Digital Signage Media Player Market Size, Share & Trends Analysis Report By Components (Hardware, Software), By Product (Entry Level, Advanced Level, Enterprise Level), By Applications (Retail, Hospitality, Corporate, Transportation, Others) and By Region(North America, Europe, APAC, Middle East and Africa, LATAM) Forecasts, 2022-2030

Market Overview

The global digital signage media player market size 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).

A media player, also a digital signage media player, is a device that plays content on any digital display. These players are not software, but they help make digital signage setup run smoothly by connecting to the content management system. The global digital signage media player market is expected to grow during the forecast period due to the increasing demand for interactive digital signage and video walls. The need for digital signage media players is driven by a rise in the market for improved brand visibility and the expanding use of digital menu boards in restaurants.

Market Dynamics

Global digital signage media player market drivers

Growing context-aware advertising and a rich customer experience

Digital signage has primarily taken the place of printed signage in traditional advertising, aiming to attract and keep customers through long-term cost-effectiveness. Current content marketing dynamics have rendered printed signs such as billboards and posters as one-time-use messages that are regularly discarded. The main drivers of the high adoption rate of these devices in the commercial sector are rising digital advertising spending and budgets allotted by businesses for digitization. Mainly, Bluetooth/BLE and digital signage are efficient for contextual marketing.

Mobile apps that support beacons collect user information to send out customized messages. Media player providers must integrate the necessary connectivity for the same. Quick-service restaurant brands have invested heavily in hardware and software integrations to attract customers. The third generation of digital signage is also called interactive digital signage because users can engage with the content management system, which allows for more interaction, and promises to give customers a more individualized experience.

Consistent rise in dooh spending

Internet advertising has never directly competed with traditional out-of-home advertising. In its most recent guidelines, the Out of Home Advertising Association of America (OAAA) suggests switching to an impression-based measurement system. The goal is to give forecast and "reconciled-as-delivered" daily impressions, as opposed to the traditional way of relying on ad exposure. According to OAAA, out-of-home will significantly increase in 2021, primarily due to digital. Furthermore, despite a relatively small spending base, programmatic out-of-home advertising is growing by over 100% yearly. A significant opportunity for the sector is the ability to conduct business and use more typical digital ad sales methodologies for advertisers in out-of-home settings.

Global digital signage media player market restraints

Standardization and technological complexity

It can be challenging for end-users to build and implement the infrastructure for digital signage on their own. Its complexity necessitates knowledge in several fields, including IT, audiovisual, software, mechanical, and display technologies. The interoperability of media players powered by Intel processors with a wide range of commercially available displays has been promised by the Open Pluggable Specification (OPS). The commercial display panels that Samsung is working on with embedded SoC technology could be used as media players for digital signage, eliminating the need for external players. This reduces expense and complexity while making it easier to operate digital signage networks.

Global digital signage media player market opportunities

Technological advancements

Additionally, with people becoming more aware of safety precautions, digital signage is being used on the market to manage and restrict traffic into any facility. As an interactive digital signage solution with prerecorded content and straightforward queuing, Videotel Digital's RF PUSH Handheld Remote is controlled by one person. For the vendors who keep innovating the solutions to offer new capabilities in the market, such evolving digital signage applications open new paths and opportunities. The market vendors are concentrating more on expanding large format displays with capabilities for digital signage.

Future growth of SaaS and cloud-based suites is anticipated as remote updating becomes more straightforward and feasible. BrightSign and NEC Display Solutions will offer an integrated digital signage solution. Many retailers are integrating retail technologies into their business practices, including interactive shop windows, endless aisles, self-service kiosks, multi-user touchscreens, augmented reality, object recognition, product sensors, QR codes, mobile payments, and facial recognition. Additionally, many interactive shop windows are now available on the market, enabling retailers to maximize store space by creating seemingly endless aisles for the entire catalog.

Regional Analysis

By region, the global digital signage media player market is segmented into North America, Europe, Asia-Pacific, the Middle East and Africa, and South America.

Asia-pacific dominates the global market

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 manufacturing powerhouse and one of the fastest adopters of technology, which helps to fuel the market expansion. As a result, China is already a sizable market for outdoor advertising (OOH). Due to developed infrastructure in major cities with dense populations that allow for dense distribution of digital screens, the nation is moving toward digital out-of-home advertising or DOOH. Infrastructure development in China also presents several opportunities for digital signage products there. The nation's digital signage players have regularly undergone innovations. Shenzhen Yongshixin Electronics Co. Ltd. launched China's first ultra-thin vertical digital signage player in October 2020. Such cases show that significant investments are being made to establish new digital signage systems to capture a share of the national advertising market.

North America is expected to grow at a CAGR of 8.0%, generating USD 781.63 million during the forecast period. The United States is a significant market for digital signage. In various backgrounds, including retail stores, transit systems, outdoor advertising, restaurants, museums, office buildings, and public spaces, the United States pioneered digital signage. Media players are crucial to digital signage and are undergoing rapid technological, network connectivity, and user-friendliness changes. Since it can quickly convey information to meet customer demands, digital signage has become an essential part of IT infrastructure. In order to efficiently reduce face-to-face interaction while still maintaining operations and providing customer service, digital signage is commonly utilized.

