Canada Display Market Overview, 2029

Canada Display Market Overview, 2029

The Canadian display market includes both standard displays and the rapidly growing category of smart displays. This amazing development trajectory is being driven mostly by the growing use of smart home technology across the country. Smart displays act as simple central hubs for managing connected gadgets in the home, giving consumers seamless integration and more control over their surroundings. Canadian consumers place a high priority on user-friendly technology, especially in the context of smart homes. They value goods that work smoothly with existing systems and devices, increasing convenience and usability. However, security issues loom big for many Canadians, with some voicing reservations about the possible privacy hazards linked with smart home systems. Another important factor to consider when navigating the smart home landscape is vendor lock-in, which occurs when consumers become wedded to a specific ecosystem of products. Canada's display market is significantly reliant on imported display panel components. This reliance on external sources exposes the market to potential supply chain disruptions, which can have a substantial influence on manufacturing costs and, as a result, consumer prices. The vulnerability to disruptions emphasises the significance of diversifying supply chains and improving local manufacturing capabilities in order to offset the risks associated with external reliance. Addressing these difficulties is critical to maintaining the stability and competitiveness of Canada's display sector in the face of changing global dynamics.

According to the research report “ Canada Display Market Overview, 2029,"" published by Bonafide Research, the Canada Display market was valued at more than USD 2.5 Billion in 2023. Several main forces are propelling the expansion of smart displays in Canada.Increased smart home adoption rates, driven by a desire for more convenience and efficiency, are noteworthy. Government actions to promote the adoption of smart technologies help to expedite this trend.There is an increasing desire for user-friendly interfaces that make it easier to manage connected devices at home. However, obstacles exist in the sector. The lack of defined protocols can lead to vendor lock-in, reducing compatibility and interoperability among different products. Privacy concerns, such as data security and potential breaches, also impede mainstream adoption of smart displays. In Canada, compliance with international safety and certification requirements is critical for electronic equipment, especially smart displays. While there are currently no special rules governing smart screens, general safety and electromagnetic interference requirements do apply. This regulatory system guarantees that products entering the Canadian market fulfil high safety and quality standards, giving consumers peace of mind about their purchases.

The display market can be segmented based on various factors, including panel size, display type, display technology, application, and industrial vertical. In terms of panel size, displays can range from microdisplays, which are small and often used in devices like VR headsets and smart glasses, to large panels, which are expansive screens utilised in settings such as conference rooms and outdoor advertising displays. Display types encompass flat panel displays, flexible panel displays, and transparent panel displays, each offering distinct features and applications. Display technology further diversifies the market, with options like LCD, OLED, Micro-LED, and Direct-View LED, each providing unique advantages in terms of image quality, energy efficiency, and durability. Application-wise, displays find use in smartphones, tablets, TVs, digital signage, PCs, laptops, vehicle displays, and more, catering to a wide range of consumer and commercial needs. Finally, industrial verticals such as consumer electronics, retail, BFSI, healthcare, automotive, and military and defence drive demand for displays tailored to specific requirements within each sector. By segmenting the display market along these lines, manufacturers and stakeholders can better understand the diverse needs of consumers and industries, enabling targeted product development and marketing strategies to meet evolving demands and preferences.

The smart display market is expected to provide significant growth prospects for manufacturers and retailers alike. With the increasing integration of smart technology into homes, smart displays have grown popular among consumers looking for increased convenience and connectivity. These gadgets offer a variety of functions, including schedule management and smart home device control, making them appealing additions to modern households. For manufacturers, this represents a significant opportunity for innovation and income growth. Meanwhile, shops will benefit from the increased demand for smart displays, which can increase foot traffic and sales. In terms of commerce, Canadian government tools provide easily accessible data, enabling informed decision-making and strategic planning for enterprises operating in or trying to enter the market. Established participants in the smart display market bring decades of experience and technological skill to the table, establishing them as powerful competitors in the market. Furthermore, new companies specialising in smart home technologies are developing, profiting on the increased need for networked gadgets. These players provide new perspectives and innovations to the market, adding to its energy and competitiveness. As competition heats up, collaboration and strategic alliances between established firms and startups might influence the future landscape of the smart display market.

The display market in the United States is larger and more developed than its rivals. Despite its maturity, the US market follows similar patterns as other regions, particularly in the adoption of smart displays. This suggests that consumer choices and technology progress are becoming more similar across boundaries. However, Mexico's display market is growing, but at a slower rate than Canada's. One major distinction is the difference in smart house adoption rates between Mexico and Canada. While Canada has higher levels of adoption, Mexico lags behind, indicating varied levels of technological integration and consumer behaviour across North America. These patterns highlight the necessity of recognizing regional differences and preferences when navigating the display industry landscape. The COVID-19 pandemic has had a significant impact on the display industry, with both positive and negative outcomes. On the one hand, additional time spent at home owing to lockdown measures is likely to have boosted demand for smart displays as customers sought ways to improve their home entertainment and connectivity experiences. However, the pandemic exposed vulnerabilities in global supply systems, resulting in temporary interruptions to display production costs and price. Navigating these issues needs agility and resilience, as organisations must adjust to shifting market conditions while prioritising safety and operational continuity. The pandemic's lessons highlight the significance of strengthening supply chains and using technology developments to reduce future risks and uncertainties in the display market.

Considered in this report
• Historic year: 2018
• Base year: 2023
• Estimated year: 2024
• Forecast year: 2029

Aspects covered in this report
• Display market Outlook with its value and forecast along with its segments
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

By Panel Size
• Micro displays
• Small & Medium-sized Panels
• Large Panels

By Display type
• Flat Panel Display
• flexible Panel Display
• Transparent Panel Display

By Display technology
• LCD
• OLED
• Micro-LED
• Direct-View LED
• Others

By Application
• Smartphone and Tablet
• Smart Wearable
• Television and Digital Signage
• PC and Laptop
• Vehicle Display
• Others

By Industrial Vertical
• Consumer Electronics
• Retail
• BFSI
• Health care
• Automotive
• Military and defence
• Others

The approach of the report:
This report consists of a combined approach of primary and secondary research. Initially, secondary research was used to get an understanding of the market and list the companies that are present in it. The secondary research consists of third-party sources such as press releases, annual reports of companies, and government-generated reports and databases. After gathering the data from secondary sources, primary research was conducted by conducting telephone interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this; we have started making primary calls to consumers by equally segmenting them in regional aspects, tier aspects, age group, and gender. Once we have primary data with us, we can start verifying the details obtained from secondary sources.

Intended audience
This report can be useful to industry consultants, manufacturers, suppliers, associations, and organizations related to the Display industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing and presentations, it will also increase competitive knowledge about the industry.