Global Smart Display Market Size and Share Outlook - Forecast Trends and Growth Analysis Report (2024-2032)

Smart Display Market Analysis

An increase in research and development efforts, a growing focus of market participants on creating improved smart displays with added features, and an increase in the number of smart stores are anticipated to add to the market revenue. Further advancements in the technology of smart displays are likely to heighten its applications across end-users, particularly to aid in customer relations and retention in directly customer-facing industries.  The growth of the smart display market is fuelled by the healthcare sector to show patients and visitors maps and directions to the facility and share updates about patient health and treatment is also surging the market for smart displays.

The increase in demand for digital advertisements across healthcare, retail, and commercial sectors is expected to boost the demand for smart displays. The rise in the number of smart retail stores worldwide and the surge in demand for enhanced smart display solutions are expected to offer lucrative opportunities for the growth of the market during the forecast period. The market is also expected to be driven by an increase in demand for smart mirror systems in the automotive market.

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Smart Display Market Trends

Increased Innovations in the Market

The market for smart displays is expected to witness substantial growth during the forecast period, owing to the rise in demand for smart-technology applications in the residential sector. For instance, Amazon's Echo Show series offers features such as hands-free voice control, remote access, and privacy-focused options, all of which have received favourable reviews from users. As per the smart display market dynamics and trends, Samsung's SmartThings platform integrates smart displays with a range of IoT devices to deliver a seamless user experience. These advancements cater to consumers' needs for convenience, energy efficiency, and enhanced home security.

Growing demand for portable LCD displays, touch screens, and voice command devices has also increased the number of smart home appliances, which further increases the market growth for smart displays. For instance, Amazon's Echo Show series and Google's Home Hub feature voice-command capabilities and touch screens, making home automation more convenient.

Rising Prevalence of AI Technology

The smart display demand is predicted to expand significantly throughout the forecast period, with an increase in the number of smartphones around the world and rising disposable incomes. AI-powered smart screens can lead to significant investments in the market because of their uses in smart homes for managing lights, fans, security cameras, TVs, and other devices. The incorporation of AI-powered assistants like Amazon Alexa and Google Assistant has transformed smart displays into versatile hubs that can manage various smart home devices. This development provides users with hands-free functionality and proactive insights into their daily routines.

Increased demand for complex features in consumer electronics applications is also expected to boost the market. Companies like Samsung and LG have leveraged AI and IoT to enable personalised and predictive features in their smart displays, improving their functionalities for tasks such as energy management and home security.

Industry News

September 2024

Apple announced that it aims to launch new smart displays within the HomePod series next year. These displays will contain a more affordable version equipped with a FaceTime camera and gesture recognition capabilities.

June 2024

Samsung has introduced its newest range of smart displays for 2024, which includes the Odyssey OLED G8 and G6 monitors. These monitors are equipped with high-end OLED technologies, such as Samsung’s OLED Safeguard+ to prevent burn-in and FreeSync Premium Pro to enhance gaming performance.

Opportunities in Smart Display Market

Transparent OLED technology is becoming increasingly popular, particularly in commercial and retail environments. These displays feature a sleek, modern design, making them perfect for stores, offices, and exhibitions, where they can present engaging content while still allowing visibility through the screen. Beyond their visual appeal, this technology serves practical purposes, such as interactive retail displays that convey product information without blocking the view and can enhance smart display market value.

One of the recent innovations from LG Display, highlighted at CES 2024, shows that these screens can reach transparency levels of up to 45%, providing bright, vivid images while improving energy efficiency, which is attractive to environmentally conscious consumers and businesses. LG also introduced the LG SIGNATURE OLED T, the world's first wireless transparent OLED TV. This 77-inch 4K model integrates transparency with wireless video and audio transmission through LG's Zero Connect Box, facilitating an organised installation.

Smart Display Market Restraints

The advanced technology found in smart displays, such as OLED and MicroLED, significantly contributes to their higher prices. For consumers, this means that premium smart displays are much more expensive than traditional ones. These pricing trends can limit widespread adoption, particularly in markets where affordability is crucial such as in developing countries in Asia Pacific, which can affect the smart display demand forecast. Additionally, manufacturers face challenges in balancing the integration of high-end features with keeping prices reasonable, which could hinder broader acceptance among consumers.

