The Global Smart Display Market size is expected to reach $15. 1 billion by 2027, rising at a market growth of 22. 1% CAGR during the forecast period. A smart display is a digital display that can be operated via voice remote devices or Internet of Things (IoT) connected devices.
New York, Aug. 31, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Smart Display Market By Resolution, By Type, By Display Size, By End User, By Regional Outlook, COVID-19 Impact Analysis Report and Forecast, 2021 - 2027" - https://www.reportlinker.com/p06131636/?utm_source=GNW
The smart mirror, for example, is an innovative device capable of recording the user’s personal information and shopper’s experience in the automobile and retail sectors. In addition, as a cutting-edge technical solution, smart is constantly evolving with interactive and sophisticated control capabilities.
One of the key factors driving the growth of the smart display market is the rising demand for connected cars. The need for improved safety, convenience, and comfort in vehicles is increasing rapidly, which is propelling the growth of smart display market. However, the expensive cost of sophisticated smart displays, as well as the concern of cybersecurity, is restricting the market’s growth. The industry is projected to benefit from increased demand for sophisticated features in consumer electronics applications. Panasonic Corporation, LG Display Co., Ltd., Samsung Electronics Co., Ltd., Sony Corporation, and Lenovo, among others, are constantly concentrating on extending their product line and employing inorganic methods such as mergers and collaborations to widen their global footprint and client base.
The rapid spread of COVID-19 has become one of the world’s most serious economic dangers, creating widespread worry and economic suffering for consumers, businesses, and communities throughout the world. The “new normal”, which includes social isolation and working from home, has produced difficulties with daily activities, routine work, requirements, and supplies, resulting in missed chances and delayed projects.
The COVID-19 epidemic is wreaking havoc on society and the global economy. The outbreak’s impact is rising day by day, and it’s impacting the supply chain. It’s causing stock market volatility, a drop in company confidence, a significant slowdown in the supply chain, and an increase in customer fear. Due to the suspension of manufacturing facilities in the region, European nations under lockdown have lost a significant amount of business and income. The outbreak of COVID-19 has had a significant influence on production and manufacturing operations, resulting in a slowdown in the smart display industry’s growth in 2020.
The COVID-19 pandemic has had a huge influence on the worldwide manufacturing and industrial sectors, according to smart display market trends, as production facilities have halted, resulting in considerable demand in industries. The implementation of partial or total lockdown in many nations across the world is the primary cause of this slowing development pace. The demand for maintenance from diverse sectors was decreased when industries were temporarily shut down.
Based on Resolution, the market is segmented into HD & FHD and UHD. In terms of revenue, the HD &FHD category led the market in 2020, while the UHD segment is expected to gain considerable market share throughout the forecast period.
Based on Type, the market is segmented into Signage, Home Display and Mirror. Technological advancements have updated brick-and-mortar businesses, attracting more consumers by minimizing their irritation and boredom and presenting essential information about product lines, promotions, and other factors that impact their buying habit. With the emergence of new technologies and innovations in the automobile industry, customers are selecting smart approaches and displays with additional features that result in a simple procedure, which will open up new market prospects in the future years.
Display Size Outlook
Based on Display Size, the market is segmented into Between 32 & 52 Inch, Below 32 Inch and Above 52 Inch. The Between 32 & 52 Inch market dominated the Global Smart Display Market by Display Size 2020, growing at a CAGR of 21.6 % during the forecast period. The Below 32 Inch market is expected to witness a CAGR of 21.8% during (2021 - 2027).
End User Outlook
Based on End User, the market is segmented into Retail, Residential, Healthcare & Life Sciences, Sports & Entertainment, Automotive and Others. Smart screens are increasingly being used in automobile applications. Demand patterns in the automotive sector, progress toward producing autonomous vehicles, technological developments in cockpit electronics, and customer preferences are all factors that positively influence the market.
Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. APAC is predicted to have the highest growth rate during the forecast period. The presence of several small and medium-scale merchants in the region has contributed to the region’s market growth. Moreover, APAC is home to some of the industry’s major companies, like LG Display (South Korea) and Samsung (South Korea).
The major strategies followed by the market participants are Product Launches. Based on the Analysis presented in the Cardinal matrix; Apple, Inc. and Google, Inc. are the forerunners in the Smart Display Market. Companies such as Amazon.com, Inc. Samsung Electronics Co., Ltd., Sony Corporation are some of the key innovators in the market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Qualcomm, Inc., Intel Corporation, Honeywell International, Inc., NEC Corporation, Amazon.com, Inc., Google, Inc., LG Electronics, Inc. (LG Corporation), Sony Corporation, Apple, Inc., and Samsung Electronics Co., Ltd. (Samsung Group).
