Digital Signage Software Market Opportunities and Strategies to 2033

This report describes and explains the digital signage software market and covers 2018-2023, termed the historic period, and 2023-2028, 2033F termed the forecast period. The report evaluates the market across each region and for the major economies within each region.

The global digital signage software market reached a value of nearly $10 billion in 2023, having grown at a compound annual growth rate (CAGR) of 13.64% since 2018. The market is expected to grow from $10 billion in 2023 to $18.9 billion in 2028 at a rate of 13.47%. The market is then expected to grow at a CAGR of 13.31% from 2028 and reach $35.2 billion in 2033.

Growth in the historic period resulted from the growth in transportation infrastructure, increasing government support, expansion of the hospitality industry and growth in the retail sector. Factors that negatively affected growth in the historic period include data privacy concerns.

Going forward, the rising adoption of digital out of home (DOOH) advertising, rise in smart cities initiatives, increase in demand for digital advertising, increasing focus on customer engagement and rising urbanization will drive the market. Factors that could hinder the growth of the digital signage software market in the future include high initial investment and limited availability of skilled personnel and technical expertise.

The digital signage software market is segmented by software into edge server software, content management system and other software. The content management system market was the largest segment of the digital signage software market segmented by software, accounting for 51.87% or $5.2 billion of the total in 2023. Going forward, the edge server software segment is expected to be the fastest growing segment in the digital signage software market segmented by software, at a CAGR of 14.48% during 2023-2028.

The digital signage software market is segmented by service type into installation services, maintenance and support services and other service types. The maintenance and support services market was the largest segment of the digital signage software market segmented by service type, accounting for 48.33% or $4.8 billion of the total in 2023. Going forward, the maintenance and support services segment is expected to be the fastest growing segment in the digital signage software market segmented by service type, at a CAGR of 14.33% during 2023-2028.

The digital signage software market is segmented by application into healthcare, retail, corporate, hospitality, entertainment, transportation, banking and other applications. The retail market was the largest segment of the digital signage software market segmented by application, accounting for 28.8% or $2.9 billion of the total in 2023. Going forward, the healthcare segment is expected to be the fastest growing segment in the digital signage software market segmented by application, at a CAGR of 16.42% during 2023-2028.

North America was the largest region in the digital signage software market, accounting for 33.91% or $3.4 billion of the total in 2023. It was followed by Asia-Pacific, Western Europe and then the other regions. Going forward, the fastest-growing regions in the digital signage software market will be Asia-Pacific and Africa, where growth will be at CAGRs of 15.90% and 15.32% respectively. These will be followed by the Middle East and South America, where the markets are expected to grow at CAGRs of 14.71% and 14.21% respectively.

The global digital signage software market is highly fragmented, with a large number of small players operating in the market. The top ten competitors in the market made up to 4.65% of the total market in 2023. Poppulo (Four Winds Interactive LLC) was the largest competitor with a 0.75% share of the market, followed by Scala Inc. with 0.73%, Panasonic Holdings Corporation with 0.69%, Samsung Electronics Co. Ltd. with 0.63%, Hexnode with 0.45%, BrightSign LLC with 0.41%, ViewSonic Corporation with 0.30%, Mvix (USA) Inc. with 0.26%, LG Electronics Inc. (SuperSign) with 0.22% and Broadsign International LLC with 0.21%.

The top opportunities in the digital signage software market segmented by software will arise in the content management system segment, which will gain $4.6 billion of global annual sales by 2028. The top opportunities in the digital signage software market segmented by service type will arise in the maintenance and support services segment, which will gain $4.6 billion of global annual sales by 2028. The top opportunities in the digital signage software market segmented by application will arise in the retail segment, which will gain $2.8 billion of global annual sales by 2028. The digital signage software market size will gain the most in the USA at $2.2 billion.

Market-trend-based strategies for the digital signage software market include secure and scalable content management solutions for modern organizations, focus on introducing cloud-based platforms for enhanced remote display management, unlocking immersive viewing experiences for multiple displays and integration of artificial intelligence to optimize content delivery.

Player-adopted strategies in the digital signage software market include focus on enhancing operational capabilities and product offerings through strategic partnerships and strengthening business operations through new product solutions.

To take advantage of the opportunities, the analyst recommends the digital signage software companies to focus on secure and scalable solutions, focus on cloud-based display management, focus on immersive viewing experiences, focus on AI integration for personalized content, focus on the edge server software segment, focus on maintenance and support services, expand in emerging markets, continue to focus on developed markets, provide competitively priced offerings, focus on targeted digital marketing campaigns, invest in strategic partnerships and alliances and focus on the healthcare segment.