Comprehensive Smart Display Market Analysis 2024: Size, Share, And Key Trends
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033
As per The Business Research Company’s Smart Display Global Market Report 2024, the smart display market is expected to show significant growth in the forecast period.
The smart display market has witnessed unprecedented growth in recent years, with projections indicating a substantial surge in the coming years. From 2023 to 2024, the market size is expected to leap from $4.84 billion to $6.26 billion, boasting a remarkable compound annual growth rate (CAGR) of 29.3%. This exponential expansion can be attributed to various factors that have reshaped the technological landscape, including the rise of smart homes, evolving entertainment consumption patterns, increased healthcare applications, and advancements in gaming consoles and interfaces.
The Current Landscape: Market Dynamics
- The smart display market has experienced exponential growth, reaching $4.84 billion in 2023.
- This growth is fueled by factors such as the rise of smart homes, evolving entertainment consumption, increased healthcare applications, and advancements in gaming consoles and interfaces.
Future Projections: A Technological Odyssey
- Forecasts suggest that the smart display market will continue its upward trajectory, reaching $17.75 billion by 2028, with a CAGR of 29.7%.
- Anticipated growth drivers include the advent of flexible and foldable displays, heightened focus on privacy and security, emphasis on environmental sustainability, advancements in haptic feedback, and innovations in automotive infotainment systems.
Emerging Trends: Shaping the Future
- Major trends in the forecast period encompass augmented and virtual reality integration, blockchain integration, synergy with AI and machine learning technologies, connectivity with wearable devices, and advancements in touchscreen technology.
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Rising Internet User Numbers Fueling Surge In Smart Display Market Growth
- The proliferation of internet users worldwide is expected to drive the growth of the smart display market.
- As of November 2022, approximately 4.9 billion people, constituting 63% of the global population, were internet users.
- Smart displays amalgamate the functionalities of smart speakers with touchscreen capabilities, catering to the evolving needs of internet users.
- Key players in the smart display market include Visteon Corporation, Samsung Electronics Co. Ltd., LG Display Co. Ltd., and others.
Innovative Technological Advancements Propelling Growth In The Smart Display Market
- Technological advancements play a pivotal role in the expansion of the smart display market.
- Companies are investing in research and development to introduce innovative products equipped with advanced technologies.
- For instance, Sharp Canada launched the Aquos Board, featuring precision touch technology and true 4K reading and writing capabilities.
- In September 2022, AUO Display Plus acquired Rise Vision to bolster its digital signage solutions, particularly targeting the education sector.
Market Segmentation: A Comprehensive Overview
The smart display market is segmented based on various parameters, including type, resolution, display size, and end-user industries:
- By Type: Smart Display Mirror, Smart Home Display, Smart Signage
- By Resolution: Ultra High Definition(UHD), Full High Definition(FHD), High Definition(HD)
- By Display Size: Below 32 Inch, Between 32 and 52 Inch, Above 52 Inch
- By End User: Residential, Retail, Automotive, Healthcare, Sports And Entertainment
Regional Insights: North America Leading the Way
- North America emerged as the largest region in the smart display market in 2023, showcasing significant potential for market expansion and innovation.
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The Smart Display Global Market Report 2024 provides an in-depth analysis on the smart display market size, trends and drivers, opportunities, strategies, and companies analysis. The countries covered in the smart display market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
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