Description

By 2027, the global digital signage media player market size is expected to grow at USD 2,473.5 million from USD 1378.6 million in 2020, at a CAGR of 8.71% from 2021 to 2027. The digital signage media player has played an essential role in influencing the purchase decision. Institutions, like government, public transit, retail stores, and healthcare, have been heavily relying on it to engage their targeted audiences better to interconnect their message. As digital signage media player enables messages and content to be displayed on a digital sign or electronic screen, the content can be changed without any modification to the physical sign. This is aligned toward an aggressive development over the next few years across various emerging economies. Adoption of the digital signage media player is increasing more popular and mainstream with technological enhancements and a decrease in the price.

Progressing installations of signage solutions in restaurants, bars, and similar are established to enhance the customer experience is estimated to propel the digital signage media player market demand over the forecast period. To substitute the conventional way of informing consumers through the menu cards, these devices are employed to control screens to display attention-grabbing advertisements and provide significant market opportunities to the industry. Moreover, the penetration of such devices in the retail sector is ascending, following the rising need for brand visibility, servicing the digital signage media player market demand.

The use of media players in the retail industry is rapidly increasing, owing to the demand for improving customer interaction and streamlining business operations. In the retail sector, digital signage media players evolved as an effective marketing and advertising tool for strengthening customer experience and branding. The screens displaying digital content combined with the media players contribute to the brand equity and customer vibe while supporting products and values smartly. The growing popularity of these devices can be attributed to the small, compact, and easy -to -install features suitable for video wall applications, outdoor environments, and professional installations, contributing toward the growth of the market studied.

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COVID-19 Impact on the Global Digital Signage Media Player

The COVID-19 pandemic has affected the market, as the manufacturing facilities were closed in the early phase and work from home trends have decreased demand. However, the scenario expanded the scope of marketing through digital signage media players across many industries, especially in hospitals and public places, which utilized the technology for displaying important information. The impact was different across several regions. Before the COVID-19 pandemic, 80% to 90% of all digital signage media players were used for primary digital poster purposes. Moreover, the cost was high in many European countries. This aided the market for media players in a pre-COVID situation. Even during the lockdown scenario, in retail and restaurant industries, 70 to 80% of customers buy inside the restaurant, and only 20% is drive-thru as most restaurants do not even offer drive-thru. Therefore, in countries, like Germany, many vendors have been utilizing digital signage media player solutions.

Retail chains, like McDonald's and KFC, were open in Europe, but the user could only pick up stuff and leave the store again. Due to these scenarios, many companies expanded their product offering in the region. In these socially distanced public spaces, digital signage media players have been adopted at newer arenas. Building owners to communicate procedures and protocols, business/residential information was shared via the display of the inspiring, vibrant imagery across large-scale, dynamic presentations. Responding to the sustained proliferation of video walls, the pandemic-related shifts, majorly on how content is shared, led Visix to add a four-output media player to its lineup with many new features. By responding to customer feedback, the company made the new player easier to set up while standardizing its multi-output player lineup on Nvidia Pascal GPUs. The new model comprises 8 GB of memory, 256 GB SSD storage, built-in wireless, and a Windows 10 IoT Enterprise OS.

Global Digital Signage Media Player Market Dynamics

Drivers: Trends Favoring the Growth of Context-Aware Advertising and Enrich Customer Experience

The majority of the traditional advertising that is printed signage has been replaced with digital signage media player, aiming at customer attraction and satisfaction through cost-effectiveness in the long run. Printed signages were single usage messages, including billboards and posters, which get disposed of very frequently due to the current dynamicity of content marketing. Increased digital advertising spending and allocated budgets by the companies toward digitization are the major reasons for the high adoption rate of these devices from the commercial segment. In particular, a digital signage media player coupled with Bluetooth/BLE offers a compelling combination in contextual marketing. Beacon-enabled mobile apps catch customer data to broadcast personalized messages. For the same, media player providers need to embed the required connectivity.

The retail sector is a widely adopted segment and had the highest investment in the digital signage media player used for advertising. With one major challenge being coordinating marketing campaigns while accommodating the individual needs of various locations, adopting a robust digital signage media player system is assisting the retail stakeholders to indulge in a much easier process. For instance, Acme Tools, a tools retailer, found out recently. In order to meet these marketing demands, Acme Tools resorted to Carousel Digital Signage Media Player and BrightSign for advanced digital signage media player solutions. Carousel Digital Signage Media Player offers a cloud-based content management system mainly overlooking the content upload and scheduling across multiple locations. BrightSign media players undertook the task of making the entire system manageable for Acme’s employees.

