RNR Market Research's report on the digital signage software market is now available.
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 share of the digital signage software market in 2016. 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. APAC is one of the potential markets for digital signage software globally.
The digital signage software 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.
The digital signage software market is driven by the increasing focus on energy consumption, the rising demand for OLED-based 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.
In the process of determining and verifying, the market size for several segments and sub segments gathered through secondary research, extensive primary interviews were conducted with key people. In Tier 1 (23%), Tier 2 (34%) and Tier 3 (43%) companies were contacted for primary interviews. The interviews were conducted with various key people such as C-Level (35%), Director Level (29%) and others (36%) from various key organizations operating in the digital signage software market. The primary interviews were conducted worldwide covering regions such as North America (45%), Europe (26%), Asia-Pacific (17%), and RoW (12%).
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.
Another research titled Digital Signage Market Global Forecast to 2022 says, the digital signage market is expected to reach $27.34 billion by 2022, at a CAGR of 6.7% between 2016 and 2022. Digital signage expected to gain maximum traction in the commercial application, during the forecast period. APAC expected to register highest growth rate in the digital signage market during the forecast period.