Global wearable display market is projected to witness a CAGR of 19.47% to grow to US$5,445.479 million in 2024 from US$1,872.990 million in 2018. The rising disposable income is pushing the demand for wearable products such as smartwatches and head-mounted display devices. The shipment of fitness bands and other health tracking wearables has been witnessing a steady increase, on account of the demand from a growing proportion of the population that is becoming health conscious. Furthermore, the growing adoption of AR/VR devices along with the incorporation of small LED displays in wearable devices such as smartwatches and fitness band is projected to boost the wearable display market. While technological advancements in wearable technologies are also anticipated to widen up the growth opportunities and drive the wearable display market over the forecast period.
The wearable display market has been segmented on the basis of product type, technology, panel type, industry vertical and geography. By product type, smartwatches along with head mounted display is expected to witness significant growth in the upcoming years owing to the increasing demand for technologically advanced products. By industry vertical, consumer electronics is anticipated to grow substantially on account of the rising demand for electronic devices like smartwatches, smartphones, etc., along with the growing manufacturing of the same in developing countries.
Geographically, the Asia-Pacific region is projected to witness substantial growth on account of the rising disposable income which in turn is leading to increased demand for consumer products including electronics. In addition, various government initiatives in countries like India which promote manufacturing in the country is expected to attract major manufacturers which in turn is anticipated to fuel the market for wearable display in the coming years.
o Increasing adoption of OLED displays in smart watches.
o Growing demand for smartwatches and bands.
o Stringent government regulations.
o In February 2019, Samsung Electronics Co., Ltd. Launched new line-up of Galaxy wearables Galaxy Watch Active and Galaxy Fit.
The major players profiled in the Wearable Display market include Samsung Electronics Co., Ltd., BOE Technology Group Co., Ltd, LG Display Co. Ltd, Kopin Corporation, Au Optronics Corporation, Japan Display Inc., Tianma Microelectronics Co., Ltd., eMagin, Inc., HannStar Display Corporation, and Lumus, Ltd. among others.
The wearable display market has been analyzed through the following segments:
• By Product Type
o Smart Watches
o Smart Bands
o Head-mounted Display
• By Technology
• By Panel Type
• By Industry Vertical
o Consumer Electronics
o Military and Defense
• By Geography
o North America
o South America
o Middle East and Africa
o Asia Pacific