The SAM smart display market is expected to grow from US$ 30.54 million in 2022 to US$ 106.49 million by 2028. It is estimated to grow at a CAGR of 23.1% from 2022 to 2028.
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.
With new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the SAM smart display market at a good CAGR during the forecast period.
The SAM smart display market is segmented on the basis of size, type, resolution, industry, and country.
Based on size, the 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 dominated the market in 2022.
Based on type, the market is segmented into signage, display, and mirror. The display segment dominated the market in 2022.
Based on resolution, the market is segmented into full high definition, ultra-high definition, and others. The full high definition segment dominated the market in 2022.
Based on industry, the market is segmented into consumer & home appliances, automotive, healthcare, retail, and others. The consumer & home appliances segment dominated the market in 2022.
Based on country, the market is segmented into Brazil, Argentina, and the Rest of SAM. Brazil dominated the market in 2022.
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 are the leading companies in the SAM smart display market.