Enjoy complimentary customisation on priority with our Enterprise License!
The smart display market size is projected to increase by USD 10.38 billion, at a CAGR of 20.5% between between 2023 and 2028. The growth rate of the market depends on several factors, including the increasing number of applications of electronic paper displays (EPDs), the increasing adoption of smart displays in numerous service sectors, and the increasing adoption of smart homes. A smart display is a touchscreen device that is integrated with voice recognition and connectivity features, which makes it capable of displaying information and interacting with users. Smart displays are often used in smart home devices like smart speakers; they provide a visual interface for providing information related to weather updates and calendar events and for video calling. Smart displays can also control other connected devices and serve as hubs for smart home automation.
The report includes a comprehensive outlook on the market, offering forecasts for the industry segmented by Type, which comprises signage, mirror, and home display. Additionally, it categorizes Application into residential and commercial, and covers Regions, including North America, APAC, Europe, South America, and Middle East and Africa. The report also includes an in-depth analysis of drivers, market trends and analysis, and challenges, and provides market size, historical data spanning from 2018 to 2022, and future projections, all presented in terms of value in USD billion for each of the mentioned segments.
For More Highlights About this Report, Download Free Sample in a Minute
Increasing adoption of smart displays in numerous service sectors is the key factor driving market growth. In sectors like retail, hospitality, healthcare, and education, smart displays offer versatile solutions that enhance user engagement, communication, and operational efficiency. In the retail sector, smart displays are utilized for interactive digital signage, enabling personalized customer experiences, dissemination of product information, and efficient queue management.
In addition, healthcare facilities are leveraging smart displays for patient engagement, digital signage, and communication. Smart displays aid in streamlining the flow of information, educating patients, and communicating with staff. In the education sector, smart displays are transforming classrooms by enabling interactive learning, digital collaborations, and dynamic presentations. Thus, the increasing adoption of smart displays in the above-mentioned service sectors will fuel the growth of the market during the forecast period.
The growth of rugged IoT devices in the industrial sector is the primary trend shaping market growth. Rugged IoT devices that are designed to withstand harsh industrial environments require specialized displays to ensure durability and reliability in demanding conditions. In industrial settings, smart displays play a crucial role in providing real-time visualization, monitoring, and control of data. With the emergence of Industry 4.0 and the proliferation of IoT devices in the manufacturing and logistics industries, the need for smart, rugged displays that can withstand extreme temperatures, moisture, vibrations, and potential impacts has grown substantially.
Furthermore, in logistics and transportation, smart, rugged displays are employed in vehicles and terminals for tracking, route optimization, and monitoring cargo conditions. These displays ensure visibility and reliability in challenging environments, enhancing operational efficiency and safety. As the industrial sector increasingly adopts rugged IoT display solutions for improved automation and connectivity, the demand for smart ruggedized displays is expected to grow, which will propel market growth during the forecast period.
Interoperability issues associated with smart displays is a challenge that affects market growth. As smart displays become central hubs in smart homes, ensuring seamless integration with a diverse ecosystem of smart devices is essential. The lack of standardized communication protocols and compatibility across different manufacturers can hinder the user experience and impede the growth of the market in focus. Further, consumers often face frustrations when trying to connect smart displays with devices from various brands, leading to a fragmented and disjointed smart home experience.
Moreover, incompatibility issues can arise in areas such as connectivity, control, and data sharing, limiting the full potential of interconnected smart devices. Thus, failure to address interoperability issues could inhibit the widespread adoption of smart displays in connected living spaces and may impede market growth during the forecast period.
The market share growth by the signage segment will be significant during the forecast period. The signage segment comprises display units such as OLEDs, LCDs, light-emitting diodes (LEDs), plasma display panels, front and rear projection screens, media players, and set-top boxes. Digital signage offers numerous advantages over traditional printed signage as it facilitates customer interaction, offers accurate and centralized control capability, and provides superior design capability.
Get a glance at the market contribution of various segments Download the PDF Sample
The signage segment showed a gradual increase in the market share of USD 1.10 billion in 2018. Furthermore, numerous retailers are employing digital signage to assist their customers in shopping experiences. The highest market share of the segment is due 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, Panasonic, and LG. With incumbent technological advances such as big data and AI in the software segment, the market share of the signage segment is expected to decrease during the forecast period.
The demand for smart displays in the residential application segment of the market is experiencing a notable increase due to several factors that enhance convenience, connectivity, and overall home automation. One primary driver is the rising adoption of smart home technologies, where users seek integrated solutions for managing various aspects of their homes in a centralized manner. Smart displays serve as multifunctional hubs that combine visual interfaces with voice-controlled virtual assistants. Furthermore, as the smart home ecosystem continues to grow and consumers increasingly seek interconnected and intelligent living spaces, the demand for smart displays in the residential segment is expected to persist and evolve, which will drive market growth through the residential segment during the forecast period.
For more insights on the market share of various regions Download PDF Sample now!
North America is estimated to contribute 34% to the growth of the global market during the forecast period.
Technavio's analysts have provided an extensive insight into the market forecast, detailing the regional trends and drivers influencing the market's trajectory throughout the forecast period. North America is highly developed and is home to many new technologies. Consumers in the region are more inclined toward the use of the latest technology products and can easily afford such products. In North America, the number of users of smart devices, such as smartphones and tablets, has increased significantly in the past few years, which, in turn, increased the demand for smart displays in the region.
Additionally, the adoption of smart displays, such as electronic shelf labels and smart cards, is high in the retail segment. Grocery stores, mostly in North America, are witnessing a demand for real-time product positioning systems with accurate label pricing. E-paper and electronic shelf label systems help customers by offering click-and-collect services. Moreover, the high disposable income and increased interest in high-end technology products are factors that are driving the adoption of smart displays in the region. Therefore, such factors are expected to propel regional market growth during the forecast period.
The market forecasting report includes the adoption lifecycle of the market research and growth, 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 and trends strategies.
Global Market 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 growth and forecasting report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
The market analysis and report of 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 research report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018-2028
Smart Display 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, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for forecast period. |
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. |
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 lifetime access to our
Technavio Insights
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.