According to the new research report on "Smart Display Market Forecast to 2028- COVID-19 Impact and Global Analysis," published by The Insight Partners, the smart display market share is expected to reach US$ 11,547.23 million by 2028, registering a CAGR of 36.0% from 2022 to 2028.
The MEA smart display market is divided into four regions: South Africa, Saudi Arabia, the UAE, and the Rest of the MEA. The region has experienced significant industrialization, leading to a boost in the economy. While Gulf countries are economically advanced, African countries are still striving to balance their economic conditions. Moreover, several governments in the region allocate their IT budgets towards advanced technologies such as the Internet of Things (IoT) to support the development of smart cities, leading to increased adoption of smart homes. For example, the Dubai government encourages smart development initiatives, driving the growth of the smart display market in the region. The COVID-19 pandemic accelerated the growth of the MEA smart display market as people were forced to stay at home and increased their use of technology for entertainment and other purposes. Major players such as Samsung Electronics, HTC, and Schneider Electric are driving the growth of the smart display market by offering various smart display solutions for industries such as healthcare, automobile, education, and entertainment. Additionally, Saudi Arabia's major industries, including healthcare and tourism, are end-users of smart displays, contributing to the growth of the smart display market. The adoption or upgrade of new technologies influences people to match the changing environment, and the growth in these industries subsequently drives the growth of the smart display market.
The Middle East and Africa market includes the UAE, Egypt, Morocco, and Kuwait, which were negatively impacted by the COVID-19 pandemic. Many operations in the region were suspended due to increased COVID-19 cases, and the tourism sector suffered significant economic losses due to the international travel ban. As a result, demand for consumer electronics and automotive products decreased, leading to a notable impact on the demand for respective smart displays. Additionally, end-users in the region heavily rely on international suppliers and faced significant supply chain disruptions during Q2 of 2020. However, in the beginning of Q3 of 2020, the demand for various semiconductor products, including smart displays, increased among end-users due to the resumption of operations.
The smart display market analysis is segmented into coverage size, type, resolution, and industry. Based on coverage size, the smart display market is further segmented into up to 12 Inches, above 12 inches - up to 32 inches, above 32 inches - up to 52 inches, and above 52 inches. On the basis of type, the smart display market is segmented into signage, display, and mirror. Based on resolution, the market is segmented into full high definition, ultra high definition, and others. On the basis of industry, the market is segmented into consumer & home appliances, automotive, healthcare, retail, and others.
Key Findings of Market Study:
The smart display market has several key stakeholders, including component providers, OEMs, system integrators, distributors, and end-users. Component providers, such as LG, Lenovo, and JBL, offer various components like displays, speakers, and microphones that are used to manufacture complete smart display solutions. These components are then assembled using advanced technologies such as IoT, AI, and voice assistants. System integrators like Google, Amazon, Panasonic Corporation, Samsung Electronics Co., Ltd., and others, play a crucial role in producing smart displays, as they provide enhanced security and access control over traditional display solutions. After the smart display is manufactured, it is installed and commissioned by the system integrators before being procured by end-users, who may purchase it directly from the manufacturers or through third-party channels like distributors or traders. The end-user category includes retail, automotive, healthcare, residential, electronics, and academic institutions.
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