preferences, or past behavior, enhancing the overall user experience and increasing the effectiveness of advertising campaigns.
  • Cloud-based Solutions: The adoption of cloud-based digital signage software solutions is on the rise. Cloud-based platforms offer several advantages, including easy scalability, remote content management, and real-time updates. This allows businesses to centrally manage and control multiple displays across different locations from a single interface, reducing the need for on-site maintenance and management. Cloud-based solutions also facilitate seamless integration with other digital marketing tools and analytics platforms, enabling businesses to gather valuable insights and data on the performance of their digital signage campaigns. As a result, more organizations are shifting towards cloud-based digital signage software to streamline operations and enhance overall efficiency.

Digital Signage Software Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Component types team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.

According to our global digital signage software market analyses, the increasing demand from the public and commercial sectors are the key growth drivers. Technological advancements, such as innovative display technologies like OLED and quantum dot LED, are further driving demand. Commercial applications, particularly in healthcare, hospitality, and retail, dominate the market. The adoption of advanced solutions, including big data and cloud computing, contributes to the market's expansion. Challenges related to software and hardware compatibility, electrical interface, and regulatory processes may slightly impede growth. However, overall, the market is experiencing significant progress, driven by the rising need for digitized advertisement and improved display technologies.

Report Metric Details
Market size value in 2023 USD 6.87 billion
Market size value in 2031 USD 25.54 billion
Growth Rate 15.7%
Forecast period 2024-2031
Forecast Unit (Value) USD Billion
Segments covered
  • Component
    • Hardware, Content, Software, and Services
  • Product Type
    • Video walls, Kiosks, Billboards, Digital posters, and others
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • AU Optronics Corp. (Taiwan)
  • Chi Mei Corporation. (Taiwan)
  • SAMSUNG (South Korea)
  • SHARP CORPORATION (Japan)
  • Schneider Electric (France)
  • Siemens (Germany)
  • Mitsubishi Electric Corporation (Japan)
  • SONY INDIA. (India)
  • FUJITSU (Japan)
  • Chunghwa Picture Tubes, LTD. (Taiwan)
  • Barco.(Belgium)
  • BOE Technology Group Co., Ltd. (China)
  • Innolux Corporation (Taiwan)
  • Advantech Co., Ltd (Taiwan)
Customization scope

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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Digital Signage Software Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Digital Signage Software Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Digital Signage Software Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Digital Signage Software Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Digital Signage Software Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Digital Signage Software Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQs

Digital Signage Software Market size was valued at USD 6.87 billion in 2021 and is poised to grow from USD 7.95 billion in 2022 to USD 25.54 billion by 2030, growing at a CAGR of 15.7% in the forecast period (2023-2030).

The digital signage software market is characterized by intense rivalry among various companies striving to offer innovative and advanced solutions. Players focus on developing user-friendly software with customizable features to cater to diverse business needs. Technological advancements, such as AI integration and cloud-based solutions, are driving the market. Additionally, companies emphasize expanding their market reach through strategic partnerships, collaborations, and product launches. Customer support, pricing strategies, and after-sales services are crucial factors influencing market positioning. As the demand for digital signage software rises in commercial sectors, companies aim to distinguish themselves by providing cutting-edge solutions and staying abreast of industry trends. 'Panasonic Corporation (Japan)', 'LG Display Co., Ltd (South Korea)', 'HannStar Display Corporation (Taiwan)', 'AU Optronics Corp. (Taiwan)', 'Chi Mei Corporation. (Taiwan)', 'SAMSUNG (South Korea)', 'SHARP CORPORATION (Japan)', 'Schneider Electric (France)', 'Siemens (Germany)', 'Mitsubishi Electric Corporation (Japan)', 'SONY INDIA. (India)', 'FUJITSU (Japan)', 'Chunghwa Picture Tubes, LTD. (Taiwan)', 'Barco.(Belgium)', 'BOE Technology Group Co., Ltd. (China)', 'Innolux Corporation (Taiwan)', 'Advantech Co., Ltd (Taiwan)'

The growing need for effective and engaging advertising and communication solutions in various sectors, such as retail, hospitality, healthcare, transportation, and education, is driving the demand for digital signage software. Digital displays offer dynamic content delivery, interactive features, and real-time updates, making them more appealing and effective than traditional static signs.

Interactive and Personalized Content: There is a growing trend towards interactive and personalized content in digital signage. Businesses and advertisers are leveraging technologies like touchscreens, facial recognition, and motion sensors to engage with their target audience more effectively. Interactive displays allow users to interact with the content, such as selecting specific products or accessing additional information. Personalized content tailors messages based on the viewer's demographics, preferences, or past behavior, enhancing the overall user experience and increasing the effectiveness of advertising campaigns.

The dominant region in the digital signage software market is North America. The region's dominance can be attributed to the widespread adoption of digital signage solutions in various industries, including retail, healthcare, and transportation. Moreover, the presence of well-established players and continuous technological advancements in the region further drive market growth.

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