Pune, India, Aug. 25, 2023 (GLOBE NEWSWIRE) -- The global Smart Display Market Size was valued at USD 5.12 billion in 2021 and is projected to reach USD 22.02 billion by 2029, exhibiting a CAGR of 21.0% during the forecast period. Fortune Business Insights™ has mentioned this in their published report titled, “Smart Display Market Forecast, 2023-2029.”
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Key Industry Development
LG Corporation launched its smart screen, LG Smart Monitor 32SQ780S. This new LG monitor screen comes with a 32-inch 4K panel, AirPlay 2 support, and USB-C connectivity. This new product provides a better experience to its customers.
Key Takeaways:
- Close Down of Production Plants and Disturbance in Supply Chains Negatively Impacted Market Growth
- By Technology Analysis : LED Display Segment is Dominating Due to High Demand for Power-efficient Screens
- Growing Utilization of Smart Mirrors in the Automotive Industry to Emerge as a Trend
- Smart Display Market Size in Asia Pacific was USD 2.72 Billion in 2021
Discover the Leading Players Featured in the Report:
“Companies leading the Smart Display Market are Amazon.com, Inc. (U.S.), BenQ Corporation (Taiwan), Japan Display Inc. (Japan), LENOVO GROUP LIMITED (Hong Kong), NEC Corporation (Japan), LG Electronics (South Korea), Alpine Electronics, Inc. (Japan), Sony Corporation (Japan), Panasonic Corporation (Japan), Samsung Electronics Co., Ltd. (South Korea)”
Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2022 to 2029 |
| Forecast Period 2022 to 2029 CAGR | 21.0% |
| 2029 Value Projection | USD 22.02 Billion |
| Base Year | 2021 |
| Smart Display Market Size in 2021 | USD 5.12 Billion |
| Historical Data for | 2018 to 2020 |
| No. of Pages | 160 |
| Segments covered | Technology, Type, End-user and Geography |
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Drivers and Restraints
- Rising Smart Screens and Display Adoption from the Healthcare Sector to Propel Market Progress
- A smart display is an integrated touchscreen version and connects with high-end home automation systems.
- Increasing smart screens and display adoption from the healthcare sector is estimated to foster market progress.
- Furthermore, the advantage of smart displays in treating patients is likely to surge the product demand. Moreover, rising healthcare investments may elevate the product adoption.
- Rapid technological innovations in medical technology may enhance sales. These factors are likely to boost the smart display market growth.
- However, high prices of the product may hamper market progress.
Segmentation
By Technology
- LED
- LCD
By Type
- Smart Display Mirror
- Smart Home Display
- Smart Signage
By End-user
- Smart City
- Automotive
- Retail
- Sports & Entertainment
- Healthcare
- Others
By Region
- North America
- Europe
- Middle East & Africa
- Asia Pacific
Regional Insights
Increasing Adoption of Smart Screens to Propel Market Progress in Asia Pacific
Asia Pacific is expected to dominate the smart display market share due to the rising adoption of smart screens. The market in Asia Pacific stood at USD 2.72 billion in 2021 and is expected to gain a huge portion of the global market share in the coming years. Further, incorporating smart screens in smart vehicles will likely boost the industry’s growth.
In North America, the rising adoption of novel technologies in the industrial and residential sectors is likely to boost the adoption of smart screens. Further, the presence of numerous smart facilities in the region is likely to foster market progress.
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Competitive Landscape
Major Players Launch Novel Products to Enhance their Brand Image
Prominent companies operating in the market devise novel product launches to enhance their brand image. For example, Lenovo Group Inc. announced its novel Lenovo smart display infused with a smart clock in India in August 2019. The product is powered by Google assistant and simplifies operations in a smart home. This launch may enable the company to reinforce its product offerings and enhance its brand image. Furthermore, major players deploy mergers, research and development, partnerships, acquisitions, and expansions to boost their market position.
FAQ’s
How big is the Smart Display Market?
Smart Display Market size was USD 5.12 billion in 2021.
How fast is the Smart Display Market growing?
The Smart Display Market will exhibit a CAGR of 21.0% during the forecast period, 2022-2029
Related Reports:
Touch Screen Display Market Size, Industry Share
Rugged Display Market Size, Share, Trends
Automotive Smart Display Market Size, Industry Share
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