Digital Signage Media Player Market Size
| Study Period | 2021 - 2029 |
| Market Size (2024) | USD 1.95 Billion |
| Market Size (2029) | USD 3.02 Billion |
| CAGR (2024 - 2029) | 9.09 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Digital Signage Media Player Market Analysis
The Digital Signage Media Player Market size is estimated at USD 1.95 billion in 2024, and is expected to reach USD 3.02 billion by 2029, growing at a CAGR of 9.09% during the forecast period (2024-2029).
- Digital signage displays effectively showcase promotions for products, services, events, or sales. Beyond just rotating graphics, these multimedia screens incorporate video and animation, allowing advertisers to present static ads, product demos, and video testimonials.
- With digital signage, content, and messages can be swiftly updated on electronic screens without altering physical signs. This trend is in sync with the robust growth anticipated in several emerging economies in the coming years. As technology advances and costs decrease, the adoption of digital signage is on the rise.
- Many industry players are teaming up to offer cutting-edge solutions. For example, ClickShare and Signagelive have partnered to transform workplace collaboration and communication. Businesses can seamlessly integrate Signagelive with ClickShare Conference through this collaboration, instantly enhancing their investments. By deploying ClickShare's wireless room systems, companies can create informative, engaging, and collaborative spaces, ensuring their screens remain dynamic and productive throughout their facilities.
- The increasing deployment of signage solutions in bars, restaurants, and similar establishments aimed at elevating the customer experience is set to drive demand for digital signage media players in the coming years. These devices, replacing traditional menu cards, are being used on powered screens to showcase eye-catching advertisements, presenting significant market opportunities. The retail sector also increasingly adopts these devices to boost brand visibility, further fueling the digital signage media player market.
- However, navigating the digital signage landscape can be daunting for end-users venturing into independent infrastructure development and deployment. Given its complexity, this endeavor demands expertise across various domains, including IT, audiovisuals, software, mechanics, and display technologies. Opting for comprehensive solutions from value-added retailers and integrating products from partner vendors necessitates technical ease and standardized protocols. This not only streamlines installations but also simplifies upgrades and reduces maintenance.
- While challenges like content security, platform compatibility, and the call for standardization pose hurdles, leading players in the digital signage realm are increasingly focusing on interactive and personalized solutions, paving the way for substantial global market growth.
- Post-pandemic, businesses are exploring novel ways to engage customers, leveraging advanced technologies and the rising popularity of digital content. Also, in the wake of the pandemic, businesses have shifted toward digital communications, moving away from printed signage and in-person interactions. This shift is expected to persist, with digital signage taking on added significance as companies reduce their reliance on physical materials and adapt to lower capacity limits.
Digital Signage Media Player Market Trends
The Retail Segment is Expected to Hold a Significant Share
- Retail sales require personalization, which has been the cornerstone of the success of behavior-based ads. While contextual ads have traditionally focused on content relevance, they need more direct customer communication. However, the landscape is poised for a significant shift with the integration of artificial intelligence (AI), promising to infuse personalization into contextual advertising, which propels the market toward growth.
- The retail sector's adoption of digital signage media players is on the rise, aimed at bolstering consumer engagement and drawing in fresh clientele. Retailers are pivoting towards advanced tech solutions to elevate their in-store experiences and widen their customer base. Moreover, the surge in these devices, boasting enhanced interactive features like touch screens, is fueling a heightened demand within the industry.
- The majority of traditional advertising is printed signage, which has been replaced with digital signage, aiming at customer attraction and satisfaction through cost-effectiveness in the long run. Printed signages were single-use messages such as billboards and posters, frequently discarded due to the dynamic nature of content marketing today.
- The retail sector is a widely adopted segment with the highest investment in digital signage for advertising. One major challenge is coordinating marketing campaigns while accommodating the individual needs of various locations. Adopting a robust digital signage system is making engaging retail stakeholders much easier.
