Wearable Display Market to Witness a CAGR of Over 40%
According to latest research by Fact.MR, the wearable displays demand is expected to grow due to the growing demand for wearable electronics. During 2021-2031, the market is expected to showcase a robust growth owing to its expanding applications in consumer devices, military and defense, healthcare, among others.
What is Driving Wearable Display Demand?
Since 1972, after the evolution of first wearable display that was known as digital watches, the wearable display technology has progressed at a rapid pace. In 1975, the world saw the first calculator watch designed by Hewlett Packard.
Although these displays recorded information based on its internal machinery. With the evolution of display technologies that could read, record and display bodily movements and conditions, the need for wearable display came to the fore. Presently, wearable technology includes a range of products including smart bands, activity trackers, smartwatches, head mounted displays, and glasses.
While it has been around a decade since wearable displays have been in the market and becoming progressively mainstream, their utility has led to a swift growth in their penetration. Besides, with the continuous miniaturization, the newer generation of wearable displays have been becoming more functional. It is highly unlikely that the demand of wearable displays will mature any time soon.
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From Portable to Wearable - How Display Technology is Evolving?
Displays are continuously becoming an inherent part of our routine needs. From gadgets such as smartphones and tablets that are portable, the need is routing towards those that can be worn. While smartphones have more functionalities over smart bands and watches, the growing need for application specific devices is expected to take the market for latter ahead. Besides, the evolution of smartwatches with calling features have led to a significant rise in their sales.
How Wearable Display Demand in Healthcare Sector is Expected to Perform?
Wearable display act as a second skin when worn, which increases its functionality in healthcare. Wearable display are a boon for the healthcare providers as besides detecting, they acquire and transmit the physiological signals from patients.
They can capture, record and transmit 30 physiological signals and send report to physicians about the patient’s health status. Apart from smart bands and smartwatches, more application specific devices such as wearable ECG monitors, and wearable blood pressure monitors.
People have started to realize the fact that it is better to be a consumer than to a patient. Understanding that the purchase of wearable displays can save them from several lifestyle diseases, thus also saving on their healthcare expenditure. Owing to these factors, wearable displays are expected to garner significant traction in healthcare sector.
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US & Canada Wearable Display Sales Outlook
U.S. has been at the forefront in the usage of wearable electronics. The market in the country has been growing at over 25%. In the past four year time, the use of wearable displays in the US has grown from 9% to 33%. Besides, with the development of more accurate wearable sensors, the adoption rate of wearable displays in US and Canada is further projected to increase.
Besides healthcare utilities, wearable display has significantly gained momentum in adoption in military. Sustained fatigue is one of the key roadblocks for military, especially Air Force. Therefore, they have been proactively using smartwatches to make aware themselves about fatigue and motion sickness. Apart from this, smart helmets equipped with a computer and sensor display has also gained significant traction in the recent past in the US and Canada wearable display market.
Europe Wearable Displays Sales Outlook
European countries are health conscious and consumers in key countries including Germany, UK, France, Italy and Spain significantly invest on their health monitoring. This makes the regional wearable display expenditure high in the region. Apart from fitness bands and smart watches, there also have been significant growth in the demand for wearable head up display, and wearable ECU.
Who are the Key Manufacturers of Wearable Display?
Wearable display market is moderately fragmented, where companies such as Apple Inc., Samsung Electronics and LG account for a considerable share. Presently, manufacturers from Japan and U.S. dominate the wearable display demand.
Some of the other key wearable display manufacturers include
- AU Optronics
- Japan Display
- BOE Technology
- Tianma Microelectronics
- Kopin Corporation
- Truly Semiconductors
- Emagin Corporation
- Hannstar Display
- Varitronix International
- TCL Display Technology
- Yunnan Olightek
- Lumus Vision. Besides
some of the key innovators in the market include
- Dresden Microdisplay
- Jasper Display
- E Ink
- Neovel Technologies.
An Adaptive Approach to Modern-day Research Needs
Wearable Displays Market Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company
By Product Type
- Smart Bands
- Smart Watches
- Head Mounted Displays
- Wearable ECG
- Smart Helmets
By Display Technology
By Display Size
- Less than 1 inch
- 1 – 2 inches
- More than 2 inches
- Consumer Electronics
- Military & Defense
- North America
- US & Canada
- Latin America
- Brazil, Mexico, Others
- Western Europe
- Eastern Europe
- Asia Pacific
- Australia and New Zealand (ANZ)
- Greater China
- Rest of Asia Pacific
- Middle East and Africa
- GCC Countries
- Other Middle East
- North Africa
- South Africa
- Other Africa
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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