Enjoy complimentary customisation on priority with our Enterprise License!
The smart display market size is forecast to increase by USD 10.38 billion at a CAGR of 20.5% between 2023 and 2028. The market is experiencing significant growth, driven by the increasing number of applications for electronic paper displays (EPDs) in various industries, including transportation, healthcare, and education. Innovations in display technology, such as the integration of touchscreens and voice recognition, are also fueling market expansion. However, the decline in demand for smart displays from the retail sector due to the shift towards online advertising poses a challenge. Despite this, the market is expected to continue its growth trajectory, driven by the adoption of smart displays in emerging applications and the ongoing development of advanced display technologies.
The market is experiencing significant growth due to the increasing adoption of smart devices and AI-powered appliances in homes and businesses. With the proliferation of IoT-enabled appliances and the integration of voice commands and AI assistants, smart displays have become an essential part of the smart home experience. According to recent studies, the number of internet users worldwide is expected to reach 5.3 billion by 2022, driving the demand for advanced smart displays. Smart displays come in various forms, including smart mirrors, interactive kiosks, digital signage, and voice-enabled smart displays. These displays offer advanced features such as energy-efficient appliances, integration with home automation systems, and real-time data analysis.
However, the market faces challenges such as cybersecurity threats, data theft, and customer data breaches. Smart displays are not limited to homes but are also being used in smart cities, housing, and various industries such as retail, healthcare, and education. The integration of smart displays in smart homes and smart cities is expected to revolutionize the way we live and work, making our lives more convenient and efficient. The future of smart displays looks promising, with continuous advancements in display technologies and the integration of more advanced features.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.
The signage segment is estimated to witness significant growth during the forecast period. The Smart Displays market encompasses a range of technologies, including smart mirrors, digital signage, and appliance displays. Smart mirrors, an innovative application of display technologies, integrate Internet connectivity and AI-powered capabilities to provide users with real-time information and personalized experiences. Smart devices, such as voice-controlled Smart Displays and AI assistants, are increasingly being integrated into homes, driven by smart home technologies and home automation. The smart home market is expected to grow significantly due to the increasing smartphone penetration and the demand for device interconnectivity and communication protocols. Digital signage, a key component of the Smart Displays market, offers numerous advantages over traditional printed signage.
It facilitates customer interaction through voice commands and programmatic advertising, providing personalized experiences based on shopping behavior and consumer-specific advertisements. Retailers can deploy smart signage in windows and stores to attract customers and upsell products using real-time data and information. Smart Home Displays and Interactive Kiosks are also gaining popularity in various industries, including healthcare, education, and hospitality, for video conferencing and advanced functionalities. Display Technologies, such as OLEDs, LCDs, LEDs, and plasma display panels, are used to create these smart systems, along with glass and hardware, software, and voice-controlled capabilities. However, concerns around data theft and customer data breaches remain, necessitating strong security measures and interconnectivity standards.
In summary, the Smart Displays market is poised for significant growth due to the increasing adoption of smart home technologies, IoT-enabled appliances, and AI-powered devices. Digital signage, a key application area, offers numerous advantages, including customer interaction, personalized experiences, and real-time data dissemination. The market is expected to witness continued innovation and growth in the coming years, driven by advancements in display technologies and the increasing demand for smart and interactive devices.
Get a glance at the market share of various segments Request Free Sample
The signage segment accounted for USD 1.10 billion in 2018 and showed a gradual increase during the forecast period.
North America is estimated to contribute 34% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
For more insights on the market share of various regions Request Free Sample
In North America, the market for smart displays is experiencing significant growth due to the region's advanced infrastructure and consumer preference for the latest technology. Smart displays, including voice-enabled models and those with touch control, are increasingly popular in both residential and commercial applications. In housing and smart home sectors, energy-efficient appliances and connected devices, such as smart speakers and AI-enabled systems, are driving demand for smart displays that enhance the overall smart home experience. However, the integration of smart displays into transportation hubs and smart cities also presents opportunities, as these systems can offer real-time information, voice control, and smart security features.
Further, the consumer electronics industry is embracing cloud computing and machine-learning capabilities to develop more advanced smart displays, which can provide personalized experiences and improve cybersecurity. The adoption of smart displays in various sectors, from retail to healthcare, is expected to continue, as they offer numerous benefits, including improved productivity, enhanced user experience, and increased energy efficiency. Despite the advantages, the integration of smart displays also poses cybersecurity threats, and manufacturers must prioritize security features to ensure user privacy and data protection.
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Increasing number of applications of electronic paper displays (EPDs) is the key driver of the market. Smart Displays, a subset of Electronic Paper Displays (EPDs), have experienced notable growth in various applications due to the increasing adoption of smart devices and IoT-enabled appliances. These advanced displays are integral to smart home technologies and home automation, with voice commands and AI assistants facilitating device interaction. However, concerns regarding data theft and customer data breaches persist, necessitating interconnectivity standards and communication protocols. EPDs, with their reflective feature and energy efficiency, have become a preferred choice for smart signage and smart stores. Programmatic advertising and personalized experiences are key benefits, influencing shopping behavior and driving retail solutions. Side-view Display Mirrors and Smart Appliance Displays are prime examples of these applications.
