Smart Display Market Research, 2028
The Smart Display Market size was valued at $3.78 billion in 2020, and is projected to reach at $18.25 billion by 2028, growing at a CAGR of 21.6% from 2021 to 2028.
A smart display is an intelligent digital solution used to be controlled through voice remote devices or with the Internet of Thing (IoT) enabled devices. The smart display application in the automotive and retail sector such as the smart mirror is an innovative technology capable of tracking the user’s personal information and shopper’s experience. Further, smart emerging as an advanced technological solution is adding interactive and advanced controlling features.
Smart display applications utilize technologies such as LED, LCD, and other projections onto the display on a preselected content. A smart display is popularly used across retail, sport & entertainment, and healthcare, owing to surge in demand for next-generation advertising and monitoring technology. Besides, smart display applications such as signage and mirrors are designed to enhance customer shopping experiences, greet customers, and display advertisements in retail stores, which fuels its adoption of machine vision technology in the hospital and clinical sector.
The smart display market is expected to witness growth during the forecast period, owing to rise in demand for artificial intelligence and Internet of Things based smart application in the residential sector due to surge in disposable income in developing countries. Further, the market for smart display is expected to be driven by increase in demand for smart mirror systems in the automotive industry. Moreover, increase in demand for digital advertisement across healthcare, retail, and commercial sectors is expected to boost the demand for smart display. Considering these factors, the smart display market is estimated to experience a steep growth in the future.
By Type
Home Display segment is projected as one of the most lucrative segments.
Rise in number of smart retail stores worldwide and surge in demand for enhanced smart display solutions are expected to offer lucrative opportunity for the growth of the automotive smart display market during the forecast period. However, high risk of data breach and device malfunction acts as a major challenge for this market. Further, surge in adoption of smart home application in the residential sector is opportunistic for the market growth.
By Resolution
UHD Segment holds a dominant position throughout the forecast period.
Key Takeaways
The global market study covers 20 countries. The research includes a segment analysis of each country in terms of value for the projected period.
More than 1,500 product literatures, industry releases, annual reports, and other such documents of major smart display market industry participants along with authentic industry journals, trade associations' releases, and government websites have been reviewed for generating high-value industry insights.
The study integrated high-quality data, professional opinions and analysis, and critical independent perspectives. The research approach is intended to provide a balanced view of global markets and to assist stakeholders in making educated decisions to achieve their most ambitious intent-based networking (IBN) market growth objectives.
Key Market Dynamics
The smart display market is experiencing robust growth driven by increasing consumer demand for interactive and connected devices, advancements in artificial intelligence, and the integration of smart home technologies. Additionally, rising disposable incomes and a growing trend towards remote working and online learning are propelling the adoption of smart displays. Competitive pricing and innovative product offerings from key players are also contributing to smart display market expansion. Furthermore, the rising emphasis on personalization and user-friendly interfaces is enhancing customer engagement, making smart displays increasingly attractive to a wide range of consumers. Sustainable practices and eco-friendly products are also gaining traction, influencing purchasing decisions.
Segment Overview
The smart display market is segmented on the basis of type, resolution, display size, end user and region. On the basis of type, it is fragmented into signage, smart mirror, and home display. The signage segment dominated the market, in terms of revenue in 2019, and is expected to follow the same trend during the forecast period. On the basis of resolution, the market is segregated into UHD, FHD, and HD. The HD segment dominated the market, in terms of revenue in 2019, however, the UHD segment is projected to witness significant market share during the forecast period. By end user, the market is divided into residential, retail, automotive, healthcare, and Sport & Entertainment. The smart display market share of retail segment accounted highest in 2019, and the automotive segment is expected to grow at a high CAGR from 2021 to 2028.
Region wise, the smart display market trends are analyzed across North American (the U.S., Canada, and Mexico), Europe (the UK, Germany, France, Spain, Italy, and rest of Europe), Asia-Pacific (China, Japan, India, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa). APAC is expected to develop at highest rate during the forecast period. APAC, specifically Japan, remains a significant participant in the global supply chain market; organizations in the country are intensely putting resources into the technology; for example, usage of multifunction printing technology for cost-efficient methods.
By Display Size
Between 32 to 52 Inch segment is projected as one of the most lucrative segments.
Regional/Country Market Outlook
North America: The North American smart display market is thriving due to the high penetration of advanced technologies and a strong presence of major tech companies. The United States stands out as the largest country in this region, driven by significant investments in smart home devices and consumer electronics.
Asia-Pacific: In the Asia-Pacific region, the smart display market is rapidly growing, fueled by a rising middle class and increasing urbanization. China leads the smart display market in this region, thanks to its large population, high demand for smart technologies, and strong manufacturing capabilities.
Europe: The European smart display market is evolving as consumers become more tech-savvy and prioritize smart home integration. Germany is the largest country in this region, benefiting from its robust economy and high adoption rate of innovative consumer electronics.
LAMEA: The smart display market in the LAMEA region is gaining traction, driven by increasing smartphone penetration and a growing interest in smart home solutions. Brazil is the largest country in this region, with a rising demand for connected devices and an expanding digital ecosystem.
Top Impacting Factors
Significant factors that impact the growth of the global smart display industry include rapid adoption of artificial intelligence and Internet of Thing enabled smart applications in commercial, residential, and industrial sectors and surge in demand for smart mirror in the automotive industry. However, high risk of customer data breach and device malfunction is acting as a major barrier for early adoption, which hampers the smart display market growth. On the contrary, growth in numbers of smart stores globally is anticipated to provide lucrative opportunities for the smart display market during the forecast period.
