Smart Display Market Expands Globally to Reach US$ 16.16 Billion by 2027
Research Reports
Mar 25, 2022
Global Information, Inc. [JASDAQ 4171]
A smart display is a wireless voice-activated device that utilizes integrated virtual assistant software to present information and perform tasks through a screen. It is widely used for playing media, displaying information, such as weather, upcoming appointments and notifications, and connecting with the home security systems for real-time updates. Smart displays are available in a wide variety of sizes and advanced variants that are integrated with built-in cameras and speakers to provide video calling features. They provide enhanced safety, convenience, productivity, hands-free access and entertainment to the consumers. As a result, they are widely used across various industries, such as medical, automotive, retail, residential, sports and entertainment.
The global smart display market reached a value of US$ 4.79 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 16.16 Billion by 2027, exhibiting at a CAGR of 22.56% during 2022-2027. The widespread product adoption in the automotive industry is creating a positive outlook for the market. Smart displays are widely used in connected vehicles to offer driver assistance functions and provide enhanced safety, convenience and comfort to the passengers. Additionally, the increasing demand for smart home security devices, such as video doorbells and security cameras, is providing a thrust to the market growth.
In line with this, various technological advancements, such as the integration of the internet of things (IoT) and artificial intelligence (AI) solutions with the connected devices, are favoring the market growth. These technologies assist in real-time monitoring and remote access to security and temperature systems. Moreover, the rising product demand in the healthcare industry is positively impacting the market growth. Smart displays are widely used in hospitals and clinics to display patient information, such as the heart rate, oxygen levels and body temperature. Other factors, including the increasing penetration of high-speed internet across the globe, along with significant growth in the electronics industry, are anticipated to drive the market toward growth.
Continue reading the industry competitive landscape: https://www.giiresearch.com/report/imarc1065972-smart-display-market-global-industry-trends-share.html
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