The
wearable
display market is expected to be
valued at USD 1.34 Billion in 2018 and is likely to reach USD 3.37 Billion by
2023, at a CAGR of 20.33% between 2018 and 2023. 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 some of the major factors driving the
growth of the market. 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.
The
report covers the market by display technology, panel type, product type,
display size (diagonal), vertical, and geography. Head-mounted displays are
likely to hold the largest share of the wearable display market, by product
type, throughout the forecast period. Increasing use of AR HMDs or smart
glasses in enterprise and industry applications is expected to drive the growth
of the market for OLED-based head mounted displays. Moreover, AR can be used to
teach complex maintenance procedures for factory equipment overlaying
animation-based instructions and reference materials directly onto the physical
gear. Many AR HMD or smart glass manufacturers are expected to target the
enterprise and industry segment in the coming years.
The
wearable display market in APAC is expected to grow at the highest rate during
the forecast period owing to the presence of major display panel and brand
product manufacturers in the region companies usually launch their products or
technologies in their respective regions. Early exposure of the latest display
products is driving the growth of the market in APAC.
However,
the high cost associated with new display technology-based products and high
power consumption by wearable devices are restraining the growth of the
wearable display market. The fluctuating average selling price of panels poses
a major challenge for display panel manufacturers. This report discusses the
drivers, restraints, opportunities, and challenges pertaining to the wearable
display market; analyzes the current market scenario; and forecasts market size
till 2023.
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Major
companies operating 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),
Hannstar Display (Taiwan), Varitronix International (China), TCL Display
Technology (China), Yunnan OLiGHTEK (China), Lumus Vision (Israel), Dresden
Microdisplay (Germany), Jasper Display (Taiwan), Raontech (South Korea), E Ink
(Taiwan), and Neovel Technologies (US).
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