At 37.6% CAGR, the APAC Smart Display Market is projected to be worth US$ 5,669.14 million by 2028, says Business Market Insights           

According to Business Market Insights’ research, the APAC smart display market was valued at US$ 833.83 million in 2022 and is expected to reach US$ 5,669.14 million by 2028, registering an annual growth rate of 37.6% from 2022 to 2028. Increasing smart stores and context-aware smart signage are the critical factors attributed to the market expansion.                        

Advancements such as augmented reality (AR), artificial intelligence (AI), Internet of Things (IoT), and virtual reality (VR) to upgrade customers’ shopping experience and improve operations and inventory management are some of the factors that are providing lucrative opportunities for the growth of smart display market. Augmented reality is especially changing the retail business by allowing brands to communicate directly with customers. A smart display on reception helps customers find solutions as per their requirements without staff intervention. In April 2022, Walmart announced its partnership with Google. This partnership will enable customers to add things to their cart using the Alexa voice command through a phone, speaker, or smart display. Such developments in smart stores will open new opportunities in the smart display market across the region. 

On the contrary, high cost and threat of substitutes hurdles the growth of APAC smart display market. 

Based on size, the APAC smart display market is segmented into up to 12 inches, above 12 inches - up to 32 inches, above 32 inches - up to 52 inches, and above 52 inches. The above 32 inches - up to 52 inches segment held 48.5% market share in 2022, amassing US$ 404.55 million. It is projected to garner US$ 2,922.74 million by 2028 to expand at 39.0% CAGR during 2022–2028.        

Based on type, the APAC smart display market is segmented into signage, display, and mirror. The display segment held 42.4% market share in 2022, amassing US$ 353.36 million. It is projected to garner US$ 2,336.21 million by 2028 to expand at 37.0% CAGR during 2022–2028.            

Based on resolution, the APAC smart display market is segmented into full high definition, ultra-high definition, and others. The full high definition segment held 43.1% market share in 2022, amassing US$ 359.37 million. It is projected to garner US$ 2,638.27 million by 2028 to expand at 39.4% CAGR during 2022–2028.          

Based on industry, the APAC smart display market is segmented into consumer & home appliances, automotive, healthcare, retail, and others. The consumer & home appliances segment held 41.6% market share in 2022, amassing US$ 346.84 million. It is projected to garner US$ 2,470.49 million by 2028 to expand at 38.7% CAGR during 2022–2028.              

  Based on country, the APAC smart display market has been categorised into China, India, Japan, South Korea, Australia and rest of APAC. Our regional analysis states that China captured 41.5% market share in 2022. It was assessed at US$ 345.71 million in 2022 and is likely to hit US$ 2,547.71 million by 2028, exhibiting a CAGR of 39.5% during the forecast period.        

Key players dominating the APAC smart display market are Alphabet Inc.; Amazon.com, Inc.; BenQ Corporation; Lenovo Group Limited; LG Electronics; Magna International Inc; NEXCOM International Co., Ltd.; Panasonic Corporation; Samsung Electronics Co., Ltd.; and Sony Corporation  among others.       

• In 2021, Lenovo has unveiled a new line of ThinkVision large format displays (LFDs) for conference rooms and classrooms. Bright 4K screens, integrated whiteboard software with a comfortable writing experience, built-in speakers, microphones, and a flexible webcam for smarter video conferencing make the ThinkVision T86, T75, and T65 ideal for in-room and remote collaboration.
• In 2021, Sony continues to broaden its varied portfolio of options with the launch of the BZ35J and BZ30J series of 4K HDR BRAVIA Professional Displays. The new options, which build on the previously announced 32-inch FW-32BZ30J model, range in size from 43 to 75 inches to accommodate a variety of corporate and educational environments, from large conference rooms and lecture halls to small meeting rooms and huddle spaces, as well as a variety of digital signage applications.

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