Hyderabad, July 24, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled "Digital Signage Media Player Market Report (2023-2028)," the market is estimated at USD 1.79 billion in 2023. It is expected to register a CAGR of 9.09% during the forecast period.
Various institutions and businesses are embracing digital content and technologies, making digital signage more crucial for communication and reducing reliance on printed material. Digital signage displays can feature promotions, product demos, and video testimonials to effectively engage audiences and convey messages. The digital signage media player market is expected to grow, especially in bars, restaurants, and the retail sector.
Report Summary:
| Report Attribute | Details |
| Market Size (2023) | USD 1.79 billion |
| Market Size (2028) | USD 2.77 billion |
| CAGR (2023-2028) | 9.09% |
| Study Period | 2018-2028 |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Forecast Units | Value (USD billion) |
| Report Scope | Market Dynamics, Revenue Forecast and Segmentation, Competitive Landscape and Recent Developments, Market Growth, Future Opportunities, and Trends |
| Key Market Drivers | Technological innovations. |
| Changing advertising landscape. |
Who are the Top Companies in the Global Digital Signage Media Player Market?
The market comprises diverse areas like hardware and software, and the competition is intense in both sectors. New players and existing giants are adopting powerful strategies to maintain a competitive edge.
The significant players in the global digital signage media player market are:
- 3M Company
- Advantech Co. Ltd
- AOPEN Inc. (Acer Group)
- Barco
- BrightSign LLC
- Broadsign
- Cisco Systems Inc.
- ClearOne Communications Inc.
- Dell Technologies Inc.
- Gefen
- HaiVision Inc.
- Hewlett Packard Enterprise
- ONELAN (Uniguest)
- Disguise Technologies Limited
- Dataton AB
- AV Stumpfl GmbH
- Green-Hippo (tvOne NCSA)
- Modulo Pi
- Christie Digital Systems USA Inc.
- 7thSense
Other Reports That Might Be of Your Interest:
- Digital Signage Market Report - The global digital signage market size is expected to grow from USD 23.54 billion in 2023 to USD 35.24 billion by 2028, at a CAGR of 8.40% during the forecast period (2023-2028).
- Europe Digital Signage Market Report - The European digital signage market is projected to register a CAGR of 10.70% over the next five years.
Key Highlights from the Global Digital Signage Media Player Market Report:
Growth of Context-aware Advertising
- Digital signage is cost-effective and offers dynamic content nature. Thus, traditional printed signage is being replaced by digital signage.
- Digital advertising is a key driver in the growth of the global advertising market. Companies are allocating budgets for digitization, contributing to high adoption rates of digital signage in the commercial segment. The retail sector heavily invests in digital signage for advertising.
- Digital signage combined with Bluetooth or BLE enables contextual marketing and personalized messages to customers.
North America - The Largest Market
- The United States is one of the largest digital signage markets, driven by technological advancements and widespread usage in various applications like retail, transportation, advertising, restaurants, etc.
- The US retail sector is predicted to gain significant market share by providing distinct in-store user experiences. Both new and established firms in the US are heavily investing in R&D capabilities.
- Despite its smaller population in Canada, the mature infrastructure and preference for in-person shopping present significant opportunities for digital signage network operators.
What are the Latest Developments in the Global Digital Signage Media Player Market?
- In November 2022, AV Stumpfl presented its new PIXERA four media server and Monolyte unibody screen system. The new PIXERA 4 is an incredibly powerful media server hardware system for demanding real-time graphics applications and broadcast setups.
- In August 2022, BrightSign Media Player remodeled the IKEA store’s home furnishings department in London and unveiled its new XD5 media players.
Mordor Intelligence has Segmented the Global Digital Signage Media Player Market Based on Component, Product, Application, and Geography.
- By Component (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Hardware
- Software
- By Product (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Entry Level
- Advanced Level
- Enterprise Level
- By Application (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Retail
- Hospitality
- Corporate
- Transportation
- Other Applications (Education, Government, etc.)
- By Geography (Market Size and Forecast based on Value (USD billion), 2018-2028)
- North America
- United States
- Canada
- Europe
- Germany
- United Kingdom
- France
- Rest of Europe
- Asia-Pacific
- India
- China
- Japan
- Rest of Asia-Pacific
- Latin America
- Brazil
- Argentina
- Rest of Latin America
- Middle East & Africa
- United Arab Emirates
- Saudi Arabia
- Rest of Middle East & Africa
- North America
In a nutshell, the Mordor Intelligence market research report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the Global Digital Signage Media Player Market Report (2023-2028).
Mordor Intelligence constantly tracks industry trends. Some relevant market reports from the analysts that might be of interest to you:
- Latin America Digital Signage Market Report - The Latin American digital signage market size is estimated at USD 1.02 billion in 2023. It is expected to reach USD 1.51 billion by 2028, at a CAGR of 8.09% during the forecast period (2023-2028).
- Asia-Pacific Programmatic Advertising Market Report - The Asia-Pacific programmatic advertising market is expected to register a CAGR of 9.35% over the next five years.
- Online Advertising Market Report - The global online advertising market was valued at USD 209.9 billion in 2022. It is expected to reach a value of USD 389.5 billion over the next five years, registering a CAGR of 10.85%.
About Mordor Intelligence:
Mordor Intelligence is a market intelligence and advisory firm. At Mordor Intelligence, we believe in predicting butterfly effects that have the potential to change or significantly impact market dynamics.
Our market research reports are comprehensive and provide exclusive data, facts and figures, trends, and the competitive landscape of the industry.
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