That global market for intelligent displays Size is expected to grow from $4,776.1 million in 2021 to $22831.8 million by 2030 at a CAGR of 21.6% from 2022-2030. A smart display is a digital solution controlled by voice remote control devices or IoT enabled devices. The smart display application in automotive and retail segment, such as B. the Smart Mirror, is an innovative technology capable of tracking personal information of users and buyers‘s experience. Smart Emerging as an advanced technological solution also adds interactive and advanced control capabilities.
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Smart display applications use LED, LCD, and other projections onto pre-selected content. A smart display is widely used in retail, healthcare, and sports and entertainment sectors due to the increasing demand for Next–Generation advertising and surveillance technology. Also, intelligent display applications such as signage are designed to enhance customers’ shopping experience, greet customers and display advertisements in retail stores, driving the adoption of vision technology in the hospital and clinical sector.
The smart display market is growing during the forecast period owing to an increasing demand for artificial intelligence and the Internet of Things–based smart applications in the residential sector due to an increase in disposable income in developing countries. In addition, the smart display market is expected to be driven by the demand for smart mirror systems in the automotive industry. In addition, increasing demand for digital advertising in the healthcare, retail and commercial sectors is expected to drive demand for smart displays.
COVID–19 Impact on the Global Smart Display Market
The coronavirus is having a major impact on various industries including retail, consumer electronics, etc. Smart Display Hubs have been temporarily shut down due to the rise of COVID–19. This has severely impacted the global supply chain of the smart display market as raw materials, components and spare parts have become in short supply. In addition, the effects of COVID–19 on production has significantly impacted the global supply chain.
The economic impact of the COVID–19 pandemic has been largely disruptive. Companies in the smart display industry state that a temporary closure of production facilities for the years 2020 to 2021 would lead to a drop in sales. Demand for new and innovative products is expected to increase once the economy begins to recover. Instead of simply improving products based on the current status–from–that–Art technology, companies look forward to investing next–Generation products with new technologies.
Global Smart Display Market Dynamics
driver: Increasing demand for AI and IoT-enabled smart applications
The advancement of the main technology and high–Speed Internet has expanded smart home applications worldwide. A proliferation of smartphones has facilitated the growth of smart home applications. Additionally, the global advancement in home automation has led to the adoption of smart home application technologies such as smart displays in residential areas to control digital applications such as smart lights, thermostats and more. In addition, the development of AI–Powered smart display technology is expected in the home to drive demand for intelligent automation technology to control lights, fans, surveillance cameras and others, and will further increase the need for smart display technology worldwide.
limitations: High risk of customer data breach
The increasing proliferation of intelligent devices such as smartphones, smart displays and other computers–based devices have led to the global growth of electronic data–storage technology. Smart display mirrors are able to track and save the ending–personal data of the user. For example, smart mirror applications in retail are designed to track consumer experiences and items to store data for popular products among customers. In addition, the intelligent display mirror also records customers’ purchase history, preferences and more.
In addition, there is a risk that the personal data might be transferred to the unintended recipient, which may result in a security breach. The misuse of these professional data is one of the key factors that sustain the growth of the smart display market.
occasions: Increase in demand for advanced smart display applications in healthcare
Advances in intelligent infrastructure across healthcare, such as–Speed communication, intelligent patient facilities and more are influencing the demand for intelligent display technology due to the transmission of real data–temporal content.
In addition, the healthcare smart display solution is designed to provide sophisticated tools needed for fast and efficient communication in all facilities. Hence, the increasing adoption of smart signage devices in the healthcare sector is expected to propel the growth of the smart display market in the coming years.
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Scope of the smart display market
The study categorizes the smart display market based on type, display size, resolution and end–Users at regional and global level.
By type Outlook (Revenue, million USD, 2017–2030)
- intelligent mirror
- home display
By display size Outlook (Revenue, million USD, 2017–2030)
- Under 32 inches
- Between 32 and 52 inches
- Over 52 inches
After resolution outlook (Revenue, million USD, 2017–2030)
Until the end–user outlook (Revenue, million USD, 2017–2030)
- retail trade
- Sports & Entertainment
By Region Outlook (Revenue, million USD, 2017–2030)
- North America (USA, Canada, Mexico)
- South America (Brazil, Argentina, Colombia, Peru, rest of Latin America)
- Europe (Germany, Italy, France, Great Britain, Spain, Poland, Russia, Slovenia, Slovakia, Hungary, Czech Republic, Belgium, Netherlands, Norway, Sweden, Denmark, rest of Europe)
- Asia Pacific (China, Japan, India, South Korea, Indonesia, Malaysia, Thailand, Vietnam, Myanmar, Cambodia, Philippines, Singapore, Australia and New Zealand, Rest of Asia Pacific)
- The Middle East & Africa (Saudi Arabia, United Arab Emirates, South Africa, North Africa, Rest of MEA)
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The signage segment is expected to account for the largest market share by type
The market includes signs, smart mirrors and home displays by type. In 2021, the signage segment made the largest contribution to the market with a market share of 41%.1%. Digital signage has surpassed the traditional viewing experience by providing realistic and compelling media content on a digital display. Also, smart signage technology is used in shopping malls, restaurants, hospitals, universities and other platforms for digital communication and providing refreshing content to promote brand awareness, information and entertainment.
The features like high–High-quality on-screen displays, digital access to the physical display, and integration of automation with marketing create opportunities for smart signage applications. In addition, the smart signage display is widely used in retail, healthcare, transportation and other sectors to improve communication interaction and customer loyalty. The above factors are expected to hamper the market growth of smart display signage types to some extent in the future.
Asia Pacific makes the highest CAGR during the forecast period
By region, the intelligent display market is analyzed in North America and Asia–Pacific, Europe, South America, and the Middle East and Africa. Globally, Asia Pacific is estimated to register the highest CAGR in the global smart display market during the forecast period. The Asia–The Pacific region includes countries like China, Japan, India, South Korea and the rest of Asia–Pacific. Countries like China and Japan were next to benefit–generation of digital technology. In addition, it is the main factor driving the growth of the smart display market across Asia–Pacific is the technological advancement in smart signage and mirror technology of China, Japan, South Korea and others such as digital wall and 8K signage technology, which is expected for the future advancement of smart display technology in this region.
The smart display market in Asia–Pacific is driven by the increasing use of smart signage and mirrored displays in retail, residential and healthcare. Also, the increasing demand for digital communication systems is expected to contribute significantly to the growth of the market during the forecast period. In addition, the high demand for smart home displays and surveillance smart displays in the automotive sector is expected to create opportunities for the smart display market in Asia–Pacific.
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Important market participants
The smart display market is inherently fragmented with many players such as Samsung, Alphabet (Google LLC)Panasonic Corporation, LG Electronics, Japan Display Inc.Alpine Electronics, Sharp Corporation, Leyard Optoelectronic, Sony and Manga International Inc. These players adopt various strategies to gain higher market shares or to hold leading positions in the market.