Digital Wayfinding Solutions Market Size & Share Analysis 2028

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

  • Report Code : TIPRE00012451
  • Category : Technology, Media and Telecommunications
  • Status : Published
  • No. of Pages : 183
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The digital wayfinding solutions market is projected to reach US$ 664.95 million by 2028 from US$ 234.62 million in 2021; it is expected to grow at a CAGR of 16.0% from 2021 to 2028.

The adoption of digital wayfinding is increasing across the world due to 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. Providing digital wayfinding help may result in several advantages, ranging from improved consumer engagement to higher customer satisfaction. Colleges and universities use these solutions to help students, visitors, and vendors better traverse across their campuses. The solutions especially help new students who are still getting used to their surroundings, as well as guests who need to be on time for appointments and meetings. In shopping malls, customers can use freestanding digital wayfinding kiosks to discover related retailers, services, or restaurants. In government facilities such as courthouses and DMVs, digital wayfinding solutions are used to help individuals locate the rooms or facilities in which they are needed. The availability of digital wayfinding kiosks, increasing adoption of wayfinding in various industries, and high investments in the digital signage market—coupled with technological advancements and growing digitization amid the COVID-19 crisis—are the main factors driving the digital wayfinding solutions market growth.

Digital wayfinding solutions use external data to assist users in going from one point to another in the most efficient way possible. Touchscreen displays—in the form of big freestanding kiosks, wall-mounted signage, or tablets and smartphones—can be used to show information that may be utilized for directional guidance. Large-scale kiosks and screens are used to provide a full view for as many people as possible to convey generally relevant information. Individuals utilize smaller, personal displays for more specialized wayfinding, contributing to the digital wayfinding solutions market growth.

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Digital Wayfinding Solutions Market: Strategic Insights

digital-wayfinding-solutions-market
Market Size Value inUS$ 234.62 million in 2021
Market Size Value byUS$ 664.95 million by 2028
Growth rateCAGR of 16.0% from 2021 to 2028.
Forecast Period2021- 2028
Base Year2021
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– Digital Wayfinding Solutions Market

Impact of COVID-19 Pandemic on Digital Wayfinding Solutions Market

While the COVID-19 pandemic has posed significant threats to organizations worldwide, it has offered significant opportunities for the growth of the digital wayfinding solutions market. Digital wayfinding technology aids navigation in interior areas and directs individuals through a physical setting. Wayfinding technology has been in use in distinct places such as public transportation, malls, and retail stores since the global outbreak of COVID-19. With the surge in COVID cases, hospitals became overburdened, and they were compelled to dedicate specific sections and services to these patients. Overcrowding may create chaos, making it difficult to send patients and visitors to the appropriate venues. Wayfinding technology has been proposed as a technique to effectively manage patients. Airport wayfinding has undergone significant changes due to the emergence of new technologies and changing consumer expectations. Delta Airlines, which employs a variety of technologies to enhance navigation, recently revealed intentions to create a "Parallel Reality" experience for passengers at Detroit Metropolitan Airport. Various airports are implementing both digital and static signs to lead passengers to locations where they may get tested or receive health-related information. Wayfinding in airports has already been critical in assisting passengers in finding their way; thus, the digital wayfinding solutions market is likely to continue to flourish even after the mitigation of adversities caused by the COVID-19 pandemic.

