Wearable Display Market Research Report, Product (Smart Bands, Head Mounted Display), Display Technology (LED-Backlit LCD, OLED), Panel (Rigid, Flexible), Display Size (1 to 2 inches, More than 2 inches), Vertical (Gaming, Military & Defense) — Forecast till 2027

Wearable Display Market Size and Overview

Globally, the wearable display market is expected to grow at a high CAGR of 20%, at a valuation of USD 3.16 billion during the forecast period 2020-2027 driven by owing to the increasing use of smart devices and consumer electronics.

The manufacturing of various digital devices like smart glass, fitness trackers, smartwatches, smart clothes, and wearable cameras all are made with the use of wearable displays like substrates, coatings, and adhesives are the leading products in the wearable display market in the global market. Because of the shifting trend to a healthy lifestyle, there is tremendous growth in the wearable display market in the global market. Also the increasing development of the internet of things, as a result of the demand for consumer electronics and smart devices which ultimately leads to the boost of the wearable display market in the global market.

COVID 19 Analysis

Owing to the global pandemic of COVID 19 the growth of the wearable display market has shown a downfall in the global market which falls the economies into forced recession and due to this fact, the global market demand for wearable displays has reduced many times because of manufacturing shutdown during lockdown period.

The wearable display market is expected to recover from this global pandemic in the second quarter of the coming year. The main reason behind this can be attributed to the rising funding and investment that helps in the expansion of the global market product portfolio and hence, cater to the rising needs of the global target audience during the ongoing forecast period of 2020-2027.

Market Dynamics

• Drivers

Owing to the increase in the phenomenon of the Internet of Things (the IoT), and its interconnected capacity with various devices like computers, laptops, tablets, smartphones, etc. it has to drive the wearable display market in the global market. This has made the life of consumers easy and comfortable as it can easily be connected with smart sensors, drones, driving cars, and various wearable displays. There has been the rise of trends that support the increased use of flexible OLED displays in smartwatches, rising demand for OLED displays for use in smart wearable devices, and hence, a reliable technological shift and development of energy-efficient and high-specification display products are likely to emerge as some of the major factors driving the growth of the market during the forecast period that will be ending in 2028. With the increasing adoption of AR and VR devices and the development of micro-LED displays for smart wearable devices, the global wearable display market share is expected to witness significant growth during the forecast period that is projected to end in 2027.

• Opportunity

The opportunity in the development of hybrid and multi-function wearable devices that will integrate all the functions in one compact device. The demand for these products will increase during the forecasted period.

• Restraint

The wearable display market is growing at a very fast speed but some factors restraints its growth like the high cost because of rapid evolution and development of consumer electronics and hence the products of old technology become obsolete within a short period. Also, it is a big challenge to update at the speed at which technology is growing. Also, consumers want their products to be of the latest technology as a result, more cost is incurred for the installation of new technology now and then. Also, it affects the production cycle of the products.

• Value Chain Analysis

With the advent of the wearable displays market in the global market, the life of the consumers has become very easy and comfortable as now they have devices that can easily monitor their health all the time. This will reduce the burden of doctors and staff as now the health conditions can easily be monitored using wearable displays to improve the treatment and diagnosis. These wearable displays help in motivating the customers as they help in keeping the track of their goals and accomplishments and help in self-improvement.

Market Segmentation

The wearable display market share is projected to undergo an excellent degree of expansion and hence, the growth of the global market can be attributed to the rising demand of the target audience followed by the enhanced ability of the market to cater to these needs. The global wearable display market has been segmented based on the following:

Product Type:

• Smart Bands/Activity Trackers


• Smartwatches


• Head-Mounted Displays

Display Technology:

• LED-Backlit LCD


• OLED

Panel Type:

• Rigid


• Flexible


• MIcrodisplay

Display Size (Diagonal):

• Less than 1 Inch


• 1 to 2 Inches




• More than 2 Inches

Vertical:

• Consumer


• Military & Defense


• Healthcare


• Enterprise & Industry


• Commercial




• Others

Region:

• North America


• Europe


• Asia Pacific (APAC)


• Rest of the World (RoW) 

Regional Analysis

The largest share in the global wearable display market is held by the Asia-Pacific region which is expected to show a high CAGR of 14.5% during the forecasted period that is projected to be ending in 2027. Under this region, China has the leading market. Indian market is also showing tremendous growth in the global market and is expected to rise more during the forecasted period.

The second position is held by the North American region owing to an increase in disposable income of the people and a shifting trend towards smart devices has led to the growth in the North American region.

Competitive Landscape

Some of the major key players in the wearable display market in the global market are as follows:

• BASF SE (Germany)


• DowDuPont (U.S.)


• Wacker Chemie AG (Germany)


• Arkema SA (France)


• 3M (U.S.)


• Eastman Chemical Company (U.S.)


• Solvay (Belgium)


• Covestro AG (Germany)


• Henkel AG and Co. KGaA (Germany)


• Master Bond Inc. (U.S.)

To increase the market share of the wearable display market in the global market these prominent players use various strategies like product collaboration and launching and tapping the untapped market for the potential customer base.

Recent Developments

• In January 2020, the smart-hearing company namely Nuheara has launched its IQbuds2 MAX earbuds. It has various unique features of personalizing and soundscape along with the cancellation of active noise feature has increased its demand to greater heights. Also, this product is good for the environment as well, as it fine-tunes their sounds in the noise environment.


• In May 2020, a new feature in the marine GPS, the Quatix 6X Solar launched by Garmin has a new feature of solar charging display that uses solar energy instead of electric charging to expand its battery life.


• An increase in smart clothing like a smart vest, smart shoes, smart socks as it can easily be integrated with smart devices and hence increases the demand for wearable display market in the global market.


• Advancement in the microelectromechanical (MEMS) and semiconductor produces cost-effective products it helps in broadening the scope of motion sensing, energy harvesting, and many other things help in the growth of the wearable display market in the global market.


• Owing to the increase in chronic diseases like respiratory disorders, diabetes, cancer, and various heart diseases, helps in the growth of smart devices as a result increase in the global market share of the wearable display

Report Overview

The global wearable display market research report consists of the following aspects:

• Market Overview


• COVID 19 Analysis


• Market Dynamics


• Value Chain Analysis


• Market Segmentation


• Regional Analysis


• Competitive Landscape


• Recent Developments

This wearable display research reports tell about the growth opportunities and drivers in the global market along with the impact of COVID 19 on the global market demand. The future expected growth rate and value are also estimated and mentioned.

Wearable Display Market Research Methodology

The research methodology has both primary and secondary data and top-down and bottom-up approaches to estimate the size of the market along with dependent submarkets. Key players in the wearable display industry are identified through secondary research. It includes company press releases, annual reports, investor presentations of companies, and many others. All this study is verified using primary research and analyzed to get quantitative and qualitative data.

Intended Audience

• wearable display material manufacturers and retailers


• Distributors and wholesalers of wearable devices


• research companies and development firms


• Government agencies and public sector associations


• Industrial bodies, investors, traders, and many others.