DUBLIN, January 18, 2022 /PRNewswire/ — The Report “Global Smartwatch Display Panel Market By Panel Type, By Display Technology, By Display Type, By Application, By Regional Outlook, Industry Analysis Report and forecasts, 2021-2027” has been added to from ResearchAndMarkets.com offer.
The Global Smartwatch Display Panel Market Size is Expected to Reach $2,924.2 million by 2027, growing the market at 13.4% CAGR during the forecast period.
Smartwatch refers to the wearable combination of various advanced devices like smartphones or computers. These smartwatches offer a local touchscreen interface for everyday use, along with the associated smartphone app that helps with management and telemetry. In the early years, smartwatch models performed basic tasks such as translations, digital time reading, calculations, and games. However, with advancements in technology, smartwatches are now being integrated with some of the latest smartphone-like features like a mobile operating system, mobile apps, and WiFi/Bluetooth connectivity.
Some smartwatches work as portable media players, playing audio, FM radio, and video through Bluetooth headphones. Some models of smart watches, known as watch phones, have mobile cellular functions such as calling. These watches have different internal hardware components including electronic visual display, backlit LCD or OLED display. Several manufacturers use transflective or electronic paper to reduce energy consumption. In addition, these devices are mostly powered by a rechargeable lithium-ion battery.
COVID-19 Impact Analysis
With the outbreak of the COVID-19 pandemic, operations and businesses in various industries have been hampered across the globe. The electronics manufacturing sector was facing a temporary ban that reduced its production as well as the efficiency of manufacturing units. The imposition of lockdown in various countries in the region has negatively impacted sales and revenue of various products. However, the smartwatch display panel market is expected to get back on track with the increasing technological advancements during the recovery phase.
The demand for smartwatches has seen a downturn during the pandemic, which has also negatively impacted the demand for a smartwatch display panel in the market. However, various market players are adopting different strategies to ensure business continuity.
Market Growth Factors:
Increase in demand for smartwatches
There is an increase in the demand for smartwatches across the world owing to the increasing inclination of consumers towards smart technologies and rising consumer health awareness. With the growing demand for smart watches, the demand for smart watch display panels is also expected to increase in the market. Additionally, increasing advancements in smartwatch technologies and integration of various latest technologies in smartwatches are expected to fuel the growth of the smartwatch display panel market over the forecast period.
Increase investment in building a connected ecosystem
Factors such as growing customer dependence on data, increased investment by enterprises in creating a connected ecosystem of their devices, and high demand for connected and intelligent systems are expected to increase the demand for smart wearables. Consumers are highly inclined to adopt connected devices to minimize their time and effort on different activities. Moreover, these connected devices allow consumers to easily perform different tasks from a single device.
Marketing Restriction Factor:
Lack of knowledge on the use of connected watches
With the lack of consumer awareness of smartwatch utilities, the demand and growth of smartwatch display panel is also expected to be limited across the world. Additionally, the complications faced by the users in the optimal use of these devices are also estimated to hamper the growth of the smartwatch display panel market. Several technological advancements have increased the efficiency and functionality of smartwatches, whether it is measuring heart rate or making any digital payment, these smartwatches are useful in many ways.
Outlook panel type
On the basis of panel type, the smartwatch display panel market is segmented into rigid display and flexible display. In 2020, the rigid screen segment has acquired the highest revenue share in the market thanks to its simple infrastructure, which facilitates the manufacturing process.
Display Technology Outlook
Based on display technology, the smartwatch display panel market is segmented into LED-backlit LCD and OLED. Among all, the LED-backlit LCD display segment has dominated the market by acquiring the highest revenue share, as it offers a wide range of color gamuts.
Application Outlook
By application, the smartwatch display panel market is divided into medical and health, personal assistance, fitness and personal security. The personal assistance segment secured the largest market share in 2020.
Regional outlook
On the basis of region, the smartwatch display panel market is analyzed through North America, Europe, Asia Pacific, and LAMEA. In 2020, North America has emerged as the leading region with substantial revenue share in the smartwatch display panel market in 2020. This is due to the high demand for consumer electronics in this region. Additionally, growing consumer health awareness and rising consumer disposable income is fueling the growth of the regional smartwatch display panel market.