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Restraints: Technical and Standardization Complexity

Digital signage media players for end-users trying to develop and deploy the infrastructure on their own can be confusing. Being a complex undertaking, it requires expertise in various areas, such as IT, audiovisual, software, mechanical, and display technologies. In order to take advantage of complete solutions offered by value-added retailers (who incorporate products from partner hardware and software vendors), the need for technical ease and standardization of protocols is required. This not only eases installation but simplifies upgrades and reduces maintenance. Interoperability is another major concern in the market studied. This is highly dependent on creating standardized hardware with communicability and a platform of interoperability. Since the whole digital signage media player ecosystem involves multiple stakeholders, this fragmentation needs to end via collaborations and open-source technological adoption.

Scope of the Report

The study categorizes the digital signage media player market based on component, product, application, and regions.

By Component Outlook (Sales/Consumption, 2017-2027, USD Million)

  • Hardware
  • Software

By Product Outlook (Sales/Consumption, 2017-2027, USD Million)

  • Entry Level
  • Advanced Level
  • Enterprise Level

By Application Outlook (Sales/Consumption, 2017-2027, USD Million)

  • Retail
  • Hospitality
  • Corporate
  • Transportation
  • Other Applications

By Region Outlook (Sales/Consumption, 2017-2027, USD Million)

  • North America (US, Canada, Mexico)
  • South America (Brazil, Argentina, Colombia, Peru, Rest of Latin America)
  • Europe (Germany, Italy, France, UK, Spain, Poland, Russia, Slovenia, Slovakia, Hungary, Czech Republic, Belgium, the Netherlands, Norway, Sweden, Denmark, Rest of Europe)
  • Asia Pacific (China, Japan, India, South Korea, Indonesia, Malaysia, Thailand, Vietnam, Myanmar, Cambodia, the Philippines, Singapore, Australia & New Zealand, Rest of Asia Pacific)
  • The Middle East & Africa (Saudi Arabia, UAE, South Africa, Northern Africa, Rest of MEA)

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Hardware, by component, is accounted for the largest market share

By component, the digital signage media player has been segmented into hardware and software. Hardware, by component, accounted for the largest market share of 72.6% in 2020. The hardware of a digital signage media player setup includes physical components, such as screens (digital displays), media players, network components, mounts, or enclosures. Digital signs use LCD, LED, and Projection to display digital images, video, streaming media, and information.

A media player is a bridge between CMS software and digital screens. Some commercial monitors are configured as System on a Chip (SoC) players such that they do not require an external media player to connect to. The SoC on such devices is responsible for containing the CPU, GPU, RAM, storage, connectivity options, video codecs, and output. Media players are offered in several sizes. Android-based media players are generally small, ranging from the size of a USB stick to a palmtop computer.

On the other hand, media players that operate on Windows are more prominent, sizing up to home PCs. Most modern media players and TVs support HDMI and other cables, such as VGA, DVI, composite cable, etc. The screen's orientation also matters, with vertical portrait and horizontal landscape being the two primary choices. Mounting a screen vertically allows users to fit more information on a display, but horizontal displays are more readily available and easy to use as displays. Interactive digital signage media players can further include the audience by touching and controlling the screens.

The Middle East and Africa accounts for the highest CAGR during the forecast period

On the basis of regions, the global digital signage media player market has been segmented as North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. During the forecast period, the Middle East and Africa are estimated to hold the highest CAGR of 10.11% in the worldwide digital signage media player market. In the Middle East and Africa, Saudi Arabia had the largest market revenue share of 33.0% in 2020.

Saudi Arabia's 2030 vision to expand the economy and reduce the country's dependence on oil is creating opportunities for digital signage media player solutions in the country. Furthermore, the initiatives are taken by the government toward the adoption of such solutions also propel the market's growth. Also, there has been a demand for digitalization in the country's shopping malls, and various vendors are focusing on upgrading existing infrastructure for meeting such needs. In March 2020, one of the largest in-mail media suppliers in the country, Wave Media, announced that it had upgraded its network.

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Key Market Players

The digital signage media player market is mildly concentrated in nature with few numbers global players operating in the market such as 3M Company, Advantech Co. Ltd, AOPEN Inc., Barco, BrightSign LLC, Broadsign, Cisco Systems Inc., ClearOne Communications Inc., Dell Inc., Gefen, HaiVision Inc., Hewlett Packard Enterprise Co., and ONELAN (Tripleplay). Every company follows its business strategy to attain the maximum market share.

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