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Smart Display Market | Smart home display market to grow at highest CAGR from 2018 to 2025

 



(IT-NEWSWIRE.COM, August 10, 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.



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“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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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 the leading players in the market.



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