By End User
Healthcare segment will grow at a highest CAGR of 25.0% during 2021 - 2028
Competitive Analysis
Competitive analysis and profiles of the major smart display market players such as Samsung, LG Electronics, Alphabet (Google LLC), Panasonic Corporation, Japan Display Inc., Sony, Alpine Electronics, Sharp Corporation, Leyard Optoelectronic, and Manga International Inc. are provided in this report.
By Region
Asia-Pacific would exhibit the highest CAGR of 24.2% during 2021-2028
Report Coverage & Deliverables
This report delivers in-depth insights into the smart display market overview, type, resolution, display size, end user, regions, and major players' key strategies. It offers detailed market forecasts and emerging trends.
Type Insights
The smart display market is segmented into signage, smart mirrors, and home displays, with the signage segment dominating in terms of revenue in 2019. This trend is expected to continue throughout the forecast period due to the increasing demand for digital advertising and information display in public spaces.
Resolution Insights
The resolution segment of the smart display market includes UHD, FHD, and HD, with the HD segment leading in revenue in 2019. However, the UHD segment is projected to gain significant market share during the forecast period as consumers seek higher quality displays for enhanced viewing experiences.
End User Insights
By end user, the smart display market comprises residential, retail, automotive, healthcare, and sports & entertainment sectors. The retail segment accounted for the highest market share in 2019, while the automotive segment is anticipated to grow at a high CAGR from 2021 to 2028, driven by innovations in in-car displays and infotainment systems.
Regional Insights
Regionally, the smart display market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. The Asia-Pacific region, particularly Japan, is expected to develop at the highest rate during the forecast period. Japan plays a significant role in the global supply chain, with organizations heavily investing in technology, including multifunctional displays and smart solutions for various applications.
Key Strategies and Developments
In September 29, 2024 - Apple is reportedly working on a new smart home display that will run on a modified version of tvOS, dubbed “homeOS.” This device aims to integrate seamlessly with Apple’s ecosystem, offering features like FaceTime and smart home controls. The smart display is expected to compete with similar products from Google and Amazon, enhancing Apple’s presence in the smart home market.
In June 2021 - NEC Corporation partnered with Rise Vision (US) to offer schools and higher educational institutes the NEC and Rise Vision display solution for interactive learning. This collaboration aims to enhance the educational experience by providing interactive and engaging content through advanced display technology. The solution includes features like real-time updates and easy integration with existing school systems.
In January 2021 - LG Electronics expanded its presence in the global esports industry by collaborating with Gen.G (Seoul) Esports, one of the biggest esports organizations in South Korea. Both companies will be developing esports internationally with the help of LG Electronics’ ultra-gear gaming monitor. This partnership aims to leverage LG’s advanced display technology to provide a superior gaming experience for esports athletes and fans alike.
Key Benefits For Stakeholders
- This study comprises analytical depiction of the smart display market size along with the current trends and future estimations to depict the imminent investment pockets.
- The overall smart display market analysis is determined to understand the profitable trends to gain a stronger foothold.
- The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
- The current smart display market forecast is quantitatively analyzed from 2019 to 2028 to benchmark the financial competency.
- Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the smart display.
- The report includes the smart display market share of key vendors and smart display market trends.
Smart Display Market Report Highlights
| Aspects | Details |
 By Type |
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 By Display size |
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 By Resolution |
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 By End-use |
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 By Region |
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 Key Market Players | Japan Display Inc. (JDI), LG Electronics Inc., Alpine Electronics, Inc. (Alps Alpine Co., Ltd.), Alphabet Inc. (Google LLC), Sharp Corporation, Sony Corporation, Magna International Inc., Leyard Optoelectronic Co., Ltd., Panasonic Corporation, Samsung |
Analyst Review
Smart display is a digital screen designed to use around the home, retail, and automotive sectors for digital communication, which sometimes also includes a sizable touch screen. Further, the home display devices can be for more than just control but support entertainment, video chats, information videos, and control other smart applications inside homes.
Smart display is popular for use in retail sectors for digital communication and can be programmed, scheduled as per user preferences, especially with set daily routines to display images and videos information. Moreover, smart display application such as home display has advance features such as Bluetooth speaker with screen to make it more user friendly. These devices can be easily installed by consumers and are compatible with wide range of smart electronic appliances.
Globally, various key players are investing in smart display application to make them compatible with various industrial platforms. For instance, Leyard launched a new 216-inch, 8k video wall with 0.6 mm fine pitch suitable for digital communication across retail, healthcare, automotive, and other sectors. In addition, LG Electronics has launched new three series of outdoor LED displays with a pixel compatible of all weathers.
The key players profiled in the report include Samsung, LG Electronics, Alphabet (Google LLC), Panasonic Corporation, Japan Display Inc., Sony, Alpine Electronics, Sharp Corporation, Leyard Optoelectronic, and Manga International Inc.
The Smart Display Market is estimated to grow at a CAGR of 21.6% from 2021 to 2028.
The Smart Display Market is projected to reach $18.25 billion by 2028.
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Factors such as increase in apid adoption of artificial intelligence and Internet of Thing enabled smart applications in commercial, residential, and industrial sectors and surge in demand for smart mirror in the automotive industry
The key players profiled in the report include Samsung, LG Electronics, Alphabet (Google LLC), Panasonic Corporation, Japan Display Inc., Sony, Alpine Electronics, Sharp Corporation, Leyard Optoelectronic, and Manga International Inc and many more.
On the basis of top growing big corporations, we select top 10 players.
The smart display market is segmented on the basis of type, resolution, display size, end user and region.
The key growth strategies of Smart Display market players include product portfolio expansion, mergers & acquisitions, agreements, geographical expansion, and collaborations.
UHD Segment holds a dominant position throughout the forecast period.
Healthcare segment will grow at a highest CAGR of 25% during 2021 - 2028
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