ID: MRFR/SEM/5262-HCR | February 2021 | Region: Global | 100 pages
The Smart Display Market is estimated to grow at a CAGR of 17%. The market value is anticipated to reach up to USD 340.85 Billion by the forecast period 2017-2023. Smart Display is a touchscreen device that enables to connect, share and interact with other connected devices. The major driving factors such as the rising demand for connected vehicles will boost the market. Along with that, the increasing demand for convenience, security, and comfort in automobiles are also driving factors of the market.
Some factors are speculated to hinder the market growth. It includes the threat caused by rising cases of cyber-crimes that can hamper growth. Also, the requirement of high costs for the development of Smart Displays with advanced features. It is projected that the introduction of new products will promote market opportunities in the upcoming years.
The Smart Display Market regionally is divided into North America, Europe, Latin America, Asia-Pacific, and the Rest of the World. During the forecast period, North America will hold the largest share in the market. Furthermore, the market segments of this report include display technology, touch panel type, and end-user. Hence, the market will witness significant growth in the forthcoming years.
The spread of the COVID-19 disease hampered major industries across the world. Major economies around the world squeezed to a significant rate. The spread of the disease led to the shutdown of major industries. The Smart Display Market also faced a significant decline in market growth. In the upcoming years, the market is anticipated to witness gradual growth with technological advancements.
The emergence of Wi-Fi connectivity and high-speed broadband connection has played a major role in the growth. The rising technological developments of artificial intelligence in smart displays are a major driver. Furthermore, the increasing demand for better connectivity, convenience, and safety in automobiles will improve the growth of the Smart Display Market.
The rising cases of data theft in various sectors such as governments, the retail industry, and banks is a major problem. The Smart Displays can track the personal data of users. Hence, the risk of security breaches and the misuse of personal data can restraint the market growth.
The development of the retail industry plays a major role in fulfilling the rising demand for the solutions of smart signage. These solutions can enhance brand awareness with the help of programmatic advertising. Along with that, the rising demand for advanced features in consumer electronics will also offer broad opportunities for Smart Display Market.
One of the major challenges for the Smart Display Market is the dependency upon network technologies, communication. Also, the malfunctioning of the devices can cause several technical complexities. This can also lead to increased costs that can reduce the market growth substantially.
As per the Smart Display Market Analysis by MRFR, the Compound Annual Growth Rate (CAGR) will be at 17 Billion. The market value is anticipated to reach up to USD 340.85 Billion by the forecast period 2017-2023. Various drivers such as the development of artificial intelligence Smart Displays will improve the market growth. Thus, the market will have significant growth during the forecast period.
Value Chain Analysis
With the development of technology, the Smart Display Market Demands is a major factor. There are other factors such as supportive market developments. Also, with the adoption of key strategies such as partnerships, acquisitions, collaborations by the key players, the value chain will increase in the forthcoming years.
The market segments of the Smart Display Market are divided into display technology, product type, touch panel type, and end-user.
Based upon Display Technology, the market is divided into TFT, OLED, TFT-LCD, LCD, and others.
Based on Product, the market is divided into smartphones, Digital Signage, Smart TV, Head-Up Display, Interactive Kiosks, and Smart Wearable.
Based on End-User, the market is segmented into Automotive, Commercial, Healthcare, Education, Residential, and others
Based on Touch Panel Type, the market is divided into Resistive and Capacitive
On the basis of region, the Smart Display Market Size is divided into North America, Latin America, Europe, Asia-Pacific, and the Rest of the World. According to the Smart Display Market Research Report, North America will have the highest Smart Display Market Share during the forecast period. Various factors such as the presence of major market players, and high-technological advanced countries such as Canada and the US are fuelling the market growth in this region.
Furthermore, the second largest share will be held by Europe as well. However, the Asia-Pacific region will have significant growth in the Smart Display Market. There are several factors such as the increasing use of the internet and the technological advancements in countries such as India and China will drive the market growth in the forthcoming years.
The key players in the Smart Display Market are focusing on different market strategies such as partnerships, mergers, collaborations, product launches, etc. Companies such as Sony Corporation, Samsung Electronics, etc. are focusing to expand their portfolio with these strategies.
These are crucial market players in the Smart Display Market-
The overview of the Smart Display Market is as follows-
The report score highlights the important factors and potential for the growth of the Smart Display Market. It provides insight into the drivers, opportunities, recent developments by the key players, and many more. The information in this report is collected from various primary and secondary sources.
|Market Size||USD 340.85 Billion|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Product, Display Technology, Touch Panel Type, End-User|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||LG Display Co., Ltd. (South Korea), Samsung Electronics Co., Ltd. (South Korea), Innolux Corp. (Taiwan), Sharp Corp. (Japan), Google Inc. (US), BOE Technology Group Co. (China), Lenovo (Hong Kong), Panasonic Corporation (Japan), Harman International Industries, Incorporated (US), ViewSonic (US), Sony Corporation (Japan)|
|Key Market Opportunities||Demand for advanced features in consumer electronics.|
|Key Market Drivers||
Frequently Asked Questions (FAQ) :
The market achieved a valuation of USD 143.25 billion in 2017, which is historic valuation as per the study.
USD 340.85 billion is the figure for valuation that the market will achieve by 2027.
The growing demand for connected vehicles is the essential factor enhancing the growth of the market.
The factor of high cost of advanced smart displays as well as threat to cybersecurity are limiting the growth of this market.
The companies such as Samsung Electronics Co., Ltd. Panasonic Corporation, LG Display Co., Ltd., Lenovo and Sony Corporation are continuously focusing on expanding their product portfolio and assisting the market to expand wisely.