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DUBLIN, Jan. 26, 2023 /PRNewswire/ -- The 'global transparent display market research and forecast, 2022-2028' report has been added to
The global transparent display market is anticipated to grow at a significant CAGR of 7.4% during the forecast period. Transparent displays are used in augmented reality, digital signage, smartphones, wearable, gaming consoles, military, and retail.
Transparent displays are becoming popular in virtual reality and other applications including displays in shopping malls, computer screens, and gaming consoles. Moreover, technological advancement and an increase in the use of transparent displays are contributing to the growth of the transparent display market. However, higher costs associated with transparent display products can hinder the growth of the transparent display in the forecast period.
Furthermore, the growing demand for transparent displays in light-emitting diode (OLED), Passive Matrix OLED, and the roll-able transparent display is contributing to the growth of the market. Also, in gaming consoles, the demand for transparent displays is a factor contributing to the growth of the market.
In addition, the use of transparent displays in aerospace and the military is augmenting market growth. For instance, LG is putting its Transparent OLED screens in the airplane. It is a rollable television that is hidden in the ceiling and can be rolled down like a projector. The flight information will be served on transparent OLED screens.
Further, the demand for transparent displays in smartphones is also increasing as companies are filing patents for the making of smartphones screens, for instance, in January 2020, Samsung Electronics filed a patent with United State Patent and Trademark Office (USPTO) and World Intellectual Property Organization (WIPO) which was published on August 2020.
The patent described the technology used to develop transparent smartphones and the same technology can be applied to develop the transparent display of other consumer electronics products such as TV, monitor, game console, and camera.
Impact of COVID-19 Pandemic on Global Transparent Display Market
The global transparent display market is hit by the outbreak of COVID-19. The lockdown caused disruptions in the supply chain of companies and also stopped manufacturing. The number of buyers of transparent displays has significantly declined during the pandemic, due to the strict guidelines and restrictions by the regulatory authorities to avoid social gatherings and crowded places.
Therefore, all the physical stores were shut down and so did the demand for display. COVID-19 had primarily affected the display market in China due to reduced workforce and delays in receiving components and units for production.
As result, Samsung announced a shutdown of its LCD production in South Korea and China by March 2021 and signed a contract to sell its Suzhou plant in China to China's star optoelectronics technology. In the year 2020, Samsung sold some of its equipment from the L8 plant to Eloflong, which is a Chinese display manufacturing firm.
The global transparent display market is segmented based on basis of technology and application. Based on the type, the market is segmented into the Transparent liquid crystal display market, transparent light-emitting diode market, transparent plasma display panels market, and others (electrochemical and electrowetting display) market.
Based on the application, the market is segmented into a Gaming consoles, smart wearable devices, smartphones and tablets, military, retail industry, and others.
Entertainment Segment is Anticipated to Hold a Prominent share in the Transparent Display Market
Among the application for transparent display, the entertainment segment is anticipated to hold a prominent share and is also anticipated to grow during the forecast period. In the entertainment segment, the market offers Transparent TV and signage. The transparent display allows users to see through the screen as well as what is shown on the screen.
There is a growing demand for transparent light-emitting diode OLED and Passive Matrix OLED. Transparent displays are also used in the display box to show the product and information about it in the shops. The factors such as technological advancement in digital signage, and transparent OLED, are anticipating market growth during the forecast period.
The global transparent display market is further segmented based on geography including North America (the US, and Canada), Europe (Italy, Spain, Germany, France, and Others), Asia-Pacific (India, China, Japan, and Others, and the Rest of the World (the Middle East and Africa, and Latin America).
North America has been predicted to dominate the global transparent display market due to developments in virtual reality technology. For instance, the patent approval of augmented reality transparent phones by Apple Inc. will contribute to the growth of the market.
Asia-Pacific is Projected to Have a Considerable Share in the Global Transparent Display Market
Asia-Pacific is anticipated to hold a considerable market share in the global transparent display market. In the region, China and India are showing rapid progress.
The technical advancement in the transparent display and new launches of the product with innovation are the factors that are growing the market demand in the region. In addition, in December 2020, DNP com. Ltd. developed a new transparent display with a motion sensor. It can be operated in a touch-less format to make it contactless to prevent the spread of COVID-19.
Market Players Outlook
The key players operating in the transparent display market are 3M Co., crystal display systems, and LG display Ltd. Japan Display Inc., ClearLed Inc., BenQ America Corp., Clear display systems, and many others.
The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in March 2020, Xiaomi launched MI TV LUX LED Transparent edition with a glass display which provides a different viewing experience with a price tag of $7723.52 in China.
The Report Covers
Market value data analysis of 2021 and forecast to 2028. Annualized market revenues ($ million) for each market segment. Country-wise analysis of major geographical regions. Key companies operating in the global transparent display market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report. Analysis of business strategies by identifying the key market segments positioned for strong growth in the future. Analysis of market-entry and market expansion strategies. Competitive strategies by identifying 'who-stands-where in the market.
Key Topics Covered:
1. Current Industry Analysis and Growth Potential Outlook
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
3. Competitive Landscape
3.1. Key Company Analysis
3.1.2. Financial Analysis
3.1.3. SWOT Analysis
3.1.4. Recent Developments
3.2. Key Strategy Analysis
3.3. Impact of COVID-19 on Key Players
4. Market Segmentation
4.1. Global Transparent Display Market by Technology
4.1.1. Transparent Liquid Crystal Display Market
4.1.2. Transparent Light-Emitting Diode Market
4.1.3. Transparent Plasma Display Panels
4.1.4. Others( Electrochemical and Electrowetting Display)
4.2. Global Transparent Display Market by Application
4.2.1. Gaming Console
4.2.2. Smart Wearable Devices
4.2.3. Smartphones and Tablets
4.2.7. Retail Industry
5. Regional Analysis
5.1. North America
5.1.1. United States
5.2.6. Rest of Europe
5.3.4. South Korea
5.3.5. Rest of Asia-Pacific
5.4. Rest of the World
6. Company Profiles
6.2. Apple Inc.
6.3. AU Optronics Corp.
6.4. BenQ America Corp.
6.5. ClearLED Inc.
6.6. Crystal Display Systems
6.7. Dai Nippon Printing Co., Ltd
6.8. Google, LLC
6.9. Japan Display, Inc.
6.10. LG Display Co., Ltd.
6.11. Kent Optronics, Inc.
6.12. TDK Corp.
6.13. Royole Corp.
6.14. WiseChip Semiconductor, Inc.
6.15. Panasonic Corp.
6.16. Corning, Inc.
6.17. Saint-Gobain S. A.
6.18. Samsung Display Co., Ltd.
6.19. Shenzhen HOXLED Optoelectronic Technology Co., Ltd.
6.20. NEXNOVO Technology Co., Ltd
6.21. SmartKem, Ltd.
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