Guide to Smart Display Market Growth – Global Forecast to 2025

The global smart display market is expected to grow from USD 861 million in 2018 to USD 6,665 million by 2025, at a CAGR of 34.0%. The market has been segmented into 3 separate markets—smart home displays, smart display mirrors, and smart signage.

Smart displays are intelligent solutions that can be controlled through simple voice commands, remote devices, or with the help of IoT connectivity and artificial intelligence. Smart displays are referred to as emerging display applications where manufacturers add interactive and advanced control features to the display devices. This offers new growth opportunities for display panel manufacturers, technology developers, signage solution providers, and OEMs. These devices are emerging use cases of displays and have the potential to revolutionize several applications including home, signage, automotive, and other industries.

Factors such as the success of smart speakers as the gateway to smart home gadgets, availability of multiple voice assistants, and implementation of AI in smart home devices and increasing demand for IoT-enabled smart appliances are driving the global smart home display market. Factors such as new and innovative features offered by smart mirrors, transition from traditional stores to smart stores in the retail industry, and increasing demand for smart display mirrors in the automotive industry are driving the global smart display mirror market. Factors such as increasing demand for context-aware signage and customer data analysis to enable AI-based smart signage are driving the smart signage market.

“Voice-controlled smart home displays to register highest CAGR during forecast period”

The growing success of smart speakers in smart homes has led major companies such as Amazon, Google, Lenovo, LG, and Facebook to develop smart home displays by embedding display panel and voice-controlled capabilities in speaker device. Amazon was the only player in 2017 to launch voice-controlled smart displays, and with the success of smart speakers, several new players such as Google, Facebook, Lenovo, Samsung, and LG Display entered into the market in 2018. With the growing number of players offering voice-controlled smart displays, demand for these displays is expected to boost the market during the forecast period.

Automotive segment to account for largest share in smart display mirror market during forecast period

The automotive segment in the smart display mirror market is expected to account for the largest share through 2025, driven by both aftermarket and OEM-fitted rearview mirrors. The increasing demand from consumers for driving comfort and safety features in cars has created an opportunity for automakers to embed the display panel in the rearview and side-view mirrors. Currently, rearview mirrors are offered in both aftermarket and OEM-fitted cases. For aftermarket, companies such as Xiaomi and Junsun offer rearview display mirrors, while for OEM-fitted case, companies such as Gentex and Magna offer rearview display mirrors. Rearview display mirrors are OEM-fitted in GM, Nissan, Toyota, and Jaguar Land Rover; however, a majority of the smart display mirrors are shipped in the aftermarket segment and a minor portion is in OEM-fitted segment.

Retail and hospitality segment to dominate smart signage market during forecast period

The retail and hospitality segment holds the largest market share due to increasing installation of smart signage in growing number of malls and shopping centers and also due to emerging use cases to improve the guest experience. With the changing strategies in the retail industry to attract customers, context-aware signage/smart signage is becoming a powerful tool in retail spaces. Smart signage makes the experience interactive by showcasing the product and related information, which can reduce the required manpower.

The retail and hospitality segment holds the largest market share due to increasing installation of smart signage in growing number of malls and shopping centers and also due to emerging use cases to improve the guest experience. With the changing strategies in the retail industry to attract customers, context-aware signage/smart signage is becoming a powerful tool in retail spaces. Smart signage makes the experience interactive by showcasing the product and related information, which can reduce the required manpower.

Amazon.com, Inc (Amazon) (US); Google, LLC (Alphabet, Google) (US); Facebook, Inc (Facebook) (US); Samsung Electronics Co., Ltd. (Samsung, Samsung Display) (South Korea); LG Electronics Co. Ltd, (LG Electronics, LG Display, LGD) (South Korea); Sony Corporation (Sony) (Japan); NEC Corporation (NEC Corp., NEC) (Japan); Gentex Corporation (Gentex) (US); Magna International, Inc (Magna Mirror, Magna) (US); and Apple Inc. (Apple) (US) are the leading players in the market.

Contact:
Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441

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