Wearable Display Market Analysis

Global Wearable Display Market Overview:

Wearable Display Market Size was valued at USD 1.08 Billion in 2023. The Wearable Display Market industry is projected to grow from USD 1.296 Billion in 2024 to USD 4.6 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 17.16% during the forecast period (2024 - 2032).

Technological advancements, increasing demand for smart watches and fitness trackers, growing interest in augmented reality (AR) and virtual reality (VR), health monitoring and medical applications, fashion and style considerations, increasing iot connectivity, rising interest in heads-up displays (HUDs), are the key market drivers enhancing the market growth.

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Wearable Display Market Trends

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  Increasing demand for smart watches and fitness trackers is driving the market growth

  
  

The market for wearable displays has grown significantly as a result of the rising demand for fitness trackers and smartwatches. Fitness trackers and smartwatches have become indispensable tools for keeping track of one's health and fitness activities in recent years, surpassing their earlier status as mere accessories. These wearable technologies' popularity has been greatly aided by the incorporation of displays, which has also created new business potential for wearable displays.

The increased emphasis on individual health and fitness is one of the main factors influencing the demand for smartwatches and fitness trackers. People are actively looking for ways to track and assess their fitness objectives as knowledge of the value of living a healthy lifestyle grows. Users can get real-time data about their heart rate, steps walked, calories burnt, sleep habits, and more on smartwatches and fitness trackers with displays. Users may easily access their fitness data through these displays while they are on the road, enabling them to monitor their progress and make wise decisions regarding their health. The display serves as a visual interface, providing insightful information and inspiring users to reach their fitness objectives.

Furthermore, smartwatches and fitness trackers now offer more display options than just fitness tracking. These gadgets now come with a variety of features and capabilities, including mobile payment alternatives, call alerts, text messaging, calendar reminders, and notifications for incoming calls and texts. Users may stay connected and informed without having to reach for their cellphones with a quick peek at their wrist. Wearable displays are in demand because of how easily and conveniently these features can be combined with smartwatches and activity trackers, which has increased their uptake.

Additionally, the design of smartwatches and fitness trackers has greatly contributed to their attractiveness. Consumers are looking for wearables that reflect their individual style because they are not merely practical but also fashion items. Manufacturers have been able to produce svelte and fashionable designs that appeal to a variety of customers thanks to the integration of displays in smartwatches and fitness trackers. Users have the option to personalize their devices by adding different watch faces and themes to the screens. Customers who desire wearable technology that not only offers functionality but also improves their overall aesthetic have been drawn to this fashion-forward approach.

Furthermore, smartwatches and fitness trackers now offer a far better user experience thanks to developments in display technology. Users get a more immersive and captivating experience when using high-resolution displays with vivid colors and clear pictures. Touchscreen displays make navigating simple and straightforward, improving the devices' all-around usage. Consumers are looking for products that offer a seamless and engaging user experience, which has led to a rise in the demand for smartwatches and fitness trackers due to the better display quality and user interface.

The growth of a connected ecosystem has also fueled the rising popularity of smartwatches and fitness trackers. These gadgets may link to smartphones and other smart devices, making it possible to synchronize and integrate data without any problems. Users utilize wearable screens as their interface to access and manage linked services and devices. Users may communicate with smart home gadgets, manage their music, and receive navigational instructions all from their smartwatches or fitness tracker. The simplicity of using a wearable display to conveniently access and control numerous areas of the linked ecosystem has increased demand for these gadgets.

As a result, the market for wearable displays has grown significantly due to the rising demand for smartwatches and fitness trackers. The increasing use of these gadgets is mostly due to their emphasis on personal health and fitness, expanded feature sets, aesthetic appeal, improvements in display technology, and interaction with the connected ecosystem. The market for wearable displays will expand along with the demand for smartwatches and fitness trackers, spurring additional innovation and breakthroughs in this area. Thus, driving the Wearable Display Market revenue.

Wearable Display Market Segment Insights:

Wearable Display Product Insights

The Wearable Display Market segmentation, based on product includes Smart Bands and Head Mounted Display. The smart bands category dominated the market in 2022. Smart bands come in a range of pricing ranges to suit different customer budgets. Their popularity in the market is partly due to their accessibility and cost.

