Software segment in the digital signage media player market is expected to witness significant growth over the years. This is attributed to the increasing demand for such solutions providing improvised interaction while enhancing the customer engagement and brand visibility. Rising utilization of these solutions for streaming different type of content meant for certain set of customers as well as for promotional and marketing activities will drive the industry demand.
Rising deployment of signage systems such as interactive video walls and displays across retail industry is anticipated to drive the digital signage media player market growth. In order to provide interactive experience to the customers, retailers are increasingly making use of the signage players to power the screens for marketing & advertising activities. Increasing popularity of online shopping followed by the growing trend of digitization, retailers across various regions are deploying media players for enhancing the customer interaction.
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Increasing installation of media players across various sectors such as retail, corporate and entertainment sector will drive the industry demand. In addition, easy-to-use characteristics followed by the low price of the devices can be considered as major reasons for the rising deployment. Business entities across the globe are creating appealing visual content for employee communication as well as for advertising activities. Deployment of media players is on the rise across restaurants and bars, to improvise the consumer experience by replacing the practice of notifying customers through menu cards, further contributing to the growth of digital signage media player market.
Launch of media players embedded in displays providing benefits such as low power consumption will hinder the digital signage media player market growth over the forecast timespan. In addition, increasing utilization of media streaming devices such as Apple TV, Chromebox could act as substitute product having negatively impacting the industry demand.
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Demand for advanced level products is anticipated to surge pertaining to the increasing deployments across healthcare, BFSI, retail, entertainment and education sectors to enhance the overall consumer experience. Utilization of media players is on the rise for displaying fascinating visual content in order to enrich the viewer experience and keep them entertained and well-informed. Furthermore, these devices are gaining popularity across banks, airports, malls, hospitals and various other sectors for showcasing content associated with infotainment, queuing information, promotions and advertisements.
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.
Companies operating in the industry include IAdea, Brightsign LLC, Clearone, AOpen Inc., Barco, Stratacache, Onelan, Scala, Hewlett Packard Company, Advantech Co. Ltd, Visix Inc., Broadsign and NEC Display Solutions Ltd.
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All in all, owing to rapid technological progressions and the growing affinity toward replacing the static signages with digital ones, the overall digital signage media player industry has acquired a preeminent position in increasing the customer engagement, employee communication, and brand visibility of foremost companies worldwide. According to reliable estimates, the global digital signage media player market is slated to exceed a total valuation of USD 1.4 billion by 2024.