According to SNS Insider, the smart display market is expected to expand dramatically from USD 3.09 billion in 2023 to USD 30.53 billion by 2031, with an expected growth of 33.1 billion during the forecast period of 2024 to 2031. It is predicted to achieve an impressive CAGR of %.
Rising industry-wide demand drives market expansion
The rapid growth of the smart display market is driven by several factors. In the automotive industry, smart displays are replacing traditional mirrors to improve safety and visibility. As smart homes become more popular, smart displays are being utilized to control devices and provide a seamless experience for homeowners. Smart displays are also widely used in retail environments to transform customer interactions through personalized ads and enhanced product information.
The integration of advanced technologies such as voice assistants and touchless interfaces is revolutionizing healthcare by streamlining communication, enabling time management, and improving hygiene standards. The smart display's ability to manage patient information and provide up-to-date information to physicians improves efficiency, especially during emergencies. Home automation is another major growth driver for smart displays. His AI-powered hub for smart displays lets you easily control devices like lights, fans, security cameras, entertainment systems, and more with simple voice commands. Rising smartphone penetration has complemented the growth of smart displays, making home automation incredibly user-friendly.
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Top companies featured in the smart display market report:
BOE Technology Harman International Industries Lenovo Panasonic ViewSonic LG Display Samsung Electronics Sharp Innolux Sony
recent trends
In September 2022, LG Corporation released the revolutionary LG Smart Monitor 32SQ780S, a 32-inch 4K display with features such as AirPlay 2 support and USB-C connectivity. In June 2022, Samsung Electronics announced the M8 32-inch smart monitor with enhanced Google Assistant and the latest Alexa experience. In September 2021, Amazon Inc. launched Echo Show 15, a next-generation smart display equipped with a Neural Edge processor and advanced Alexa features. In December 2021, Samsung Electronics introduced the HDR10+ GAMING standard to enable immersive gaming experiences on compatible 4K and 8K smart displays. In October 2021, NEC will launch its C series large-format displays (C750Q and C860Q) targeting applications in the corporate, retail, and education sectors.
The segmentation of the Smart Display industry is as follows:
By product
Smartphone Smart TV Interactive Kiosk Digital Signage Head-up Display Smart Wearable
By product: Digital signage segment is leading the market driven by its popularity in retail environments. Digital signage can connect to his IoT devices and display personalized ads to improve customer experience.
By technology
TFT OLED LCD TFT-LCD Others
By Technology: OLED displays dominate the market due to increased technology adoption, superior image quality, and significant energy efficiency compared to older types of displays.
By industry
Automotive Healthcare Housing Commercial Education Others
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Impact of the Russia-Ukraine war
The ongoing war between Russia and Ukraine has a multifaceted impact on the smart display market. Supply chain disruptions pose challenges for manufacturers, particularly impacting the availability of raw materials and semiconductors. Conflict-induced inflationary pressures may also affect consumer spending patterns, potentially causing temporary declines in adoption rates in some sectors.
Smart display market size and growth report
The Asia Pacific (APAC) region will dominate the global market with a share of 54.23% in 2023 due to several factors.
Increasing use of smart screens in smart vehicles and smart cities is driving market growth. Leading companies in APAC are adopting strategic measures such as partnerships, collaborations, and acquisitions to drive market growth. Local governments and public sector organizations in APAC are showing active interest in smart city initiatives, further boosting the smart display market.
Japan, a frontrunner in APAC, is expected to be the fastest growing market due to advanced display production capacity, rapid technology adoption, and strategic corporate initiatives.
Key points of smart display market research
The smart display market is expected to grow significantly due to technological advancements, integration with smart home technologies, and demand for interactive experiences across various industries. Smart displays are transforming many sectors of the economy, including healthcare, retail, automotive, and home automation. OLED technology is gaining traction in the market due to its superior image quality and energy efficiency. Asia Pacific is leading the smart display market with significant growth potential due to smart city initiatives, innovative manufacturing, and strong presence of key industry players.
Table of contents main points
1.First of all
2. Research method
3. Market trends
4. Impact analysis
5. Value chain analysis
6.Porter's 5 force model
7. PEST analysis
8. Smart Display Market Segmentation by Product
9. Smart Display Market Segmentation by Technology
10. Smart Display Market Segmentation by Industry
11. Regional analysis
12. Company profile
13. Competitive environment
14. Use cases and best practices
15. Conclusion
continuation….
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