The ‘Global Smart Display Market Size, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global smart display market, assessing the market on the basis of its segments like types, display sizes, resolutions, end uses, and major regions.
The key highlights of the report include:
Market Overview (2018-2028)
- Historical Market Size (2022): Over USD 4.59 Billion
- Forecast CAGR (2023-2028): 50%
The smart display market growth is being stimulated by the increasing deployment of smart home technology. Smart displays offer a centralised hub for managing multiple devices, including thermostats, lights, security systems, and entertainment systems. As consumers demand more convenience, control, and connectivity in their homes, the applications of smart displays are likely to continue to increase.
Smart displays’ functionality and user experience have improved as a result of considerable advancements in voice assistants like Amazon’s Alexa, Google’s Assistant, and Apple’s Siri. These voice assistants give customers the ability to do a variety of things, such as set reminders, play music, conduct online searches, and manage connected devices.
The market demand has increased exponentially due to the integration of sophisticated natural language processing and machine learning algorithms in smart displays, which have improved the accuracy and intuitiveness of voice interactions.
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The smart display market development has been favoured by the integration of the Internet of Things (IoT) and artificial intelligence (AI) technologies. Such technologies enable smart displays to learn user preferences, personalise recommendations, and offer information that is pertinent to the context. Additionally, IoT devices in the house can communicate with smart displays to enable smooth automation and synchronisation. Hence, the increased convenience and adaptability greatly enhance the value of this technology.
Industry Definition and Major Segments
A smart display is an integrated version of the touch screen that can be linked with sophisticated automation systems via the internet. Combining the functionality of a traditional display with voice assistants and smart control features, smart displays offer an immersive and convenient user experience. Smart displays have emerged as an integral part of the smart home ecosystem, revolutionising the way we interact with technology.
On the basis of type, the market is segmented into:
- Home display
- Smart Mirror
Based on display size, the market is divided into:
- Below 32 inches
- Between 32 and 52 inches
- Above 52 inches
The smart display market, based on resolution, is divided into:
By end use, the market is categorised into:
- Sport and Entertainment
The major regional markets of smart displays include:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
The implementation of strong security features is a top priority for manufacturers of smart displays due to the growing concerns over data privacy. In order to protect user privacy, features like physical camera coverings, mute buttons, and enhanced encryption algorithms are included. This is one of the most important smart display market trends, in lieu of the stringent privacy regulations set by the governments of various countries.
Increasing smart mirror use in the automotive sector is a burgeoning trend in modern cars and vehicles. Security systems are advancing as the automotive sector becomes more high-end. Thus, high-end automobile manufacturers have begun including rearview mirrors that serve as display screens for parking and reversing.
Drivers can precisely reverse or pass other vehicles with the aid of these display mirrors. By using Google Maps to track the current route, these smart mirrors also assist drivers. These advantages of smart mirrors are significant factors in the global smart display market expansion.
Key Market Players
The major players in the smart display market report include Alpine Electronics, Inc., Alphabet Inc., Japan Display Inc., Leyard Optoelectronic Co., Ltd., and LG Electronics Inc., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
The report studies the latest updates in the market, along with their impact across the market. It also analyses the market demand, together with its price and demand indicators. The report also tracks the market on the basis of SWOT and Porter’s Five Forces Models.
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