Smart Display Market: Unlocking the Potential of a $9.7 Billion Industry


A recent market research report on the Smart Display Market predicts that the sector will grow rapidly over the next several years. The market, which was worth USD 2.3 billion in 2022, is anticipated to rise at an impressive compound annual growth rate (CAGR) of 33.4% to reach USD 9.7 billion by 2027. The paper highlights the increased popularity of smart display mirrors and smart signs in a variety of industries, including retail, hospitality, sports, and entertainment venues, as well as the increasing acceptance of smart home displays, including voice-controlled gadgets and smart appliances. The development of the smart display market is being fueled by these elements as well as improvements in display technology and the rising desire for interactive and connected display solutions.

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

The compound annual growth rate (CAGR) for smart home displays is anticipated to be greater during the forecast period. This can be attributable to the smart home device and solution providers' shifting inclinations towards cutting-edge technologies. When compared to conventional devices, smart devices provide a number of advantages, such as improved energy efficiency and efficient device administration. In order to keep up with the rising demand for linked products and services, consumer electronics businesses are likewise boosting their investments in the smart device sector. The market for smart home displays is anticipated to grow favourably as a result of this increased expenditure. The ease of use and convenience provided by AI and IoT-based gadgets have also gained substantial traction, which has increased demand for smart home displays.

APAC to grow with highest CAGR during the forecast period

During the anticipated period, the smart display market is anticipated to expand at the greatest compound annual growth rate (CAGR) in the APAC region. The region's strong economic growth, rising population, and quick urbanisation, which fuel the demand for cutting-edge infrastructure, are some of the causes of this rise. The demand for smart displays is anticipated to be fueled by the rising automation use in both new and existing residential projects, the expansion of the retail industry, and the booming automotive sector in APAC, all of which are projected to contribute to the market's high CAGR.

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As APAC continues to see rapid economic growth and technological breakthroughs, the region's market for smart displays offers lucrative potential for business participants. APAC is now considered a key growing market in the global smart display industry due to the increasing demand for smart solutions and the integration of cutting-edge technologies in numerous industries.

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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