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.
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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 about fatigue and motion sickness. Apart from this, smart helmets equipped with a computer and sensor display have 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 smartwatches, there also have been significant growth in the demand for wearable head up display, and wearable ECU.
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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
- Raytheon
- Foxconn
- 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
- Raontech
- E Ink
- Neovel Technologies.
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