Smart Display Market Overview Business Status and Industry Trends 2027

The Smart Display Market Report Share is estimated to be USD 2.3 billion in 2022 and expected to reach USD 9.7 billion by 2027, at a CAGR of 33.4% from 2022 to 2027.

High demand for smart mirrors from the automotive industry, new and innovative features offered by smart mirrors, an increasing number of internet users and growing adoption of smart devices according to consumer preferences, surging demand for AI-powered and IoT-enabled smart home appliances, increasing trend of context-aware signage, and growing adoption of smart signage in retail sector are the key driving factors for the Smart Display Market.

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Surging demand for AI-powered and IoT-enabled Smart Home Appliances

The advent of high-speed internet broadband, Wi-Fi, and Bluetooth has broadened the use of smart appliances worldwide. Several companies have seen the potential of the successful adoption of smart home technologies. Hence, they have developed smart devices enabling home automation. The increased penetration of smartphones has facilitated the use of smart home devices with the push of a button. Further, with the growth in the number of smartphone users worldwide, the smart home market is expected to witness a major boost during the forecast period. AI-powered smart displays can lead to tremendous investment due to their applications in smart homes for controlling lights, fans, security cameras, TV, and so on.

Smart home displays to witness a higher CAGR during the forecast period.

Most of the smart home device and solution providers are shifting away from traditional practices towards advanced technologies. Smart devices offer many advantages, such as reduced energy consumption and effective management of devices, over traditional devices. Players offering consumer electronics are also capitalizing on the rising demand for connected devices and solutions by increasing investments in the Smart Device Market. The increased investment is also expected to have a positive impact on the growth of the Smart Home Display Market in the near future. Moreover, AI- and IoT-based devices have recently gained traction owing to their convenience and ease of use.

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APAC to grow with highest CAGR during the forecast period

The Smart Display Market in APAC has high growth potential, primarily driven by strong economic growth, rising population, and rapid urbanization leading to the demand for sophisticated infrastructure. The market is expected to record the highest CAGR during the forecast period owing to the rising demand for automation in a large number of new and existing residential projects, increasing retail space, and growing automotive industry in the region.

The report profiles key players in the Smart Display Market and analyzes their market shares. Players profiled in this report are  Amazon (US), Samsung Electronics (South Korea), Alphabet (Google) (US), Apple (US), LG Electronics (South Korea), NEC Corporation (Japan), Panasonic Corporation (Japan), Leyard Optoelectronic (Planar) (China), Sony (Japan), Facebook (US), Magna International (Canada), and Gentex (US), Qualcomm(US), Intel(US), Honeywell(US), Lenovo(Hong Kong), Electric Mirror(US), Qisda Corporation(Taiwan), Robert Bosch(Germany), Alps Alpine(Japan), IBM(US), Smart Parking (Australia), Oak Labs(US), Dirror(Germany) and Myra Mirrors (US)

News Covered:

https://www.prnewswire.com/news-releases/smart-display-market-worth-9-7-billion-by-2027--exclusive-report-by-marketsandmarkets-301479557.html

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