Portland,OR, July 07, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global smart display market generated $3.78 billion in 2020, and is estimated to generate $18.25 billion by 2028, witnessing a CAGR of 21.6% from 2021 to 2028. The report provides a detailed analysis of changing market dynamics, key segments, value chain, top investment pockets, regional scenario, and competitive landscape.
Surge in demand for IoT and AI-enabled smart applications and increase in demand for smart mirrors in the automotive industry drive the growth of the global smart display market. However, high risks related to data breaches hinder the market growth. On the other hand, rise in number of smart stores worldwide and rise in demand for enhanced smart display applications in the healthcare sector create new opportunities in the coming years.
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Covid-19 Scenario:
- Manufacturing activities of smart displays are hindered completely or partially due to lockdown measures implemented in various countries. Moreover, challenges such as lack of availability of raw materials and skilled workforce along with contractual obligations and project delays or cancellations occurred.
- The demand from end users such as automotive, sports, and retail reduced considerably due to disruptions in daily activities. However, the demand from the healthcare sector increased with a burden on the system to treat the sudden rise in number of patients.
- During the post-lockdown, manufacturing activities are expected to resume with full capacity and the demand from end-users is expected to rise steadily.
The report offers detailed segmentation of the global smart display market based on type, resolution, display size, end user, and region.
Based on type, the signage segment held the largest market share in 2020, accounting for more than two-fifths of the total share, and is estimated to maintain its lead position during the forecast period. However, the home display segment is expected to manifest the largest CAGR of 23.3% from 2021 to 2028.
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Based on resolution, the HD segment accounted for the highest market share in 2020, contributing to nearly two-fifths of the global smart display market, and is projected to maintain its leadership status during the forecast period. However, the UHD segment is estimated to witness the highest CAGR of 22.6% from 2021 to 2028.
Based on region, Europe contributed to the highest market share in 2020, accounting for nearly one-third of the total market share, and is projected to maintain its dominant share in terms of revenue by 2028. However, Asia-Pacific is expected to witness the largest CAGR of 24.2% during the forecast period.
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Leading players of the global smart display market analyzed in the research include Samsung, Alphabet (Google LLC), LG Electronics, Japan Display Inc., Panasonic Corporation, Alpine Electronics, Sony, Leyard Optoelectronic, Sharp Corporation, and Manga International Inc.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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