Recent strategies deployed in Smart Display Market
Partnerships, Collaborations, and Agreements:
Jun-2021: Sharp NEC Display Solutions of America, Inc. formed a partnership with Rise Vision, a cloud-based solution. This partnership aims to provide K-12 schools & higher education institutions, a free year of Rise Vision digital signage with every NEC display MediaPlayer solution they buy. Under this partnership, Rise Vision combines its solution with the NEC MediaPlayer through the pre-installed Raspberry Pi Compute Module 3 or Compute Module 4. In addition, schools can easily choose the Rise Vision CMS in the MediaPlayer settings and can get their digital signage up and operating in minutes.
Jun-2021: Sharp NEC Display Solutions came into partnership with Avery Dennison, a global materials science company. With the integration of Avery Dennison’s Vela Dynamic System and NEC projection technology, ActiveScene offers a complete AV solution to transform prevailing windows into engaging, eye-catching displays.
Jun-2021: Amazon joined hands with Verizon, an American multinational telecommunications conglomerate. Under this collaboration, Verizon is developing a smart display built on Amazon’s Alexa.
Mar-2021: LG formed a joint venture with Luxoft, the Swiss-based software firm. This new joint venture named Alluto is set up in Santa Clara, California, and will provide solutions for digital cockpit, in-vehicle infotainment, passenger-seat entertainment, and ride-hailing systems based on LG’s webOS Auto platform.
Feb-2021: Qualcomm Technologies came into an agreement with Visteon Corporation, an American global automotive electronics supplier and Fortune 500 company. Under this agreement, both the companies would work together to develop intelligent cockpit solutions over traditional and electric vehicle applications by utilizing the Qualcomm Snapdragon Automotive Cockpit Platforms.
Jan-2021: Qualcomm Technologies entered into a partnership with NIO, an automotive company. Both the companies aimed to feature the new next-generation digital cockpit technologies in NIO’s first flagship sedan, the NIO ET7 featuring the 3rd Generation Qualcomm Snapdragon Automotive Cockpit Platform and Qualcomm Snapdragon Automotive 5G Platform, which bring intelligent & immersive in-vehicle experiences to users.
Sep-2020: Samsung entered into a partnership with d’strict, a Seoul-based design company. The partnership aims to bring several opportunities for Samsung SMART signage beyond easy information delivery and would enable companies to consider the possibilities of utilizing these displays as a media art platform. In addition, the partnership aligns with the company’s wide customer experience ‘Screens Everywhere’ vision and would showcase improved content on the new display technology.
Apr-2020: Qualcomm Technologies teamed up with BOE Technology Group, a Chinese electronic components producer. This collaboration aimed to develop advanced display products featuring Qualcomm 3D Sonic ultrasonic fingerprint sensors. Under this collaboration, BOE’s specialization in interface devices & smart IoT systems integrates with Qualcomm Technologies’ wide product portfolio that makes it a perfect collaboration for the 5G era, where the customer could expect brilliant performance enhancement resulting from the close integration of both Companies’ various key technologies that includes antennae, sensors, display picture processing, etc.
Mar-2020: NEC Corporation formed a joint venture with Sharp Corporation, a Japanese multinational corporation. The Sharp-NEC joint venture would enable both enterprises to bring their strengths together and fulfill the visualization requirements of their global customers.
Jan-2020: LG came into collaboration with Corning, an American multinational technology company. This collaboration aimed to commercialize Corning ColdForm Technology for curved automotive interior display systems. The companies also bring better economic and high-quality curved display modules to the automotive market.
Acquisition and Mergers:
Jan-2021: Google acquired Fitbit, an American consumer electronics and fitness company. This acquisition aimed to make health & wellness accessible to more people. The integration of Fitbit’s leading technology, health & wellness innovation, and product expertise with the best of Google’s AI, software, and hardware would increase the competition in wearables and develop the next generation of devices better & more affordable.
Product Launches and Product Expansions:
Jun-2021: Amazon introduced upgraded Echo Show 10, Echo Show 5 in India. Customers can easily access a live feed from Echo Show 10 via the Alexa app on their smartphone, or other Echo Show devices with the capability to remotely pan the display and camera to have a sight of the whole room.
May-2021: Amazon introduced its second generation of Echo Show smart displays: The Echo Show 5, Echo Show 8, and all-new Echo Show 5 Kids. The latest and enhanced Echo Show 8 have a better camera and more video chat features. The more compact Echo Show 5 features the latest color option, and also a permanent price drop. The Echo Show 5 Kids consists of several same features as the Echo Show 5 with parental controls & kid-friendly designs. All these displays feature the latest, built-in shutters over their cameras for more privacy.
