Digital Wayfinding Solutions Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Component (Software and Services), Deployment (On-Premise and Cloud-Based), Application (Airport, Retail, Healthcare, Museum, and Others)
The digital wayfinding solutions market is projected to reach US$ 665.0 million by 2028 from US$ 234.6 million in 2021; it is expected to grow at a CAGR of 16.0% from 2021 to 2028.
Significant features of interactive wayfinding software include drag-and-drop interface, WYSIWYG workflow, interactive map management, content scheduling, multi-screen support, and remote deployment. These platforms are capable of API interactions with various partner apps, which further expands their capabilities. APIs also support web integrations, allowing businesses to integrate plan your visit modules in their online content. Users may use templates to create digital reader boards, interactive navigation displays, and other digital signage types. End users such as governments, retail malls, hotels, and airports have many options to select among interactive wayfinding software solutions. As a result, obtaining a price requires a specific quote. These apps may be used by almost any company that works in monumental buildings and places, to communicate critical information to its consumers. Aaztec Solution is a cloud-based smart TV digital signage software that includes an interactive wayfinding solution with dynamic maps and a user-friendly content management system. Moreover, 22Miles offers 3D interactive navigation for touchscreens, video walls, and mobile devices, along with intelligent routing, for any audience or setting. Thus, the popularity of interactive wayfinding software is expected to drive the demand for digital wayfinding solutions market during the forecast period.
North America leads the digital wayfinding solutions market in terms of revenue share. The presence of major market players in the US is one of the prominent factors contributing to the market growth in the region. VIEWItMEDIA is a wayfinding digital signage company that has operations across North America with the installation of more than 1,243+ electronic wayfinding signs and 515,248 signage systems. Seamless Seattle, a smart city in Seattle, is based on the Legible London concept focused on transport in London. The goal of this smart city initiative is to make the city more legible and accessible for locals, commuters, and visitors. A citywide wayfinding system is being incorporated in Seattle to achieve this goal of being the most walkable city in the US. The system was designed by Applied Information Group, a multi-discipline design company, and a wayfinding expert hired by the Seattle Department of Transportation (SDOT). Thus, the above mentioned factors contributing to the digital wayfinding solutions market growth in the region.
The digital wayfinding solutions market in Asia Pacific is expected to grow at the fastest CAGR during the forecast period. Rapid technological advancements and the adoption of these technologies, government measures to support improvements in the industrial sector, and an increase in the middle-income group's discretionary income are among the factors driving the overall economic growth in this region. The broad-scale use of digital wayfinding solutions is attributed to the fast-increasing demand for digital signage boards in the developed countries of APAC, contributing to the digital wayfinding solutions market growth in the region
COVID-19 has had a significant impact on North America due to a high number of immigrants traveling through the region, the lack of an initial stage lockdown in the country, and the presence of a large number of virus carriers in the country, which contributed to the rapid disease spread in 2020. The IT sector in the region is dominated by two countries: the US and Canada. The digital wayfinding solutions market in two large economies in North America—the US and Canada—has been flourishing due to the use of the internet on a large scale and the presence of major solutions providers in the region.
The overall size of the digital wayfinding solutions market has been derived using both primary and secondary sources. Exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining an overview and forecast for the digital wayfinding solutions market with respect to all the segments. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain more analytical insights. The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, national sales managers, and external consultants, including valuation experts, research analysts, and key opinion leaders, specializing in the digital wayfinding solutions market. The key companies operating in the digital wayfinding solutions market and profiled in the report include 22 Miles, Inc.; Acquire Digital; Click Grafix; ConnectedSign; Gozio Inc.; Jarma Technologies LLC; LamasaTech Ltd; Ping HD; TrouDigital; Visix, Inc.; Xtreme Media Pvt. Ltd.; Everbridge Inc.; and Digital Wayfinding Solution (Advertise Me Pty Ltd).
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