Smart Display Market Size Worth USD 22.02 Billion by 2029 | Report by Fortune Business Insights

According to Fortune Business Insights, the global Smart Display Market size is projected to reach USD 22.02 billion by 2029, at a CAGR of 21.0% during the forecast period, 2022-2029

Pune, India, Jan. 17, 2023 (GLOBE NEWSWIRE) — The global smart display market size was valued at USD 5.12 billion in 2021. The market is expected 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. Increasing demand for smart mirrors and touchless operations in the automotive sector is expected to foster market progress. Fortune Business Insights™ shares this information in its report titled “Smart Display Market Forecast, 2023-2029.”

Key Industry Development

Xiaomi, Inc. announced its novel product, smart home display 6. The smart device includes a 2-megapixel camera and microphone to capture instructions quickly.

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Report Scope & Segmentation

Key Takeaways:

• Global demand for smart display in the healthcare sector drives the market.
• Technology Analysis, LED Display is Dominating due to High Demand for Power-efficient Screens
• Smart screens are helping medical professionals to maintain good communication with patients, time management, and medical hygiene’s as the screens are touchless.
• Smart Display Market Size in Asia Pacific was USD 2.72 Billion in 2021.
• Smart signage segment emerges as the highest-growing and is expected to grow with the highest CAGR during the forecast period in 2023-2029

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Drivers and Restraints

• Rising Smart Screens and Display Adoption from the Healthcare Sector to Propel Market Progress
• A smart display is an integrated touchscreen version and connects with high-end home automation systems.
• Increasing smart screens and display adoption from the healthcare sector is estimated to foster market progress.
• Furthermore, the advantage of smart displays in treating patients is likely to surge the product demand. Moreover, rising healthcare investments may elevate the product adoption.
• Rapid technological innovations in medical technology may enhance sales. These factors are likely to boost the smart display market growth.
• However, high prices of the product may hamper market progress.

Segments

LED Segment to Lead Backed by Robust Demand for Power-efficient Screens

By technology, the market is segmented into LED and LCD. The LED segment is expected to lead due to the rising demand for power-efficient screens.

Smart Home Display Segment to Lead Backed by Rising Adoption in Connected Devices

As per type, the market is classified into smart display mirror, smart home display, and smart signage. The smart home display segment is expected to lead due to its rising adoption in connected devices.

Retail Segment to Lead Owing to Rising Adoption of Smart Screens

As per end-user, the market is categorized into smart city, automotive, retail, sports & entertainment, healthcare, and others. The retail segment is expected to dominate due to rising demand for smart screens.

Regionally, the market is grouped into North America, Europe, Asia Pacific, the Middle East & Africa, and South America.

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Regional Insights

Increasing Adoption of Smart Screens to Propel Market Progress in Asia Pacific

Asia Pacific is expected to dominate the smart display market share due to the rising adoption of smart screens. The market in Asia Pacific stood at USD 2.72 billion in 2021 and is expected to gain a huge portion of the global market share in the coming years. Further, incorporating smart screens in smart vehicles will likely boost the industry’s growth.

In North America, the rising adoption of novel technologies in the industrial and residential sectors is likely to boost the adoption of smart screens. Further, the presence of numerous smart facilities in the region is likely to foster market progress.

Competitive Landscape

Major Players Launch Novel Products to Enhance their Brand Image

Prominent companies operating in the market devise novel product launches to enhance their brand image. For example, Lenovo Group Inc. announced its novel Lenovo smart display infused with a smart clock in India in August 2019. The product is powered by Google assistant and simplifies operations in a smart home. This launch may enable the company to reinforce its product offerings and enhance its brand image. Furthermore, major players deploy mergers, research and development, partnerships, acquisitions, and expansions to boost their market position.

List of Key Players Profiled in the Report

• 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)
• Samsung Electronics Co., Ltd. (South Korea)

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Major Table of Contents:

• Global Smart Display Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2018-2029
  • • Key Findings
    • By Technology (USD Bn)
      • LED
      • LCD
    • By Type (USD Bn)
      • Smart Display Mirror
      • Smart Home Display
      • Smart Signage
    • By End-User (USD Bn)
      • Smart City
      • Automotive
      • Retail
      • Sports & Entertainment
      • Healthcare
      • Others
    • By Region (USD Bn)
      • North America
      • Europe
      • Asia-Pacific
      • Middle East & Africa
      • South America
• North America Smart Display Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2018-2029
  • • Key Findings
    • By Technology (USD Bn)
      • LED
      • LCD
    • By Type (USD Bn)
      • Smart Display Mirror
      • Smart Home Display
      • Smart Signage
    • By End-User (USD Bn)
      • Smart City
      • Automotive
      • Retail
      • Sports & Entertainment
      • Healthcare
      • Others
    • By Country (USD Bn)
      • U.S.
      • Canada
      • Mexico

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