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The smart display market share is expected to progress at a CAGR of 20.27% and reach an estimated value of USD 7.13 billion from 2021 to 2026. One of the key highlights of this report is the valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches.
The smart display market research report extensively covers market segmentations by the following:
The smart display market report also offers information on several market vendors, including Alphabet Inc., Amazon.com Inc., Baidu Inc., Gentex Corp., Hitachi Ltd., Lenovo Group Ltd., LG Corp., Meta Platforms Inc., NEC Corp., Panasonic Corp., Samsung Electronics Co. Ltd., Sharp Corp., Shenzhen Leyard Opto Electronic Co. Ltd., Sony Group Corp., ViewSonic Corp., and WINSTAR Display Co. Ltd. among others.
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The increasing number of applications of electronic paper displays (EPDs) is notably driving the smart display market growth, although factors such as decline in demand for smart displays from retail sector due to shift toward online advertisement may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the smart display industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Smart Display Market Driver
One of the key factors driving the global smart display industry growth is the increasing number of applications of electronic paper displays (EPDs). EPD is considered to be a perfect display medium for both outdoor and indoor applications. Digital signage is used in various applications, including traffic signs, displays in retail outlets, and displaying passenger information. An EPD is also an energy-efficient medium, which makes it suitable for its various application. They have also found applications in devices, such as smartwatches, refrigerators, and washing machines. EPDs are used in e-readers and mobile phone screens. The major reason for the use of EPDs in a variety of applications is because of their ability to be made into any shape for different applications. Thus, the extensive use of EPDs in various sectors, including automotive, transportation, and enterprises will drive the market growth in the forecast years.
Key Smart Display Market Trend
Innovations in display technology is one of the key smart display market trends that is expected to impact the industry positively in the forecast period. The size of the displays has been increasing, and their thickness is reducing. Displays are increasingly adopting higher resolution standards, with manufacturers employing BT.2020 standards for UHDTV. Furthermore, the adoption of quantum dots led to the development of quantum dot LED displays. Other innovations in display technology include the introduction of haptics technology in display systems. This will enable users to feel the texture on the touchscreen along with watching the content on the screen.
Such innovation will lead to the development of highly immersive smart display applications in the coming years.
Key Smart Display Market Challenge
One of the key challenges to the global smart display industry growth is the decline in demand for smart displays from retail sector due to the shift toward online advertisement. Consumers are spending more time online as compared to before. Thus, digital advertising has become increasingly popular in recent years. Furthermore, the increasing penetration of Internet availability has fueled immense growth in digital advertising. The increased online advertising spending by large firms such as Facebook and Google is a major factor in the increased use of online advertising. For instance;
In addition, mobile phones and tablets are being equipped with more personalized services that can help in identifying potential customers for advertisement purposes. Thus, the adoption of online advertainment will negatively impact the market in focus in the coming years.
This smart display market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
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35% of the market's growth will originate from APAC during the forecast period. China and South Korea are the key markets for smart displays in APAC. Market growth in this region will be faster than the growth of the market in other regions. North America is another potential market for smart displays.
The significant increase in the number of users of smart devices, such as smartphones and tablets will facilitate the smart display market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
In 2020, the outbreak of COVID-19 in the region hampered the growth of the global smart display market. As a result, business owners were reluctant to order new digital signage boards or even replace the older ones with modern digital boards. However, the majority of the US population has been vaccinated. It is expected that by the end of 2022, retail outlets, supermarkets, food joints, and other commercial units will return to normalcy and might reach pre-COVID-19 levels of footfall. This would help the market align itself on a growth trajectory. Hence, during the forecast period, the market in focus in North America is expected to grow at a moderate rate.
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The smart display market share growth by the signage segment will be significant during the forecast period. The growth of the segment is attributed to the increase in demand for larger panels and ultra-narrow bezel video walls with high resolution and low power consumption. This led to the launch of new and innovative displays by vendors such as Samsung Electronics Co. Ltd., Panasonic Corp., and LG Electronics Inc.
This report provides an accurate prediction of the contribution of all the segments to the growth of the smart display market size and actionable market insights on post COVID-19 impact on each segment.
Technavio categorizes the global smart display market as a part of the global electronic equipment and instruments market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the smart display market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the smart display market encompasses successful business strategies deployed by the key vendors. The smart display market is fragmented and the vendors are deploying growth strategies such as investments in R&D to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The smart display market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the smart display market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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Smart Display Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2021 |
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Forecast period |
2022-2026 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 20.27% |
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Market growth 2022-2026 |
$ 7.13 billion |
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Market structure |
Fragmented |
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YoY growth (%) |
19.7 |
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Regional analysis |
North America, APAC, Europe, Middle East and Africa, and South America |
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Performing market contribution |
APAC at 35% |
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Key consumer countries |
US, China, South Korea, Germany, and UK |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
Alphabet Inc., Amazon.com Inc., Baidu Inc., Gentex Corp., Hitachi Ltd., Lenovo Group Ltd., LG Corp., Meta Platforms Inc., NEC Corp., Panasonic Corp., Samsung Electronics Co. Ltd., Sharp Corp., Shenzhen Leyard Opto Electronic Co. Ltd., Sony Group Corp., ViewSonic Corp., and WINSTAR Display Co. Ltd. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Type
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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