Growing Demand for Transparent Displays for Utilization in Head-Mounted Displays and Head-Up Displays
For application in automotive, sports & entertainment, aerospace & defense along with healthcare amongst others. The consumers viewing graphical content in these types of displays are highly influenced with their viewing behavior owing to the innovative and eye-catching impact provided by the transparent displays. With advancements in display technology and displays, OLED has emerged as one of the dynamic display technologies that are widely used in various consumer electronic appliances and personal gadgets, ranging from smart wearables, glasses as well as AR/VR head-mounted displays. Driven by the advancement in IT infrastructure and IoT products, the adoption of the advanced technological gadgets, such as HMDs, has observed significant growth, especially in the automotive, consumer entertainment, medical and education applications for students. Such a factor is anticipated to raise the demand for increasing adoption of transparent displays in HMDs and HUDs, and in turn the growth of the global transparent display market.
Increasing Opportunities in the Advertisement Industry
The advertisement industry is anticipated to be one of the key sectors where the adoption of transparent displays will grow over the years to come owing to the demand for advanced technological products that help businesses achieve an augmented growth. Luxury products demand advertising needs that help consumers connect to the brand. As such, transparent displays can be widely used for advertisement of such luxury products, which can provide the consumer a feeling of luxury, which in turn is anticipated to help the consumer connect to the brand greatly. Premium products belonging to industries such as automotive, gems & jewelry, consumer appliances and consumer appliances amongst others, are anticipated to adopt widely transparent displays, which in turn is estimated to drive the growth of the global transparent display market.
The global transparent display market is thriving on the back of growing technological advancements for displays and display technologies throughout the years that aim to deliver high resolution visualization at a lower rate of power consumption. Additionally, growing advancements in augmented reality and the rising adoption of augmented reality solutions across businesses are some of the factors anticipated to contribute towards the growth of the global transparent display market. The market is anticipated to achieve a robust CAGR over the forecast period 2021-2028. The global transparent display market is segmented by display technology into LCD, OLED and others. The OLED display technology segment is anticipated to hold the largest market share owing to the numerous advantages of OLED display technology over LCD display technology, such as high natural color gamut, high contrast ratio, thin display panels, available in flexible form factors and high response time amongst others.
High cost associated with transparent displays during the period of launch of the technology, followed by the trend observed in the electronics industry by the sharp drop in the prices of the goods, affecting the profitability of the manufacturer of the consumer electronic goods are some of the factors anticipated to impact negatively towards the growth of the global transparent display market.
Our in-depth analysis of the global transparent display market includes the following segments:
By Product Type
By Display Size
By Display Technology
On the basis of regional analysis, the global transparent display market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
The transparent display market in Asia Pacific region is anticipated to hold the largest market share, primarily driven by nations such as China, India, Japan and south Korea, owing to the rapid advancements in electronic goods observed in these nations, especially China, where there are ample opportunities for transparent displays. Additionally, the region is also known to be a manufacturing hub for different consumer electronic products, where there is probability for the use of transparent displays, which is also one of the major factors anticipated to drive the growth of the Asia Pacific transparent display market.
The global transparent display market is further classified on the basis of region as follows:
April 2020: LG electronics announced the release of the touchscreen capability on its Transparent OLED display and has named it Transparent OLED Touch Signage.
April 2019: Panasonic Corporation announced at one of the world’s largest lifestyle exhibition, Salone del Mobile, the launch of its transparent OLED concept display, which is designed by Panasonic Design Kyoto and Daniel Rybakken.
In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.
Ans: Growing demand for transparent displays for utilization in head-mounted displays and head-up displays are some of the major factors that are driving the growth of the market.
Ans: The market is anticipated to attain a robust CAGR over the forecast period, i.e. 2021-2028.
Ans: The major players in the global transparent display market are LG Electronics, Panasonic Corporation, Planar Systems, Inc., Pro Display, Crystal Display Systems Ltd., BenQ Corporation, NEC Display Solutions, Hangzhou Hikvision Digital Technology Co., Ltd.
Ans: The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determines the revenue generating capacity as well as the new products being launched into the market by the company.
Ans: The market is majorly segmented by product type, display size, display technology, end user and by region.
Ans: The OLED display technology segment, which is a sub-segment of the display technology segment, is anticipated to hold the largest market share over the forecast period and display significant growth opportunity.
Ans: High-end product cost is one of the major factors anticipated to act as a barrier towards the growth of the global transparent display market.