Global Smart Display Market is expected to reach USD 48.02 billion by 2030

The rising advancements in the healthcare and telemedicine industry are driving the growth of the smart display market.

The Global Smart Display Market was valued at USD 16.45 billion in 2022, and is predicted to reach USD 48.02 billion by 2030, with a CAGR of 15.4% from 2023 to 2030, according to new research by Next Move Strategy Consulting.

The smart display market is experiencing a notable growth, propelled by the rising adoption of these devices in the healthcare and telemedicine domains. Smart displays have proven to be revolutionary tools within the healthcare industry, as they facilitate various applications such as remote patient monitoring, telehealth consultations, and efficient communication among medical professionals.

These devices enable high-quality video conferencing and provide a visual platform for healthcare providers to conduct real-time patient assessments, exchange medical records, and discuss treatment plans. The utilization of smart displays is particularly important in expanding access to healthcare services, especially in remote or underserved areas and during public health crises such as the COVID-19 pandemic.

Moreover, the integration of artificial intelligence (AI) and medical software into smart displays enhances their capabilities for precise diagnostics and efficient management of patient data. As healthcare providers and institutions increasingly recognize the significance of smart displays in ensuring more efficient and accessible healthcare delivery, the utilization of these devices is poised to become a driving force for the growth of the smart display market, especially within the healthcare and telemedicine sectors. 

For instance, a noteworthy development occurred in March 2023. Samsung Electronics America unveiled the industry's first 4K QLED Smart Healthcare TV. Developed in collaboration with ShareSafe, this groundbreaking product transforms in-room displays into versatile communication hubs. These hubs can be personalized for hospital patients and senior care residents. This innovation improved collaboration, increased patient engagement, and enhanced workflow efficiency within healthcare settings.

Furthermore, the surging demand for smart home solutions plays a pivotal role in propelling the growth of the smart display market. Smart displays have become a pivotal element in this transformation, driven by consumers' growing desire to avail convenience, security, and energy efficiency in their homes. These devices serve as user-friendly central hubs for managing a variety of smart home appliances, including thermostats, lighting systems, security cameras, and doorbell cameras.

Leveraging interactive touchscreens and voice-activated capabilities, smart displays offer users a seamless means to command and oversee their interconnected devices, simplifying the management and customization of their living spaces. This demand for smart displays closely aligns with the burgeoning smart home ecosystem.

However, security vulnerabilities in smart display technology pose a notable restraint for the smart display market. On the contrary, the advent of laser-based display technology introduces considerable opportunities in the smart display market. This technology offers outstanding brightness, color accuracy, long-lasting durability, and energy efficiency position. It has become a preferred choice for various applications. As this technology becomes more accessible and cost-effective, it will open up new prospects for the coming years.

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According to the report, leading market players operating in the smart display market include Samsung Electronics, Qisda Corporation (BenQ), LG Corporation, Sharp NEC Display Solutions (NEC Corporation), Lenovo Group Limited, Alpine Electronics, Inc. (Alps Alpine Co., Ltd.), Sony Corporation, Google, Inc., Leyard Optoelectronic Co., and Amazon.com, Inc., and others.

For instance, in August 2023, LG Electronics launched the LG StandbyME Go, a cutting-edge addition to the smart display market. This 27-inch portable touchscreen display combines military-grade durability with enhanced audio and adjustable viewing angles, making it suitable for indoor and outdoor use.

Also, in October 2023, BenQ, a subsidiary of Qisda Corporation, launched India's first Google EDLA-certified smart boards with integrated Google Mobile Services (GMS). The smart boards are BenQ Board Pro RP04 and BenQ Board Master RM04. These are fully integrated with Google Mobile Services (GMS) and officially certified under the Google Enterprise Devices Licensing Agreement (EDLA).

Key Insights from the Smart Display Market Report:

• The information related to key drivers, restraints, and opportunities and their impact on the smart display market is provided in the report.

• The value chain analysis in the market study provides a clear picture of the roles of each stakeholder.

• The market share of key players in the global smart display market along with their competitive analysis are provided in the report.

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