Another challenge is the lack of standardisation and compatibility across different smart display platforms. Many smart displays are designed to operate within specific ecosystems, for instance, Amazon Alexa or Google Assistant, which limits their ability to work together seamlessly. This fragmentation can affect the interest of customers who are looking for a unified experience across devices as well as potential buyers who prefer more flexible and interoperable solutions.

Market Dynamics

The market is experiencing growth due to the incorporation of AR and advancements in display technologies, including LED and OLED. These innovations enable smart displays to provide more interactive and visually captivating experiences, which are gaining popularity in the retail and healthcare sectors. For example, retail environments are increasingly relying on smart displays equipped with AR features to improve customer interaction through immersive shopping experiences, which can boost smart display demand growth. Furthermore, the demand for flexible and foldable displays is expected to rise, driven by their potential uses in consumer electronics and automotive infotainment systems.

For example, the Apple Vision Pro is equipped with dual MicroOLED displays that provide r experience with HIGH pixel density. This MicroOLED technology is also used by brands such as Sony and Samsung, known for their production of small, high-brightness displays that are perfect for transparent AR applications. These displays enhance user immersion and are developed to be lightweight and compact, making them especially well-suited for wearable AR and VR devices.

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Smart Display Industry Segmentation

“Smart Display Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:

A smart display is a digital solution that may be operated using voice remotes or Internet of Things (IoT) devices. They are internet-enabled devices that can act as an integrated display screen for digital assistants or other devices.

By type, the market is divided into:

• Signage
• Home display
• Smart Mirror

Based on display size, the market is categorised into:

• Below 32 inches
• Between 32 and 52 inches
• Above 52 inches

On the basis of resolution, the market is classified into:

• FHD
• HD
• UHD

Based on end use, the market is segmented into:

• Automotive
• Residential
• Retail
• Healthcare
• Sport and Entertainment

Market Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Smart Display Market Share

By Type Insights

Smart signage holds the highest smart display market share due to its widespread use in commercial settings such as retail, hospitality, and corporate environments. The popularity of smart signage is driven by its ability to deliver real-time information and facilitate interactive customer engagement, making it essential for applications like digital advertising and wayfinding in public spaces.

The rapid expansion of smart home displays is also driven by the rising prevalence of connected home devices. These devices enable users to manage a range of smart home features, such as lighting and security systems, via a unified display interface.

By Display Size Insights

The size range of 32 to 52 inches holds the largest market share and boosts the growth of the smart display industry. This category is particularly popular in both residential and retail settings, often found in applications such as smart home systems and interactive displays. Its broad appeal is due to its versatility and the improved viewing experience it offers in spaces that benefit from larger screens, such as living rooms, retail displays, and interactive kiosks in commercial environments, among others.

By Resolution Insights

Full High Definition (FHD) generally holds the largest share in the smart display market as FHD displays are widely used in both residential and commercial environments because they offer an ideal combination of resolution quality and cost-effectiveness, making them suitable for various devices such as home displays, digital signage, and smart mirrors. In contrast, HD resolutions are primarily found in more budget-friendly products that meet basic visual quality needs, but they are less prevalent in the market compared to FHD.

By End Use Insights

The retail sector boosts the smart display market expansion as retailers have widely adopted smart displays to enhance customer engagement through interactive digital signage that showcases promotions, product information, and instructional content. These displays create an engaging shopping experience, which is becoming more crucial as physical stores compete with online shopping platforms. The rising demand for digital advertising and interactive solutions in public spaces has driven the incorporation of smart displays in retail environments.

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Smart Display Market Regional Insights

North America Smart Display Market Trends

In North America, the increasing demand for smart displays is driven by the robust infrastructure and consumer inclination towards advanced technology. The smart display market revenue is further bolstered by the incorporation of smart displays into smart home ecosystems, allowing for centralised management of various household functions, such as lighting, security, and entertainment. The region enjoys substantial investments from major technology companies, including Google, Amazon, and Apple, in the development of smart home devices. Furthermore, government efforts to integrate smart displays into public infrastructure, including airports and train stations, are promoting their use across commercial industries.

Asia Pacific Smart Display Market Outlook

The Asia Pacific market for smart displays is expected to develop at the highest rate during the forecast period, owing to the high adoption of smart displays in automobiles and home appliances. As per the smart display industry analysis, the presence of various small and medium-scale retailers in the region has contributed to the region's growth in the market. Asia Pacific is also home to a number of major players in the market. In regions such as China and India, the demand for smart displays is anticipated to rise exponentially across residential and automotive sectors, further driving the market's growth.

