As Per a Statistics Report by TechCrunch – Digital Videos are More Effective in Delivering the Message and Digital Video Reaches 70% of the Audience

According to a report done by DataTrend, digital signage has increased the sales purchase amount and dwelled time by 30% in retail store. Also stated in a report published by SalonSense Media in 2016, over 60% of purchasing decisions are made at the time of purchasing and approximately 30% of customers found digital signage influential for purchasing a product or service.

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Global digital signage software market is expected to reach USD 15,825.19 million by 2030 from USD 6,577.11 million in 2022 growing with a healthy CAGR of 11.6% in the forecast period of 2023 to 2030. The adoption of digital signage software is rapidly rising in the public, retail, and commercial sectors. In addition, the increasing use of cloud-based platforms and data analytics is boosting the growth of the digital signage software market. Digital signage solutions are very cost-effective and assure return on investment to the user due to which the demand for digital signage is growing.            

Growing demand for digital signage solutions in public and commercial sectors across the world will drive the market's growth rate

Digital signage software also helps government and public offices enhance their internal communication and improve their brand image. The wayfinding solutions also used widely in many industries and also helps in presenting dynamic and engaging content to the trainees in commercial offices for training purposes. The application indoor advertisement by digital signage software are also being majorly used in retail sector for improving the customer experience as it helps the customers as soon as they step in the store. All these factors such as increasing indoor advertising application in retail and commercial spaces are boosting the growth of digital signage software in the coming years.

Report Scope and Market Segmentation

Segment Analysis:

Global digital signage software market is segmented into seven notable segments which are based on the offering, deployment model, type, operating device, pricing model, application and end user.

• On the basis of offering, the global digital signage software market is segmented into solution and services. In 2022, solution segment is dominating the global digital signage software market with the and is expected to reach USD 9587.75 million by 2030 due to the growing demand of digital signage in the e-commerce and commercial sector.
• On the basis of deployment model, the global digital signage software market is segmented into cloud and on premise. In 2022, cloud segment is dominating the digital signage software market and is expected to reach USD 8,838.27 million by 2030 as it’s highly cost efficient and easy to deploy as compared to on premise.
• On the basis of type, the global digital signage software market is segmented into proprietary and standard. In 2022, proprietary segment is dominating the digital signage software market and is expected to reach USD 9590.66 million by 2030 as the growing usage of proprietary software solutions in the organization is highly secure as compared to open source.
• On the basis of operating device, the global digital signage software market is segmented into smartphone, MAC and windows. In 2022, windows segment is dominating the digital signage software market and is expected to reach USD 8219.68 million by 2028 as the growing usage of on premise solutions in the organization resulted in increasing demand for the window operating system.
• On the basis of pricing model, the global digital signage software market is segmented into free and subscription based. In 2022, subscription segment is dominating the digital signage software market of 63.80% and is expected to reach USD 10,352.56 million by 2030 as these types of software provides facility of data security.
• On the basis of application, the global digital signage software market is segmented into indoor advertisement and outdoor advertisement. In 2022, outdoor advertisement segment is dominating the digital signage software market and is expected to reach USD 10,178.64 million by 2030 as it is highly cost efficient and long lasting and cover wide range of coverage.

The outdoor advertisement segment will dominate the application segment of the digital signage software market

The outdoor advertisement segment will emerge as the dominating segment under application segment. This is because of the growing number of technological advancements in the market especially in the developing economies. Further, growth and expansion of research development services on a global scale will further bolster the growth of this segment.

• On the basis of end user, the global digital signage software market is segmented into industrial, commercial, government, infrastructural and institutional. In 2022, commercial segment is dominating the digital signage software market and is expected to reach USD 5,229.12 million by 2030 due to growing expansion of retail sector, hospitality and corporate across the globe.

The commercial segment will dominate the end user segment of the digital signage software market

The commercial segment will emerge as the dominating segment under end user. This is because of the growing number of infrastructural development activities in the market especially in the developing economies. Further, growth and expansion of the semiconductors and electronics industry all around the globe will further bolster the growth of this segment.

Major Players         

Data Bridge Market Research recognizes the following companies as the market players in market: 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)

Market Development

• In October 2020, Signagelive Limited and Quividi announced their partnership to provide audience and campaign intelligence in DOOH and digital signage. Signagelive provide cloud based digital signage platform and Quividi provides audience & campaign intelligence platform for DOOH and digital signage. The company will gain more customers and increase their revenue through this partnership.
• In June 2020, NoviSign Digital Signage released new DOOH (Digital-out-of-Home) Advertising Widget and integrates it with Adomni, which is a self-service online platform for buying and selling digital-out-of-home advertising, and will give new level of layout configuration to media operators. This new release of OOH advertising widget will help the company to attract new media operators and increase customer base.
• In April 2020, Uniguest launched Wayfinder for digital signage, it is a content solution, which will provide an interactive touchscreen maps for guest to fulfil the need of their customers. This new solution will help the company to satisfy the demand of their clients / customers and increase their business.

Regional Analysis

Geographically, the countries covered in the market report are U.S., Canada, Mexico in North America, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), Brazil, Argentina, Rest of South America as a part of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).

As per Data Bridge Market Research analysis:

North America is the dominant region in digital signage software market during the forecast period 2023 - 2030

North America dominates the digital signage software market because of the presence of dedicated suppliers of the product and rise in demand for signage in the retail industry within the region.

Asia-Pacific is estimated to be the fastest-growing region in digital signage software market the forecast period 2023 - 2030

Asia-Pacific is expected to witness significant growth during the forecast period of 2023 -2030 because of the rise in awareness regarding the benefits of digital signage in the region.

COVID-19 Impact

The market for digital signage software has been impacted by COVID-19. Digital signage technology's sales and production were restricted by low investment costs and a labor shortage. The government and major market actors introduced new safety measures to develop the practices. The digital signage software targeted the correct audience, which increased sales because of technological developments. In the post-pandemic environment, the increased device sales around the globe are anticipated to further fuel market expansion.

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