According to the new research report "Wearable Display Market by Product Type (Smart Bands, Smartwatches,
Head-Mounted Displays), Display Technology (LED-Backlit LCD, OLED), Panel Type
(Rigid, Flexible, Microdisplay), Display Size, Vertical, and Geography - Global
Forecast to 2023", the
wearable display market, the market is expected to reach USD 3.37 Billion by
2023 from USD 1.34 Billion in 2018, at a CAGR of 20.33% between 2018 and 2023.
The increased use of flexible OLED displays in smartwatches, rising demand for
OLED display for use in smart wearable devices, and technological shift and development
of energy-efficient and high-specification display products are the major
factors driving the growth of the market.
Head-mounted
displays to hold the largest share of the wearable display market throughout
the forecast period
The market for HMDs is likely to grow at a
high CAGR between 2018 and 2023 due to their expected use in various upcoming
applications. The major application areas of VR healthcare include game-based
rehabilitation, mental and behavioral health, neurocognitive assessment and training,
and virtual humans. Displays such as OLED and LCDs are increasingly being used
in AR/VR devices as they offer reduced response time and better time latency
compared with older technologies.
Market for
OLED display technology to grow at a higher rate during the forecast period
OLED display panels offer advantages such as
small thin form factor, sharp color performance, and low power consumption over
LCD panels. OLED-based displays also offer higher refresh rates, better viewing
angle, and excellent contrast. Rising awareness about the OLED technology among
consumers has prompted makers of smart wearable devices to incorporate this
technology in their offerings. These factors are driving the growth of the
market for OLED-based wearable displays.
Asia Pacific
to hold the major share of the wearable display market throughout the forecast
period
Applications such as consumer electronics,
industrial, healthcare, and military contribute significantly to the growth of
the wearable display market in APAC. The region has become a global focal point
for huge investments and business expansions. The region comprises both
developed and developing countries; hence it is witnessing major changes in the
adoption of new technologies and advancements. Due to the presence of a
significant number of wearable display panel manufacturers in the region, there
is an increasing adoption of the latest technology-based display devices in
APAC.
Major players in the market are Samsung
Electronics (South Korea), LG Display (South Korea), AU Optronics (Taiwan),
Japan Display (Japan), Sharp (Japan), BOE Technology (China), Tianma
Microelectronics (China), Kopin Corporation (US), Truly Semiconductors (China),
eMagin Corporation (US), and Hannstar Display (Taiwan), among others.
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