Increasing Awareness and Adoption of Advanced Technologies Are the Factors That Drive Transparent Display Market
NewYork, NY -- (SBWIRE) -- 10/12/2021 -- Transparent Displays Market size is forecast to reach $7.9 billion by 2026, at a CAGR of 44.9% during 2021-2026. Growing demand for liquid crystal display based transparent displays for various verticals, increasing usage of transparent display for Head-Mounted Display (HMDs), and Head-Mounted Display products is analyzed to enhance the Transparent Display market share. In addition high growth for OLED based transparent display devices and high adoption of transparent display for digital signage products are expected to create significant growth opportunities for players in the market during the forecast period. In 2020, JDI developed transparent display with 87% high transparency, which is nearly the same as looking through a clear glass when the display is turned off. In 2020, Panasonic has released commercial 55-inch transparent self-illuminating transparent OLED display panel that does not require a backlight. Hence these developments are analyzed to drive the Transparent Display industry in the forecast period 2021-2026.
Transparent Display Market Segment Analysis - By Type
OLED segment has held significant share of 38.2% in 2020, rise in demand for OLED display technology due to advantages such as improved image quality, better contrast, higher brightness and much faster refresh rates with lower power consumption as compared to liquid crystal display technology is analysed to drive the market growth. Transparent OLED maximizes the advantages of OLED and can be used in various places from stores to autonomous vehicles. Moreover several companies have been launching advanced transparent OLED displays to gain the market traction. In 2021, LG Display has announced its plans to launch its transparent OLED screen. In 2020, Panasonic has released commercial 55-inch transparent self-illuminating transparent OLED display panel that does not require a backlight Hence, OLED display technology expected to provide ample opportunities for the transparent display market during the forecast period 2021-2026.
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Transparent Display Market Segment Analysis - By End User
Healthcare sector in Transparent Display Market is expected to witness a highest CAGR of 45.8% in the forecast period. Increasing technological advancements in the healthcare industry is paving the way for the use of transparent displays in applications, such as surgery and patient checkup. Transparent displays are being deployed to assist surgeons during critical operations. In addition, the healthcare industry is exhibiting a substantial growth Y-o-Y, moreover several companies and research institutes are developing these displays for various applications. In 2021, Industrial Technology Research Institute (ITRI) has developed a transparent display surgical navigation system that can reduce the risk of surgery. This system provides high accuracy direct view type virtual-real fusion image information to meet the needs of preoperative communication and intraoperative navigation. In addition this can also be used in medical teaching and smart surgery in the future. Similarly, Companies such as LG, Planar and other are providing digital signage and display technology for the healthcare industry ranges across applications in hospitals and medical offices abound. Hence these global trends are analyzed to create demand for Transparent Display industry in the forecast period 2021-2026.
Transparent Display Market Segment Analysis - By Geography
Transparent Display market in APAC region held significant market share of 39.2% in 2020, due to the increase in demand for transparent displays in various end users, such as automotive, Electronics, healthcare and so on is driving the market growth. In addition, high demand for transparent display panels in South Korea, China, and Japan is a major contributor to the growth of the market. The presence of display panel manufacturers gives it a prime benefit of adopting the latest technology-based display devices, which provides ample opportunities to the transparent display market. In 2019, LG Electronics Inc. completed the construction of its new transparent OLED screen production plant in China. This would extensively increase the production of transparent OLED screens, in display sizes of 55 inches and above, by 60,000 units per month. In 2020, Chinese electronics company Xiaomi has launched Mi TV LUX an edge-to-edge transparent display. Hence these factors are analyzed to drive the transparent display industry outlook.
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Transparent Display Market Drivers
Growing number of product launches with advancements is analyzed to drive the market.
Transparent displays are expected to change the way of using displays as this technology helps in displaying or transferring information. Many companies are investing in huge amount in R&D activities of transparent display technology. For instance, Samsung to launch a new triple foldable tablet and a transparent display phone in 2021. Similarly in 2021, Crystal Display Systems are planning to introduce the curved transparent liquid crystal display for retail displays that really give that unique edge that stand out from the usual displays. Japanese scientists invented intelligent glasses that remembers the place where people saw their keys, mobiles, and other things for the last time. Moreover, emergence of virtual reality devices compatible with smartphones supplements growth of this market. Furthermore, increasing awareness and adoption of advanced technologies are the factors that drive transparent display market share in the forecast period 2021-2026.
Miniaturization of Electronic Devices Drives the Need and Development of Transparent Display Technologies
These days, advanced technologies are growing faster where in each technology is renewed with implementation of new one. The transparent display came to solve major problems related to the device miniaturization. This lack of space on screen-based displays provide an opportunity for the development of transparent displays. The growth in transparent display market can be attributed to presence of major manufacturers and increasing R&D investments towards technology and product development by research universities and major manufacturers. In 2019, Samsung has announced to invest $11 Billion into Next-Generation Displays. Similarly LG has committed to invest heavily for the development of this technology. Hence these investments are analyzed to provide opportunities for the Transparent Display market in the forecast period 2021-2026.
Transparent Display Market Challenges
High Capital Investment Required for the Development of Transparent Displays
Although Transparent Display market is analyzed to grow at a significant rate, the high initial investments required for the R&D of this technology is set to hamper the growth of the market. The competitive display technology segment, new functionalities will increase the cost of development of the products related to this technology. On the other hand most of the technologies required for the outward of transparent display are in development stage only. The high initial investments and slow development process will hinder the Transparent Display market size in the forecast period.
Transparent Display Market Landscape
Product launches, acquisitions, Partnerships and R&D activities are key strategies adopted by players in the Transparent Display market. Transparent Display top 10 companies include Apple, Inc., AU Optronics Corp., Google, Inc., LG Electronics, Samsung Electronics, UDC Corp., Panasonic Corp., Sony Corp, Pioneer and Philips Corp. among others.
In 2020, Panasonic has released 55-inch transparent OLED display module. The new Panasonic product uses a self-illuminating transparent OLED display panel that does not require a backlight.
In 2020, LG has partnered with Assa Abloy to supply transparent OLED automatic doors.
Transparent Display market in APAC region held a significant market share of 39.2% in 2020, due to the increase in demand for transparent displays in various end users, such as automotive, Electronics, healthcare.
OLED segment has held significant share of 38% in 2020, rise in demand for OLED display technology due to advantages such as improved image quality, better contrast, higher brightness and much faster refresh rates with lower power consumption as compared to liquid crystal display technology is analyzed to drive the market growth.
High adoption of transparent display for digital signage products is analysed to drive the market growth.
Healthcare sector in Transparent Display Market is expected to witness a highest CAGR of 45.8% the forecast period. Increasing technological advancements in the healthcare industry is paving the way for the use of transparent displays in applications, such as surgery and patient check-up.
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