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Global Smart Display Market to Reach USD 14.77 Billion by 2027, Aided by Rising Demand for AI-Powered and IoT-Enabled Smart Appliances

According to a new report by EMR titled, ‘Global Smart Display Market Report and Forecast 2021-2027’, the global smart display industry reached a value of about USD 4.59 billion in 2021. The industry is further expected to grow at a CAGR of about 21.50% in the forecast period of 2022-2027 to reach a value of around USD 14.77 billion by 2027.

The smart display market is primarily driven by the rising demand for smart home devices. The market's fast expanding demand for smart and connected home devices is prompting manufacturers to expand their offerings with more functionality, increased reliability, and increased product utilisation, which is expected to fuel market growth. One of the key tenets driving the adoption of smart home devices and contributing to the transformation of homes is the rising penetration of the Internet of Things (I0T). As a result, demand for smart displays in smart homes is projected to rise as smart home device usage rises. Players are expanding their product lines geographically in response to the market's growth. The popularity of smart speakers, for example, contributed to the growing adoption of smart home products. The growing availability of various voice assistants, the integration of AI in a variety of smart home devices, and the fast-rising demand for IoT-enabled smart appliances are likely to propel the smart display market forward. The major opportunity for smart display in the market during the projected period are the expansion of retail space globally and the development of flexible and transparent displays. The automotive smart display mirror market is being driven by consumer demand for connected mirrors, which is developing due to an increased focus on vehicle safety and convenience.

The market's growth is projected to be aided by the demand for advanced features in smart displays. Various businesses are introducing new items and cooperating with other businesses to broaden their reach. In October 2019, LG Display (NYSE: LPL) teamed with Harrods to showcase large-scale transparent OLED panels. LG Display aimed to increase the use of OLED products and lead the OLED market soon with this unprecedented action of teaming up for the second time with the most high-end retailer.

Market Analysis by Type, Display Size, Resolution, End Use, and Regions:

  • Based on type, the market is categorised into signage, home display, and smart mirror. 
  • On the basis of display size, the market is divided into below 32 inches, between 32 and 52 inches, and above 52 inches. 
  • Based on resolution, the market is divided into FHD, HD, and UHD. 
  • The end use of the market includes automotive, residential, retail, healthcare, and sport and entertainment.   
  • The regional markets for smart display include North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • Growing inclination towards modern lifestyle and shifting consumer preferences is expected to drive the growth of the market.
  • Increasing disposable incomes of the consumers will boost the market growth of smart display.
  • Advancements in digitalisation is a major factor which will boost the growth of the market
  • Increased research and development activities and increased investment will propel the market growth.
  • An increase in the number of smart stores is projected to support worldwide market growth in the future.

Key Offerings of the report:

  • The EMR report gives an overview of the global smart display industry for the periods (2017-2021) and (2021-2027).
  • The report also offers the historical (2017-2021) and forecasted (2021-2027) markets for type, display size, resolution, end use, and major regions of smart displays.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global smart display industry Alpine Electronics, Inc., Alphabet Inc., Japan Display Inc., Leyard Optoelectronic Co., Ltd., and LG Electronics Inc., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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*We at Expert Market Research always strive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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