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A concise overview of digital signage media player market trends with commercialization potential as a frame of reference, global industry to surpass one-billion-dollar mark by 2024

Author : Saipriya Iyer | Published Date : 2019-02-26 

Over the past decade, the global digital signage media player market undercurrents have perceived transformative changes owing to the fact that the demarcation between design and marketing activities has grown increasingly blurred. This alteration is in addition to the marked decline in the prices of digital signages coupled with enormous technological advancements which has led to massive proliferation of digital signages across the globe. Moreover, the dire necessity to communicate unambiguously with consumers has compelled numerous business verticals to adopt digital displays at an exponential pace.  The rapid penetration of a diverse set of digital signage software across expansive end-use verticals, and the evolving attitude among masses to consume information being displayed through digital signages has favorably impacted the growth potential of digital signage media player market. Consequentially, it is rather evident that the aforementioned aspects portray an optimistic expansion of digital signage media player industry which has evolved in an era of disruptive digitalization.

How decline in price of displays has influenced digital signage media player market

Elaborating further, there seems to exist a misconceived notion among various business circles that digital signage solutions are primarily deployed to serve large corporate enterprises. However, if utilized appropriately while running small-to-midsize businesses, these innovative solutions indeed leave a lasting impression on the target audience. Apparently, it is being observed that the leading digital signage media player industry participants have gradually deciphered the significance of launching cost-effective digital displays to fortify their presence among the marketing activities of small and medium enterprises. Citing an instance that validates the aforementioned statements, one of the leading digital signage media player market participant Dai Nippon Printing Co., Ltd. (DNP) had released a cost-effective digital signage in 2014 that can be deployed in outdoor settings. The new digital display ensures significant reductions in maintenance and replacement costs as it comes with an air conditioner equipped with an air-cooling system that utilizes numerous tiny fans. Given that the small fans could be swapped more easily compared to air conditioning systems, this lowers the inconvenience of maintenance operations, and secures higher visibility even in outdoor setups subject to direct sunlight by using an anti-reflective glass and high luminance display. Needless to mention, the launch of such advanced and low cost digital displays has undeniably impelled the growth prospects of digital signage media player industry in the recent times.

The proliferation of unconventional displays - a prominent factor to spur the digital signage media player market

Numerous firms are increasingly replacing the traditional signage systems with digital signage solutions in order to reach a wider consumer base. The escalating growth of HD-capable systems has had a far-reaching impact on almost every commercial setting. The latest business strategies aim to inform and engage the target audience while they spend time in walkways, cafeterias, lobbies, or other public spaces. A testament to the aforementioned statements is the recent declaration made by one of the foremost digital signage media player industry giant BrightSign, LLC. The US-based company announced in the second half of 2017 that it exceeded one million shipments of its media players, in terms of sales volume. All in all, owing to the growing affinity toward replacing the static signages with digital ones and rapid technological progressions, the digital signage media player market has secured a predominant space in increasing the employee communication, brand visibility of foremost companies, and customer engagement across the world. As per a research report published by Global Market Insights, Inc, the global digital signage media player industry is projected to surpass a remuneration portfolio of USD 1.4 billion by 2024.

The various incentives to adopt digital signage software across numerous business verticals: an emerging trend across digital signage media player market

Manufacturers, systems integrators, and installers in the digital signage media player industry have set their sights on emerging business segments that would drive the next wave of progression within this market. The rising preference for IT-based solutions has fascinated an expansive range of business verticals along the likes of healthcare, hospitality, corporate, entertainment, transportation, BFSI, retail, and education among others. For instance, the burgeoning global BFSI sector finds it rather difficult to interact with consumers in an effective manner owing to time and distance barriers. These shortcomings are being increasingly addressed by digital signages as they eliminate these communication hurdles by exhibiting crucial messages and information in an organized format. On the other hand, the rising inclination toward digital media has encouraged the educational sector to embrace digital signages. Therefore, it goes without saying that the deployment of these modern displays enables educational institutes to reduce their overall expenditure by lowering the dependency on paper and printer toners.

Apparently, the digital signage media player industry has assisted several businesses to provide valuable information to employees, clients, and guests and further fuel organic growth.

Information consumption on digital signages: The gradual yet inevitable attitudinal change

Owing to the massive upsurge in investments to develop mobile integrated digital signage systems coupled with the growing acceptance of smartphone devices, the digital signage media player market size has witnessed a radical shift over the years. The software solutions have enabled the users of this technology to customize the information to create a difference in which visitors, customers, and students consume the content. Apparently, the growing utilization of such groundbreaking solutions for streaming several types of content, advertising & promotional activities, and customer engagement is slated to expand the growth contours of digital signage media player market share over the ensuing years.

The impact of cloud-based digital signage software solutions on the overall digital signage media player market

The advent of cloud-based digital signage solutions has transformed the communication network across diverse commercial settings into a more personalized and interactive form. Covering almost all systems from content management, industrial applications, content security software, and device monitoring which translates into a flexible range of communication alternatives, cloud offers critical benefits when it comes to content creation. Moreover, the recent uptick in the requirement for unified corporate communications to heighten the return on investments has created enormous opportunities for cloud-based digital signage software manufacturers which would further add significant value toward the rapid progression of digital signage media player industry in the immediate future.

The immense stretch of application matrix supplemented with the speedy pace of urbanization across the globe has led to a marked accentuation in the advertisement and marketing expenditure by private and public sectors. In consequence, this has vigorously driven the digital signage media player market share augmentation over the past few years and the commercialization potential of this business space is likely to stay intact in the forthcoming timespan.

About Author

Saipriya Iyer

Saipriya Iyer

Saipriya Iyer presently works as a content developer for fractovia.org. Having dabbled with the domain of content creation for nearly half a decade, she now boasts of an enviable portfolio, holding substantial experience in penning down pieces related to technology, finance, and a wide spectrum of other industry verticals. A qualified computer engineering graduate from the University of Pune, Saipriya can often be found leveraging her knowledge of software technology and electronics in her write-ups. She can be contacted at- [email protected] | https://twitter.com/saipriya_i

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