High demand for smart mirrors from the automotive industry, new and innovative features offered by smart mirrors, increasing number of internet users and growing adoption of smart devices in connected homes according to consumer preferences, surging demand for AI-powered and IoT-enabled smart home appliances, increasing trend of context-aware signage, and growing adoption of smart signage in retail sector are the key driving factors for the smart display market. However, High risks of theft and breach of customer data hampering the growth of the market.
Smart signage to account for largest share
The smart signage market has witnessed various technological advancements and registered remarkable growth over the last few years. Smart signage is among the most demanding and growing platforms that empower many people to access product information and promotions. Various industries are encouraged to deploy smart signage solutions owing to their user-friendly and customer-centric features. Different types of digital signage products, such as displays, media players, and projectors, are used by the retailers for effective interaction with customers. In retail stores, smart signage solutions are used to greet customers, enhance customer shopping experiences, and display advertisements.
North America to account the largest share during 2020-2025
North America expected to hold largest share of the smart display market during forecast period. North America is the leading region in the smart display market. The smart display market in North America is estimated to grow significantly over the next few years. Being technologically advanced and developed, the region is a major adopter of cutting-edge technologies used in the advertisement sector. The smart display market in North America is driven by various factors, such as the high standard of living of customers, the growing need to save time, and the increasing requirement for improved retail services in terms of accuracy and efficiency.
In the current market scenario, the US dominates the smart display market in North America because of its well-established economy that supports the large retail and transportation market. Moreover, the growth of the market in North America can be attributed to increasing investments by leading retail players such as Walmart and Amazon to adopt new technologies such as IoT and remote control for enhancing consumer experience and advertising consumer-specific content.