Market Analysis
Market Research Future (MRFR) presumes the global wearable display market to reach USD 3.16 billion at a whopping 20% CAGR from 2017 to 2023 (forecast period).
A wearable display is a device that is worn on the human body and has powerful sensors that collect and transmit information about its surroundings. Electronic device manufacturers are seeing an increase in demand for relevant and appropriate displays to improve the user experience of wearable products. Smart bands, smartwatches, and head-mounted displays are examples of wearable displays. Transparent screens are another type of display that is projected to be at the heart of the next generation of wearable computing devices. These devices enable the user to view the displayed information at the same time. Google Glass is a brand of smart glasses that is an optical head-mounted display made in the shape of a pair of spectacles and is one of the most well-known examples of this technology. Transparent head-mounted displays allow virtual content to be overlaid on top of real-world objects. The introduction of Internet mobility for wearable electronics has transformed the products by introducing new features.
Users can stay connected with their health and fitness by monitoring their fitness levels with wearable displays such as smart wristbands. Wearable technology is widely used in industries such as infotainment, fitness, military, healthcare & medical, and others.
The expanding use of flexible OLED displays in smartwatches, rising demand for OLED displays in smart wearable devices, and technological shifts and development of energy-efficient and high-specification display products are the primary factors driving the wearable display market. However, constraints such as the high costs related to new display technology-based products and the high-power consumption of wearable devices are impeding the market's growth. Increasing use of AR/VR devices, as well as the development of micro-LED displays for smart wearable devices, are projected to drive this market throughout the forecast period. In contrast, the key difficulty that this sector faces are latency in AR/VR systems.
COVID-19 Impact on the Global Wearable Display Market
COVID-19 is an unprecedented global public health emergency that has affected almost every industry, with long-term effects expected to affect industry growth over the projected period.
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Market Segmentation
The global wearable display market has been segmented into product type, technology, panel type, display size, and vertical.
By product type, the global wearable display market has been segmented into smart bands, smartwatches and head-mounted displays.
By technology, the global wearable display market has been segmented into LED-backlit LCD and OLED.
By panel type, the global wearable display market has been segmented into rigid, flexible and microdisplay.
By display size, the global wearable display market has been segmented into less than 1 inch, 1 to 2 inches, and more than 2 inches.
By vertical, the global wearable display market has been segmented into consumer, military & defense, healthcare, enterprise, commercial and others.
Regional Analysis
The geographical analysis of the global wearable display market is studied for North America, Europe, Asia Pacific, and the rest of the world.
Due to the existence of a substantial number of wearable display panel manufacturers, Asia Pacific is likely to lead the wearable display market, supporting the region's increased acceptance of the latest technology-based display devices. North America is predicted to be the fastest-growing area in this market due to the region's tech-savvy, health-conscious, and affluent population, which is raising demand for wearable technology and boosting the adoption of wearable displays in developed countries such as the US and Canada.
Key Players
The prominent players in the market of the wearable display are Samsung Electronics Co., Ltd. (South Korea), Japan Display (Japan), LG Display (South Korea), Apple (US), AU Optronics (Taiwan), Sharp Corporation (Japan), BOE Technology (China), Truly Semiconductors (China), Tianma Microelectronics (China), Kopin Corporation (US), eMagin Corporation (US), and Hannstar Display (Taiwan).
Other players in the global wearable display market are Varitronix International (China), Lumus Vision (Israel), TCL Display Technology (China), Yunnan OLiGHTEK (China), among others.
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About Market Research Future:
Market Research Future (MRFR) is a global market research firm that takes great pleasure in its services, providing a detailed and reliable study of diverse industries and consumers worldwide. MRFR's methodology integrates proprietary information with different data sources to provide the client with a comprehensive understanding of the current key trends, upcoming events, and the steps to be taken based on those aspects.
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