Global Wearable Display Market Estimated to Expand at a Substantial CAGR of 19.5% 2024
Market Snapshot
Global wearable display market is estimated to expand at a substantial CAGR of 19.5% during the period 2019-2024 as the scope, product types, and its applications are increasing across the globe. This could be credited to an increasing utility of OLED displays all over smart wearable devices along with growing adoption of VR (Virtual reality) and AR (Augmented Reality) headsets. The advantages of these displays include better viewing angles, excellent contrast, and sharp color performance.
Market Scope
IoT services along with connected devices have compelled the producers to render them in the wearable. This factor is expected to bolster the market in the near future. However, high initial cost is likely to hamper the market. The latest trend is that of the advent of HMD (Head Mounted Displays). They are in great demand in the defense sector to train, simulate, track, and analyze military maneuvers. The other areas of presence in the same sector include situational awareness, night vision system, security monitoring, navigation, inspection, remotely-piloted vehicle interfaces, and visual enhancements. The other verticals where wearable display is making a beeline include automotive and firefighting, logistics, automotive, and engineering.
Market Insights
The “healthcare” sector is the second most dominating sector in wearable display market. This is due to the fact that it does account for high usage and attractiveness. Wearable display devices do aid in tracking calories. The Asia Pacific is expected to witness an exorbitant growth by 2025 as several manufacturers are shifting their base to the economies herein. Besides, an exponential demand for smartphones and internet mobility do hold the hopes high for Asia Pacific.
Market Segmentation
The wearable display market is segmented as per type of product, display technology, type of panel, and geography. By product type, the market spans head-mounted displays, smartwatches, and smart bands. By panel type, it says microdisplay, flexible, and rigid. By display technology, it comprises OLED and LED-backlit LCD. By geography, it consists of North America, Europe, Asia Pacific, LATAM, and MEA.
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Players
The players contributing to the market include AU Optronics, BOE Technology, Apple Inc., Sharp, Kopin Corporation, Hannstar Display, Truly Semiconductors, Tianma Electronics, Japan Display, and LG Display.
The analysts forecast the global wearable display market to exhibit a CAGR of 19.5% during the period 2019-2024. The report covers the present scenario and the growth prospects of the global wearable display for 2019-2024. To calculate the market size, the report considers the wearable display sales volume and revenue.
The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: regional markets, product, and application.
Geographically, the global wearable display market is segmented into North America, Asia Pacific, Europe, Middle East & Africa and South America. This report forecasts revenue growth at a global, regional & country level, and provides an analysis of the market trends in each of the sub-segments from 2019 to 2024.
- North America (U.S., Canada, Mexico, etc.)
- Asia-Pacific (China, Japan, India, Korea, Australia, Indonesia, Taiwan, Thailand, etc.)
- Europe (Germany, UK, France, Italy, Russia, Spain, etc.)
- Middle East & Africa (Turkey, Saudi Arabia, Iran, Egypt, Nigeria, UAE, Israel, South Africa, etc.)
- South America (Brazil, Argentina, Colombia, Chile, Venezuela, Peru, etc.)
On the basis of product, the global wearable display market is segmented into:
- Smart Bands
- Smartwatches
- Head-Mounted Displays
Based on application, the wearable display market is segmented into:
- Consumer
- Healthcare
- Commercial
- Military & Defense
The report also includes a discussion of the key vendors operating in this market. Some of the leading players in the global wearable display market are:
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- Samsung Electronics Co. Ltd.
- LG Electronics, Inc.
- AU Optronics Corp.
- BOE Technology Group Co. Ltd.
- Japan Display Inc.
- Foxconn Technology Group (Sharp Corporation)
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Objective of the study:
- To analyze and forecast the market size of global wearable display market.
- To classify and forecast global wearable display market based on region, product, and application.
- To identify drivers and challenges for global wearable display market.
- To examine competitive developments such as expansions, mergers & acquisitions, etc., in global wearable display market.
- To conduct pricing analysis for global wearable display market.
- To identify and analyze the profile of leading players operating in global wearable display market.
The report is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
Key target audience are:
- Manufacturers of wearable display
- Raw material suppliers
- Market research and consulting firms
- Government bodies such as regulating authorities and policy makers
- Organizations, forums and alliances related to wearable display
The information contained in this report is based upon both primary and secondary sources. Primary research included interviews with wearable display suppliers and industry experts. Secondary research included an exhaustive search of relevant publications like company annual reports, financial reports, and proprietary databases.
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