- Among the different advertising channels, such as radio, television, and print, digital remains a key driver of global advertising market growth and is on an upward trajectory. Such increased digital advertising spending, along with allocated budgets by the companies toward digitization, is the major reason for the high adoption rate of these devices in the commercial segment. In particular, digital signage, coupled with Bluetooth or BLE, offers an effective combination for contextual marketing. Beacon-enabled mobile apps collect customer data and use it to send personalized messages. For the same reason, media player providers must embed the required connectivity.
- According to the latest Dentsu Global Ad Spend Forecasts report, global advertising investment was expected to increase by 3.3% in 2023. The report predicted that by the year's end, approximately USD 727.9 billion will have been spent worldwide, marking a significant growth in the industry's expenditure. Digital ad spending for digital signage is expected to increase along with global brands' affinity toward digital ad spending (internet), opening paths to incorporate digital spending along with OOH (out-of-home) ads. As per forecasts, the incremental increase in the Y-o-Y advertisement spending was recorded for out-of-home (+3.8%), cinema (+2.1%), and audio (+0.8%). The current trends are contributing to a optimistic market outlook.
North America Holds Major Market Share
- The United States is one of the largest digital signage marketplaces. Due to recent technological advancements in display, connectivity, and monitoring spaces in numerous applications, including retail stores, transportation systems, outdoor advertising, restaurants, museums, corporate buildings, and public spaces, digital signage is becoming increasingly popular in the United States. In addition, the widespread usage has led to a sharp decline in the cost of display panels.
- The retail sector in the United States is predicted to gain a considerable market share to provide a distinct in-store user experience. The OBERLO estimates that US retail sales were planned to expand by 0.6% in 2023 and 1.3% in 2024, accounting for USD 1.9 trillion in the third quarter of 2022. Businesses combine online and offline shopping to make a seamless multi-channel experience. This has changed a lot of things, like prices, features, and ways to promote.
- According to Scala Digital Signage, 42% of purchases are anticipated to come from online, mobile, and social commerce websites. In comparison, 74% of US retailers believe creating an engaging in-store consumer experience is crucial. As a result, new and established firms heavily invest in their R&D capabilities, release new products or develop old ones, and form partnerships to gain the largest possible market share.
- Canada is renowned for punching above its weight in the economic and industrial realms despite having a population of only 39 million and one of the largest economies in the world. This is also true for digital signage, where a mature infrastructure and a populace that prefers in-person to online shopping present network operators with enormous opportunities.
- The pandemic permanently altered Canadian retail, yet the growth of e-commerce has been robust and long-lasting. Unsurprisingly, online information, inspiration, and purchasing are all facilitated by digital, which is now the doorway to all commerce and is driving the Canadian shopping experience online and offline. Because of this, the Canadian retail market for digital signage is likely to grow since businesses need a solid digital presence to meet customer needs.
Digital Signage Media Player Industry Overview
The digital signage media player market comprises diverse areas in which to excel, such as hardware and software. There has been intense competition in both sectors of the market. Competitive rivalry in this industry is governed by significant players, such as 3M, Cisco, Dell, and Advantech. Profitability in the industry is significantly increasing player activity. Thus, the new players and the existing giants are adopting powerful strategies to maintain a competitive edge in the market. Therefore, the competitive rivalry in the market is high.
In April 2024, Advantech, a service automation solutions provider, introduced the UBX-110K, its latest innovation. This UHD fanless mini box computer platform is tailored specifically for the retail and hospitality signage player markets. Equipped with either the 12th-generation Intel Embedded N97 or Intel Embedded Core i3-N305 processors, the UBX-110K stands out with its three video outputs. Its software is crafted for effortless remote management, granting users seamless real-time control. These attributes collectively position the UBX-110K as the top choice for various digital signage applications, showcasing its versatility.
