Wayfinding System Market Introduction

Wayfinding is sensing where a person is positioned in a building or an environment and finding out how to reach the desired location from the present location. A number of codes go into wayfinding, such as architectural clues, sight lines, lighting, and signage; these are known as information support systems for a wayfinding system. Users rely on these codes when making decisions about how to reach their destination. In this market, whether it is a single floored structure or an entire campus, vendors can modify a wayfinding system to meet the needs of a client.

Wayfinding System Market - Competitive Landscape

  • Juniper Networks has plans to acquire Mist Systems, a wireless LAN vendor, for US$405 Mn and integrate Mist’s cloud and AI-based network management system with Juniper's portfolio. Along with its AI and machine learning capabilities, Mist's location-based applications are embedded with virtual wayfinding systems.
  • SignAgent announced the launch of its mobile app, which iOS users can download on iPad and iPhone in the Apple App Store. This new app considerably increases speed of the process of collecting on-location data for huge wayfinding and signage projects.

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AECOM

AECOM has its headquarters in Los Angeles, California, the U.S. and was established in the year 1990. It is a multinational engineering firm that provides design, construction, consulting, and management services to a varied set of global customers. AECOM oversees the PATH facilities, engineering and site preparation, security, and wayfinding systems for transportation hubs, designed with the required infrastructure for the project.

SignAgent Inc.

Founded in 1987, SignAgent Inc. is located in Burlington, Ontario, Canada. SignAgent Inc. is a cloud-based, wayfinding and signage project management platform that gives a client complete control on the project throughout the project’s life cycle. SignAgent streamlines every single facet of sign programming projects for each member of the signage team, whether designing a signage system for a stadium or university campus, office building, or health care facility.

TATA ELXSI

Tata Elxsi was established in 1989 and is based in Bengaluru, India. Tata Elxsi is an Indian design company and is a part of the Tata Group. The company provides design and technology solutions and services across industries. It helps spaces interact with people with the help of signage and way-finding systems for corporate campuses, public spaces, and mass transit.

Visix, Inc.

Established in 1980, Visix, Inc. is located in Peachtree Corners, Georgia, the U.S. The company deals in unified visual communication solution for every single business. Visix provides a suite of solutions including digital signage, room management, and content design tools that integrate existing systems of a company with each other. The solutions also include interactive custom wayfinding, e-paper room signs, and applications for targeted messaging to devices such as desktops and mobile phones, paired with multi-tier support and service.

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Wayfinding System Market Dynamics

Digital Framework that Goes Beyond Providing Basic Information Driving Demand for Wayfinding Systems

Advancements in wayfinding have responded to unique needs of a client to establish markers and identification of patterns by crafting immersive spatial relationships between customers or users and the locality or areas where wayfinding is required. Signs, directional aids, and maps remain in force; however, companies are working for digital framework that goes further than providing basic information.

Applications such as cellular Wi-Fi systems and Bluetooth-driven beacon systems can be used by people in order to navigate space in a more profound way and to make wayfinding convenient for every user. This expansion has encouraged the growth of omni-channel experience or multi-device connectivity, which can inform users where they currently are, where is the point they need to be, and what they can do once they reach the desired location.

High Cost of Infrastructural Improvements to Hamper the Growth of the Wayfinding System Market

Creating an omni-channel experience comes with extensive infrastructural changes for cities especially soft-infrastructural developments. Considerable collaboration is required together with development and key stakeholders to reinvent the user experience by enhancing the wayfinding approach and construct a completely connected multi-modal experience. This is a task that requires huge spend on infrastructure and necessitates significant cooperation with local governments, a city’s chief technology officer, etc. to utilize benchmark technologies, that may lead to hurdles in the wayfinding system market.

Other challenges facing the wayfinding system market are lack of standards and design complexity.

Wayfinding System Market Segmentation

Based on technology, the wayfinding system market is segmented into

  • LED
  • LCD
  • Front Projections

Based on content, the wayfinding system market is segmented into

  • Web-based Content
  • Installed Content

In terms of end-use industry, the wayfinding system market is segmented into

  • Retail
  • Corporate Offices
  • Government
  • Entertainment
  • Hospitality
  • Healthcare
  • Restaurants
  • Banking
  • Manufacturing
  • Others (Public Spaces, Education)

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

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  • Supply and demand
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  • Value chain and stakeholder analysis

The regional analysis covers:

  • North America (U.S. and Canada)
  • Latin America (Mexico, Brazil, Peru, Chile, and others)
  • Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
  • Eastern Europe (Poland and Russia)
  • Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
  • Middle East and Africa (GCC, Southern Africa, and North Africa)

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This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

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The following regional segments are covered comprehensively:

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Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

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The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

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