Smart Display Market Global Analysis and Forecast 2021, 2028

The smart display market was valued at US$ 1,443.74 million in 2021 and is expected to reach US$ 11,547.23 million by 2028; it is estimated to register a CAGR of 36.0% from 2022 to 2028.

A smart display is a digital display that can be operated using voice remote devices or Internet of Things (IoT) connected devices. For example, a smart mirror is an innovative device that records the personal information of users and the experience of shoppers in the automobile and retail sectors. Furthermore, as a cutting-edge technical solution, the smart display includes interactive and complex control functions.

High demand for smart mirrors  from the automotive industry, new and innovative features offered by smart mirrors, an increasing number of internet users and growing adoption of smart devices according to consumer preferences, surging demand for AI-powered and IoT-enabled smart home appliances, increasing trend of context-aware signage, and growing adoption of smart signage in the retail sector are the key driving factors driving the smart display market growth.

The growing retail industry is supported by increasing consumer purchasing power. Also, rapidly expanding shopping malls and retail spaces worldwide propel the demand for smart signage solutions to attract passers-by and encourage them to enter the store. As a result, the smart stores are interested in using programmatic advertising to raise brand recognition. Smart signage can also be used as a part of the payment process. Customers can pay using a mobile device instead of standing in a queue for checkout. Several retailers, such as Walmart, Alibaba, Amazon, and Carrefour, have set up smart stores worldwide. They use various smart retail solutions and technologies, such as smart signage, at the smart stores. Retailers worldwide have implemented expansion and partnership strategies to open smarter and cashier-less stores. All these factors are boosting the smart display market size.

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Smart Display Market: Strategic Insights

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Smart Display Market Insights

Presence of Popular Brands

Once the customers get used to a particular brand’s product, they purchase other products from the same brand. Some well-known brands, such as Google; Amazon, Inc.; Bosch; Panasonic; BenQ Corporation; LG Electronics; Lenovo Group, Ltd.; Samsung Corporation; and Sony Corporation, offer various smart display solutions for automobiles, healthcare, residential, and retail industries. These brands effortlessly attract their loyal customers and are a major driving factor for the growth of the smart display market. Brands sometimes promote their products before the launch to create hype among customers. For instance, In March 2022, Xiaomi’s smart display 10 was listed on multiple websites, and the product was launched in April 2022. In January 2022, Google launched its 2nd generation Google Nest Hub smart display in India at US$ 103.24. In June 2021, Amazon launched 2 new smart display products in the Indian market; the Echo show 10 and 5. Thus, the rising popularity of the brands is driving the growth of the smart display market.

Size-Based Market Insights

Based on size, the smart display market is segmented into up to 12 inches, above 12 inches – up to 32 inches, above 32 inches – up to 52 inches, and above 52 inches. Screen sizes vary from manufacturer to manufacturer. While some manufacturers offer higher functionality even in smaller screen sizes, others prefer to vary functionality depending on screen size. The market is primarily driven by growing demand for medium-sized smart signage displays across various verticals globally.

Resolution-Based Market Insights

Based on resolution, the smart display market is segmented into Full High Definition (FHD), Ultra High Definition (UHD), and others. Smart displays with HD resolution are mostly used for residential applications. However, most other applications, such as advertising signage or smart kiosks, increasingly use displays with UHD and FHD resolutions. The market is primarily driven by the growing demand for smart signage displays having better resolution so that the users can enjoy an immersive experience.

The smart display market players adopt strategies such as mergers, acquisitions, and market initiatives to maintain their positions in the market. A few developments by key market players are listed below:

• The NoviSign Android Digital Signage App is currently available for all Sony BRAVIA Professional Android-based displays, according to NoviSign, an industry leader and pioneer in Android Digital Signage. The professional BRAVIA line from Sony supports 4K and HDR, has a system-on-a-chip platform, and comes in sizes ranging from 32 inch to 100 inch.
• BenQ, a leader in interactive display technologies,  joined Google's Integrated Solutions Initiative for Education. BenQ's commitment to providing education solutions that enable schools to construct more resilient active learning environments suited for in-person and distance learning is maintained by joining this effort.

Smart Display Market Regional Insights

The regional trends and factors influencing the Smart Display Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Smart Display Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Smart Display Market Report Scope

Smart Display Market Players Density: Understanding Its Impact on Business Dynamics

The Smart Display Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

Major Companies operating in the Smart Display Market are:

1. Alphabet Inc.
2. Amazon.com, Inc.
3. LG Electronics
4. LENOVO GROUP LIMITED
5. Magna International Inc

Disclaimer: The companies listed above are not ranked in any particular order.

The global smart display market is segmented based on size, type, resolution, and industry. Based on size, the market is segmented into up to 12 inches, above 12 inches – up to 32 inches, above 32 inches – up to 52 inches, and above 52 inches. In terms of type, the market is segmented into signage, display, and mirror. Based on resolution, the market is segmented into full high definition, ultra high definition, and others. Further, based on industry, the smart display market is segmented into consumer & home appliances, automotive, retail, healthcare, and others.  

Alphabet Inc.; Amazon.com, Inc.; LG Electronics; LENOVO GROUP LIMITED; Magna International Inc; Panasonic Corporation; Sony Corporation; BenQ Corporation; NEXCOM International Co., Ltd.; and Samsung Electronics Co., Ltd. are the key smart display market players considered for the research study. In addition, several other significant market players have been studied and analyzed in this research report to get a holistic view of the global smart display market and its ecosystem.