Smart Display Market: Key insight on major players - Global Forecast to 2025


Posted April 5, 2019 by poojapatange

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 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. 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 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 the potential to revolutionize several applications including home, signage, automotive, and other industries.

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Smart display makers focus on product launches, expansion, and technology agreements to enter into new segments. Amazon launched Echo Show, a smart speaker with display and Alexa voice assistant. Google and Lenovo commercialized the first Google Assistant-powered smart display, which is one of the main product launches in the smart display market. In the automotive smart display mirror market, companies such as Gentex and Magna are focusing on the expansion of facilities. Magna opened a new facility in Slovakia that supplies to 80 different customer locations, and Gentex expanded its facility in Erlenbach, Germany, by 50,000 ft2.

Amazon

Amazon generates revenues from the sales of 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 smart display 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.

The product offered by the company in the smart display market is Amazon Echo Show with Alexa voice assistant. Alexa is a voice assistant developed by Amazon. More than 30,000 skills are available for Alexa from outside developers, and customers can control more than 4,000 smart home devices from 1,200 unique brands with Alexa. Alexa’s spoken language understanding has been improved by more than 25% over the last 12 months through enhancements in Alexa’s machine learning components and the use of semi-supervised learning techniques. With improvement in language understanding, the company is able to serve customers in countries such as India and Japan.

Google

Google has been striving to gain a competitive advantage in the smart display market through various inorganic strategies such as strategic investment and partnership. The company is investing in its Google Assistant platform, which is used in various smart home, consumer, and retail applications.

Looking at the growth in the smart speaker market, the company partnered with Lenovo, LG, JBL, and Sony to fully launch the capabilities of Google assistant platform and commercialize smart displays for home applications. Google also launched an in-house developed smart display operating on Google Assistant in 2018.

Samsung Electronics

Samsung has a strong presence worldwide and offers smart display solutions for various industries such as retail, corporate, entertainment, hospitality, transportation, and education. The company has a strong financial background and invests large amounts in R&D activities. Samsung has a higher R&D budget than competitors, having invested about 7.0% of its total revenue in R&D as of 2017. Samsung has enhanced its smart signage product portfolio by developing all-in-one software solutions that cover the full range of customer needs, including content creation and scheduling, interactive e-board presentations, and in-house hotel media management. Samsung continues to maintain its position through its state-of-the-art technologies that suit a wide range of business needs, including voice-controlled displays and smart signage solutions.

The smart display (voice-controlled display) is manufactured by one of its subsidiaries, JBL (part of Harman Division), and is named as JBL Link View. In March 2017, the company acquired Harman, which designs, and engineers connected products and solutions for automakers, consumers, and enterprises worldwide, including connected car systems, audio and visual products, enterprise automation solutions, and connected services. This acquisition strengthens Samsung’s presence in automotive, home, and consumer electronics segments.

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Issued By Puuja
Country India
Categories Electronics
Tags Smart Display Market
Last Updated April 5, 2019