Press release
Digital Signage Media Player Market Size Worth USD 1.4 Billion by 2024
Increasing installation of signage solutions in bars, restaurants, and similar establishments to enrich the customer experience will fuel the digital signage media player market demand over the future. To replace the traditional way of informing customers through menu cards, these devices are utilized to power screens to display attention-grabbing advertisements and providing significant opportunities to the industry. Furthermore, the penetration of such devices in the retail sector is on the rise following the increasing need for brand visibility, fueling the Digital Signage Media Player Market demand.
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Digital Signage Media Player Market is set to exceed USD 1.4 billion by 2024; according to a new research report. The shipments in 2016 surpassed 2.5 million units.
The utilization of media players in the retail sector is increasing owing to the demand for enhancing customer interaction and streamlining business operations. In retail, the digital signage has evolved as a significant marketing & advertising tool for reinforcing the branding and customer experience. The screens displaying content in integration with the media players contribute to the brand equity and customer vibe while promoting products & values in a smart way. The rising popularity of these devices can be attributed to the compact, small, and easy-to-install features suitable for the outdoor environment, video wall applications, and professional installations contributing towards the growth of the digital signage media player market.
Factors such as the introduction of displays with built-in media players by manufacturers including Samsung, LG, and NEC Display Solutions coupled with compatibility issues in old digital signage installations are hindering the digital signage media player market demand. The embedded displays have the potential to simplify the installation process as well as to enhance the safety and performance of digital signage.
The hardware segment in digital signage media player market is set to witness a considerable growth. It can be credited to the rising usage of these devices for promoting & displaying different types of content planned for a particular set of audience. The devices allow the users to seamlessly customize every aspect of digital experience offering an effective way of communicating with the potential viewers. In addition, the products connected to an internet network enable the users to remotely manage a wide network of digital signs and deliver a compelling visual content.
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Advanced level products in the digital signage media player market are expected to witness a high growth over the forecast timespan. The growth can be accredited to the increasing demand for such devices for enriching the visitor experience, keep them informed, and entertained by displaying the live content. The deployment of such devices is on the rise across retail chains, banks, shopping malls, airports, hospitals, and many more applications for displaying content related to advertisements, promotions, infotainment as well as queuing the system information. The information displayed on the screens can be updated automatically eliminating the possibility of manually updating the content each time.
The U.S. digital signage media player market is projected to grow owing to the rise in the utilization of media players for signage applications in entertainment, retail, BFSI, and transportation sector. The high demand and increasing investments for digital signage systems followed by the presence of improved infrastructure further contribute to the digital signage media player market demand. Moreover, the increasing deployment of such devices across airports, shopping malls, retail stores, and restaurants will propel the China digital signage media player market growth.
Vendors operating in digital signage media player market comprise Advantech Co., Ltd., IBase Technology, AOpen, Inc., Brightsign LLC, IAdea, Broadsign, NEXCOM International, Inc., Onelan, Scala, HP, Visix, Inc., Broadsign, Clearone, and Barco. The industry is characterized by the intense competition among the established players followed by the increasing number of new entrants in the market. The players are increasingly focusing on R&D to integrate new & advanced functions in the devices.
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