The market research report covers the analysis of major market players. Key companies profiled in the report are LG Electronics, Inc. (LG Corporation), Samsung Electronics Co., Ltd. (Samsung Group), AU Optronics Corporation, Sharp Corporation, BOE Technology Group Co., Ltd., Japan Display, Inc., Truly International Holdings Limited, Futaba Corporation, Everdisplay Optronics (Shanghai) Co., Ltd. and Visionox Technology, Inc.
Main topics covered:
Chapter 1. Market Scope and Methodology
Chapter 2. Market Overview
2.1 Presentation
2.1.1 Presentation
2.1.1.1 Market composition and scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market constraints
Chapter 3. Strategies Deployed in Smartwatch Display Panel Market
Chapter 4. Global Smartwatch Display Panel Market by Panel Type
4.1 Global Rigid Market by Region
4.2 Global Flexible Market by Region
Chapter 5. Global Smartwatch Display Panel Market by Display Technology
5.1 Global LED-backlit LCD Display Market by Region
5.2 Global OLED Market by Region
Chapter 6. Global Smartwatch Display Panel Market by Display Type
6.1 Global Monochrome Market by Region
6.2 Global Colors Market by Region
Chapter 7. Global Smartwatch Display Panel Market by Application
7.1 Global Personal Assistance Panels Market by Region
7.2 Global Fitness Market by Region
7.3 Global Medicine and Healthcare Market by Region
7.4 Global Personal Safety Market by Region
Chapter 8. Global Smartwatch Display Panel Market by Region
Chapter 9. Business Profiles
9.1 LG Electronics, Inc. (LG Corporation)
9.1.1 Company Overview
9.1.2 Financial analysis
9.1.3 Regional and sectoral analysis
9.1.4 Research and development costs
9.2 Samsung Electronics Co., Ltd. (Samsung Group)
9.2.1 Company Overview
9.2.2 Financial analysis
9.2.3 Sectoral and regional analysis
9.2.4 Research and development costs
9.2.5 SWOT Analysis
9.3 AU Optronics Corporation
9.3.1 Company Overview
9.3.2 Financial analysis
9.3.3 Sectoral and regional analysis
9.3.4 Research and development costs
9.3.5 Strategies and recent developments:
9.3.5.1 Partnerships, collaborations and agreements:
9.3.6 SWOT Analysis
9.4 Sharp Corporation
9.4.1 Company Overview
9.4.2 Financial analysis
9.4.3 Sectoral and regional analysis
9.4.4 Research and development costs
9.4.5 SWOT Analysis
9.5 BOE Technology Group Co., Ltd.
9.5.1 Company Overview
9.5.2 Financial analysis
9.5.3 Sectoral and regional analysis
9.5.4 Research and development costs
9.5.5 Recent Strategies and Developments:
9.5.5.1 Partnerships, collaborations and agreements:
9.6 Japan Display, Inc.
9.6.1 Company Overview
9.6.2 Financial analysis
9.6.3 Strategies and recent developments:
9.6.3.1 Partnerships, Collaborations and Agreements:
9.7 Truly International Holdings Limited
9.7.1 Company Overview
9.7.2 Financial analysis
9.7.3 Regional and sector analysis
9.7.4 Research and development costs
9.7.5 Strategies and recent developments:
9.7.5.1 Partnerships, Collaborations and Agreements:
9.8 Futaba Company
9.8.1 Company Overview
9.8.2 Financial analysis
9.8.3 Regional and sector analysis
9.8.4 Research and development costs
9.8.5 Recent Strategies and Developments:
9.8.5.1 Product launches and product extensions:
9.9 Everdisplay optronics (Shanghai) Co., Ltd.
9.9.1 Company Overview
9.9.2 Strategies and recent developments:
9.9.2.1 Partnerships, collaborations and agreements:
9.1 Visionox Technology, Inc.
9.10.1 Company Overview
9.10.2 Strategies and recent developments:
9.10.2.1 Partnerships, collaborations and agreements:
9.10.2.2 Product launches and product extensions:
For more information about this report visit https://www.researchandmarkets.com/r/5mptqy
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