Global Smart Display Market (2022 to 2027) – Growing Applications of Smart Mirrors in Smart Homes Presents Opportunities – ResearchAndMarkets.com
DUBLIN–(BUSINESS WIRE)–The “Global Smart Display Market” report has been added to ResearchAndMarkets.com’s offering.
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.
Smart home display to witness highest CAGR in smart display market during the forecast period
Smart display market is expected to grow at a CAGR during the forecast period. High demand for smart mirrors from the automotive industry, new and innovative features offered by smart mirrors, 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, and growing adoption of smart signage in retail sector are the key driving factors for the smart display market. However, High risks of theft and breach of customer data hampering the growth of the market.
Smart Signage to account for largest share of smart display market during the forecast period.
The smart signage market has witnessed various technological advancements and registered remarkable growth over the last few years. Smart signage is among the most demanding and growing platforms that empower many people to access product information and promotions. Various industries are encouraged to deploy smart signage solutions owing to their user-friendly and customer-centric features. Different types of digital signage products, such as displays, media players, and projectors, are used by the retailers for effective interaction with customers. In retail stores, smart signage solutions are used to greet customers, enhance customer shopping experiences, and display advertisements.
North America to hold a significant market share of smart display market during the forecast period.
North America is expected to hold the second highest market share of the smart display market during the forecast period. The smart display market in North America is estimated to grow significantly over the next few years. Being technologically advanced and developed, the region is a major adopter of cutting-edge technologies used in the advertisement sector. The smart display market in North America is driven by various factors, such as the high standard of living of customers, the growing need to save time, and the increasing requirement for improved retail services in terms of accuracy and efficiency. In the current market scenario, the US dominates the smart display market in North America because of its well-established economy that supports the large retail and transportation market.
Market Dynamics
Drivers
- Rising Demand for Smart Mirrors from Automotive Industry
- New and Innovative Features of Smart Mirrors
- Upsurge in Online/Digital Retail Shopping due to COVID-19 Pandemic
- Transition from Traditional Stores to Smart Stores in Retail Industry
Restraints
- High Risks of Customer Data Theft and Breach of Customer Data Privacy
Opportunities
- Growing Applications of Smart Mirrors in Smart Homes
- Increasing Use of Smart Digital Mirrors in Healthcare Solutions
- High Growth Potential in Retail Sector
Challenges
- Lack of Awareness Regarding Smart Mirrors and High Costs
Companies Mentioned
- Samsung Electronics
- Lg Electronics
- Nec
- Sony
- Panasonic Corporation
- Amazon
- Apple
- Gentex
- Magna International
- Qualcomm
- Intel
- Honeywell
- Lenovo
- Electric Mirror
- Qisda
- Alphabet(Google)
- Leyard Optoelectronic (Planar)
- Robert Bosch GmbH
- Apls Alpine Co., Ltd.
- Ibm
- Smart Parking
- Oak Labs
- Dirror
- Myra Mirrors
For more information about this report visit https://www.researchandmarkets.com/r/i4sof3
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