The ‘Global Smart Display Market Size, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global smart display market, assessing the market on the basis of its segments like type, display size, resolution, end use, and major regions.
Smart Display Market Size, Trends, Industry Report, Key Player, Major Segments, and Forecast
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The key highlights of the report include:
Market Overview (2018-2028)
• Historical Market Size (2021): USD 4.59 billion
• Forecast CAGR (2023-2028): 21.50%
• Forecast Market Size (2027): USD 14.77 billion
An increase in demand for smart applications utilising Internet of Things (IoT) and artificial intelligence (AI) across the residential sector is expected to drive the smart display market growth globally during the forecast period owing to a surge in disposable income in emerging economies. Moreover, the rise in requirement for smart mirror systems across the automotive industry is anticipated to aid the market growth of smart displays.Going further, the demand for smart displays is likely to boost over the coming years due to the surge in demand for digital advertisements all over the retail, commercial, and healthcare sectors.
By utilising technologies for smart display applications like LCD, and LED, among others, the preselected matter is projected onto the display. There is an increase in popularity of smart displays for sport and entertainment, healthcare, and retail because of the increase in demand for next generation monitoring and advertising technology. This is further expected to propel the global market growth of smart displays in the future.
Also, smart display applications like mirrors and signages are created to boost the shopping experience of consumers. Coupled with display advertisements in retail stores, which is likely to attract more customers, and these aspects are expected to fuel smart display usage in the retail sector.
Smart Display Industry Definition and Major Segments
Smart displays are referred to as an intelligent digital solution that is utilised through voice remote devices or through devices that are compatible and equipped with Internet of Things technology. Its application in the retail sector significantly enhance the shopping experience for customers, and in the automotive sector smart mirrors offers multiple benefits by tracking the movements of a vehicle for greater safety.
By type, the market is divided into:
• Home display
• Smart Mirror
Based on display size, the market is segmented into:
• Below 32 inches
• Between 32 and 52 inches
• Above 52 inches
On the basis of resolution, the market is segregated into:
Based on end use, the market is categorised into:
• Sport and Entertainment
By region, the market is segmented into:
• North America
• Latin America
• Asia Pacific
• Middle East and Africa
Smart Display Market Trends
The global smart display market is anticipated to gain momentum over the upcoming years on account of the surging purchasing power. Additionally, consumers are increasing their purchasing volume, supporting retail industry growth including the growing space of retail stores and shopping malls at a substantial rate all over the globe. Consequently, the growing demand for smart signage solutions is likely to hold the interest of spectators as well as influence consumers to enter the store, further boosting the market demand for smart displays.
Surging brand awareness among such smart stores and programmatic advertising and smart signage becoming part of the payment process are expected to propel the smart display market trend.
Geographically, the Asia Pacific region is expected to register significant growth in the smart display market share over the forecast period on account of the growing retail industry in the region coupled with the high existence of medium and small retailers. Japan is further expected to hold the market growth of the smart display market as the country is investing significant resources into the technology like multifunction technology usage for cost-efficient smart displays.
Key Market Players
The major players in the global smart display market report are:
- Alpine Electronics, Inc
- Alphabet Inc
- Japan Display Inc
- Leyard Optoelectronic Co., Ltd
- LG Electronics Inc
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
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