USD 7.52 Billion
Smart Display Market Size, Share, Growth Analysis, By Type(OEM Rearview Display Mirror, Aftermarket Rearview Display Mirror, Side-view Display Mirror), By Component(Display Panels, Camera & Sensor Modules, Glass & Hardware, Software), By Smart Home Display(Voice-controlled/Assistance Smart Display (Display Panels, Hardware Components, Software), Smart Appliance Display (Display Panels), By Smart Signage(Application (Retail & Hospitality Facilities, Transportation Hubs & Public Places, Sports & Entertainment Venues, and Others)), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG25E2117 |
Region:
Global |
Published Date: August, 2024
Pages:
223
|Tables:
93
|Figures:
76
Smart Display Market Insights
Global Smart Display Market size was valued at USD 3.50 Billion in 2022 and is poised to grow from USD 4.59 Billion in 2023 to USD 40.32 Billion by 2031, at a CAGR of 31.20% during the forecast period (2024-2031).
Displays that use smart technologies to provide additional features and functionality are known as smart displays. Advancements in display technologies and growing demand for smart systems and technologies around the world are projected to bolster the demand for smart displays. Rising popularity of smart homes and growing integration of smart displays in the same are also expected to favor market growth going forward. High use of interactive kiosks, digital signage, and other interactive products is also creating new opportunities for smart display companies going forward. The growing number of remote workers around the world and the need for better video conferencing solutions is also expected to favor sales of smart displays over the coming years. However, limited consumer awareness, challenges in integration, and high costs of advanced smart display are projected to be key constraints hindering market development potential going forward.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Smart Home Displays
Fastest Growth
Smart Signage Displays
Growth Rate
21.2% CAGR
Country Share for Asia Pacific Region (%)
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Smart Display Market Segmental Analysis
Global Smart Display Market is segmented based on the Type, Component, Smart Home Display, Smart Signage, and Region. Based on Type, the market is segmented into OEM Rearview Display Mirror, Aftermarket Rearview Display Mirror, and Side-view Display Mirror. Based on Components, the market is segmented into Display Panels, Camera & Sensor Modules, Glass & Hardware, and Software. Based on Smart Home Display, the market is segmented into Voice-controlled/Assistance Smart Display (Display Panels, Hardware Components, and Software), and Smart Appliance Display (Display Panels, Hardware Components, and Software). Based on Smart Signage, the market is segmented into Application (Retail & Hospitality Facilities, Transportation Hubs & Public Places, Sports & Entertainment Venues, and Others), and Offering (Displays, Media Players, Software Solutions/Platforms, And Services). Based on region, the market is segmented into North America, Europe, Asia-Pacific, Middle East and Africa, and Latin America.
Analysis by Component
Display panels are projected to account for a dominant share of the global smart display market owing to them being a primary component of any smart display. Advancements in display technologies have resulted in the development of novel display panels, contributing to this segment's dominance. Moreover, use of better manufacturing technologies to reduce costs of display panels while maximizing their quality is also helping it maintain a high market share.
Meanwhile, the demand for camera and sensor modules is projected to increase rapidly around the world going forward. Increasing demand for integration of cameras and different types of sensors into smart displays themselves is projected to help boost market growth. Moreover, growing investments in the development of novel sensor and camera modules will also help this segment bring in substantial revenue in the long run.
Analysis by Smart Home Display
Voice-controlled/assistance smart displays are projected to be highly popular and account for a dominant share of the global smart display market. Growing popularity of smart home solutions and the rising adoption of virtual and digital assistants are also projected to help the dominance of this segment. The need for more functional smart displays with voice control to operate digital assistants will bolster market growth over the coming years.
On the other hand, the demand for smart appliance displays is projected to surge at an impressive pace across the study period. Growing adoption of smart home appliances and the need for integration of smart displays in the same is projected to bolster market growth in the future. From touchscreen to voice control, almost all kinds of interactive smart displays are projected to be in demand in this segment going forward.
Global Smart Display Market Size By Type (%)
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Smart Display Market Regional Insights
The Asia-Pacific region is projected to account for a dominant share of the global smart display market going forward. The growing use of smart displays for multiple applications and evolving consumer preferences are primarily helping the dominance of this region. The presence of robust display manufacturing activity in this region coupled with the presence of key display providers also helps the region’s dominance. India, China, South Korea, and Japan are slated to be the most opportune markets for smart display companies in this region. Improving the standard of living of people in this region will also help boost sales of smart displays over the coming years.
