Digital Signage Media Player Market - Growth, Trends, Covid-19 Impact, And Forecasts (2021 - 2026)

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The digital signage media player is expected to register a CAGR of over 7.3% during the forecast period 2021-2026. Increasing installations of signage solutions in restaurants, bars, and similar establishments to enrich the customer experience will propel the digital signage media player market demand over the foreseen period. To replace the conventional way of informing customers through menu cards, these devices are utilized to power screens to display attention-grabbing advertisements and providing significant market opportunities to the sector. Furthermore, the penetration of such devices in retail is ascending following the increasing need for brand visibility, fueling the digital signage media player market demand.

- Factors like the introduction of displays with built-in media players by manufacturers such as Samsung, LG, and NEC Display Solutions coupled with compatibility issues in old digital signage installations are impeding the digital signage media players' demand. The embedded displays have the potential to streamline the installation method as well as to enhance the performance and safety of digital ...
... signage.

- The utilization of media players in retail chains is rapidly increasing, owing to the demand for enhancing customer interaction and streamlining business operations. In retail, digital signage has evolved as a significant marketing and advertising tool for reinforcing customer experience and branding. The screens displaying digital content in integration with the media players contribute to the brand equity and customer vibe while promoting products and values smartly. The increasing popularity of these devices can be attributed to the small, compact, 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.

- The hardware segment in the digital signage media player market is set to witness significant growth. It can be attributed to the rising usage of these devices for advertising, promoting, and displaying various types of content planned for a particular set of the consumer audience. The devices allow the users to customize every aspect of the consumer's digital experience, offering an efficient way of communicating with the potential viewers and buyers. In addition, the products or goods connected to an internet network enables the users to remotely manage a wide network of digital signs and deliver compelling visual content.

Key Market Trends

Advanced Level Products are Expected to Register Significant Growth

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- In the digital signage media player market, advanced-level products are anticipated to witness an exponential growth rate over the forecast period. The growth can be attributed to the increasing market demand for such devices for enriching the visitor or consumer experience, keep them informed, and entertained by displaying the live digital content.

- The deployment of these devices is on the rise across banks, shopping malls, retail chains, airports, hospitals, and many more applications for displaying content related to promotions, advertisements, infotainment as well as queuing the system information. The information displayed on the digital screens can be updated, automatically eliminating the necessity of manually updating the content each time.

- With the need for digital advertising growing across countries, the demand for signage media players has also increased. Recently, Verizon's cost-effective 4G LTE router and media player hardware solution was launched that connects to any high-definition HDMI-compatible display or sign over Verizon's fast and reliable 4G network. Customers can manage and deliver campaigns via a campaign management portal, which simplifies implementation and the user experience.

North America to Account for Significant Share

- The North America digital signage media player market is projected to grow owing to the increasing utilization of media players in the U.S for signage applications in retail, entertainment, BFSI, and the transportation sector. The high market demand and increasing investments for digital signage systems, followed by the presence of improved infrastructure, further contribute to the digital signage media player demand.

- According to InfoComm International, the United States remains at the forefront of demand and supply of digital signage solutions. Several companies in 2019, planned to exhibit their digital signage solutions at InfoComm International 2019. For instance, BrightSign LLC, one of the global market leaders in digital signage media players, showcased its new BSN.cloud network and player management platform, while demonstrating its award-winning digital signage hardware via partner solutions showcased in its booth (343) and at other locations throughout the convention center.

Competitive Landscape

The digital signage media player market, globally, is characterized by intense competition among key market players and an increase in the number of new entrants. Market players are further focusing more and more on research and development to integrate advanced functions and capabilities into media players. Also, the digital signage media player market is highly fragmented in nature. A huge number of global and regional players are operating in the industry, holding a minimal share in the overall marketplace. Various sectors are heavily investing in these solutions, considering the benefits offered, such as enhanced customer engagement, increased footprint, and improved overall experience.

- March 2020 - Cayin Technology Co. Ltd launched its SMP-2300 fanless embedded digital signage player and Cayin Signage Assistant, an Android app for large scale display networks. The player supports 4K content, dual LAN ports and comes with a built-in firewall.

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