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Smart Display Market Trends That Will Shape the Next Decade: Insights from Innovative Technological Advancements Propelling Growth In The Smart Display Market
Smart Display Market
How Large Will the Smart Display Market Size By 2025?
The industry for smart displays has seen a massive increase in size in the past few years. We're anticipating an increase from $6.18 billion in 2024 up to $7.83 billion in 2025, equating to a compound annual growth rate (CAGR) of 26.8%. The substantial growth in the previous can be credited to the emergence of smart homes, changes in the way we consume entertainment, expanded uses in healthcare, the popularity of gaming consoles and interfaces, and enhancements in energy efficiency.
How Big Is the Smart Display Market Size Expected to Grow by 2029?
The market for smart displays is projected to see a significant increase in size over the coming years. By 2029, the market is expected to expand to a value of $21.95 billion, with a compound annual growth rate (CAGR) of 29.4%. Various factors are set to contribute to this growth during the forecast period, including developments in flexible and foldable displays, a heightened focus on privacy and security, commitment to environmental sustainability, and innovations in haptic feedback and automotive infotainment. Prominent trends predicted for this period encompass the integration of augmented and virtual reality, blockchain, artificial intelligence, and machine learning, as well as connectivity with wearable technology and progress in touchscreen technology.
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Which Key Market Drivers Powering Smart Display Market Expansion and Growth?
A surge in the global number of internet users is predicted to fuel the expansion of the smart displays market in future. Internet users are defined as individuals who use the internet from any location via devices such as computers, smartphones, personal digital assistants, gaming consoles or televisions. Smart displays are devices that combine the functions of smart speakers such as Google Home or Amazon Echo with the added convenience of a touchscreen for video consumption. Data compiled in 2022 by the International Telecommunication Union (ITU), a United Nations agency based in Switzerland, demonstrates that internet usage expanded to an estimated 5.3 billion users, equating to roughly 66% of the global population in 2022. This represented a growth of 6.1% compared to 2021. Accordingly, the sharp rise in internet usage is a significant driving force behind the growth of the smart displays market.
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What Long-Term Trends Will Define the Future of the Smart Display Market?
The rise in technological innovation is a significant trend emerging in the smart display market. Many leading corporations in this market are producing inventive products with top-tier technology to fortify their market position. In June 2022, for example, Sharp Canada, an enterprise based in Japan that manufactures electronics, introduced a smart display named Aquos Board, offered in three distinct sizes: 85.6 inches, 74.5 inches, and 64.5 inches. This innovative technology board's distinctive attributes include Sharp's precise touch and zero bonding technology, an interactive Pen-on-Paper user experience, true 4K reading and writing ability, as well as a variety of smart interactive displays.
What Are the Emerging Segments in the Smart Display Market?
The smart display market covered in this report is segmented -
1) By Type: Smart Display Mirror, Smart Home Display, Smart Signage
2) By Resolution: Ultra High Definition(UHD), Full High Definition(FHD), High Definition(HD)
3) By Display Size: Below 32 Inch, Between 32 And 52 Inch, Above 52 Inch
4) By End User: Residential, Retail, Automotive, Healthcare, Sports And Entertainment
Subsegments:
1) By Smart Display Mirror: Interactive Mirrors, Fitness Mirrors, Vanity Mirrors
2) By Smart Home Display: Smart Speakers With Screens, Control Panels For Home Automation, Video Doorbells With Displays
3) By Smart Signage: Digital Menu Boards, Interactive Kiosks, Advertising Displays
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Who Are the Global Leaders in the Smart Display Market?
Major companies operating in the smart display market are 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., BenQ Corporation, Elo Touch Solutions Inc., Planar Systems Inc., Mitsubishi Electric Corporation.
Which are the Top Profitable Regional Markets for the Smart Display Industry?
North America was the largest region in the smart display market in 2024. The regions covered in the smart display market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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