Report : Europe Smart Display Market Forecast to 2028 – COVID-19 Impact and Analysis – by Size (Up to 12 Inches, Above 12 Inches - Up to 32 Inches, Above 32 Inches - Up to 52 Inches, and Above 52 Inches), Type (Signage, Display, and Mirror), Resolution (Full High Definition, Ultra High Definition, and Others), and Industry (Consumer & Home Appliances, Automotive, Healthcare, Retail, and Others)
At 33.9% CAGR, the Europe Smart Display Market is speculated to be worth US$ 2,286.21 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the Europe smart display market was valued at US$ 396.41 million in 2022 and is expected to reach US$ 2,286.21 million by 2028, registering an annual growth rate of 33.9% from 2022 to 2028. Presence of popular brands and technological advancements are the critical factors attributed to the market expansion.
Once customers are used to a particular brand’s product, they purchase other products from the same brand. Some well-known brands, such as Google; Amazon, Inc.; Bosch; Panasonic; BenQ Corporation; LG Electronics; Lenovo Group, Ltd.; Samsung Corporation; and Sony Corporation, offer various smart display solutions for automobiles, healthcare, residential, and retail industries. These brands effortlessly attract their loyal customers and are a major driving factor for the growth of the smart display market. The smart display market players sometimes promote their products before the launch to create hype among customers. For instance, In March 2022, Xiaomi’s smart display 10 was listed on multiple websites, however the product was launched in April 2022. In January 2022, Google launched its 2nd generation Google Nest Hub smart display. In June 2021, Amazon launched 2 new smart display products, the Echo show 10 and 5. Thus, the rising popularity of the brands is driving the growth of the smart display market across the region.
On the contrary, high cost and threat of substitutes hurdles the growth of Europe smart display market.
Based on size, the Europe 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 48.3% market share in 2022, amassing US$ 191.56 million. It is projected to garner US$ 1,177.66 million by 2028 to expand at 35.3% CAGR during 2022–2028.
Based on type, the Europe smart display market is segmented into signage, display, and mirror. The display segment held 43.7% market share in 2022, amassing US$ 173.09 million. It is projected to garner US$ 971.68 million by 2028 to expand at 33.3% CAGR during 2022–2028.
Based on resolution, the Europe smart display market is segmented into full high definition, ultra-high definition, and others. The full high definition segment held 42.1% market share in 2022, amassing US$ 167.07 million. It is projected to garner US$ 1,057.12 million by 2028 to expand at 36.0% CAGR during 2022–2028. Based on industry, the Europe smart display market is segmented into consumer & home appliances, automotive, healthcare, retail, and others. The consumer & home appliances segment held 38.9% market share in 2022, amassing US$ 154.05 million. It is projected to garner US$ 931.27 million by 2028 to expand at 35.0% CAGR during 2022–2028.
Based on country, the Europe smart display market has been categorised into the UK, Germany, France, Italy, Russia, and rest of Europe. Our regional analysis states that Germany captured 29.5% market share in 2022. It was assessed at US$ 117.08 million in 2022 and is likely to hit US$ 757.38 million by 2028, exhibiting a CAGR of 36.5% during the forecast period.
Key players dominating the Europe 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 2022, Division of Alphabet Inc., Google is constantly attempting to improve its smart displays by adding new capabilities. GOOGLE reportedly incorporated a "Look and Talk" feature to the Nest Hub Max smart display. Users can utilize this feature to activate the microphone for orders without using the "Hey Google" keyword by looking at the onboard camera.
- 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.
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