Smart Display Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Smart Display Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Growth Factors of Smart Display Market

The smart display market size was valued at USD 5.12 billion in 2021, and the market is now projected to grow from USD 5.78 billion in 2022 to USD 22.02 billion by 2029, exhibiting a CAGR of 21.0 % during the forecast period of 2022-2029.

The close down of production plants and disruption in supply chains negatively affected the market growth. The reduced consumer spending on electronics and other non-essential goods had hindered the market growth. Due to the scarcity of raw material and the shortage of workers, manufacturing of the product was slowed down. Thus, the COVID-19 pandemic has created hindrance for the smart display market growth.

The smart display market share globally has been supported due to the increasing adoption of smart screens and displays in the medical sector. The voice-assisted and touchless smart screens are serving medical professionals to maintain communication with patients, time management, and medical hygiene. Benefits, such as a better communication interface and interactive display of the smart screen, improve the medical staff's efficiency. This interactive tool also helps medical staff during critical situations when the number of patients in an emergency room is excessive. It also updates individuals’ information to doctors and keeps records on hospital servers.

The trend is growing utilization of smart mirrors in the automobile sector is boosting the market growth. Since automobile production is becoming modern and high-end, security systems in modern cars and vehicles are also improving. Due to the physical phenomenon of lights, the object in the mirror is closer than its original position. This error is sometimes unsafe for untrained and less skilled drivers. Conversely, the rear view mirrors act as a display screen for parking and reverse cameras of vehicles.

Comprehensive Analysis of Smart Display Market

The smart display market and semiconductor & electronics industry is rising at an exponential rate due to its market segmentation. This market expansion effectively provides a detailed regional assessment considering the dominant supply and demand forces that impact the semiconductor & electronics industry. These segmentations are methodically segregated by technology, type, and end-user. The technology involves LED and LCD. The types are smart display mirror, smart home display, and smart signage. The end-users involve smart city, automotive, retail, sports & entertainment, healthcare, and others.

The Asia Pacific region is conducive to the global smart display market, leading to a recall of USD 2.72 billion owing to increasing use of these devices in a vehicle and city may propel the growth in the regional market.

The top players in the market play a crucial role in the semiconductor & electronics industry assuring industrial prospectus growth and setting market standards. These players include, Amazon.com, Inc.(U.S.), BenQ Corporation (Taiwan), Japan Display Inc. (Japan), LENOVO GROUP LIMITED (Hong Kong), NEC Corporation (Japan), LG Electronics (South Korea), Alpine Electronics, Inc. (Japan), Sony Corporation (Japan), Panasonic Corporation (Japan), and Samsung Electronics Co., Ltd (South Korea), these market players provide a level-playing competitive landscape.

In September 2022, LG Corporation unveiled its new product, LG Smart Monitor 32SQ780S. This device is a 32-inch 4K panel with USB-C connectivity. This device enables home life by offering a remote workstation, home exercising, and various entertainment applications.

Segmentation Table

Global Smart Display Market Scope

ATTRIBUTE DETAILS

Study Period 2018-2029

Base Year 2021

Estimated Year 2022

Forecast Period 2022-2029

Historical Period 2018-2020

Unit Value (USD Billion)

Segmentation By Technology, Type, End-user, and Region

Segmentation By Technology

LED

LCD

By Type

Smart Display Mirror

Smart Home Display

Smart Signage

By End-user

Smart City

Automotive

Retail

Sports & Entertainment

Healthcare

Others

By Region

North America (By Technology, By Type, By End-user & By Country)

U.S. (By End-user)

Canada (By End-user)

Mexico (By End-user)

Europe (By Technology, By Type, By End-user & By Country)

U.K. (By End-user)

Germany (By End-user)

France (By End-user)

Italy (By End-user)

Spain (By End-user)

Rest of Europe (By End-user)

Asia Pacific (By Technology, By Type, By End-user & By Country)

China (By End-user)

India (By End-user)

Japan (By End-user)

South Korea (By End-user)

Rest of Asia Pacific (By End-user)

Middle East & Africa (By Technology, By Type, By End-user & By Country)

GCC (By End-user)

South Africa (By End-user)

Rest of Middle East and Africa (By End-user)

South America (By Technology, By Type, By End-user & By Country)

Brazil (By End-user)

Argentina (By End-user)

Rest of South America (By End-user)

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