Moreover, integration with advanced smart displays, such as Smart Home Displays and Smart Signage Displays, enhances functionality. Display Technologies and Smart Systems continue to evolve, incorporating glass and hardware, software, and voice-controlled capabilities. These developments underscore the potential of EPDs in various industries, including digital signage, video conferencing, and interactive kiosks.
Innovations in display technology is the upcoming trend in the market. The global market for smart displays has witnessed significant advancements in technology, with innovations in OLED and MicroLED delivering superior contrast ratios, vibrant colors, and energy efficiency. Samsung, a key player in display technology, has introduced groundbreaking innovations in its smart displays. For instance, the Neo QLED series incorporates Quantum Mini LED technology, providing precise control over individual light zones for enhanced contrast and brightness. This results in a visual experience for users. Smart displays are not limited to home entertainment; they are also being integrated into various sectors such as retail and communication. Smart signage and interactive kiosks are becoming increasingly popular, offering programmatic advertising, personalized experiences, and real-time data analysis.
In the smart home market, voice-controlled smart displays enable home automation and integration with AI-powered appliances and IoT-enabled devices. However, concerns around data theft and customer data breaches persist, necessitating interconnectivity standards and communication protocols. Advanced smart displays offer consumer-specific advertisements based on shopping behavior and retail solutions. Side-view display mirrors, smart appliance displays, and video conferencing displays are other applications of smart displays. The future of smart displays lies in their ability to seamlessly integrate with other smart systems and offer interactive experiences. Display technologies continue to evolve, with glass and hardware, software, and voice control enhancing the functionality of smart displays.
The decline in demand for smart displays from retail sector due to shift to online advertising is a key challenge affecting market growth. The market is witnessing significant growth due to the increasing adoption of smart mirrors, IoT-enabled appliances, and AI-powered devices in homes and businesses. With the rise in smart home technologies and home automation, voice commands and AI assistants have become commonplace. However, concerns regarding data theft and customer data breaches persist, necessitating interconnectivity standards and communication protocols. Smart Displays, including advanced models with voice-controlled capabilities, are revolutionizing industries such as retail and digital signage. These displays offer personalized experiences through programmatic advertising, consumer-specific advertisements, and shopping behavior analysis. Retail solutions, such as smart stores and interactive kiosks, are leveraging smart displays to enhance the shopping experience.
Further, display Technologies, including side-view display mirrors and display panels, are evolving with the integration of glass and hardware, software, and voice control. Smart Home Displays and Smart Signage Displays are transforming communication in various sectors, from video conferencing to advertising. As the market for smart devices continues to expand, the demand for advanced smart displays is expected to increase. In summary, the market is experiencing strong growth due to the increasing penetration of smart home technologies, the popularity of AI-assisted devices, and the integration of voice control and programmatic advertising. Despite concerns regarding data security, the benefits of smart displays, such as personalized experiences and improved communication, are driving their adoption across various industries.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The market research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market is experiencing significant growth due to the increasing adoption of smart devices and AI-powered appliances in homes and businesses. With the proliferation of IoT-enabled appliances and smart home technologies, home automation and voice commands have become the new norm. The market is driven by the increasing smartphone penetration and the availability of advanced smart displays, including voice-controlled models. However, concerns around data theft and customer data breaches remain a challenge. Smart displays are being used in various applications such as smart mirrors, interactive kiosks, digital signage, and side-view display mirrors. These displays are integrated with various communication protocols and interconnectivity standards to ensure seamless interoperability with other smart systems.
Further, the market is also witnessing the adoption of programmatic advertising and personalized experiences based on shopping behavior and consumer-specific advertisements. The market is expected to grow further with the integration of video conferencing and advanced smart displays in smart homes and smart stores. The use of display technologies, glass and hardware, and software in smart displays is also a key trend in the market. Despite the opportunities, challenges such as device malfunctioning and the need for standardization of communication protocols remain. The market is expected to continue its growth trajectory, driven by the increasing demand for interactive and personalized experiences in various industries.
|
Market Scope |
|
|
Report Coverage |
Details |
|
Page number |
171 |
|
Base year |
2023 |
|
Historic period |
2018 - 2022 |
|
Forecast period |
2024-2028 |
|
Growth momentum & CAGR |
Accelerate at a CAGR of 20.5% |
|
Market Growth 2024-2028 |
USD 10.38 billion |
|
Market structure |
Fragmented |
|
YoY growth 2023-2024(%) |
20.1 |
|
Regional analysis |
North America, APAC, Europe, South America, and Middle East and Africa |
|
Performing market contribution |
North America at 34% |
|
Key countries |
US, China, South Korea, Germany, and UK |
|
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
|
Key companies profiled |
Advantech Co. Ltd., Alphabet Inc., Amazon.com Inc., Avocor Group, Hisense International Co. Ltd., Hitachi Ltd., InFocus, Innolux Corp., Japan Display Inc., Lenovo Group Ltd., Leyard Group, LG Electronics Inc., Panasonic Holdings Corp., Promethean World Ltd., Samsung Electronics Co. Ltd., Sharp Corp., Sony Group Corp., TCL Electronics Holdings Ltd., ViewSonic Corp., WINSTAR Display Co. Ltd, and Xiaomi Communications Co. Ltd. |
|
Market dynamics |
Parent market analysis, market growth inducers and obstacles, market forecast, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, market condition analysis for the forecast period |
|
Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Get the report (PDF) sent to your email within minutes.
Get lifetime access to our
Technavio Insights
Quick Report Overview:
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.
