New York, April 26, 2022 (GLOBE NEWSWIRE) -- The Insight Partners published latest research study on “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), and Geography”, the global digital wayfinding solutions market growth is driven by the rising investments in the AR integration software that uses digital wayfinding, increasing demand for AR devices and solutions in the healthcare industry, and growing demand for wayfinding in the e-commerce and retail industries.
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| Report Coverage | Details |
| Market Size Value in | US$ 234.62 million in 2021 |
| Market Size Value by | US$ 664.95 million by 2028 |
| Growth rate | CAGR of 16.0% from 2021 to 2028. |
| Forecast Period | 2021- 2028 |
| Base Year | 2021 |
| No. of Pages | 183 |
| No. Tables | 115 |
| No. of Charts & Figures | 84 |
| Historical data available | Yes |
| Segments covered | Component, Deployment, Application, and Geography |
| Regional scope | North America; Europe; Asia Pacific; Latin America; MEA |
| Country scope | US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
Digital Wayfinding Solutions Market: Competitive Landscape and Key Developments
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) are among the key players profiled during the study of the digital wayfinding solutions market. In addition, several other essential market players were studied and analyzed to get a holistic view of the market and its ecosystem.
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In 2022, Xtreme Media announced its strategic alliance with Rahi, India's largest global enterprise solutions supplier, which will reshape the display solutions industry in India and across the world.
In 2021, 22MILES announced a partnership with CISCO to allow seamless integration of the version 6 of their PublisherPro.
The implementation of digital signage boards in several companies stalled dramatically during the recession triggered by COVID-19 in 2020. However, the lowered adoption was primarily a temporary side effect of the pandemic. Investments in digital wayfinding solutions grew with the need for change in operations at various hospitals and retail facilities, mainly due to the social distancing measures taken by governments and administrations of respective facilities. Enterprises are focusing on modifying their operations to be able to comply with the social restrictions imposed by governments and to mitigate the adverse effects of the pandemic on their revenue performance. For example, the Android-powered tablets offered by PPDS, a display solutions company, were deployed in the Krankenhaus der Augustinerinnen hospital in Cologne, Germany, in April 2021. The company deployed WizAI AI digital signage software to provide interactive wayfinding, along with displaying details regarding cleaning schedules, hygiene standards, and room availability. The hospital deployed 14 10-inch Philips touch screens as well as a remote management console to update and enhance the displays.
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In the Middle East & Africa, governments’ initiatives and policies are supporting the digital signage market growth. For instance, the Dubai Roads and Transport Authority (RTA) selected VRCraftworks, a UK-based firm, for its customized augmented reality wayfinding solutions. A hi-tech network of 1,600 digital and static wayfinding signage boards, all completely integrated with the venue's state-of-the-art infrastructure, guides guests across DEC's massive halls and conference rooms that are spread across 45,000 m2. Blue Rhine Industries, a Dubai-based digital display and signage producer, is funding this one-of-a-kind Dubai exhibition center.
The ability of digital signage products to provide a better consumer experience across online retail sites is a major factor contributing to the digital wayfinding solutions market growth in South America. Digital signage accounts for a major portion of ad income for businesses in several industries; this is mainly ascribed to its inherent benefits, such as quick information circulation, easy control, and customization. In addition, the operations of several US-based digital signage vendors are growing in South America, and the region now has several self-service kiosks in malls and healthcare centers with advanced features.
Based on component, the digital wayfinding solutions market is segmented into software and services. In 2021, the software segment led the market with a larger share. Based on deployment, the digital wayfinding solutions market is segmented into on-premise and cloud-based. In 2021, the on-premise segment accounted for a larger market share. Based on application, the digital wayfinding solutions market is segmented into airport, retail, healthcare, museum, and others. In 2021, the retail segment accounted for the largest share of the market. Based on geography, the digital wayfinding solutions market is segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM). In 2021, North America accounted for a significant share of the digital wayfinding solutions market.
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Impact of COVID-19 Pandemic on Digital Wayfinding Solutions Market:
From social distancing to daily health inspections, and from traffic management to limiting physical touchpoints, operating a facility in current conditions, involving lowered COVID-19 infection rate, involves a lot more moving of public, transportation vehicles than it did before the pandemic. Fortunately, the technology sector, particularly the digital signage and wayfinding, communications, and hardware industries, have been striving to develop solutions to support moving of public, transportation vehicles safeguards and ensure their safer return to their respective locations. Hence, the COVID-19 pandemic has benefitted the digital wayfinding solutions market growth in the MEA.
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