Global Digital Signage Media Player Market Grows Steadily at a CAGR of 8.81%

Introduction

A media player that plays content on any digital display is a digital signage media player. These players are not software, but they help make digital signage setup run smoothly by connecting to the content management system. Due to the rising demand for interactive digital signage and video walls, the global market for digital signage media players is anticipated to expand during the forecast period.

Growing Rich Customer Experience and Context-Aware Advertising Drives the Global Market

In traditional advertising, digital signage has largely replaced printed signage to attract and retain customers through long-term cost-effectiveness. Printed signs like billboards and posters were one-time-use messages frequently thrown away because of the current dynamics of content marketing. The rise in digital advertising spending and budgets set aside by companies for digitization are the primary factors behind the high adoption rate of these devices in the commercial sector. Digital signage and Bluetooth/BLE are primarily effective for contextual marketing. Quick-service restaurant brands have significantly invested in hardware and software integrations to entice and retain customers. The third generation of digital signage is also called interactive digital signage. Users can engage with the content management system, allowing for more interactivity and promising to provide customers with a more individualized experience.

Technological Advancements Creates Tremendous Opportunities

As people grow more aware of safety considerations, digital signage is also being employed on the market to regulate and control traffic into any institution. One person can operate Videotel Digital's RF PUSH Handheld Remote, an interactive digital signage solution with prerecorded content and simple queuing. Such evolving digital signage applications open new paths and opportunities for vendors who keep innovating solutions to offer new capabilities in the market. The market's vendors increasingly emphasize developing large format displays with digital signage capabilities. SaaS and cloud-based suites are expected to expand in the future as remote updating becomes more accessible and more practical.

Regional Analysis

Asia-Pacific is the most significant shareholder in the global digital signage media player market and is expected to grow at a CAGR of 8.98% during the forecast period. China is a technological innovator and a manufacturing leader, accelerating the market's growth. China is already a sizable market for outdoor advertising as a result (OOH). The country is moving toward digital out-of-home advertising, or DOOH, due to developed infrastructure in large cities with dense populations that allow for dense distribution of digital screens. China's infrastructure development also offers numerous opportunities for digital signage products. Players in digital signage across the country frequently undergo innovations. Shenzhen Yongshixin Electronics Co. Ltd. released the country's first ultra-thin vertical digital signage advertising player in October 2020. Such situations suggest that sizable investments are being made to develop new digital signage solutions to snag a share of the market for national advertising.

North America is anticipated to grow at a CAGR of 8.0%, generating USD 781.63 million during the forecast period. The US is one of the biggest markets for digital signage. The United States pioneered digital signage in various locations, including retail stores, transit systems, outdoor advertising, restaurants, museums, office buildings, and public spaces. Digital signage cannot function without the media player, evolving quickly regarding technology, network connectivity, and usability. Digital signage has become a crucial component of the IT infrastructure because it can quickly convey information to meet customer demands. Digital signage has been used to effectively reduce face-to-face interaction while still maintaining operations and offering customer service.

As travelers prioritize technology when booking hotels, cruises, and other accommodations, Europe's hospitality sector is undergoing changes to improve customer engagement and entertainment. AIDA cruises, a top German-speaking cruise line, upgraded to an interactive in-cabin infotainment system in October 2020 using Accommtec's ArtioGuest portal solution. Digital signage displayed information about upcoming events, bars, restaurants, open times, live sports events, news channels, and the weather on TVs in the cruise's lobby, spas, and lounges. Data centralization increases the demand for digital signage media players. Airports, bus terminals, and train stations are adopting digital signage to inform passengers about platforms, arrivals, departures, weather forecasts, travel delays, and cancellations.

Key Highlights

• The global digital signage media player market was valued at USD 1,659.5 million in 2021. It is expected to reach USD 3,548.10 million by 2030, growing at a CAGR of 8.81% during the forecast period (2022–2030).
• Based on components, the global media player is bifurcated into hardware and software. The hardware segment owns the highest market share and is expected to grow at a CAGR of 8.73% during the forecast period.
• Based on product, the global media player is bifurcated into entry-level, advanced level, and enterprise level. The entry-level segment is the highest contributor to the market and is expected to grow at a CAGR of 8.09% during the forecast period.
• Based on application, the global media player is bifurcated into retail, hospitality, corporate, and transportation. The retail segment owns the highest market share and is expected to grow at a CAGR of 8.11% during the forecast period.
• Asia-Pacific is the most significant shareholder in the global digital signage media player market and is expected to grow at a CAGR of 8.98% during the forecast period.

Competitive Players

Competitive Players

The global digital signage media market’s major key players are 3M Company, Advantech Co. Ltd, AOPEN Inc., Barco, BrightSign LLC, Broadsign, Cisco Systems Inc., ClearOne, Dell Inc., Gefen, HaiVision Inc., Hewlett Packard Enterprise, and ONELAN.

Recent Developments

Market News

• In September 2022, Barco, a world pioneer in control room visualization, and LundHalsey, a recognized expert in control room furniture solutions, inked an ecosystems partner agreement for the EMEA region. As a result, if possible, the two companies will approach the market together, presenting a complete package that comprises LundHalsey furniture and Barco's OpSpace operator workspace software.
• In July 2022, BrightSign, LLC, the world leader in digital signage media players, announced that Green City Solutions, a German biotech developer, has selected BrightSign media players to power its new DOOH panels developed to solve the pressing challenges of air pollution and rising urban temperatures.

Segmentation

Global Digital Signage Media Player Market:  Segmentation

By Components

• Hardware
• Software

By Product

• Entry Level
• Advanced Level
• Enterprise Level

By Applications

• Retail
• Hospitality
• Corporate
• Transportation
• Others

By Regions

• North America
• Europe
• Asia-Pacific
• Latin America
• The Middle East and Africa