The Smart Display Market is anticipated to increase from USD 2.3 billion in 2022 to USD 9.7 billion by 2027; throughout the course of the forecast period, it is anticipated to rise at a CAGR of 33.4%.
Production has been halted, sales have plummeted, and COVID-19 has forced major competitors in the worldwide smart display market to buckle down and reevaluate strategies. The production and sales of passenger and commercial vehicles around the world were impacted by factors in the automotive industry, such as rescheduling the launch of models and projects, stabilising dealer networks, strictly managing cash flow, and reviewing investment portfolios; this led to a decline in the smart display market size in 2021. The pandemic has had a severe effect on important nations with significant market shares, which has led to a decline in the use of smart displays in automobiles and other applications. During the projection period, the smart display market is anticipated to have a significant uptick.
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A greater CAGR is anticipated for smart home displays during the projection period.
Most manufacturers and suppliers of smart home products are moving away from conventional methods and toward cutting-edge technologies. In comparison to conventional devices, smart devices provide a number of advantages, including lower energy usage and better device management. By boosting investments in the smart device sector, companies that sell consumer electronics are also taking advantage of the growing demand for linked devices and solutions. The market for smart home displays is anticipated to expand favourably as a result of the increased investment in the near future. The popularity of AI and IoT-based products has also lately increased due to their practicality and usability.
The projection period will see the highest CAGR growth in APAC.
The desire for advanced infrastructure brought on by strong economic growth, expanding population, and rapid urbanisation are the main factors driving the high growth potential of the smart display market in APAC. Due to the increased need for automation in numerous new and current residential projects, expanding retail space, and expanding automotive industry in the area, the market is anticipated to have the highest CAGR throughout the forecast period.
Amazon (US), Samsung Electronics (South Korea), Alphabet (Google) (US), Apple (US), LG Electronics (South Korea), NEC Corporation (Japan), Panasonic Corporation (Japan), Leyard Optoelectronic (Planar) (China), Sony (Japan), Facebook (US), Magna International (Canada), and Gentex (US) are the participants profiled in this report. Other participants include Qualcomm, Intel, Honeywell, Lenovo, Electric Mirror, Qisda Corporation ( (US).
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