The Smart Display Market is expected to grow from USD 2.3 billion in 2022 to USD 9.7 billion by 2027; it is expected to grow at a CAGR of 33.4% during the forecast period. Major factors driving the growth of the Smart Display Industry are increasing number of internet users and growing adoption of smart devices according to consumer preferences, surging demand for AI-powered and IoT-enabled smart home appliances, increasing trend of context-aware signage, growing adoption of smart signage in retail sector, high demand for smart mirrors from automotive industry, and new and innovative features offered by smart mirrors.
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Smart signage is expected to account for the largest share of the Smart Display Market, by 2027. The smart signage market is projected to witness lucrative growth during the forecast period. A new trend of context-aware and AI-powered signage is one of the major factors driving the smart signage market. The growing number of retail shops and the increasing use of more interactive and attractive digital signage products have created several growth opportunities for the smart signage market. The smart retail market involves utilizing cutting-edge technologies and solutions, including smart signage, to improve the in-store experience of customers.
The market in APAC is expected to grow at the highest CAGR during the forecast period owing to the presence of a significant number of display device manufacturers, new residential projects, and growth of the retail and automotive industries in the region. The vast base of end users in advanced economies such as Japan and South Korea and the growth in the demand for energy management systems are further expected to drive the growth of the Smart Display Market in this region.
Key Players in the Smart Display Market are grabbing opportunities by indulging in agreements, partnerships and acquisitions. Product development and expansions were a few of the other strategies adopted by companies in this market to strengthen their market position.
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