In 2020, The Smart Display Market Size was estimated to be worth worth USD 1.1 billion, and by 2025, it is expected to be worth USD 6.1 billion. During the predicted period, a CAGR of 41.0% is anticipated. The automotive industry's high demand for smart mirrors, their cutting-edge features, the rise in internet users and the growing adoption of smart devices in line with consumer preferences, the surge in demand for AI-powered and IoT-enabled smart home appliances, the rising trend of context-aware signage, and the expanding use of smart signage in the retail sector are the main factors propelling the global market for smart displays.
Key Players
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 a few of the major players in the Smart Display Market.
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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.
North America will dominate the Smart Display Market during the anticipated period.
The US, Canada, and Mexico are among the North American nations that are open to embracing products that are equipped with cutting-edge technologies. Due to the existence of early adopters and major smart display providers in the US, the penetration of smart displays is significant. Customers' openness to adopting and using new technology has also propelled regional manufacturers to create cutting-edge goods. Because major companies that provide smart displays, like Amazon, Google, and Facebook, have their headquarters in the US, the majority of their goods are introduced and delivered there first. The market for smart devices is extremely competitive in the area, and businesses that provide smart displays are constantly investing in the creation of technologically cutting-edge items. The region's increased use of smart gadgets is also driving up demand for smart displays.
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