Increasing use of flexible OLED displays in smart watches, rising demand for OLED display for use in smart wearable devices, technological shift and development of energy-efficient and high-specification display products are likely to influence the growth of wearable display market. The technological advancement in wearable electronics, help the user to avail advanced features and characteristics. The ability to connect to the Internet and enable data to be exchanged between a network and a device is one of the most major features of wearable technology. Major factor driving this market are the advancements in R&D causing increased innovation and demand to incorporate high technology and design in devices. Rising awareness about the OLED technology among consumers has prompted manufacturers of smart wearable devices to incorporate this technology in their offerings. Increasing use of AR HMDs in enterprise and industrial applications is expected to drive the growth of the market for OLED-based head-mounted displays.
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Global Wearable Display Market Research Report, Product (Smart Bands, Head Mounted Display), Display Technology (LED-Backlit LCD, OLED), Panel (Rigid, Flexible), Display Size (1 to 2 inches, More than 2 inches), Vertical (Gaming, Military & Defense) — Global Forecast till 2023
Wearable Display Market Research Report – Forecast to 2023
The global market for wearable display is estimated to grow at a significant rate during the forecast period from 2018 to 2023. The geographical analysis of wearable display market is covered for North America, Europe, Asia-Pacific, and the rest of the world. Asia-Pacific is expected to dominate the market owing to the presence of a significant number of wearable display panel manufacturers and increasing adoption of the latest technology-based display devices. Moreover, this region comprises both developed and developing countries, hence it is witnessing major changes in the adoption of new technologies and advancements. In North America, the increasing demand of consumers for communication and image recognition technologies in compact and portable forms, developments in material science, augmented reality and low power inter-device connectivity (Bluetooth 4.0, infrared, and NFC) are the factors that are likely to enhance the wearable display market.
The prominent players in the market of wearable display are Samsung Electronics Co., Ltd. (South Korea), LG Display (South Korea), Apple (US), 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).
Other players in the wearable display market are Varitronix International (China), TCL Display Technology (China), Yunnan OLiGHTEK (China), Lumus Vision (Israel) among others.
By product type, the market is segmented into smart bands, smart watches, and head-mounted displays. Among these, the market is dominated by the head-mounted displays. Increasing use of augmented reality (AR) head-mounted displays and smart glasses in enterprises and industrial applications is expected to drive the growth of the market for OLED-based head-mounted displays.
By technology, the market is segmented into LED-backlit LCD and OLED. Among these, the market is dominated by the OLED segment. Increasing use of flexible OLED displays in smart watches and rising demand for OLED displays in smart wearable devices are the major factors driving the growth of the market.
By panel type, the market is segmented into rigid, flexible, and microdisplay. With the increasing adoption of AR/VR devices and the development of micro-LED displays for smart wearable devices, the market is expected to witness a significant growth during the forecast period.
By display size, the market is segmented into less than 1 inch, 1 to 2 inches, and more than 2 inches. Among these, the market is dominated by more than 2 inches segment as there is more demand for HMDs whose display size is more than 2 inches.
By vertical, the market is segmented into consumer, military & defense, healthcare, enterprise, commercial, and others. Among these, the market dominated by the healthcare sector. Decrease in sensor prices, real-time data collection, and improvement in the quality of gathered information has led to the higher penetration of wearable displays in healthcare. Moreover, it has major applications in areas of VR healthcare which includes game-based rehabilitation, mental and behavioral health training, and neurocognitive assessment & training.
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