Europe Smart Display Market Growth

The growth of the market in Europe is fuelled by the rising integration of smart mirrors within the automotive sector, alongside a significant focus on energy-efficient devices. Countries such as Germany, the United Kingdom, and France are leveraging smart displays for digital signage across sectors like retail, healthcare, and transportation, thereby enhancing smart display industry revenue. Additionally, Europe is experiencing an increase in smart city initiatives that use smart displays to provide real-time information in public areas, further boosting demand.

Middle East and Africa Smart Display Market Drivers

Continuous economic expansion, significant technical advancements, more retail space, a broad base of consumers, improved standards of living, and a shift in the lifestyles of consumers have prompted shops in the MEA region to install smart signage solutions in order to boost sales. These firms are focusing on product innovation and investment in introducing their products, in order to get a competitive advantage and get more smart display market opportunities.  Countries like the UAE and Saudi Arabia are increasingly implementing smart displays across various sectors, including healthcare, retail, and public infrastructure. Additionally, there is notable growth in smart home solutions in the region, which include displays that use AI to improve home automation experiences.

Latin America Smart Display Market Dynamics

The growth of the market in Latin America is primarily fuelled by advancements in the retail sector and an increase in investments in smart home technologies. Countries such as Brazil and Mexico are witnessing a rise in the use of smart signage in shopping malls and retail stores, enhancing customer engagement and providing innovative advertising options, which can aid the demand of smart display market. Furthermore, the increasing demand for voice-enabled displays for both commercial and residential applications is contributing to the market's expansion.

Innovative Startups in Smart Display Market

Startups are advancing the development of holographic microchips and virtual display monitors. For example, some companies are utilising diffractive photonics to create ultra-high-resolution holographic displays, ideal for immersive experiences such as virtual meetings. On the other hand, other new companies are developing virtual monitors which offer a panoramic field of view that could replace traditional multi-monitor setups.

Swave Photonics

Swave Photonics, based in Belgium, focuses on developing holographic microchips for ultra-high-resolution 3D displays, leveraging advanced diffractive photonics technology. These displays are suitable for various immersive settings, such as virtual meetings, gaming, and augmented reality, enhancing visual realism and facilitating better remote collaboration.

BRELYON

The startup, based in the United States, offers virtual display monitors that provide a wide panoramic view with true optical depth, reducing eye strain during prolonged use. Their innovative technology is aimed at users who need large display areas, including professionals in gaming, design, or trading, with the potential to replace multiple monitor setups with a single immersive display.

Competitive Landscape

The report gives a detailed analysis of the following key players in the global smart display market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds. Several market players are focusing on integrating AI-driven features, such as voice recognition and advanced sensors, to boost user engagement and deliver personalised experiences in smart home settings. For instance, some companies are allowing users to turn on the display without requiring voice commands in their smart displays.

Key Industry Players

Alpine Electronics, Inc.

Alpine Electronics, founded in 1967, is a Japanese company specialising in premium automotive audio and navigation systems. Initially created as a joint venture between Alps Electric and Motorola, the company gained recognition for its groundbreaking advancements in in-car audio technology.

Alphabet Inc.

Alphabet Inc., established in 2015, is the parent company of Google and operates as a conglomerate with an emphasis on technology and innovation. Based in California, the United States, Alphabet manages a varied portfolio that includes Google's primary internet services.

Japan Display Inc.

Japan Display Inc., created in 2012 through a partnership between Sony, Toshiba, and Hitachi, with support from the Innovation Network Corporation of Japan, is dedicated to developing high-end display technologies. Its focus is primarily on mobile devices, automotive displays, and wearable technology.

Other major players in the market are Leyard Optoelectronic Co., Ltd., LG Electronics Inc., Samsung Electronics Co. Ltd., Sony Group, Panasonic Corporation, Amazon.com, Inc., and Gentex Corporation, among others.

The comprehensive EMR report provides an in-depth assessment of the smart display market based on the Porter's five forces model along with giving a SWOT analysis.

Recent Developments

January 2024

At CES 2024, Panasonic announced its newest OLED smart TV models, the Z95A and Z93A, which come with built-in Fire TV. These TVs will allow users to control smart home devices, stream a wide range of content, and use Alexa for voice commands.

January 2024

Amazon announced the launch of the Matter Casting feature for its Echo Show 15 and Fire TV devices, enabling users to effortlessly cast content from their iOS or Android devices to these smart displays.