Global Smart Display Market to Reach US$ 31.7 Billion by 2032, Impelled by Rising Preference for Smart Homes

May 26, 2022 | Electronics and Semiconductors

According to the latest report by IMARC Group, titled "Smart Display Market Report by Type (Signage, Mirror, Home Display), Display Size (Below 32 Inch, Between 32 and 52 Inch, Above 52 Inch), Resolution (UHD, FHD, HD), End User (Residential, Retail, Automotive, Healthcare, Sports and Entertainment), and Region 2024-2032," the global smart display market reached a value of US$ 7.0 Billion in 2023. A smart display refers to a digital device that is integrated with an advanced technological solution that enables interactive controlling features. It is a wireless voice-activated device that works on Bluetooth and wireless fidelity (Wi-Fi) and is augmented with display screens to enhance its usability. It is mainly utilized for watching informational and entertainment videos, chatting, streaming music, checking the weather and traffic, and connecting with the home security systems for real-time updates. The demand for smart displays is rising due to the easy product availability via online and offline organized channels and the shifting lifestyle preferences of the masses.

Global Smart Display Market Trends:

The global market is primarily driven by the increasing preference for smart and connected home appliances. This has encouraged several leading players to heavily invest in display technology. Besides this, the rising deployment of smart displays in automobiles to offer driver assistance functions, enhanced convenience and comfort is creating a positive market outlook. In line with this, continual technological advancements and the integration of artificial intelligence (AI) and the internet of things (IoT) with smart displays are providing lucrative growth opportunities for key players. Moreover, the widespread adoption of smart displays across cinema halls and shopping malls to provide assistance for wayfinding and booking is positively influencing the market growth. The market is further driven by the growing initiatives for the development and expansion of smart cities. Other factors, including the inflating disposable income levels of the masses, the penetration of high-speed internet connectivity, and extensive research and development (R&D) activities conducted by key players, are also favoring the product demand on the global level. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 31.7 Billion by 2032, exhibiting a CAGR of 17.5% during 2024-2032.

Market Summary:

On the basis of the type, the market has been segmented into signage, mirror and home display.
Based on the display size, the market has been segregated into below 32 inch, between 32 and 52 inch, and above 52 inch.
On the basis of the resolution, the market has been classified into UHD, FHD AND HD.
Based on the end-user, the market has been categorized into residential, retail, automotive, healthcare, and sports and entertainment.
On the basis of the region, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Latin America (Brazil, Mexico and others) and the Middle East and Africa.
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market. Some of these players include BOE Technology Group Co. Ltd., Google LLC (Alphabet Inc.), Hitachi Ltd., Intel Corporation, Lenovo Group Limited, LG Electronics Inc., Qualcomm Incorporated, Samsung Electronics Co.Ltd., Sharp Corporation, Sony Group Corporation, ViewSonic Corporation and Winstar Display Co. Ltd.

Report Scope:

Report Features	Details
Base Year of the Analysis	2023
Historical Period	2018-2023
Forecast Period	2024-2032
Units	US$ Billion
Segment Coverage	Type, Display Size, Resolution, End User, Region
Region Covered	Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered	United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered	BOE Technology Group Co. Ltd., Google LLC (Alphabet Inc.), Hitachi Ltd., Intel Corporation, Lenovo Group Limited, LG Electronics Inc., Qualcomm Incorporated, Samsung Electronics Co.Ltd., Sharp Corporation, Sony Group Corporation, ViewSonic Corporation and Winstar Display Co. Ltd
Customization Scope	10% Free Customization
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Global Smart Display Market to Reach US$ 31.7 Billion by 2032, Impelled by Rising Preference for Smart Homes

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