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.
On the basis of product type, the wearable display market has been segmented into smartwatches, smart bands, and head-mounted displays.
On the basis of technology, the segments of the wearable display market are LED-backlit LCD and OLED.
Based on panel type, the segmentation of the wearable display market covers flexible, rigid, and microdisplay.
On the basis of display size, the wearable display market has been segmented into 1 to 2 inches, less than 1 inch, and more than 2 inches.
Based on vertical, the segments of the wearable display market are military & defense, consumer, healthcare, commercial, enterprise, and others.
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.
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