(EMAILWIRE.COM, September 25, 2019 ) The global smart display market is expected to grow from USD 861 million in 2018 to USD 6,665 million by 2025, at a CAGR of 34.0%. The market has been segmented into 3 separate markets—smart home displays, smart display mirrors, and smart signage.

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Smart displays are intelligent solutions that can be controlled through simple voice commands, remote devices, or with the help of IoT connectivity and artificial intelligence. Smart displays are referred to as emerging display applications where manufacturers add interactive and advanced control features to the display devices. This offers new growth opportunities for display panel manufacturers, technology developers, signage solution providers, and OEMs. These devices are emerging use cases of displays and have potential to revolutionize several applications including home, signage, automotive, and other industries.

Factors such as the success of smart speakers as the gateway to smart home gadgets, availability of multiple voice assistants, and implementation of AI in smart home devices and increasing demand for IoT-enabled smart appliances are driving the global smart home display market. Factors such as new and innovative features offered by smart mirrors, transition from traditional stores to smart stores in the retail industry, and increasing demand for smart display mirrors in the automotive industry are driving the global smart display mirror market. Factors such as increasing demand for context-aware signage and customer data analysis to enable AI-based smart signage are driving the smart signage market.

“Smart home display market to grow at highest CAGR from 2018 to 2025”

The smart home display market is expected to grow at the highest CAGR during the forecast period (2018—2025). The growth in this segment is expected to happen rapidly in 2018, 2019, and 2020. There are 2 major types of smart home display devices that are currently commercialized—voice-controlled display/assistant smart display and smart appliance display. Being a consumer device, higher growth in voice-controlled smart displays is estimated in the next 3 years considering the trends of smart speakers in the last 3 years. Whereas, the majority of growth in the smart appliance display system market is expected to happen from refrigerators during the forecast period.

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“Automotive segment to account for largest share in smart display mirror market during forecast period”

The automotive segment in the smart display mirror market is expected to account for the largest share through 2025, driven by both aftermarket and OEM-fitted rearview mirrors. The increasing demand from consumers for driving comfort and safety features in cars has created an opportunity for automakers to embed the display panel in the rearview and side-view mirrors. Currently, rearview mirrors are offered in both aftermarket and OEM-fitted cases. For aftermarket, companies such as Xiaomi and Junsun offer rearview display mirrors, while for OEM-fitted case, companies such as Gentex and Magna offer rearview display mirrors. Rearview display mirrors are OEM-fitted in GM, Nissan, Toyota, and Jaguar Land Rover; however, a majority of the smart display mirrors are shipped in the aftermarket segment and a minor portion is in OEM-fitted segment.

“Europe accounted for largest share in automotive smart display mirror market”

Europe is home to major automobile manufacturers such as Volkswagen (Germany), BMW (Germany), and Daimler (Germany), which is expected to create significant demand for smart display mirrors. Consumer demand for connected mirrors is also growing due to increasing focus on vehicle safety and convenience, which is driving the automotive smart display mirror market in the region.

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Key Market Players

Amazon.com, Inc (Amazon) (US), Google, LLC (Alphabet, Google) (US), Facebook, Inc (Facebook) (US), Samsung Electronics Co., Ltd. (Samsung, Samsung Display) (South Korea), LG Electronics Co. Ltd, (LG Electronics, LG Display, LGD) (South Korea), Sony Corporation (Sony) (Japan), NEC Corporation (NEC Corp., NEC) (Japan), Gentex Corporation (Gentex) (US), Magna International, Inc. (Magna Mirror, Magna) (US) and Apple Inc. (Apple) (US) are among the few players in the smart display market.

Amazon has deep roots in electronics and other general merchandise through its e-commerce platform. This reflects the company’s geographic reach and distribution channels. In the smart display market, the company relies on its marketing strategy to increase its market share for Amazon Echo Show. The company is known for its service and product reliability, which is an advantage going forward in the market. With the success of its smart speakers—Echo Series, the company expects high growth from Echo Show due to scope for wider acceptability considering the interoperability with other display devices present in the market.

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