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The global smart display market size attained a value of approximately USD 7.20 billion in 2023. The market is further expected to grow in the forecast period of 2024-2032 at a CAGR of 22.2%, reaching a value of around USD 43.80 billion by 2032.
An increase in research and development efforts, growing focus of market participants' on creating improved smart displays with added features, and an increase in the number of smart stores are anticipated to add to the smart display market revenue. Further advancements in technology of smart displays are likely to heighten its applications across end-users, particularly to aid in customer relations and retention in directly customer facing industries. The growing use of smart displays in the healthcare industry to show patients and visitors maps and directions to the facility and share updates about patient health and treatment, is also surging the market for smart displays.
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The Asia Pacific market for smart displays is expected to develop at the highest rate during the forecast period, owing to the high adoption of smart displays in automobiles and home appliances. The presence of various small and medium-scale retailers in the region has contributed to the region's growth in the market. Asia Pacific is also home to a number of major players in the smart display market.
Continuous economic expansion, significant technical advancements, more retail space, a broad base of consumers, improved standards of living, and a shift in the lifestyles of consumers have prompted shops in the region to install smart signage solutions in order to boost sales. These firms are focusing on product innovation and investment in introducing their products, in order to get a competitive advantage. In regions such as China and India, the demand for smart displays is anticipated to rise exponentially across residential and automotive sectors, further driving the market's growth.
A smart display is a digital solution that may be operated using voice remotes or Internet of Things (IoT) devices. They are internet-enabled devices that can act as an integrated display screen for digital assistants or other devices.
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By type, the market is divided into:
Based on display size, the market is categorised into:
On the basis of resolution, the market is classified into:
Based on end use, the market is segmented into:
The regional markets for smart displays are divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The market for smart displays is expected to witness substantial growth during the forecast period, owing to the rise in demand for artificial intelligence (AI) and Internet of Things (IoT) based smart applications in the residential sector. Growing demand for portable LCD displays, touch screens, and voice command devices have increased the number of smart home appliances, which further increases the market growth for smart displays.
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The smart home market is predicted to expand significantly throughout the forecast period, with an increase in the number of smartphones around the world and rising disposable incomes. AI-powered smart screens can lead to significant investments in the market because of their uses in smart homes for managing lights, fans, security cameras, TV, and other devices. Increased demand for complex features in consumer electronics applications is also expected to boost the market.
The increase in demand for digital advertisements across healthcare, retail, and commercial sectors is expected to boost the demand for smart displays. The rise in the number of smart retail stores worldwide and surge in demand for enhanced smart display solutions are expected to offer lucrative opportunities for the growth of the market during the forecast period. The market is also expected to be driven by an increase in demand for smart mirror systems in the automotive market.
The report gives a detailed analysis of the following key players in the global smart display market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Type |
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| Breakup by Display Size |
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| Breakup by Resolution |
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| Breakup by End Use |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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In 2023, the global market for smart displays attained a value of approximately USD 7.20 billion.
The market is projected to grow at a CAGR of 22.2% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032, reaching a value of around USD 43.80 billion by 2032.
The major drivers of the market include the technical advancements, improving standards of living, surge in disposable income in developing countries, increase in demand for digital advertisements, rise in the number of smart retail stores, and an increase in the number of smartphones.
The key smart display market trends include rise in demand for artificial intelligence (AI) and Internet of Things (IoT), and an increase in demand for smart mirror systems in the automotive industry.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The significant types of smart displays in the market are signage, home display, and smart mirror.
The various display sizes in the market for smart displays are below 32 inches, between 32 and 52 inches, and above 52 inches.
The different resolutions of smart displays in the market are FHD, HD, and UHD.
The leading end uses of smart displays include automotive, residential, retail, healthcare, and sport and entertainment.
The major players in the market, according to the report, are Alpine Electronics, Inc., Alphabet Inc., Japan Display Inc., Leyard Optoelectronic Co., Ltd., LG Electronics Inc., Samsung Electronics Co. Ltd., Sony Group, Panasonic Corporation, Amazon.com, Inc., and Gentex Corporation, among others.
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