Smart Display Market Size Worth $11.54 Billion, Globally, by 2028 at 36% CAGR - Exclusive Report by The Insight Partners

NEW YORK, May 31, 2022 /PRNewswire/ -- The Insight Partners published latest research study on "Smart Display Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Size (Up to 12 Inches, Above 12 Inches - Up to 32 Inches, Above 32 Inches - Up to 52 Inches, and Above 52 Inches), Type (Signage, Display, and Mirror), Resolution (Full High Definition, Ultra High Definition, and Others), and Industry (Consumer & Home Appliances, Automotive, Healthcare, Retail, and Others)", the global smart display market size was valued at $1.44 billion in 2021 and is expected to reach $11.54 billion by 2028; it is estimated to register a CAGR of 36.0% from 2022 to 2028.

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Smart Display Market Analysis: Competitive Landscape and Key Developments

Google; NanoLumens Inc.; BenQ America Corp.; Honeywell International, Inc.; Samsung Electronics; UPC Displays; Eye Saver International; USCO America Inc.; DATA MODUL; Visteon Corporation; TV Liquidator; Omnivex; and CAYIN Tech are among the key players profiled during this market study. In addition, several other essential smart display market players were studied and analyzed to get a holistic view of the market and its ecosystem.

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In 2022, NoviSign, a industry pioneer in android digital signage, announced that NoviSign android digital signage app is now available for all Sony BRAVIA professional android-based displays. The professional BRAVIA line from Sony supports 4K and HDR, has a system-on-a-chip platform, and comes in sizes ranging from 32 inch to 100 inch.

In 2022, Division of Alphabet Inc., Google constantly improve its smart displays by adding new capabilities. Google incorporated a "Look and Talk" feature into the Nest Hub Max smart display. Users can utilize this feature to activate the microphone for orders without using the "Hey Google" keyword by looking at the onboard camera.

The smart display market is segmented into North America, Asia Pacific, Europe, the Middle East & Africa, and South America. The Asia Pacific smart display market size is segmented into Australia, India, China, Japan, South Korea, and the Rest of APAC. The growth in the electronic industry in Asian countries, such as China, India, Japan, South Korea, and Taiwan, positively impacts the growth of the smart display market. Government initiatives such as Make in India and Make in China are transforming the industries of India and China, respectively.

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The manufacturing industries such as electronics and automotive are evolving; therefore, the manufacturers are inclined to adopt advanced technologies such as smart displays, which is boosting the smart display market. Moreover, the demand for smart homes is increasing in the region. For instance, over 21% of homes are smart homes in Australia. The factors influencing people to opt for smart homes are the rising usage of technologies in daily life, security, and the desire to upgrade the standard of living. Thus, these factors are driving the smart display market growth in Asia Pacific's residential sector.

The prominent smart display market players such as KYOCERA, Alps Electric, Panasonic, Winsonic, Boe Technology Group, Xiaomi, TPV Technology, and BenQ Technology are considering APAC as one of the most potential regions for the sales of smart displays. For instance, in February 2021, Amazon announced that it is setting up its manufacturing unit in Chennai, India, under the partnership of Cloud Network Technology, a subsidiary of Foxconn. In October 2020, Lenovo launched its smart display and smart clock in Singapore. Thailand's 4.0, an economic model initiative by the government of the country, is expected to attract investments to develop Thailand's smart cities. All the above mentioned aspects are contributing to the smart display market size.

The rising demand for different consumer electronics in the Asian economy is boosting the growth of electronics and semiconductor manufacturing, stimulating the adoption of smart displays. Thus, factors such as the rising need for advancement in technologies broaden the adoption of smart displays, which fuels the smart display market growth in Asia Pacific.

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The limitations imposed by governments to control the spread of COVID-19 during the initial time frame of the COVID-19 outbreak in the mentioned countries affect the production process due to the restriction of a limited workforce. Automotive and consumer electronics are the key sectors that contribute to the region's smart display market. The buying capacity of the consumer is reduced considerably due to job loss or salary cuts, which impacted the sales of smartphones, smartwatches, and other electronic appliances. According to Automobile Industry Associations, the Indian automotive industry suffered a daily loss of US$ 31,164 million approximately during 2020. However, as the economies re-opened and industries began their operations, the demand for smart displays from various end-users grew since 2021.

Smart Display Market: Resolution Overview

Based on resolution, the smart display market is segmented into full high definition (FHD), ultra high definition (UHD), and others. Smart displays with HD resolution are mostly used for residential applications. However, most applications including advertising signage or smart kiosks, increasingly use displays with UHD and FHD resolutions. The market is primarily driven by the growing demand for smart signage displays having better resolution so that the users can enjoy an immersive experience.

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Wearable Display Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product Type (Smart Bands/Activity Trackers, Smartwatches, Head-Mounted Displays); Display Technology (LED-Backlit LCD, OLED); Panel Type (Rigid, Flexible, Micro Display); Display Size (Less than 1 Inch, 1 to 2 Inches, More than 2 Inches); Vertical (Consumer, Military and Defense, Healthcare, Commercial, Others) and Geography

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