Meanwhile, the demand for smart displays in the North American region is projected to rise at a notable pace across the forecast period. High adoption of smart technologies, growing popularity of smart home products, and high consumer spending potential are projected to help boost smart display sales in this region. The presence of a developed technological infrastructure and high consumer awareness regarding benefits of smart technologies also creates new opportunities for smart display companies operating in this region. The United States is projected to be the leading market for smart display providers in North America going forward.
Global Smart Display Market Size By Region
- Largest
- Fastest
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Smart Display Market Dynamics
Drivers
Popularity of Smart Homes
- Smart homes have become more popular than ever before and this hike in popularity of smart homes around the world is boosting sales of smart home products. Smart displays are an important part of smart home products, which is why as their demand increases, they drive market growth as well.
Advancements in Display Technologies
- Investments in development and advancement of novel display technologies are increasing rapidly. These advancements are opening new scope of application for smart displays, thereby driving market development potential as well.
Restraints
Limited Consumer Awareness
- While smart displays are quite popular, they still have a long way to go as most consumers in underdeveloped and developing countries are not aware of their benefits. This limited consumer awareness is inhibiting the smart display market from reaching its full growth potential.
High Costs of Advanced Display
- Advanced smart displays utilize advanced technologies which are quite expensive to develop and deploy. This results in expensive smart displays, which are not accessible or affordable for many consumers. This limited accessibility due to high costs is projected to hamper smart display sales outlook in the long run.
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Smart Display Market Competitive Landscape
Smart Display Market can collaborate with smart home companies or launch their own smart display hubs to provide centralized access to smart home devices and appliances. Smart display companies can also focus on expanding the smart capabilities of their displays to gain a competitive advantage over other market players. Launching new smart displays with advanced features that rival the products available in the market is the preferred strategy for all companies
Top Player’s Company Profiles in Smart Display Market
- Samsung Electronics (South Korea)
- LG Electronics (South Korea)
- NEC (Japan)
- Sony (Japan)
- Panasonic Corporation (Japan)
- Amazon (United States)
- Apple (United States)
- Facebook (United States)
- Gentex (United States)
- Magna International (Canada)
- Qualcomm (United States)
- Intel (United States)
- Honeywell (United States)
- Lenovo (China)
- Electric Mirror (United States)
- Qisda (Taiwan)
- Alphabet (Google) (United States)
- Leyard Optoelectronic (Planar) (China)
- Robert Bosch GmbH (Germany)
- ALPS Alpine Co., Ltd. (Japan)
- IBM (United States)
- Smart Parking (Australia)
- Dirror (Germany)
- Myra Mirrors (United States)
Global Smart Display Market Recent Developments
- LG Electronics, a globally known South Korean consumer electronics company, launched two new smart monitors. The new launches came in two sizes of 27 and 32 inches with multiple smart features such as screenshare, AirPlay, Wi-Fi, etc. in April 2024.
- SMART Technologies, a renowned provider of interactive displays for the education industry entered the Indian market in September 2024. The company also launched its new line of smart interactive displays for Indian customers.
- The Xiaomi Smart Home Screen 10 featuring Bluetooth 5.0 was launched by Chinese consumer electronics provider back in November 2023. This was the global launch as the product was previously made available in China. Xiaomi made the products available for purchase via AliExpress.
Smart Display Key Market Trends
Adoption in Smart Retail
- The retail industry is undergoing some major changes to enhance customer experience and boost operational efficiency. The use of interactive kiosks, smart payment systems, and digital signage in the retail industry is projected to create many new opportunities for smart display providers in the long run. Targeting this industry could pay off big time by the end of the study period.
Use of Smart Displays in Healthcare
- Healthcare is another industry where the demand for smart displays is projected to shine brightly over the coming years. Growing digitization of the healthcare industry and the need for better interactive displays for multiple medical devices will also create a new business scope for smart display market players in the future.
Smart Display Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, high demand for smart home products and advancements in display technologies are projected to primarily augment demand for smart displays over the coming years. On the contrary, limited consumer awareness and expensive advanced displays could slow down the global smart display market development in the future. The presence of key display manufacturing companies and rising disposable income of people are projected to help Asia Pacific spearhead sales of smart displays in the world. Targeting the healthcare and retail industries will create new revenue generation opportunities for smart display companies in the long run.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 3.50 Billion |
| Market size value in 2031 | USD 40.32 Billion |
| Growth Rate | 31.20% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Smart Display Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Smart Display Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Smart Display Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Smart Display Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Smart Display Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Smart Display Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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