Wearable Display Technology Insights

The Wearable Display Market segmentation, based on display technology, includes LED-Backlit LCD and OLED. The OLED category dominated the market in 2022. OLED displays offer vivid colors, excellent contrast ratios, and deep blacks, which contribute to an improved viewing experience. An OLED display's individual light-emitting pixels enable fine control and enable true blacks to be displayed by individually shutting off each pixel.

Wearable Display Panel Insights

The Wearable Display Market segmentation, based on panel, includes Rigid and Flexible. The flexible category dominated the market. The ability to bend, curve, and adapt to various forms and shapes is a benefit of flexible displays. This design freedom enables more creative and visually pleasing wearable technology. Wearable screens can be made to wrap over the wrist, blend into clothing, or take on other unusual shapes, according to the manufacturers. This design flexibility helps explain why flexible screens rule the market today.

Wearable Display Size Insights

The Wearable Display Market segmentation, based on display size, includes 1 to 2 inches and More than 2 inches. The more than 2 inches category dominated the market in 2022. Larger displays in wearables allow for more features and functionality. Because there is more room on the screen for information, icons, and controls, users can access more features and complete tasks more quickly. Better touch interactions are also made possible by larger displays, allowing users to interact with the device more comfortably.

Wearable Display Vertical Insights

The Wearable Display Market segmentation, based on vertical, includes Gaming and Military & Defense. The gaming category dominated the market in 2022. The gaming market has seen rapid expansion, and it has a sizable and devoted customer base. Gamers can have immersive experiences with wearable displays like virtual reality (VR) headsets and augmented reality (AR) glasses by building a virtual world or superimposing digital elements on the actual world.

Figure 1: Wearable Display Market, by Vertical, 2022 & 2032 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Wearable Display Regional Insights

By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The Asia-Pacific Wearable Display Market dominated this market in 2022 (45.80%). In this area, there has been a considerable increase in the market for wearable gadgets, especially those with screens like smartwatches and fitness trackers. The expansion of the wearable display market in the Asia-Pacific region has been driven by the presence of a sizable consumer base interested in wearable technologies. Moreover, China’s Wearable Display Market held the largest market share, and the Indian Wearable Display Market was the fastest growing market in the Asia-Pacific region.

Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2: Wearable Display Market SHARE BY REGION 2022 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

The North America Wearable Display Market held the second-largest market share in 2022 to 2032. People in the area are technologically adept and open to new innovations. Wearable displays are in high demand in the North American market as a result of early adoption of wearable technology and rising health and fitness consciousness.. Further, the U.S. Wearable Display Market held the largest market share, and the Canada Wearable Display Market was the fastest growing market in the North America region.

Europe Wearable Display Market is expected to grow at the fastest CAGR from 2023 to 2032. People in the area have demonstrated a keen interest in tracking their fitness and health, which has increased the market for wearable gadgets with displays. The demand for wearable displays in Europe has increased as a result of the increasing use of wearable technology. Further, the German Wearable Display Market held the largest market share, and the UK Wearable Display Market was the fastest growing market in the European region.

Wearable Display Key Market Players & Competitive Insights

Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Wearable Display Market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Wearable Display industry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global Wearable Display industry to benefit clients and increase the market sector. In recent years, the Wearable Display industry has offered some of the most significant advantages to medicine. Major players in the Wearable Display Market, including 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.), are attempting to increase market demand by investing in research and development operations.

Manufacturer and supplier of speciality chemicals is Eastman Chemical Co. It offers a huge selection of cutting-edge materials, goods with functionality, specific additives, chemicals, and fibers. Additives, plasticizers, specialty plastics, adhesives, performance films, chemical intermediates, acetate yarn, and other goods are among its product offerings. The business also sells speciality films and wet-laid nonwovens. The coatings, food, beverage, feed, agricultural, building and construction, packaging, transportation, consumables, consumer durables, health and wellness, and other industries all use Eastman's products. It runs through an international network of production sites, technical service centers, and sales offices. The US city of Kingsport, Tennessee, is home to Eastman's headquarters.

High-tech polymers are provided by Covestro AG (Covestro). It creates and produces raw ingredients for polyurethanes, their derivatives, coatings, specialized adhesives, polycarbonate, and specialty chemicals, among other things. In addition, the company manufactures and markets byproducts including chlorine and styrene. The company offers its products to a variety of industries, including those in the automobile, building, apparel, electrical and electronics, cosmetics, health, and chemical industries as well as those that process wood and make furniture. It runs sales offices, technical service centers, and research labs all around the world. The corporation has operations in the Middle East, Africa, Europe, Asia-Pacific, and North and South America. Leverkusen, Germany serves as the home base for Covestro.

