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.
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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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.
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.
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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.
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