May-2021: Samsung launched new models for its latest Smart Monitor lineup. This lineup involves the newly launched 43-inch M7 variant, which will be accessible across the globe. It features a sleek design and a new white color option, which would be available in smaller variants of 24-inch, 27-inch, and 32-inch displays. The Smart Monitor lineup focuses on fulfilling the increasing demand for "do-it-all" displays and offers improved productivity and an exclusive entertainment experience to the users.
Apr-2021: Sharp NEC Display Solutions introduced updates in its P Series large format displays. The professional display lineup offers a full metal chassis, a color gamut panel, and an improved feature-set for UHD digital signage. The updated P Series displays provide vivid, crystal clear imagery and messaging along with native UHD resolution. The displays feature NEC’s proprietary SpectraView Engine, a function, which functions constantly with the latest broad color gamut, 700 cd/m2 professional-grade panel by enabling accurate color and luminance precision.
Apr-2021: Sony introduced the latest 32-inch BRAVIA 32W830 Android TV for the Indian market. This TV is the first of its kind in India, which comes with Google Assistant. In addition, this TV also features more than 5,000 apps and a built-in Chromecast. It delivers extraordinary Full HD clarity by upscaling each pixel for an improved and more vivid TV viewing experience.
Apr-2021: Apple released the latest updates to its iPad lineup that consists of a new iPad Pro with a super bright LED display and a redesigned iPad mini with little bezels and a bigger display. Additionally, the company is working on next-gen AirPods that would have a design like the higher-end AirPods Pro, with spatial audio support and included touch controls.
Mar-2021: Sharp NEC Display Solutions unveiled its latest MultiSync Message Series that features displays from the ME, M, and MA Series. This latest portfolio delivers an ultra-high-definition and commercially aimed display lineup maximized for digital signage applications and also consisting modular expandability to enable more flexibility to provide various customers the solutions they want to make a difference.
Mar-2021: Amazon introduced its new Alexa app for Xbox that transform the gaming device into a smart display. The only condition of this app is that customers would require an Amazon Echo smart speaker or a compatible Alexa device to utilize this app.
Mar-2021: LG unveiled a new display, the OLED 48CX TV under its OLED television range. The product is aimed at both gaming enthusiasts and customers who are looking for an immersive cinema experience. This product is powered by NVIDIA G-SYNC, which provides highly responsive gaming with no lags & stuttering. In addition, the HGiG profile is made by utilizing the self-lit pixels that assist in giving customers the best possible experience for HDR gaming.
Jan-2021: Qualcomm Technologies launched its next generation of digital cockpit solutions with the 4th Generation Qualcomm Snapdragon Automotive Cockpit Platforms. This solution is developed as a homogenous & multipurpose solution to acknowledge the transition to a zonal architecture, delivering as a central hub for high-performance computing, artificial intelligence (AI), computer vision, and multi-sensor processing with a flexible software configuration to fulfill the compute, performance and functional safety requirement for that zone or domain.
Dec-2020: Amazon introduced Netflix app on its Echo Show smart display. This addition enables customers to watch most of their favorite shows & movies straight from the display itself. The company also stated that Echo Show customers are watching more video content on their smart displays from streaming services such as Prime Video. Amazon also notified that Netflix would add on to the entertainment options, which the Echo Show devices provide to their customers.
Nov-2020: Samsung introduced its all-new Smart Monitor, an innovative, do-it-all screen. Samsung Smart Monitor was released in two series, the latest lineup that includes mobile and PC connectivity apart from providing smart TV features like video on demand (VOD).
Oct-2020: Sony unveiled its Spatial Reality Display, the latest product developed with Sony’s Eye-Sensing Light Field Display (ELFD) technology. The display allows creators from various industries to bring ideas to life with the 3D displays, without the requirement of virtual reality (VR) glasses or a headset.
Scope of the Study
Market Segments covered in the Report:
• HD & FHD
• Home Display
By Display Size
• Between 32 & 52 Inch
• Below 32 Inch
• Above 52 Inch
By End User
• Healthcare & Life Sciences
• Sports & Entertainment
• North America
o Rest of North America
o Rest of Europe
• Asia Pacific
o South Korea
o Rest of Asia Pacific
o Saudi Arabia
o South Africa
o Rest of LAMEA
• Qualcomm, Inc.
• Intel Corporation
• Honeywell International, Inc.
• NEC Corporation
• Amazon.com, Inc.
• Google, Inc.
• LG Electronics, Inc. (LG Corporation)
• Sony Corporation
• Apple, Inc.
• Samsung Electronics Co., Ltd. (Samsung Group)
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