New York, United States , July 31, 2024 (GLOBE NEWSWIRE) -- The Global Digital Signage Media Player Market Size is to Grow from USD 1.78 Billion in 2023 to USD 4.22 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 9.02% during the projected period.
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A digital signage player device is a standalone piece of hardware that displays digital content such as advertisements and menu boards. Digital signage media players allow multimedia content to be shown on digital screens. To complete their jobs, they use remote content management digital signage software or a local storage device including a USB disk. The digital signage market is fragmented, with the majority of global competitors, such as Sony Corporation and Samsung Electronics Co. Ltd, NEC Display Solutions Ltd, and Panasonic Corporation, focusing on the hardware side of the industry. At the same time, several midsize and specialist enterprises offer software for digital signs. Furthermore, the vast majority of companies are entering the market as small domestic businesses, offering unique product applications. The digital signage media player market is quickly growing because of increased adoption in retail, hospitality, healthcare, and transportation. Key concepts include interactive displays, AI-powered content customization, and cloud-based scalability. The adaptation of this service to varied clients who demand information based on their location is hastening its worldwide spread. Furthermore, the expensive cost of deploying new signage systems often prevents wider adoption. The cost of implementing a simple digital signage system is frequently very high.
Browse key industry insights spread across 220 pages with 100 Market data tables and figures & charts from the report on the "Global Digital Signage Media Player Market Size, Share, and COVID-19 Impact Analysis, By Component (Hardware and Software), By Product (Entry Level, Advanced Level, and Enterprise Level), By Application (Retail, Hospitality, Corporate, and Transportation), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The hardware segment is dominating the market with the largest revenue share of the digital signage media player market during the projected timeframe.
Based on the component, the digital signage media player market is divided into hardware and software. Among these, the hardware segment is dominating the market with the largest revenue share of the digital signage media player market during the projected timeframe. The hardware component consists of LCD/LED displays, video players, projector/projection screens, and other equipment. Furthermore, the increase of government offices and a continually expanding educational sector contribute to market growth.
The advanced level segment is expected to hold a significant market share of the digital signage media player market during the projected timeframe.
Based on the product, the digital signage media player market is divided into entry level, advanced level, and enterprise level. Among these, the advanced level segment is expected to hold a significant market share of the digital signage media player market during the projected timeframe. The segment's growth can be attributed to its more features compared to entry-level players, which can handle high-resolution content, support multi-screen configurations, and integrate with content management systems for easier content creation and distribution. Advanced scheduling, remote diagnostics, and security features are frequently included.
The retail segment is projected to grow at the highest CAGR of the digital signage media player market during the projected timeframe.
Based on the application, the digital signage media player market is divided into retail, hospitality, corporate, and transportation. Among these, the retail segment is projected to grow at the highest CAGR of the digital signage media player market during the projected timeframe. The retail industry is rapidly using digital signage media players to promote consumer interaction and attract new customers. Retailers are turning to cutting-edge technology to enhance in-store experiences and grow their consumer base.
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North America is expected to hold the largest share of the digital signage media player market over the forecast period.
North America is expected to hold the largest share of the digital signage media player market over the forecast period. Digital signage is gaining popularity in the United States as a result of recent technological advances in display, connectivity, and monitoring spaces in a variety of applications such as retail stores, transportation networks, outdoor advertising, restaurants, museums, office buildings, and public areas. Furthermore, due to their widespread use, the cost of display panels has greatly decreased. The regional market is primarily driven by an increasing demand for digital signage over printed signs due to its security and cost-effectiveness. It permits the visualization of safety measures, which is an important component in the development of smart hotels and other industries. This, in turn, serves as a significant growth inducer.
Asia Pacific is predicted to grow at the fastest pace in the digital signage media player market during the projected timeframe. The increase could be attributed to a greater understanding of the benefits of digital signage. India and China are expected to see significant growth due to rising use in retail establishments, corporate offices, hospitals, and hotels. Mall and multiplex store traffic has surged in Asia Pacific's growing countries as disposable income has risen. As a result, businesses are taking advantage of this chance to market their products using massive billboards, allowing them to better reach their target demographic.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the digital signage media player market are DynaScan, Samsung Electronics Co., Ltd., Barco, Advantech Co. Ltd., LG Electronics, Panasonic, Shanghai Goodview Electronics Co., Ltd., Delta Electronics, Inc., Leyard Optoelectronic (Planar), AOPEN Inc. (Acer Group), BrightSign LLC, Cisco Systems, Inc., Hitachi, Ltd., Omnivex Corporation., and others.
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Recent Developments
- In January 2024, BrightSign, the leading provider of innovative, competent, and reliable digital media players and operating systems, established Bright Alliance, a global program demonstrating the company's commitment to growing its partner ecosystem. Bright Alliance is a complete support system that enables CMS partners to strengthen their technical, sales, and marketing efforts while promoting mutual growth and providing new business opportunities.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the digital signage media player market based on the below-mentioned segments:
Global Digital Signage Media Player Market, By Component
- Hardware
- Software
Global Digital Signage Media Player Market, By Product
- Entry Level
- Advanced Level
- Enterprise Level
Global Digital Signage Media Player Market, By Application
- Retail
- Hospitality
- Corporate
- Transportation
Global Digital Signage Media Player Market, By Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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