Key Companies in the Wearable Display Market include

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  BASF SE (Germany)

  
  


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  DowDuPont (U.S.)

  
  


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  Wacker Chemie AG (Germany)

  
  


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  Arkema SA (France)

  
  


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  3M (U.S.)

  
  


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  Eastman Chemical Company (U.S.)

  
  


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  Solvay (Belgium)

  
  


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  Covestro AG (Germany)

  
  


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  Henkel AG and Co. KGaA (Germany)

  
  


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  Master Bond Inc. (U.S.)

  
  

Wearable Display Industry Developments

March 2024: Asus presented their brand-new AirVision M1 wearable display at the Consumer Electronics Show (CES) 2024. This wearable display is a pair of smart glasses that claim to provide an immersive multi-screen computing experience. In anticipation of the debut of Apple's $3500 Vision Pro headset on February 2, Asus is attempting to secure a substantial portion of the augmented reality wearables industry, which is anticipated to start taking form this year.

When it comes to vivid visuals, the AirVision M1 is equipped with two Full High Definition Micro OLED displays, each of which has a brightness of 1100 nits and a color coverage of 95% DCI-P3.

Users of these smart glasses are able to "pin" displays to fixed points inside their field of vision because to the three-degrees-of-freedom positioning technology. When used in conjunction with the accompanying software, users are able to generate several virtual displays in a variety of formats and orientations, as well as travel between them.

The Asus AirVision M1 provides a more natural experience because to its wide vertical field of vision, which measures 57 degrees. In addition to that, it has flicker control and blue light reduction that is approved by the TUV for prolonged usage. The brightness of the screen is automatically adjusted by an ambient light sensor depending on the amount of light that is going on around it.

In order to facilitate distant video conferences, the smart glasses manufactured by Asus are equipped with noise-cancelling microphones and speakers. With its touchpad, users are able to operate a variety of features, including the 3D mode, brightness settings, and more. The sensors that are included into the AirVision M1 are able to determine when it is not being used and then turn it off automatically in order to save battery life.

The Asus AirVision M1 is also compatible with DisplayPort and USB-C when it comes to connection. Prescription lenses, a light shield, nose cushions, and cleaning cloth accessories are included among the accessories that come with the glasses. Neither the price nor the availability information has been disclosed as of yet.

January 2022: The IQbuds2 MAX earphones from the smart-hearing startup Nuheara have just been released. The ability to customize the soundscape and other distinctive characteristics, as well as the active noise suppression capability, have driven up demand for it. Because it adjusts their noises in a noisy setting, this product is also excellent for the environment.

May 2020: The Quatix 6X Solar, a new marine GPS from Garmin, offers a novel function called solar charging display that extends battery life by using sun energy rather than electric charging.

Wearable Display Market Segmentation:

Wearable Display Product Outlook

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  Smart Bands

  
  


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  Head Mounted Display

  
  

Wearable Display Technology Outlook

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  LED-Backlit LCD

  
  


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  OLED

  
  

Wearable Display Panel Outlook

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  Rigid

  
  


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  Flexible

  
  

Wearable Display Size Outlook

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  1 to 2 inches

  
  


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  More than 2 inches

  
  

Wearable Display Vertical Outlook

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  Gaming

  
  


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  Military and Defense

  
  

Wearable Display Regional Outlook

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  North America

  
  
  
  
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    U.S.

    
    
  
  
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    Canada

    
    
  
  
  
  


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  Europe

  
  
  
  
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    Germany

    
    
  
  
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    France

    
    
  
  
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    UK

    
    
  
  
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    Italy

    
    
  
  
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    Spain

    
    
  
  
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    Rest of Europe

    
    
  
  
  
  


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  Asia-Pacific

  
  
  
  
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    China

    
    
  
  
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    Japan

    
    
  
  
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    India

    
    
  
  
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    Australia

    
    
  
  
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    South Korea

    
    
  
  
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    Australia

    
    
  
  
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    Rest of Asia-Pacific

    
    
  
  
  
  


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  Rest of the World

  
  
  
  
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    Middle East

    
    
  
  
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    Africa

    
    
  
  
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    Latin America