(MENAFN- GlobeNewsWire - Nasdaq) Dublin, Nov. 18, 2024 (GLOBE NEWSWIRE) -- The "Wearable Display market - Forecasts from 2024 to 2029" report has been added to ResearchAndMarkets.com's offering.
The wearable display market is projected to grow at a CAGR of 20.23% over the forecast period, from US$4.414 billion in 2024 to US$11.090 billion by 2029.
Fitness bands and other health-tracking wearables has been witnessing a steady increase, on account of the demand from a growing proportion of the population that is becoming health conscious. Furthermore, the growing adoption of AR/VR devices along with the incorporation of small LED displays in wearable devices such as smartwatches and fitness bands is projected to boost the wearable display market. Technological advancements in wearable technologies are also anticipated to widen the growth opportunities and drive the wearable display market over the forecast period.
Increasing popularity of wearable devices is estimated to boost their demand around the globe, thus augmenting the demand for wearable displays. Further, there is rising adoption of wearable innovation which is utilizing the integration of display which is additionally developing areas of new potential for wearable display business technology. Besides, the Asia Pacific region is predicted to have a considerable market size because of rising innovation in wearable products and the blooming manufacturing sector.
WEARABLE DISPLAY MARKET DRIVERS:
Growing disposable income is increasing the demand for wearable products and is expected to accelerate the wearable display market
People worldwide are spending more because increasing disposable income permits consumers to spend more on personal things like wearable innovation. This increased disposable income results in the development of more premium wearable devices, which is expected to fuel the necessity of wearable displays. People are purchasing new wearable products such as wearable rings, wearable watches, and wearable bands which are gaining popularity and also have multiple features that consumers find more convenient and stylish.
The World Population Review data of 2024 reported that the average is rising globally with each passing year. The United States ranked as the highest country with average disposable income rising from US$51,147 in 2022 to $54,854 per household by 2024, which is followed by US$49,860 in disposable income per household in Luxembourg, and the third country is Switzerland accounting for the disposable income of US$43,035 per household in 2024, will contribute to market growth.
Wearable Display Market Geographical Outlook
The Asia Pacific region is anticipated to hold a significant market share.
Asia Pacific is estimated to hold a major share in the wearable display market owing to the region being a manufacturing hub for connected and wearable devices. Besides, growing ventures in the manufacturing industry in developing economies such as Japan, India, and China are additionally predicted to facilitate the rise in the requirement for wearable displays during the forecasted period. Moreover, the region is expected to witness conventional expansion in the coming future because of fast technological progressions and an expanding focus on increasing domestic manufacturing in the regional countries.
For instance, in May 2024, Vedanta Limited, a worldwide natural resources and innovation conglomerate based in India, acquired Japanese display company AvanStrate Inc. to fortify its key investment in electronics fabricating through the offering of display glass. AvanStrate Inc., a famous Japanese producer of high-quality Gen 4 to Gen 8 TFT LCD glass substrates, is essentially utilized within the production of electronic devices including wearables, and other displays aligns with the company's vision of rotating towards innovation and broadening into hi-tech manufacturing. These investments by regional players will contribute to the wearable display market expansion in the region during the projected period.
Report Coverage:
Historical data & forecasts from 2022 to 2029 Growth Opportunities, Challenges, Supply Chain Outlook, Regulatory Framework, Customer Behaviour, and Trend Analysis Competitive Positioning, Strategies, and Market Share Analysis Revenue Growth and Forecast Assessment of segments and regions including countries
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 131 |
| Forecast Period | 2024 - 2029 |
| Estimated Market Value (USD) in 2024 | $4.41 billion |
| Forecasted Market Value (USD) by 2029 | $11.09 billion |
| Compound Annual Growth Rate | 20.2% |
| Regions Covered | Global |
Company Profiling (Strategies, Products, Financial Information, and Key Developments)
Some of the key companies profiled in this Wearable Display Market report include:
Samsung Electronics Co. Ltd. BOE Technology Group Co. Ltd LG Display Co. Ltd Kopin Corporation Au Optronics Corporation Japan Display Inc. Tianma Microelectronics Co. Ltd. eMagin Inc. HannStar Display Corporation Lumus Ltd
Market Segmentation:
Wearable Display Market is segmented and analyzed as below:
By Product Type
Smart Watches Smart Bands Head-mounted Display
By Technology
By Panel Type
Flexible Micro-display Rigid
By Industry Vertical
Consumer Electronics Healthcare Military and Defense Others
By Geography
North America South America Europe Germany United Kingdom France Spain Others
Middle East and Africa Asia Pacific China Japan South Korea India Others
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