The global transparent display market was valued at $524.7 million in 2018, which is projected to reach $4,933.6 million by 2024, at a CAGR of 46.2% during the forecast period (2019–2024).
Among all the technologies, the OLED category is expected to witness the fastest growth during the forecast period, owing to the presence of self-illuminating pixels in this display technology, which do not require backlit panels to show the contents. Attributed to this and its higher aesthetic appeal, as compared to transparent LCDs, this display technology is increasingly being preferred for outdoor applications.
Growing Demand for Interactive Transparent Display a Major Market Trend
The transparent display market players are witnessing a growing demand for interactive transparent displays, which are deployed for various applications, including retail, automotive, and hospitality. In the retail sector, these displays are increasingly being used to present different types of products to viewers. Moreover, interactive transparent displays with an aesthetic design enable viewers to get the information about products in more-visually attractive ways. In the automotive sector, interactive transparent displays are being used for heads-up displays (HUD), for ease of navigation and changing music. Apart from these, the products are being deployed in luxury cars for safety purposes; the locking and unlocking of doors can be controlled by typing a password on the virtual keypad on the cars’ windows.
Increasing demand for Transparent Display for Advertisement Driving the Market
Numerous global conglomerates, such as the Procter and Gamble Company (P&G) and the Coca-Cola Company, are increasing their investments on advertisement to increase their consumer base. For instance, in 2018–2019, P&G and Coca-Cola spent $6.7 billion and $5.8 billion, respectively, on advertising, including the usage of transparent displays. The displays attract a larger consumer base, as compared to traditional billboard advertisements. Apart from these companies, cosmetics as well as other food & beverage companies are also predicted to greatly benefit from using transparent displays to advertise their products, which would further drive the transparent display market.
Segmentation Analysis of Transparent Display Market
Geographical Analysis of Transparent Display Market
North America and APAC are expected to account for over 79.0% share, collectively, in the global transparent display market by 2024, owing to the high research and development (R&D) spending on technology development and innovation. In 2018, R&D spending for technology development and innovation in the U.S. reached $553 billion, from $538 billion in 2017. The market in the regions registered the largest revenue shares in the retail sector. Within this sector, transparent displays are witnessing an increasing adoption at shopping complexes. As of 2017, there were around 116,000 shopping complexes in the U.S. alone. Further, APAC accounts for around 79.0% of the global shopping mall construction projects. China is the most active country in terms of the construction of shopping malls, acquiring more than 70.0% share, which is the primary reason China holds a large share in the market.
During the forecast period, the transparent display market is expected to exhibit the fastest growth in APAC, due to the increasing demand for transparent displays from emerging economies, such as China, India, and Japan. In the APAC market, China acquired the largest share in 2018, owing to a large number of local players manufacturing transparent displays at low prices. In China, transparent displays find the largest application in the retail sector. In the global retail sector, China is estimated to register a significant growth rate, of 3.5%, in 2019, with its value reaching $5.3 trillion.
Competitive Landscape of Transparent Display Market
The global transparent display market is consolidated, and LG Electronics Inc., Panasonic Corporation, BenQ Corporation Leyard Optoelectronic Co. Ltd., and Crystal Display Systems Ltd. are some of the major players actively engaged in the research and development of transparent displays. Some of the other important players operating in the market are Samsung Electronics Co. Ltd., Hangzhou Hikvision Digital Technology Co. Ltd., Japan Display Inc., NEC Corporation, AU Optronics Corporation, Shenzhen NEXNOVO Technology Co. Ltd., Pro Display, and Vuzix Corporation.
Browse report overview with detailed TOC on "Transparent Display Market Research Report: By Technology (LCD, OLED), Application (HMD, HUD, Smart Appliance, Digital Signage), Display Size (Small, Medium, Large), Resolution (UHD, Full HD, HD), End User (Industrial, Retail and Hospitality, Automotive, Aerospace and Defense, Transportation, Healthcare, Sports and Entertainment) - Global Industry Analysis and Forecast to 2024" at:https://www.psmarketresearch.com/market-analysis/transparent-display-market
In August 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. This would ramp up the company’s total per-month production to 130,000 transparent OLED screens.
Transparent Display Market Segmentation
Market Segmentation by Technology
Market Segmentation by Application
Market Segmentation by Display Size
Market Segmentation by Resolution
Market Segmentation by End User
Market Segmentation by Geography