• 出版社/出版日：Mordor Intelligence / 2021年1月
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The smart display market is expected to register a CAGR of 32% during the forecast period of 2021 – 2026. The rapidly growing demand for smart and connected home products is encouraging the manufacturers in the market to add new functionality, greater reliability, and higher product utilization to their offering. This factor is expected to drive the growth of the market during the forecast period.
– The increasing demand for smart home devices drives the market. According to the Malaysian Investment Development Authority (MIDA) 2020, on a global scale, the smart home market has been valued at USD 55.65 billion as of the end of 2015. By 2030, this number is expected to reach about USD 400 billion. At this point, the sales of smart home devices will account for 40% of the total sales of all household devices.
– Further, from January 2018 to May 2019, the number of smart home devices supported by Google Assistant increased from about 1,500 to 30,000, according to Google. The increase in the number of smart home devices encouraged other vendors to invest in display technology. Also, the survey data by Forbes shows that there were more than 45 million smart home devices in the US alone by the end of 2018, accounting for about 22% year to year growth. In terms of the revenue of the smart device manufacturers, a total of USD 20 billion have been spent on smart home devices or about USD 490 per home. The above factors significantly hold the market growth for smart display in the coming period.
– However, the high cost of advanced smart displays in some cases and the threat to cybersecurity are the factors expected to hinder the growth of the market during the forecast period.
– Moreover, with the recent outbreak of Covid-19, the demand for voice-enabled smart display reduced in the sales, owing to reduced customer spending on electronics and other non-essential goods. However, the sales for smart displays are expected to return to normal in the second half of 2020.
– In the context of COVID19, Chinese tech giant Baidu announced that it is lending its aid to those working to stop the recent coronavirus outbreak. Among other efforts, Baidu donated some Xiaodu smart displays to medical personnel in Wuhan, where the coronavirus began its spread, to keep them connected to their families. As the number of people infected with the coronavirus continues to climb, Baidu is applying its AI technology to fighting it in less direct ways on top of the smart display donation and telemedicine.
Key Market Trends
Connected Device to Support Growth
– The increasing penetration of the Internet of Things is one of the major factors driving the adoption of smart home devices and contributing to the transition of homes (from traditional to a smart one). Thus, the adoption of smart home devices is expected to fuel the demand for smart displays in smart homes.
– Players are increasingly expanding their products geographically, which caters to the market growth. For instance, in India, in May 2019, Amazon announced the Echo Show 5, which is a toned-down version of the company’s own Echo Show smart display. The Echo Show 5 essentially brings a smart display to lower price segments while still offering the added benefits that come from having a screen powered by Alexa.
– Amazon Echo Show 5 is priced at INR 8,999 and was already up for pre-orders on Amazon India during the initial days of release. Besides, the company is also bringing in a new feature that will let a user delete their voice recordings across all Alexa devices. This significantly drives the market in the region of India.
– Further, according to the Consumer Technology Association, the sales of smart home devices in the United States were 1.3 USD billion and 4.5 USD billion. The increased demand for smart home devices is one of the major factors contributing to the growth of the smart display market.
– Also, the installed user base for voice -interactive smart displays among US adults rose 558 % in 2018, according to a national survey by Voicify, a Voice Experience Platform. At the end of 2018, there were about 8 . 7 million smart display owners in the US, and over the past nine months, that has risen significantly. In the region, smart speaker incumbents, including Amazon and Google, lead in terms of smart display users, while Facebook has a little over 200,000 users in the region.
– Further, in September 2019, Google announced its sale for Google Nest Hub Max in the United States. The device was officially unveiled back in May, but it did not receive a release date. This device features 10-inch smart display to the consumers market with available purchase for USD 229.
– Moreover, multiple factors, such as the success of smart speakers, contributed to the increased adoption of smart home gadgets. The increasing availability of various voice assistants, the implementation of AI in multiple smart home devices, and the rapidly increasing demand for the IoT-enabled smart appliances are the factors that are expected to drive the growth of the smart display market.
Asia- Pacific to is Expected to Witness Significant Growth
– The Asia-Pacific region is expected to witness significant growth during the forecast period, primarily owing to the increasing production of consumer electronics and the growing demand for wireless connectivity among multiple devices. The companies in these regions are focusing on product innovation and investment and are launching their products in order to achieve a competitive advantage in the smart display market.
– In May 2020, Chinese tech giant Alibaba announced to spend YUAN 10 billion (USD 1.4 billion) in developing the next generation of technology for its Tmall Genie voice assistant. Alibaba has been stepping up its investment in its voice assistant and smart speaker technology at a steady clip since releasing the first Tmall Genie smart speaker in 2017. The most recent Tmall Genie is a 10-inch smart display costing about USD 77, notably cheaper than a similarly sized Amazon or Google smart display, but with far fewer voice apps and third-party tech integrations.
– Moreover, in recognition of its user base, Baidu, Inc. unveiled the Xiaodu Smart Display X8, customized for the evolving needs of China’s households with advanced AI-powered interaction capabilities and an enhanced Children’s Mode.
– The Xiaodu Smart Display X8 is equipped with a suite of upgraded AI-powered functions that allow users to interface seamlessly with the device, including full-duplex continued conversation, far-field voice interaction, facial recognition, hand gesture control, and eye gesture detection. The X8 boasts extensive new content services ecosystem for family entertainment, which includes home feed, videos, live streaming, music, games, and online education programs for children of different ages.
– With the launch of the new product, expansion, and investment, the region caters to significant market growth.
The smart display market is moderately concentrated in nature as some of the major players hold a substantial market share in the market. The demand for advanced features in smart displays is expected to offer opportunities for the growth of the market. This factor is also encouraging new companies to enter the market. The companies are launching new products and are collaborating with other companies to expand their presence. Key players are Amazon.com, Inc, Google, LLC, etc. Few recent developments are:
– June 2020 – Google announced that its smart displays, a flagship Nest Hub Max would soon be able to access Accelerated Mobile Page (AMP) web articles. The smart display users will be able to read full AMP news articles on their device instead of watching a video or listening to a specially created audio-clip made for smart home tech.
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1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Demand of Smart Home Devices
4.3 Market Restraints
4.3.1 High Cost and Limited Set of Vocabulary
4.4 Industry Value Chain Analysis
4.5 Industry Attractiveness – Porter’s Five Force Analysis
4.5.1 Threat of New Entrants
4.5.2 Bargaining Power of Buyers/Consumers
4.5.3 Bargaining Power of Suppliers
4.5.4 Threat of Substitute Products
4.5.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 Smart Display Shipments by Voice Assistant(Google | Alexa etc.) (in million units)
5.2 Smart Display Shipments by Region (in million units)
5.2.1 North America
5.2.4 Rest of World
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Amazon.com Inc.
6.1.2 Google LLC
6.1.3 Facebook Inc.
6.1.4 JBL ( Harman International)
6.1.5 Lenovo Group Limited
6.1.6 Baidu Inc.
6.1.7 LG Electronics Inc.
7 INVESTMENT ANALYSIS
8 MARKET OPPORTUNITIES AND FUTURE TRENDS