In June 2023, BrightSign, a digital signage firm, and MOKA Technology, a subsidiary of TCL, teamed up to develop displays with integrated content players. The collaboration focuses on a series of displays led by the MOKA BS60, which prominently features the BrightSign Built-In Platform. Notable features of the device include 4K support, both landscape and portrait orientations, an ultra-narrow bezel, 25% haze, 3H surface hardening, a slim profile under two inches, 500 nits brightness, a wide 90% color gamut, and exceptional contrast levels.
Digital Signage Media Player Market Leaders
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3M Company
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Advantech Co. Ltd
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AOPEN Inc. (Acer Group)
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Barco
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BrightSign LLC
*Disclaimer: Major Players sorted in no particular order
Digital Signage Media Player Market News
- May 2024: StreamVue, one of the players in IPTV and digital signage solutions, announced an exclusive distribution partnership with DigiBox, one of the premier UK distributors of market-leading technologies for the broadcast, video, and ProAV industries. This alliance focussed on the UK for StreamVue and planned an expansion into digital signage and IPTV for Digibox. It offers easy-to-use and cost-effective IPTV and digital signage systems suitable for various uses, such as single-site offices, pubs, clubs, and hotels with large-scale venues, stadiums, and multi-site live broadcast and control.
- January 2024: Signagelab, a digital signage solutions provider and professional services company, acquired the Czech software firm signageOS, significantly enhancing its capacity for tailored implementations and integrations of its core products. This move bolsters signageOS's Expert Services division, enabling it to undertake specialized projects on its hardware-agnostic device management platform, CloudControl, its developer platform, DevSpace, and its pre-configured HTML5 playback engine, ProPlayer.
Digital Signage Media Player Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS
4.1 Market Overview
4.2 Industry Attractiveness - Porter's Five Forces Analysis
4.2.1 Threat of New Entrants
4.2.2 Bargaining Power of Buyers
4.2.3 Bargaining Power of Suppliers
4.2.4 Threat of Substitute Products
4.2.5 Intensity of Competitive Rivalry
4.3 Industry Value Chain Analysis
4.4 An Assessment of the Impact of Key Macroeconomic Trends
5. MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Trends Favoring the Growth of Context-aware Advertising and Enrich Customer Experience
