Smart Display Global Market Report 2024

The global smart display market has grown exponentially in recent years. It will grow from $4.84 billion in 2023 to $6.26 billion in 2024 at a compound annual growth rate (CAGR) of 29.3%. The historical growth can be credited to the emergence of smart home technology, evolving entertainment preferences, expanded applications in healthcare, advancements in gaming consoles and interfaces, and a growing focus on energy efficiency.

The global smart display market is expected to see exponential growth in the next few years. It will grow to $17.75 billion in 2028 at a compound annual growth rate (CAGR) of 29.7%. The projected growth is expected to be driven by the development of flexible and foldable displays, an increased emphasis on privacy and security features, a focus on environmental sustainability, advancements in haptic feedback technology, and the evolution of automotive infotainment systems. Major trends anticipated in the forecast period involve integration with augmented and virtual reality, blockchain, artificial intelligence, and machine learning, enhanced connectivity with wearable technology, and ongoing advancements in touchscreen technology.

The growth of the smart displays market is expected to be propelled by the increasing number of internet users globally. Internet users, accessing the Internet via various devices, are a key demographic benefiting from smart displays. These devices integrate the functionalities of smart speakers, like Google Home or Amazon Echo, with a touchscreen interface, enhancing user experience for activities such as watching videos. As of November 2022, the International Telecommunication Union reported that approximately 4.9 billion people, constituting 63% of the world's population, were using the internet in 2021. This surge in internet users is a significant driver for the growth of smart displays.

Another contributing factor to the expansion of the smart display market is the growing residential sector. The residential sector encompasses the real estate market dedicated to private housing for individuals and families. Smart displays play a crucial role in creating connected and intelligent home environments, offering features that enhance daily living, home security, real-time information access, home automation integration, and energy consumption monitoring and control. In October 2023, the United States Census Bureau reported a substantial increase in privately owned housing units approved by building permits, reaching 1,524,000 on a seasonally adjusted yearly basis. This represents a 13.8% growth compared to the previous month, indicating a rising trend in the residential sector, contributing to the smart display market's growth.

A key trend in the smart display market is technological advancement. Major industry players are actively developing innovative products embedded with advanced technologies to strengthen their market positions. In June 2022, Sharp Canada, a leading Japanese manufacturer of electronic products, introduced the Aquos Board smart display. Available in three different sizes - 85.6 inches, 74.5 inches, and 64.5 inches - these smart displays feature Sharp's precision touch and zero bonding technology. The boards deliver an intuitive Pen-on-Paper user experience, true 4K reading and writing capabilities, and a selection of smart interactive displays. This commitment to technological innovation reflects the industry's focus on delivering cutting-edge solutions to meet the evolving demands of consumers in the smart display market.

Leading companies in the smart display market are directing their focus towards innovative products like smart mirrors to drive revenue growth. Smart mirrors are technologically enhanced mirrors that offer functionalities beyond traditional reflection. For example, in February 2022, Israel-based technology company MySize Inc. introduced an AI interactive smart mirror. This smart mirror utilizes a camera to project various virtual elements onto a screen, serving as an educational and entertaining tool in public areas. Equipped with features such as gesture detection, touchpad integration, and voice recognition, customers can interact with virtual assistants and access a wide range of information and services seamlessly during their daily routines.

In a strategic move, Taiwan-based AUO Display Plus, operating in industrial and commercial display solutions, acquired Rise Vision in September 2022. Rise Vision, a Canada-based cloud-based digital signage software company, specializes in smart display solutions. The acquisition is part of AUO Display Plus's expansion strategy in the Software as a Service (SaaS) domain, particularly in digital signage solutions. This move is expected to broaden AUO Display Plus's presence in the education sector, showcasing a commitment to innovation and comprehensive offerings in the smart display market.

Major companies operating in the smart display market report are Visteon Corporation, Samsung Electronics Co. Ltd., LG Display Co. Ltd., Continental Automotive GmbH, Panasonic Corporation, Leyard Optoelectronic Co. Ltd., Sony Corporation, Sharp Corporation, Robert Bosch GmbH, BOE Technology Group Co. Ltd., Alpine Electronics Inc., Lenovo Group Limited, Xiaomi Corporation, NEC Corporation, ViewSonic Corporation, Apple Inc., Microsoft Corporation, Google LLC, TCL Corporation, Hisense Group Co. Ltd., Skyworth Digital Holdings Limited, Koninklijke Philips N.V., Vizio Inc., Hitachi Ltd., InFocus Corporation, BenQ Corporation, Elo Touch Solutions Inc., Planar Systems Inc., Avnet Inc., Mitsubishi Electric Corporation.

North America was the largest region in the smart display market in 2023. The regions covered in the smart display market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the smart display market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary types of smart displays include smart display mirrors, smart home displays, and smart signage. Smart display mirrors are two-way mirrors with electronic displays behind the glass, showcasing various informational widgets such as weather updates, time, date, and news. These displays come in varying resolutions like UHD, FHD, and HD, and sizes categorized below 32 inches, between 32 and 52 inches, and above 52 inches. The diverse user base comprises residential, retail, automotive, healthcare, and sports and entertainment sectors.

This report provides Smart displays market statistics, including Smart displays industry global market size, regional shares, competitors with a Smart displays market share, detailed Smart displays market segments, market trends and opportunities, and any further data you may need to thrive in the Smart displays industry. This Smart displays market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The smart display market consists of sales of all-in-ones (AIOs) displays, LED video wall displays, large-format interactive flat panel displays (IFPDs), smart boards, and projectors. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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