Displays have come a long way since the last century, from enormous screen sizes that only showcased pictures to small screens that interact with users. The functionalities of displays have evolved considerably, and recent technological advancements are driving innovation at a massive speed.
While older displays needed big circuits to support them in displaying pictures and videos, more recent displays have become flatter and curvier than before, saving space and enhancing the experience. Displays have now become touchscreen gadgets to allow users to quickly perform tasks.
It’s evident displays are getting smarter, and the smart display revolution is underway. This article provides a comprehensive look at the smart displays market, including recent product innovations, key applications, forecasts, and more.
1. What Is a Smart Display
A smart display is integrated with different features such as touchscreen interactivity, voice assistance, artificial intelligence (AI), and compatibility with streaming channels. These features are interactive and allow users to perform tasks faster and more efficiently.
Smart displays come in different types, sizes, and display technology—from interactive touchscreen displays to standalone displays. They are available in every size, ranging from 24 to 55 inches. Various display technologies such as LED, LCD, e-paper, and many others are making their way into the market, with each technology providing a different and unique experience.
2. Key Applications for Smart Displays
The utilization of smart displays is surging considerably in smart homes. From TV screens and lighting systems to CCTV & doorbell cameras, smart displays have made their way into people’s smart homes. Touchscreens, interactive displays, and voice-assisted displays provide people with seamless user experiences.
On the other hand, the usage of smart displays is also growing in the healthcare and automotive industries. In the healthcare sector, their usage is widely increasing for various functionalities, such as telehealth consultation, remote monitoring, video conferencing, and patient health monitoring in operation theaters. In the automotive sector, these displays are used for infotainment purposes for backseat passengers, dashboards, and many other purposes.
3. Major Driving Forces and Challenges
Technological advancements in terms of resolution, connectivity, compatibility, interactivity, color, and sizes propel the smart display market growth. The launch of innovative products and collaboration activities between market players also drive the market growth. In addition, the integration of AI and other advanced technologies in smart displays and the increase in adoption in smart homes, healthcare, automotive, and other sectors fuel market expansion.
Laser-based display technology is expected to present new opportunities in the coming years. With remarkable color, brightness, durability, and energy efficiency, this type of display technology is anticipated to make waves in the future.
This market is not without challenges, however. Security vulnerabilities and the potential for breaches could hinder the adoption of smart displays.
4. Growth Rate of the Global Smart Display Market
According to the report published by Next Move Strategy Consulting, the global smart display market reached $16.45 billion in 2023, and is estimated to hit $48.02 billion by 2030, registering a CAGR of 15.4% from 2024 to 2030. The surge in the adoption of smart home solutions and technological advancements in the healthcare industry is expected to drive the market. Meanwhile, the advent of laser-based displays is expected to present new opportunities in the coming years.
5. Countries & Regions Experiencing Market Growth
The seamless integration with various Internet of Things (IoT) devices for enhanced convenience, functionality, and efficiency is driving the growth of the smart display market in the Asia-Pacific region. This region is expected to hold the major market share in the coming years. According to the report by Next Move Strategy Consulting, the Asia-Pacific smart display market is expected to reach $19.92 billion by 2030. An increase in urban living and a surge in healthcare applications also drive the regional market. Furthermore, the presence of leading players in countries such as Japan, India, and South Korea plays a major part in the dominance of this region in the global market.
The European region is expected to register a substantial growth rate in the coming years. The presence of a large automotive industry and prominent manufacturers in countries such as Germany, France, and others drives the growth. According to the report by Next Move Strategy Consulting, the Europe smart display market is projected to reach $10.33 billion by 2030. France is expected to contribute majorly to the growth of the region, with the France smart display market expected to contribute $910.06 million by 2030. On the other hand, the high adoption rate of the smart home ecosystem in the North American market is projected to bring new opportunities, with the U.S. and Canada markets contributing significantly to the regional market.
6. Top Smart Display Companies
Top companies in the smart display market include Samsung Electronics, LG Corporation, Qisda Corporation (BenQ), Lenovo Group Limited, Sharp NEC Display Solutions (NEC Corporation), Sony Corporation, Leyard Optoelectronic Co., Google, Inc., and others. These market players are implementing various strategies such as new product launches, collaborations, and acquisitions to increase their market stakes, grow their consumer base, and dominate on a global scale.
For example, LG Electronics Japan is set to launch an LG 31.5-inch 4K IPS Smart Display. This high-definition monitor has a webOS platform, a wide color gamut, and an IPS panel. It has compatibility with streaming services, including Netflix, YouTube, Twitch, Apple TV+, and many others. Such new launch initiatives aim to widen the customer base and increase market share. Similar new products are expected to be launched in the coming years.
Where to Learn More
For more extensive smart display industry analysis, read Next Move Strategy Consulting's report on the global smart display market, which provides a detailed qualitative analysis of trends, driving forces, opportunities, forecasts, market size, market share, and growing countries and regions.
Next Move Strategy Consulting has also published dozens of other targeted reports analyzing the smart display market within a wide range of different countries. Search the collection to find the data you need.
About the Author
Arjun Chetry is an accomplished researcher and author of several strategically analyzed research reports. With his current position as an industry analyst, he has a keen eye for analyzing industry trends and understanding consumer behavior. His dedication to exploring diverse subjects and conducting in-depth analyses has equipped him with a deep understanding of research intricacies. He remains committed to staying up-to-date with the latest market trends and recognizing their impact on business and society. His well-rounded interests and experiences contribute to his ability to offer insights and perspectives on various topics.
About Next Move Strategy Consulting
Next Move Strategy Consulting is a premier market research and management consulting firm committed to delivering high-quality market research reports across 10 different industry verticals. Our analysts are constantly tracking various high-growth markets and identifying hidden opportunities in each sector.