5.1.2 Steady Increase in DOOH Spending
5.2 Market Challenges
5.2.1 Technical and Standardization Complexity
6. MARKET SEGMENTATION
6.1 By Component
6.1.1 Hardware
6.1.2 Software
6.2 By Product
6.2.1 Entry Level
6.2.2 Advanced Level
6.2.3 Enterprise Level
6.3 By Application
6.3.1 Retail
6.3.2 Hospitality
6.3.3 Corporate
6.3.4 Transportation
6.3.5 Other Applications (Education, Government, etc.)
6.4 By Geography***
6.4.1 North America
6.4.1.1 United States
6.4.1.2 Canada
6.4.2 Europe
6.4.2.1 Germany
6.4.2.2 United Kingdom
6.4.2.3 France
6.4.3 Asia
6.4.3.1 India
6.4.3.2 China
6.4.3.3 Japan
6.4.4 Australia and New Zealand
6.4.5 Latin America
6.4.5.1 Brazil
6.4.5.2 Argentina
6.4.6 Middle East and Africa
6.4.6.1 United Arab Emirates
6.4.6.2 Saudi Arabia
7. COMPETITIVE LANDSCAPE
7.1 Company Profiles*
7.1.1 3M Company
7.1.2 Advantech Co. Ltd
7.1.3 AOPEN Inc. (Acer Group)
7.1.4 Barco
7.1.5 BrightSign LLC
7.1.6 Broadsign
7.1.7 Cisco Systems Inc.
7.1.8 ClearOne Communications Inc.
7.1.9 Dell Technologies Inc.
7.1.10 Gefen
7.1.11 HaiVision Inc.
7.1.12 Hewlett Packard Enterprise
7.1.13 ONELAN (Uniguest)
7.1.14 Disguise Technologies Limited
7.1.15 Dataton AB
7.1.16 AV Stumpfl GmbH
7.1.17 Green-Hippo (tvOne NCSA)
7.1.18 Modulo Pi
7.1.19 Christie Digital Systems USA Inc.
7.1.20 7thSense
8. VENDOR RANKING
9. INVESTMENT ANALYSIS
10. FUTURE OF THE MARKET
Digital Signage Media Player Industry Segmentation
A digital signage media player is a compact computer designed to display digital signage. The hardware used in digital signage media players is used for broadcasting videos, high-definition images, and animation.
The digital signage media player market is segmented by component (hardware, software), product (entry-level, advanced level, and enterprise level), application (retail, hospitality, corporate, transportation, and other applications (education, government, etc.)), and geography (North America (United States and Canada), Europe (Germany, United Kingdom, France, and Rest of Europe), Asia-Pacific (India, China, Japan, and Rest of Asia-Pacific), Latin America (Brazil, Argentina, and Rest of Latin America), and Middle East and Africa (United Arab Emirates, Saudi Arabia, and Rest of the Middle East and Africa)). The market sizes and forecasts are provided in terms of value (USD) for all the above segments.
| By Component | |
| Hardware | |
| Software |
| By Product | |
| Entry Level | |
| Advanced Level | |
| Enterprise Level |
| By Application | |
| Retail | |
| Hospitality | |
| Corporate | |
| Transportation | |
| Other Applications (Education, Government, etc.) |
| By Geography*** | |||||
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| Australia and New Zealand | |||||
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Digital Signage Media Player Market Research Faqs
How big is the Digital Signage Media Player Market?
The Digital Signage Media Player Market size is expected to reach USD 1.95 billion in 2024 and grow at a CAGR of 9.09% to reach USD 3.02 billion by 2029.
What is the current Digital Signage Media Player Market size?
In 2024, the Digital Signage Media Player Market size is expected to reach USD 1.95 billion.
Who are the key players in Digital Signage Media Player Market?
3M Company, Advantech Co. Ltd, AOPEN Inc. (Acer Group), Barco and BrightSign LLC are the major companies operating in the Digital Signage Media Player Market.
Which is the fastest growing region in Digital Signage Media Player Market?
Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Digital Signage Media Player Market?
In 2024, the North America accounts for the largest market share in Digital Signage Media Player Market.
What years does this Digital Signage Media Player Market cover, and what was the market size in 2023?
In 2023, the Digital Signage Media Player Market size was estimated at USD 1.77 billion. The report covers the Digital Signage Media Player Market historical market size for years: 2021, 2022 and 2023. The report also forecasts the Digital Signage Media Player Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Digital Signage Media Player Industry Report
The Digital Signage Software Market Report provides an in-depth industry analysis segmented by component, product, application, and geography. The market forecast highlights the anticipated growth rate and market value over the forecast period. This industry report details the market size and market trends, offering a comprehensive industry overview.
The report includes a detailed market analysis, emphasizing the market growth and the market leaders driving the industry forward. Market segmentation is thoroughly covered, providing insights into different applications such as retail, hospitality, corporate, and transportation. The report also includes industry statistics, shedding light on the market share and the market outlook.
Industry research and industry reports are essential for understanding the market dynamics. The market review and market predictions offer valuable market data and market insights. The report example and report PDF provide a clear and concise summary of the findings, making it a valuable resource for research companies.
The industry information includes a detailed industry overview, highlighting the industry size and industry trends. The market segmentation by geography covers North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa, providing a comprehensive market outlook.
Overall, this report serves as a crucial tool for understanding the digital signage software market, offering detailed industry research, market data, and market predictions. The industry sales and industry outlook are thoroughly analyzed, providing a clear picture of the market dynamics and future growth prospects.
Digital Signage Media Player Market Report Snapshots