Lucrative Regions for Digital Wayfinding Solutions Market

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Market Insights – Digital Wayfinding Solutions Market

Rising Adoption of Digital Signage for Wayfinding Drives Digital Wayfinding Solutions Market Growth

Wayfinding digital signage boards are increasingly being adopted across several institutions, including schools, corporations, airports, and shopping malls. Wayfinding is one of the most common applications of digital signage boards in schools. The size of the educational institute campuses grows with a rise in the number of students. Such large premises may be challenging to traverse, and new students may also get lost occasionally. In such cases, TelemetryTV digital signage products and other similar products can be installed as robust wayfinding tools, which also allow schools to display classroom timetables, lecture locations, and upcoming events to staff and students from any point on campus. The abovementioned software has automatic operations as it synchronizes the events calendar across different displays by connecting to the user’s 25Live account. Further, airports are investing in mobile-friendly, app-based solutions. Advancements in geolocation technology allow airports to give more tailored and targeted information via digital displays, kiosks, and panels for wayfinding applications. These gadgets provide real-time data and interactive maps to assist travelers in navigating airports, finding nearby bars and restaurants, understanding security lines, and reaching their gates, contributing to the digital wayfinding solutions market growth.

 

Players operating in the digital wayfinding solutions market are mainly focused on the development of advanced and efficient products.

  • In 2021, 22Miles Inc. announced the launch of Digital Signage Ready (DSR), a collection of ready-to-use software and service bundles that make it easy to set up and deploy digital signage.
  • In 2021, Acquire Digital announced the launch of a new and improved website that better shows its wide project portfolio from one location.

Digital Wayfinding Solutions Market – Companies Profiles

  • 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.
  • Digital Wayfinding Solution (Advertise Me Pty Ltd)
Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Component, Deployment, Application, and Geography

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States

Frequently Asked Questions


What are reasons behind digital wayfinding solutions market growth?

The adoption of digital wayfinding is increasing across the world due to 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. Access to digital wayfinding is quickly becoming a standard. Providing digital wayfinding help may result in several advantages, ranging from improved consumer engagement to higher customer satisfaction.

What are market opportunities for digital wayfinding solutions market?

Colleges and universities use these solutions to help students, visitors, and vendor’s better traverse across their campuses. The solutions especially help new students who are still getting used to their surroundings, as well as guests who need to be on time for appointments and meetings. In shopping malls, customers can use freestanding digital wayfinding kiosks to discover related retailers, services, or restaurants. In government facilities such as courthouses and DMVs, digital wayfinding is used to help individuals locate the relevant room or facility in which they are needed to be present. The availability of digital wayfinding kiosks, increasing adoption of wayfinding in various industries, and high investments in the digital signage market—coupled with technological advancements and growing digitization, following COVID-19—are the main factors driving the digital wayfinding solutions market growth. However, the market growth is hindered by the high cost of the displays and kiosks meant for applications in public places.

Which region to dominate the digital wayfinding solutions market in the forecast period?

North America dominated the digital wayfinding solutions Market in 2020.

Which is the fastest growing region in the digital wayfinding solutions market during forecast period?

The APAC area, on the other hand, is expected to develop at the quickest rate throughout the projection period. Growing populations and increased demand for utility services in countries like China, India, and Japan are some of the reasons driving market expansion.

What are the future trend for digital wayfinding solutions market?

Advancements in technologies such as 3D mapping, indoor navigation and positioning, and extended reality, and their integration in digital wayfinding solutions are likely to introduce new trends in the market in the coming years.
3D Mapping: The 3D mapping technology allows users to construct a digital twin of any area by collecting all objects (including furniture, equipment, and other items) and adding any digital material, such as navigation signage, information locations, tutorials (for any devices or equipment), and much more. A specially installed equipment will project a picture on room's floor and walls. Signs, arrows for monitoring the viewing journey, and advertising material are examples. The administration panel allows the user to control all pointers from afar.

Who are the major vendors in the Digital Wayfinding Solution market?

The key companies operating in the digital wayfinding solutions market 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).

The List of Companies - Digital Wayfinding Solutions Market

  1. Acquire Digital
  2. Click Grafix
  3. ConnectedSign
  4. DIGITAL WAYFINDING SOLUTIONS
  5. Jarma Technologies LLP
  6. MetroClick
  7. Miles, Inc.
  8. Mindspace Digital Signage
  9. Visix, Inc.
  10. Xtreme Media Pvt. Ltd..

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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