Smart Display Market to Attain USD 40.32 Billion by 2031, Accompanied by Increase in Demand for Interactive Visual Experiences

Skyquest Technology

Smart Display Market size was valued at USD 3.50 billion in 2022 and is poised to grow from USD 4.59 billion in 2023 to USD 40.32 billion by 2031, at a CAGR of 31.20% during the forecast period (2024-2031).

The global smart display market is thriving, encompassing interactive display technologies with intelligent capabilities. These displays not only display visual information, but they also have voice recognition and touch controls, changing the way customers engage with digital content. Several major factors influence the need for smart displays. Primarily the increasing demand for smart home automation and IoT (Internet of Things) devices has promoted the adoption of smart screens as central control units. Smart displays make houses more convenient and efficient by allowing them to control lighting, temperature, security systems, and other functions. Furthermore, customers are increasingly seeking immersive and interactive visual experiences. Smart displays improve visual content delivery by incorporating high-resolution displays, touchscreens, and augmented reality (AR) features. These displays are used in a range of businesses, including retail, hospitality, and healthcare, to provide personalized and engaging experiences.

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Top Player’s Company Profiles

• Samsung Electronics (South Korea) 
• LG Electronics (South Korea)
• NEC (Japan)
• Sony (Japan)
• Panasonic Corporation (Japan)
• Amazon (United States)
• Apple (United States)
• Facebook (United States)
• Gentex (United States)
• Magna International (Canada)
• Qualcomm (United States)
• Intel (United States)
• Honeywell (United States)
• Lenovo (China)
• Electric Mirror (United States)
• Qisda (Taiwan)
• Alphabet (Google) (United States)
• Leyard Optoelectronic (Planar) (China)
• Robert Bosch GmbH (Germany)
• ALPS Alpine Co., Ltd. (Japan)
• IBM (United States)
• Smart Parking (Australia)
• Dirror (Germany)
• Myra Mirrors (United States)

Voice-Enabled Smart Displays: New Frontier in Smart Display Technology

Voice assistants and AI capabilities are built into smart screens. It lets users to control the device with voice commands such as Amazon Alexa, Google Assistant, or Apple Siri. These voice assistants offer voice search, personalized suggestions, and natural language processing. For instance, Amazon Alexa is integrated with smart displays. Thus, it enables users to control their smart home devices, access information, and even make voice-activated purchases.

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Role of Technology and Strategic Partnerships in Smart Displays

The smart display market is very competitive. It involves numerous large firms competing for market share. Many of them have a substantial market presence and product portfolio. To achieve a competitive advantage, businesses prioritize innovation and cutting-edge technology such as voice recognition, artificial intelligence, and gesture control. Partnerships, collaborations, and strategic acquisitions are common strategies employed by market participants to expand their market presence and product offerings. The competitive climate in the global smart display market is characterized by intense competition and continual technological advancements to fulfill rising customer demands.

Segments covered

Type

OEM Rearview Display Mirror, Aftermarket Rearview Display Mirror, Side-view Display Mirror

Component

Display Panels, Camera & Sensor Modules, Glass & Hardware, Software

Smart Home Display

Voice-controlled/Assistance Smart Display (Display Panels, Hardware Components, Software), and Smart Appliance Display (Display Panels, Hardware Components, Software)

Smart Signage

Application (Retail & Hospitality Facilities, Transportation Hubs & Public Places, Sports & Entertainment Venues, and Others), and Offering (Displays, Media Players, Software Solutions/Platforms, and Services)

Contributions by Key Players

• January 2024: A new smart display called the Galaxy View was introduced by Samsung. It sports a massive 27-inch screen with 4K resolution. This monitor is equipped with smart home management features. The Galaxy View acts as a hub that assists in controlling connected devices and streaming high-definition content.
• September 2023: Amazon’s latest smart display, the Echo Show 15, was released in September 2023. This device features a 15.6-inch Full HD display, advanced voice recognition, and greater Alexa integration for improved smart home control and personalized entertainment suggestions.
• August 2023: Meal planning and cooking experience have become easier with the new line of smart kitchen screen revealed by LG. These screens have several capabilities, including live video training and voice-activated recipes for other smart kitchen gadgets. As a result, this integration intends to improve the culinary experience of ordinary cooking by incorporating innovative technologies.

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Navigating Adoption Trends, Technological Advances, and Market Drivers The Global Smart Display Market is expanding at the fastest rate, driven by a surge in demand for smart homes, an increase in consumer demand for voice-controlled devices, and an expansion in the use of digital signs across several industries. Furthermore, improvements in OLED and LCD technology, as well as the integration of AI and IoT capabilities, propel the industry forward and provide attractive chances for market participants to grow.

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