Smart Display Market

Global Smart Display Market Size (2024 to 2029)

The global smart display market was valued at USD 2.27 billion in 2023 and USD 14.36 billion by 2029, growing at a CAGR of 36% during the forecast period. Smart Display Market is already witnessing the growth from the past 5 to 7 years because of the uses it has in daily life.

Smart Display is a display that features a touchscreen, easy-going keyboard, portable functions, etc., They are used in various applications such as smartphones, computers, laptops, video game consoles, home security systems and so on. The increase in the demand for these smart displays is because of the excellent features they offer.

Smart Displays are way too intelligent that can be controlled by simple voice commands, remote devices and with the help of the IoT (Internet of Things) and also with AI (Artificial Intelligence). Smart Display is a solution for most of the manufacturers to add some interactive features that attract the buyers for their products in the market. And also, they can merge some advanced features in their products. The benefits that smart display offers is one of the primary reasons for the growth of the Smart Display Market.

Smart Display is a touchscreen device that can enable its users to share, connect and interact with other connected device, and they are also used to communicate as a monitor for web surfing and other activities. These smart displays have a wide range of portfolio in terms of their application, which includes the automotive, residential, commercial, education, and healthcare industries, among others. 

Drivers and Restraints:

The rise in the trend of digitalization enabled the conversion of a conventional home to a smart house by using technologies like IoT (Internet of Things), AI (Artificial Intelligence), etc. The simplification of applying integrating smartness to house made end-user show interest in them. The factor of the digitalization trend is growing on people day by day.

This is rising the demand for gadgets like smart speakers, smart lights, etc., which need a display to use them with ease. And the competition between the big brands made these products cheaper and agile to attract consumers. Amazon, one of the leading companies that manufacture smart displays, have no competition till 2017. But, because of the success of the ecosystem that Amazon offered, Brands like Google LLC, Lenovo, Facebook, Samsung came to the market. These factors are fuelling the growth of the Smart Display Market.

The upsurge in demand for smart mirrors in the automobile industry is one of the critical factors for the rise in Smart Display Management. The need for safety and secure feel in the automotive industry is growing every day. Also, the element of comfort and luxury is willing the manufacturer to integrate these smart displays in the vehicles they manufacture. They are used for many applications in the automotive industry like showing the temperature, controlling the infotainment and multimedia in a car which is one of the standard features now in almost every vehicle. Nowadays, smart displays are also used for displaying the speedometer and tachometer to add the coolness factor. And also because of the need for connected cars for the future, these smart displays are going to play one of the significant roles. 

GLOBAL SMART DISPLAY MARKET REPORT COVERAGE:

This research report on the global smart display market has been segmented and sub-segmented based on the touch panel type, technology, product type, end-user, and region.

Global Smart Display Market - By Touch Panel Type:

• Resistive

• Capacitive

Global Smart Display Market - By Technology:

• OLED

• TFT-LCD

• Others

Global Smart Display Market - By Product Type:

• Smart Wearables

• Smart Televisions

• Smartphone

• Others

Global Smart Display Market - By End-User:

• Residential

• Automotive

• Sports & Entertainment

• Retail

• Hospitality

• Others (Corporate and Banking Sector)

Automotive industry is going to be one of the active areas for the smart display market. This is majorly due to the usage of these smart mirrors in multiple applications in the automotive industry, which are replacing the traditional rear and side-view mirrors. These applications can use to increase the safety factor and also comfortable to apply for the consumer. Not only as smart mirrors but also for many other applications in the automotive industry like infotainment systems, displaying the temperature of the air conditioning system and even for displaying speedometer, tachometer and fuel gauge are boosting the growth of smart display market in the automotive industry.

The retail segment is going to witness massive growth because of the competition that retail stores are having with online shopping. To attract customers to their store, retailers would bring these displays to showcase their products and their offerings as advertisements. Factors like improving the customers shopping experience a bit better are one of the key factors that this smart display business is going to shine in the retail segment.

Global Smart Display Market - By Region:

• North America

• Europe

• Asia Pacific

• Latin America

• Middle East & Africa

It is expected that North America smart display market is going to hold a significant share in the forecast period. The adoption of advanced technology is growing day by day in countries like Canada and the US. And the rise in their revenue is one of the reasons for this market to grow in the North American region. In addition, demand for consumer electronics is increasing because of the comfort and ease of living that they offer in this region.

Asia-Pacific (APAC) smart display market as an excellent scope for the growth of this business, owing to the presence of the largest smart display manufacturers in Japan, China, and Taiwan. It is followed by Europe, which is the home to luxury carmakers like BMW, Mercedes-Benz, Audi, Volkswagen, Daimler in Germany and Volvo in Sweden.

Key Market Participants:

1. Amazon

2. Benq

3. Hitachi Ltd.

4. Panasonic Corporation

5. LG Signature

6. Samsung Electronics Co. Ltd.

7. Boxlight Corporation

8. Vivo

9. Nexcom International Co. Ltd.

10. John Deere

Recent Industry Developments:

• BenQ's, a Taiwan based company, has announced its new Display with a 240Hz refresh rate. BenQ is saying that the Display they are going to launch has a very less motion blur which we have not seen yet. Not only the 240Hz refresh rate but also the addition of DyAc+ (Dynamic Accuracy Plus) technology that they have developed for their future products is also one of the reasons for the decrease in the motion blur. The technology, DyAc+, can also be used instead of Adaptive-Sync. 

• Google has recently introduced Google Home Hub, which has a feature called Ambient EQ, which is a combination of a dedication sensor and imaging algorithm that tunes displays' color and brightness. 

• Boxlight Technologies, a US-based company and Central Technologies are selected as approved providers interactive panel displays for Shelby County Schools, one of the largest public school districts in the United States. It is said that Procolor Interactive Flat Panel Display is at the top in product from vendor-submitted proposals. Boxlight Technology is manufacturing these displays with its subsidiary Mimio.