Smart Display Market to Cross USD 1043.21 Billion by 2030 Driven by Growing Demand for Smart and Connected Home Products

Based on SNS Insider analysis, as more and more consumers adopt smart home devices, there is a growing demand for smart displays that can serve as a central hub for controlling various devices and accessing information.

Pune, May 15, 2023 (GLOBE NEWSWIRE) -- As per SNS Insider, "The Smart Display Market is projected to reach a valuation of USD 1043.21 billion by 2030, after being valued at USD 277.53 billion in 2022, with an anticipated compound annual growth rate (CAGR) of 18% during the forecast period spanning from 2023 to 2030".

Market Report Scope

A smart display is a type of electronic device that integrates a voice-activated virtual assistant and a touchscreen display. These devices are designed to help you manage your daily activities more efficiently by combining the functionality of a smart speaker with the added convenience of a visual display. Smart displays come in various sizes and shapes, but the most common form factor is a tablet-like screen mounted on a stand.

Market Analysis

The rise in the popularity of smart homes has been a major driver of growth in the smart display market. With an increasing number of consumers looking to integrate smart and connected devices into their homes, manufacturers are under pressure to produce products that meet their needs and exceed their expectations. One of the key factors driving the growth of the market is the increasing demand for new functionality. Consumers are looking for displays that can do more than just display information, and are seeking out products that can interact with other devices in their homes. This has led manufacturers to focus on adding new features and capabilities to their products, such as voice assistants, touch screens, and gesture controls.

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Impact of Recession

A recession can have a significant impact on the smart display market, as consumers may be more hesitant to make non-essential purchases during times of economic uncertainty. However, there are also factors that could mitigate the impact of a recession on the market. For example, if consumers are spending more time at home due to economic constraints or remote work, they may be more interested in investing in home entertainment and automation technologies, including smart displays.

Key Regional Development

Smart displays are becoming increasingly popular in the Asia Pacific region, with the region commanding the largest share of the market. This growth is primarily due to the rise in the use of smart signage and mirror displays in various sectors, including retail, residential, and healthcare. The trend towards digital communication systems is also expected to fuel the growth of the market throughout the projection period. One of the key drivers of the smart display market in Asia Pacific is the increasing demand for interactive and visually engaging displays in the retail sector. Smart signage and mirror displays are being widely used by retailers to create immersive shopping experiences that attract and engage customers.

Competitive Landscape:

The players in the Smart Display Market are BOE Technolog, Harman International Industries, Lenovo, Panasonic, ViewSonic, LG Display, Samsung Electronics, Sharp, Innolux, Sony and Other players.

Key Takeaway from Smart Display Market Study

The smartphone segment is well positioned to dominate the market. With their established user base, distribution channels, and supply chains, smartphone manufacturers can leverage their existing resources to produce and sell smart displays more efficiently and cost-effectively.

The OLED displays segment is expected to dominate the market in the coming years. Their superior image quality, wider viewing angle, energy efficiency, and thinness make them ideal for use in smart displays.

Recent Developments Related to Smart Display Market

Google has recently launched its second-generation Nest Hub smart display, which features various new updates and improvements that are sure to please tech enthusiasts and casual users alike. The Nest Hub smart display is a versatile device that acts as a virtual assistant, alarm clock, entertainment center, and even a hub for home automation.

E2ip Technologies, a leading smart display company, has announced that it has raised $120 million in funding. The company, which specializes in advanced displays and touch screens for various industries, including automotive, medical, and consumer electronics, plans to use the funds to expand its production capabilities and further develop its cutting-edge technology.

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Smart Display Market Report Scope:

Report Attributes

Details

Market Size in 2022

US$ 277.53 Billion

Market Size by 2030

US$ 1043.21 Billion

CAGR

CAGR of 18% From 2023 to 2030

Key Segments

• by product (Smartphone, Smart TV, Interactive Kiosks, Digital Signage, Head-Up Display, Smart Wearable)• by technology (TFT, OLED, LCD, TFT-LCD, Others)• by Industry (Automotive, Healthcare, Residential, Commercial, Education, Others)

Regional Analysis

North America (USA, Canada, Mexico), Europe(Germany, UK, France, Italy, Spain, Netherlands,Rest of Europe), Asia-Pacific (Japan, South Korea,China, India, Australia, Rest of Asia-Pacific), TheMiddle East & Africa (Israel, UAE, South Africa,Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)

Company Profiles

BOE Technolog, Harman International Industries, Lenovo, Panasonic, ViewSonic, LG Display, Samsung Electronics, Sharp, Innolux, Sony and Other players.

Marekt Drivers

• Emergence of Wi-Fi connectivity and high-speed broadband connections.• Increasing demand for interlink automobiles, security, and comfort.

Table of Contents

1. Introduction

2. Research Methodology

3. Market Dynamics

4. Impact Analysis

4.1 COVID-19 Impact Analysis

4.2 Impact of Ukraine- Russia war

4.3 Impact of ongoing Recession

5. Value Chain Analysis

6. Porter's 5 forces model

7. PEST Analysis

8. Smart Display Market Segmentation, by Product

9. Smart Display Market Segmentation, by Technology

10. Smart Display Market Segmentation, By Industry

11. Regional Analysis

12 Company Profiles

13 Competitive Landscape

14 Conclusion

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