Smart Display Market

Global Smart Display Market Size (2024 to 2032)

The global smart display market was valued at USD 2.27 billion in 2023. The global market is estimated to grow at a CAGR of 36% from 2024 to 2032 and be worth USD 36.13 billion by 2032 from USD 3.09 billion in 2024.

Smart Display is a display that features a touchscreen, easy-going keyboard, portable functions, etc.; they are used in various applications such as smartphones, computers, laptops, video game consoles, home security systems, and so on. The increase in the demand for these smart displays is because of the excellent features they offer. Smart Displays are way too intelligent and can be controlled by simple voice commands and remote devices with the help of the IoT (Internet of Things) and AI (Artificial Intelligence). Smart Display is a solution that allows most manufacturers to add some interactive features that attract buyers to their products in the market. They can also merge some advanced features in their products. The benefits that smart display offers are one of the primary reasons for the growth of the Smart Display Market. Smart Display is a touchscreen device that can enable its users to share, connect, and interact with another connected device. It is also used to communicate as a monitor for web surfing and other activities. These smart displays have a wide range of portfolios in terms of their application, which includes the automotive, residential, commercial, education, and healthcare industries, among others. 

The rise in the trend of digitalization enabled the conversion of a conventional home to a smart house by using technologies like IoT (Internet of Things), AI (Artificial Intelligence), etc. The simplification of applying integrating smartness to houses made end-users show interest in them. The digitalization trend is growing among people day by day. This is raising the demand for gadgets like smart speakers, smart lights, etc., which need a display to use them with ease. And the competition between the big brands made these products cheaper and more agile to attract consumers. Amazon, one of the leading companies that manufacture smart displays, had no competition till 2017. However, because of the success of the ecosystem that Amazon offered, brands like Google LLC, Lenovo, Facebook, and Samsung came to the market. These factors are fuelling the growth of the Smart Display Market. The upsurge in demand for smart mirrors in the automobile industry is one of the critical factors for the rise in Smart Display Management. The need for safety and a secure feel in the automotive industry is growing every day. Also, the element of comfort and luxury makes the manufacturer willing to integrate these smart displays in the vehicles they manufacture. They are used for many applications in the automotive industry, like showing the temperature, controlling the infotainment, and multimedia in a car, which is one of the standard features now in almost every vehicle. Nowadays, smart displays are also used to display the speedometer and tachometer to add to the coolness factor. Also, because of the need for connected cars in the future, these smart displays are going to play a significant role. 

REPORT COVERAGE

SEGMENTAL ANALYSIS

By End-User Insights

The automotive industry is going to be one of the active areas for the smart display market. This is mainly due to the use of these smart mirrors in multiple applications in the automotive industry, which are replacing the traditional rear and side-view mirrors. These applications can be used to increase the safety factor and are also comfortable to apply for the consumer. Not only smart mirrors but also many other applications in the automotive industry, like infotainment systems, displaying the temperature of the air conditioning system, and even displaying speedometers, tachometers, and fuel gauges, are boosting the growth of the smart display market in the automotive industry.

The retail segment is going to witness massive growth because of the competition that retail stores are having with online shopping. To attract customers to their stores, retailers would bring these displays to showcase their products and their offerings as advertisements. Factors like improving the customer's shopping experience a bit better are some of the key factors that will make this smart display business shine in the retail segment.

REGIONAL ANALYSIS

It is expected that the North American smart display market is going to hold a significant share in the forecast period. The adoption of advanced technology is growing day by day in countries like Canada and the US. The rise in their revenue is one of the reasons for this market's growth in the North American region. In addition, demand for consumer electronics is increasing because of the comfort and ease of living that they offer in this region.

Asia-Pacific (APAC) smart display market is an excellent opportunity for the growth of this business, owing to the presence of the largest smart display manufacturers in Japan, China, and Taiwan. It is followed by Europe, which is the home to luxury carmakers like BMW, Mercedes-Benz, Audi, Volkswagen, and Daimler in Germany and Volvo in Sweden.

KEY MARKET PLAYERS

Companies playing a key role in the global smart display market include Amazon, Benq, Hitachi Ltd., Panasonic Corporation, LG Signature, Samsung Electronics Co. Ltd., Boxlight Corporation, Vivo, Nexcom International Co. Ltd. and John Deere.

RECENT HAPPENINGS IN THE MARKET

• BenQ, a Taiwan-based company, has announced its new display with a 240Hz refresh rate. BenQ is saying that the Display they are going to launch has a very low-motion blur, which we have not seen yet. Not only the 240Hz refresh rate but also the addition of DyAc+ (Dynamic Accuracy Plus) technology that they have developed for their future products is also one of the reasons for the decrease in the motion blur. The technology, DyAc+, can also be used instead of Adaptive-Sync. 
• Google recently introduced Google Home Hub, which has a feature called Ambient EQ, which is a combination of a dedication sensor and imaging algorithm that tunes displays' color and brightness. 
• Boxlight Technologies, a US-based company, and Central Technologies are selected as approved providers of interactive panel displays for Shelby County Schools, one of the largest public school districts in the United States. It is said that Procolor Interactive Flat Panel Display is at the top of the product list from vendor-submitted proposals. Boxlight Technology manufactures these displays with its subsidiary, Mimio.

MARKET SEGMENTATION

This research report on the global smart display market has been segmented and sub-segmented based on the touch panel type, technology, product type, end-user, and region.

By Touch Panel Type

• Resistive
• Capacitive

By Technology

• OLED
• TFT-LCD
• Others

By Product Type

• Smart Wearables
• Smart Televisions
• Smartphone
• Others

By End-User

• Residential
• Automotive
• Sports & Entertainment
• Retail
• Hospitality
• Others (Corporate and Banking Sector)

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa