Smart Display Market size is projected to reach USD 17.81

New York, United States, Nov. 10, 2022 (GLOBE NEWSWIRE) -- A Smart Display is a sophisticated digital product controlled by the Internet of Things (IoT)-enabled gadgets or voice-activated remote controls. The smart mirror is one cutting-edge tool that might track customer personal information and buying behavior in the retail and automobile industries. Smart devices are also getting interactive and advanced controlling features, expanding as a cutting-edge technical solution. Applications for smart displays project the desired content onto the display using technologies like LED, LCD, and others. A smart display is often used in retail, sport and entertainment, and healthcare due to the rise in demand for cutting-edge advertising and monitoring systems. Additionally, smart display applications like signage and mirrors designed to enhance consumer shopping experiences, welcome customers, and display advertisements in retail establishments drive the use of machine vision technology in the medical and healthcare sector.

Over the forecast year, it is predicted that the smart display market will grow due to the demand for the Internet of Things and artificial intelligence-based smart applications in the residential sector brought on by rising purchasing power in developing countries. The market for smart displays is also expected to benefit from the rising demand for smart mirror systems in the automotive sector. The demand for smart displays is also expected to increase as digital advertising becomes more and more popular in the corporate, retail, and healthcare sectors. Due to these factors, the market will likely grow in the following years.

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The Growing Demand for AI and IoT Enabled Smart Devices and Demand for Smart Mirrors in Automotive Sector to Drive the Global Smart Display Market

There has been a rise in the use of smart home apps due to advances in basic technology and fast internet globally. The rise in smartphone usage has facilitated the emergence of smart home apps. Another outcome of global home automation improvement is using smart home application technologies, such as smart displays in the residential sector, to control digital applications like smart lights, thermostats, and more. The development of AI-powered smart display technology in the home market, which will further fuel demand for smart display technology internationally, is also expected to increase demand for smart automation technology for controlling lights, fans, security cameras, and other devices.

The need for increased safety, comfort, and convenience has led to the global expansion of smart mirror applications, which are now a crucial part of the automotive industry. The smart displays used in the automotive sector are designed for various purposes, including Bluetooth and wi-fi, temperature, navigation, turn signals, back cameras, and more. Owing to the rising demand for smart display mirrors in the automotive industry, it is projected that the market for smart displays will grow. Additionally, because the required hardware is easily accessible, the growth of electronically connected cars is swiftly adopting smart display technology. Consequently, expected to fuel the development of the smart display market in the upcoming years.

The Advent of Smart Technologies in Developing Nations to Create Global Smart Display Market Opportunities

The E-commerce platform has wholly destroyed the retail industry because of accessibility and the internet. Customers' increasing purchasing power and disposable income on a global scale have raised the demand for smart signage solutions, such as smart displays. Major retailers like Alibaba, Walmart, and Amazon are integrating digital solutions like smart signage. Additionally, the smart display can be utilized as a payment method to reduce line waiting during checkout because clients can use their cell phones to pay at the sign. Therefore, it is projected that each of these factors will create opportunities for the market for smart displays in the coming years.

Report Scope

Report Metric	Details
Market Size	USD 17.81 Billion by 2030
CAGR	29% (2022-2030)
Historical Data	2019-2020
Base Year	2021
Forecast Period	2022-2030
Forecast Units	Value (USD Billion)
Report Coverage	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered	Type, Display Size, Resolution, End-Use
Geographies Covered	North America, Europe, Asia-Pacific, LAME and Rest of the World
Key Companies Profiled/Vendors	Samsung, LG Electronics, Google LLC, Panasonic Corporation, Japan Display Inc, Sony, Alpine Electronics, Sharp Corporation, Leyard Optoelectronic, Manga International Inc.
Key Market Opportunities	The Advent of Smart Technologies in Developing Nations
Key Market Drivers	The Growing Demand for AI and IoT-Enabled Smart Devices Demand for Smart Mirrors in Automotive Sector

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Regional Insights

The Asia Pacific will command the market with the largest share. One of the factors boosting the growth of the smart display market in Asia-Pacific is the rise in the use of smart signage and mirror displays in the retail, residential, and healthcare sectors. Additionally, it is predicted that the market will expand significantly throughout the projection period due to increased demand for digital communication systems. In addition, it is projected that the Asia-Pacific smart display market will gain from the high demand for surveillance and smart home displays in the automobile sector. Furthermore, it is projected that the future growth of smart display technology in this region will be influenced by the technological advancements made in smart signs and mirrors by China, Japan, South Korea, and others, including the digital wall and 8K signage technology. The market for smart displays is expanding in Asia-Pacific due to these forces working together.

North America is anticipated to maintain a dominant position in the global market for smart displays due to the presence of major competitors and the accessibility of cutting-edge smart home solutions. The market for smart displays has recently been driven by the adoption of smart signage technology across the commercial and industrial sectors. For instance, it is anticipated that over the forecast period, a rise in government initiatives in North America to build smart infrastructure across airports, railway stations, and other commercial sectors will be a crucial driver of the smart display market.

The area's rise has also been aided by the creation of new smart display technology by significant industry participants like Google, Amazon, Apple, and Facebook. The demand for customer contact and digital communication in the healthcare, retail, sports, and entertainment industries is one factor driving the growth of smart signage solutions in this region's smart display market.

