Westford, USA, Aug. 22, 2024 (GLOBE NEWSWIRE) -- SkyQuest projects that Global Smart Display Market will attain a value of USD 40.32 Billion by 2031, with a CAGR of 31.20% over the forecast period (2024-2031). The global smart display market is growing, due to interactive display technologies with intelligent capabilities. These displays do not only display visual information but are combined with voice recognition and touch controls to once again change the way customers interact with digital content. Usages of smart displays: Residential, Commercial, Healthcare, and Automotive. Several major factors influence the need for smart displays. Increased demand for smart home automation and IoT devices has accelerated the adoption of smart screens as central control units. Smart displays make homes easier and more efficient, allowing them to manage lighting, temperature, security systems, and other functions.
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Browse in-depth TOC on the " Smart Display Market "
- Pages - 223
- Tables - 93
- Figures – 76
Smart Display Market Overview:
| Report Coverage | Details |
| Market Revenue in 2023 | $4.59 Billion |
| Estimated Value by 2031 | $40.32 Billion |
| Growth Rate | Poised to grow at a CAGR of 31.20% |
| Forecast Period | 2024–2031 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Product Type, Application, End User, Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and the Rest of the world |
| Report Highlights | Smart Displays and its Growing Popularity |
| Key Market Opportunities | Advancements and Innovation |
| Key Market Drivers | Increase in the Adoption of Smart Screens and Display |
Trend Toward Smart Homes Allowing Smart Home Display to act as a Dominant Segment
The smart home displays segment holds the most share in 2023, and this is due to the growth of smart homes globally, mostly driven by consumers' preferring to control home appliances through voice assistants and touchscreen displays. Smart home displays improve the user experience by offering advanced features such as personalized suggestions, weather updates, and voice-activated controls.
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Real-Time Monitoring Aids the Smart Display Market to Hold the Highest Market Share
On the other hand, the healthcare industry is rapidly increasing and is predicted to be the fastest growing segment of the smart display market. Smart screens are revolutionizing healthcare by enabling real-time monitoring, telemedicine, patient engagement, and remote consultations. These displays are used in hospitals, clinics, and other healthcare facilities to provide doctors, nurses, and patients with simple interfaces, medical record access, and visual aids. The growing need for sophisticated healthcare solutions, combined with the usage of digital health technologies, drives the development of smart displays in the healthcare business.
Asia-Pacific Dominated the Smart Display Market, Accompanied to Rapid Urbanization
The Asia-Pacific region dominates the smart display market. It is expected that the large and growing population, rapid urbanization, and improved disposable income will combine to give the region a key market share. China, Japan, and South Korea take the lead in the growth of the Asia Pacific market through strong industrial capacities, new technological innovation, and large client bases. Furthermore, rising awareness of energy saving, better lives, and the introduction of smart displays into businesses such as retail, healthcare, and transportation all help to cement the region's leadership.
Smart Display Market Insights
Drivers
- Rise in Trend Toward Smart Homes
- Rise in the Use of Voice Assistants
- Expansion of Application
Restraints
- High Implementation Costs
- Privacy and Security Concerns
- Evolving Consumer Preferences
Leading Players Operating in the Smart Display Market
The following are the Top Smart Display Companies
- Google LLC
- Microsoft Corporation
- Toshiba Corporation
- Xiaomi Corporation
- Facebook, Inc.
- NEC Corporation
- Hitachi, Ltd.
- Hisense Co., Ltd.
- Philips N.V.
- Lenovo Group Limited
Key Questions Covered in the Smart Display Market
- What are the factors driving the market growth?
- Which key players are operating within the Smart Display market?
- What are the opportunities present in the market?
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This report provides the following insights:
- Analysis of key drivers (advancements in technology and trend toward smart homes), restraints (high implementation costs), opportunities (innovation in technology), and challenges (security and privacy concerns) influencing the growth of the smart display market
- Market Penetration: Comprehensive information on the product portfolios offered by the top players in the smart display market
- Product Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and product launches in the smart display market
- Market Development: Comprehensive information on lucrative emerging regions
- Market Diversification: Exhaustive information about new products, growing geographies, and recent developments in the market
- Competitive Assessment: In-depth assessment of market segments, growth strategies, revenue analysis, and products of the leading market players.
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SkyQuest is an IP focused Research and Investment Bank and Accelerator of Technology and assets. We provide access to technologies, markets and finance across sectors viz. Life Sciences, CleanTech, AgriTech, NanoTech and Information & Communication Technology.
We work closely with innovators, inventors, innovation seekers, entrepreneurs, companies and investors alike in leveraging external sources of R&D. Moreover, we help them in optimizing the economic potential of their intellectual assets. Our experiences with innovation management and commercialization have expanded our reach across North America, Europe, ASEAN and Asia-Pacific.
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