PUNE, India, June 19, 2017 /PRNewswire/ --
According to a new market research report "Digital
Signage Software Market by Software Type (Edge Server Software,
Content Management System), Services (Installation Services,
Maintenance and Support Services), Application (Commercial,
Infrastructural), and Geography - Global Forecast to
2023", published by MarketsandMarkets™, the digital
signage software market was valued at USD
4.48 Billion in 2016 and is expected to reach USD 9.24 Billion by 2023, at a CAGR of 10.2%
between 2017 and 2023.
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Browse 68 market data tables and 58 figures spread through
178 pages and in-depth TOC on "Digital Signage
Software Market"
http://www.marketsandmarkets.com/Market-Reports/digital-signage-software-market-180070688.html
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The increasing demand for digital signage in public and
commercial sectors, advancements in technology offerings and
infrastructure expansions are the key driving factors for the
digital signage software market. There is an increasing adoption of
software in systems used in the commercial sector; it makes the
system interactive and easy to use. This leads to improved customer
retention by providing an enhanced experience for customers through
interactive screens. Content management system is widely used in
the market for the effective management of content to be displayed
through digital signage systems.
The content management system is expected to hold the largest
market share during the forecast period
In 2016, the market for content management system held the
largest share in digital signage software market and is expected to
dominate the market till 2023. The content management system plays
a vital role in the customization, scheduling, monitoring, and
deployment of content across a network of digital displays. Digital
signage content management system is the nerve center of the
digital signage network and is necessary to make digital signage
effective; it helps ensure the most relevant content is viewed by
the consumers.
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Commercial application held the largest market share in the
digital signage software market in 2016 and is expected to register
the highest CAGR during the forecast period
The commercial application is expected to dominate the digital
signage software market till 2023. This is mainly due to increasing
demand for digital signage in commercial applications along with
improvements in technology offerings & infrastructure
expansions. In indoor advertising, especially in the commercial
application (retail, healthcare, and hospitality sectors), content
needs to be managed and changed periodically because of the high
customer interaction in these sectors. As the usage of products
such as displays, media players, and projectors in retail and
hospitality increases, the content management services in the
digital signage market would also experience growth.
North America held the
largest market share in 2016, while APAC expected to witness the
highest growth rate between 2017 and 2023
North America is expected to
hold the largest market share and dominate the digital signage
software market between 2017 and 2023. North America being the most technologically
advanced among the developed countries is a leader in the market
for the cutting-edge technology, which is used in the advertisement
sector. In North America, digital
signage with its technological capability focuses on expanding its
customer base. North American region is the early adopter of latest
display technology and there is always growing awareness regarding
the benefits of commercial displays in the region. Developers and
providers of digital signage software are aiming for more values on
return.
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Some key players in this region include Scala, Inc. (US), Planar
Systems, Inc. (US), Broadsign International LLC (Canada), and Omnivex Corporation (Canada).
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