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Smart Display Market 2024 Report By Key Companies, Regional Analysis And Forecast 2033
Smart Display Market
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According to The Business Research Company's, The smart display market size has grown exponentially in recent years. It will grow from $4.84 billion in 2023 to $6.26 billion in 2024 at a compound annual growth rate (CAGR) of 29.3%. The growth in the historic period can be attributed to rise of smart homes, evolving entertainment consumption, increased healthcare applications, gaming consoles and interfaces, energy efficiency.
The smart display market size is expected to see exponential growth in the next few years. It will grow to $17.75 billion in 2028 at a compound annual growth rate (CAGR) of 29.7%. The growth in the forecast period can be attributed to flexible and foldable displays, focus on privacy and security, environmental sustainability, advancements in haptic feedback, automotive infotainment. Major trends in the forecast period include augmented and virtual reality integration, blockchain integration, integration with ai and machine learning, wearable technology connectivity, advancements in touchscreen technology.
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Market Drivers and Trends:
The increasing residential sector is expected to propel the growth of the smart display market going forward. The residential sector refers to the portion of the real estate market that is dedicated to housing, specifically for private individuals and families. Smart displays contribute to a more connected and intelligent home environment, offering a wide range of features that enhance daily living, home security, provide real-time information, home automation integration, and enable homeowners to monitor and control energy consumption. For instance, in October 2023, according to the United States Census Bureau, a US-based principal agency of the federal statistical system, the number of privately owned housing units approved by building permits in February was 1,524,000 on a seasonally adjusted yearly basis. This is 13.8% more than the January rate, which was corrected to 1,339,000. Therefore, the increasing residential sector is driving the growth of the smart display market.
Technological advancement is a key trend gaining popularity in the smart display market. Major companies operating in the smart display market are developing innovative products with advanced technologies to strengthen their position in the smart display market. For instance, in June 2022, Sharp Canada, a Japan-based manufacturer of electronic products, launched a smart display Aquos Board. It is available in 3 different sizes 85.6 inches, 74.5 inches, and 64.5 inches. The unique features of the new technology boards are sharp's precision touch and zero bonding technology combined with an intuitive Pen-on-Paper user experience, true 4K reading and writing, and a selection of smart interactive displays.
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• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
Major Key Players of the Market:
Visteon Corporation, Samsung Electronics Co. Ltd., LG Display Co. Ltd., Continental Automotive GmbH, Panasonic Corporation, Leyard Optoelectronic Co. Ltd., Sony Corporation, Sharp Corporation, Robert Bosch GmbH, BOE Technology Group Co. Ltd., Alpine Electronics Inc., Lenovo Group Limited, Xiaomi Corporation, NEC Corporation, ViewSonic Corporation, Apple Inc., Microsoft Corporation, Google LLC, TCL Corporation, Hisense Group Co. Ltd., Skyworth Digital Holdings Limited, Koninklijke Philips N.V., Vizio Inc., Hitachi Ltd., InFocus Corporation, BenQ Corporation, Elo Touch Solutions Inc., Planar Systems Inc., Avnet Inc., Mitsubishi Electric Corporation.
Smart Display Market 2024 Key Insights:
• The smart display market size is expected to see exponential growth in the next few years. It will grow to $17.75 billion in 2028 at a compound annual growth rate (CAGR) of 29.7%.
• Rising Internet User Numbers Fueling Surge In Smart Display Market Growth
• Innovative Technological Advancements Propelling Growth In The Smart Display Market
• North America was the largest region in the smart display market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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