In Europe, the nation's hospitality industry is undergoing several updates to ensure improved customer engagement and entertainment as travelers increasingly prioritize technology when choosing hotels, cruises, and other accommodations. For instance, AIDA cruises, one of the top German-speaking cruise lines, upgraded to an interactive in-cabin infotainment system in October 2020 using Accommtec's ArtioGuest portal solution. The solution was implemented in TVs installed in the cruise's reception areas, spas, and lounges, along with digital signage that showed information about upcoming events, bars, restaurants, open times, live sports events, news channels, and the weather. The increased need for digital signage media players directly results from the centralization of most information processing. Airports, bus terminals, and train stations are incorporating digital displays to notify passengers about platforms, arrivals, departures, weather forecasts, travel delays, and baggage claim status.

One of the most powerful nations in Latin America is Brazil. There is a growing need for digital signage solutions due to the country's flourishing commercial infrastructure and rising urbanization rate. Solutions for digital signage are essential for increasing communication effectiveness. Adopting such solutions can assist end-users in expanding their reach in urban areas to keep up with the expanding urban population. The number of investments in digital signage solutions has increased as the nation's malls and movie theaters gradually reopened. The country's expanding corporate and sporting events also present market opportunities for digital signage media players.

The United Arab Emirates Vision 2021 strongly emphasizes a competitive knowledge economy, a safe public, improved education systems, a cohesive and preserved identity, and a sustainable environment and infrastructure in the Middle East and Africa. As a result, digital signage solutions are in high demand. The digital signage media players market is driven by investments in commercial properties like shopping centers and other high-end projects, particularly in developed cities like Dubai, Abu Dhabi, and others. For instance, the UAE-based Al Waleed Investment Group's real estate investment division, Al Waleed Real Estate, announced the completion of its shopping center in Jumeirah, Dubai, in March 2021. The brand-new shopping center has 44 stores of various sizes and a variety of domestic and foreign brands. As more sporting and business events are held in the nation with spectator attendance, this is also helping to drive the market for digital signage solutions.

Segmental Analysis

The global signage media player market is segmented by component, product, and application.

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. Physical elements such as screens (digital displays), media players, network components, mounts, or enclosures are examples of hardware for a digital signage setup. Digital images, video, streaming media, and information are displayed on digital signs using LCD, LED, and projection. A media player serves as a link between digital screens and CMS software. Some commercial monitors are set up as System on a Chip (SoC) players so they can connect to devices without an external media player. The SoC oversees housing the CPU, GPU, RAM, storage, connectivity options, video codecs, and output on such devices.

A content management system (CMS) is software that runs on a media player and is made to find and play pertinent media, such as images, videos, and streamed content like tweets, the weather, or the news. A media player is a requirement for a digital signage setup unless a Smart TV or the complementary screen can record or download the digital data. The CMS has a wide range of levels; some are available via subscription, while others require a one-time payment.

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. A typical entry-level player has a low-cost, low-power Intel Atom processor with up to 4GB of memory. Additionally, they have Wi-Fi capabilities, smaller SSD hard drives, and run either Linux or Windows. An entry-level media player is typically used for straightforward applications and other displays with a lighter content load because it cannot smoothly display demanding videos and scrolling text. Digital signage is generally viewed from one of three locations: the point of transit, the point of waiting, or the point of sale. These systems have fanless and low-power digital signage players and are ideal for entry-level, budget-friendly projects like self-service kiosks, retail signage, and e-menus. They are suitable for simple digital signage applications.

An Intel i3 processor, 4GB of memory, a 120GB SSD drive, and Windows are typically the bare minimum specifications used by advanced-level digital signage media player configurations. This standard configuration's wide range of content includes videos and scrolling text. After the first player is installed and operational, customers can easily upgrade their systems. Still, extra processing power is always suggested as a positive addition if it is necessary to upgrade or enhance the content capability. The ability to program channels with real-time content, such as time and weather information, community announcements, personal marketing communications, or other advanced options, allows for the distribution of rich media or data via advanced-level signages.

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. Shopping experiences are about to revolutionize thanks to new trends in visual retail technology. Utilizing cutting-edge technology to deliver the correct information to the right audience and having the flexibility to change the data in real-time is an innovative way to use technology to a retailer's advantage. Retail chains use digital signage to increase sales revenue and market share while improving customer satisfaction and brand loyalty. Digital signage is widely used in restaurants and Quick Service Restaurants (QSRs). The use of digital menus is expanding in this sector. 

Digital signage can entertain and inform by delivering real-time messages to increase sales and promotion uptake. Hospitality and hotels use digital signage extensively. They can display conference and event information in a lobby to help manage events. Screen sizes include countertop units and multi-screen video walls. The hotel industry is boosting digital signage to engage customers before they enter the lobby. Interacting with users and guests on demand has enabled the automation of information-driven services like concierge and way-finding, reducing costs.

Recent Developments

• 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.
• 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.