According to the latest report by IMARC Group, titled “Smart Display Market Report: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” the global smart display market reached a value of US$ 4.79 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 16.16 Billion by 2027, exhibiting at a CAGR of 22.56% during 2022-2027. A smart display is a voice assistant smart device designed to be used around the home and includes a sizable touchscreen. It has touchscreens that you can use for more than just controls; screens that support entertainment, informational videos, video chats, and much more. It can also connect to and control other smart devices in the house. It has a much tighter focus on voice assistant commands and video-oriented capabilities. This specialization makes smart displays very easy to use, even without training. A smart display is set up so you can control smart devices, like light switches and front door locks, with your voice. It finds extensive applications in the automotive and retail sectors. In the retail industry, a smart mirror, an innovative technology capable of tracking the user’s personal information and shopper’s experience, is widely used.
Industry Growth Drivers:
The global market is majorly driven by increasing demand for next-generation advertising and monitoring technology. In line with this, the rising demand for artificial intelligence and Internet of Things-based smart applications in the residential sector is significantly contributing to the market growth. Furthermore, the growing usage of smart mirror systems in the automotive industry and escalating demand for digital advertisement across healthcare, retail, and commercial sectors are positively influencing market growth. Apart from this, the increasing number of smart retail stores worldwide and widespread demand for enhanced smart display solutions are offering numerous opportunities for market expansion. The new and innovative features offered by the smart mirror are catalyzing product uptake in the automotive industry. Moreover, the rising trend of context-aware signage and the rapid adoption of smart signage in retail are propelling the market growth.
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We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Industry Demand Analysis:
The advent of high-speed internet broadband, Wi-Fi, and Bluetooth further influences the market. Various companies are focusing on developing smart devices enabling home automation. This, in turn, is creating a positive outlook for the market. Besides, the growing demand for navigation, driver assistance, multimedia systems, connected car features, and enhanced driver-to-vehicle communication is favoring product adoption in the automotive industry. With the increasing incorporation of auto functions during a display application, smart display manufacturers are providing LCD and TFT-LCD display panels with unique designs. In addition, the proliferation of connected devices is strengthening the demand for smart display solutions. Private organizations and governments across various countries are investing heavily in smart products and solutions developments. This is expected to provide a boost to the smart display market growth.
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Global Smart Display Market 2022-2027 Analysis and Segmentation:
Competitive Landscape with Key Players:
BOE Technology Group Co. Ltd.
Google LLC (Alphabet Inc.)
Lenovo Group Limited
LG Electronics Inc
Samsung Electronics Co.Ltd.
Sony Group Corporation
Winstar Display Co. Ltd.
Breakup by Type:
Breakup by Display Size:
Below 32 Inch
Between 32 and 52 Inch
Above 52 Inch
Breakup by Resolution:
Breakup by End User:
Sports and Entertainment
Breakup by Region:
North America (United States, Canada)
Europe (Germany, France, United Kingdom, Italy, Spain, Others)
Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key Highlights of the Report:
Market Performance (2016-2021)
Market Outlook (2022-2027)
Porter’s Five Forces Analysis
Market Drivers and Success Factors
Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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