Key Highlights

The global smart display market had a revenue share of USD 1.80 billion in 2021, presumed to reach USD 17.81 billion, expanding at a CAGR of 29% during the forecast period.
Based on type, the signage section is projected to advance at a higher CAGR and hold the largest market share.
Based on display size, 32-inch and 52-inch sections are projected to advance at a healthy CAGR and hold the largest market share.
Based on the resolution, the HD section is projected to advance at a higher and hold the largest market share.
Based on end-use, the retail section is projected to hold the largest market share.
Based on regional analysis, the Asia Pacific will command the market with the largest share.

Competitive Players in the Market

Samsung
LG Electronics
Google LLC
Panasonic Corporation
Japan Display Inc.
Sony, Alpine Electronics
Sharp Corporation
Leyard Optoelectronic
Manga International Inc.

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Global Smart Display Market: Segmentation

By Type

Signage
Smart Mirror
Home Display

By Display Size

Below 32 inch
Between 32 and 52 inch
Above 52 inch

By Resolution

By End-Use

Retail
Residential
Healthcare
Automotive
Sports & Entertainment

By Region

North America
Europe
Asia Pacific
LAMEA

TABLE OF CONTENT

Introduction
1. Market Definition
2. Market Scope
Research Methodology
1. Primary Research
2. Research Methodology
3. Assumptions & Exclusions
4. Secondary Data Sources
Market Overview
1. Report Segmentation & Scope
2. Value Chain Analysis: Smart Display Market
3. Key Market Trends
  1. Drivers
  2. Restraints
  3. Opportunities
4. Porter’s Five Forces Analysis
  1. Bargaining Power of Suppliers
  2. Bargaining Power of Buyers
  3. Threat of Substitution
  4. Threat of New Entrants
  5. Competitive Rivalry
5. Market Share Analysis
Type Overview
1. Introduction
  1. Market Size & Forecast
2. Signage
  1. Market Size & Forecast
3. Smart Mirror
  1. Market Size & Forecast
Display Size Overview
1. Introduction
  1. Market Size & Forecast
2. Below 32 inches
  1. Market Size & Forecast
3. Between 32
  1. Market Size & Forecast
Regional Overview
1. Introduction
  1. Market Size & Forecast
2. America
  1. North America
  2. U.S.
    1. By Type
    2. By Display Size
  3. Canada
    1. By Type
    2. By Display Size
  4. Mexico
    1. By Type
    2. By Display Size
  5. Latin America
    1. By Type
    2. By Display Size
3. Europe
  1. Market Size & Forecast
  2. Germany
    1. By Type
    2. By Display Size
  3. France
    1. By Type
    2. By Display Size
  4. U.K.
    1. By Type
    2. By Display Size
  5. Italy
    1. By Type
    2. By Display Size
  6. Spain
    1. By Type
    2. By Display Size
  7. Rest of Europe
    1. By Type
    2. By Display Size
4. Asia Pacific
  1. Market Size & Forecast
  2. Japan
    1. By Type
    2. By Display Size
  3. China
    1. By Type
    2. By Display Size
  4. Australia
    1. By Type
    2. By Display Size
  5. India
    1. By Type
    2. By Display Size
  6. South Korea
    1. By Type
    2. By Display Size
  7. Rest of Asia-Pacific
    1. By Type
    2. By Display Size
5. Middle East & Africa
  1. Market Size & Forecast
  2. Saudi Arabia
    1. By Type
    2. By Display Size
  3. South Africa
    1. By Type
    2. By Display Size
  4. Kuwait
    1. By Type
    2. By Display Size
  5. Rest of Middle East & Africa
    1. By Type
    2. By Display Size
Company Profile
1. Samsung
  1. Company Overview
  2. Financial Performance
  3. Recent Developments
  4. Product Portfolio
2. LG Electronics
  1. Company Overview
  2. Financial Performance
  3. Recent Developments
  4. Product Portfolio
3. Google LLC
  1. Company Overview
  2. Financial Performance
  3. Recent Developments
  4. Product Portfolio
Conclusion & Recommendation
Acronyms & Abbreviations

Table of Content and Figure @ https://straitsresearch.com/report/smart-display-market/toc

Market News

In 2022, Samsung launched a second-generation SmartSSD. Samsung's SmartSSD can analyze data directly, reducing the time that data must be transferred between the CPU, GPU, and RAM compared to other SSDs.

News Media

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Smart Display Market size is projected to reach USD 17.81 billion by 2030, growing at a CAGR of 29%: Straits Research

The global smart display market size was valued at USD 1.80 billion in 2021, presumed to reach USD 17.81 billion, expanding at a CAGR of 29% during the forecast period (2022-2030). The Asia Pacific will command the market with the largest share during forecast period.

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Smart Display Market size is projected to reach USD 17.81 billion by 2030, growing at a CAGR of 29%: Straits Research

The global smart display market size was valued at USD 1.80 billion in 2021, presumed to reach USD 17.81 billion, expanding at a CAGR of 29% during the forecast period (2022-2030). The Asia Pacific will command the market with the largest share during forecast period.

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