Dublin, Jan. 21, 2022 (GLOBE NEWSWIRE) -- The "Global Smartwatch Display Panel Market By Panel Type, By Display Technology, By Display Type, By Application, By Regional Outlook, Industry Analysis Report and Forecast, 2021 - 2027" report has been added to ResearchAndMarkets.com's offering.
The Global Smartwatch Display Panel Market size is expected to reach $2,924.2 million by 2027, rising at a market growth of 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 daily usage, along with the related smartphone app that helps in management and telemetry. In the initial years, smartwatch models have performed basic tasks like translations, digital time telling, calculations, and game-playing. However, with the advancement in technologies, smartwatches are now integrated with some latest functionalities that are similar to smartphones like a mobile operating system, mobile apps, and WiFi/Bluetooth connectivity.
There are certain smartwatches that operate as portable media players, with playback of audio, FM radio, and video files through a Bluetooth headset. Certain smartwatches models, 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. Several manufacturers are using transflective or electronic paper in order to reduce the consumption of power. 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 of various industries have been hampered across the world. The electronics manufacturing sector was facing a temporary ban that decreased their production as well as the efficiency of the manufacturing units. The imposition of lockdown in various nations of the region has negatively impacted the sales and revenue of various products. However, the smartwatch display panel market is expected to get back on track with the rising technological advancement during the recovery phase.
The demand for smartwatches has witnessed a slowdown 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 for ensuring business continuity.
Market Growth Factors:
Increasing demand for smartwatches
There is a rise in demand for smartwatches across the world due to the increasing inclination of the consumers on smart technologies and growing health awareness among consumers. With the increasing demand for smartwatches, the demand for smartwatch display panels is expected to also surge in the market. In addition, the rising advancements in smartwatch technologies and the integration of various latest technologies in smartwatch are estimated to fuel the growth of the smartwatch display panel market over the forecast period.
Increasing investment on making connected ecosystem
Factors like the growing data dependency among the customers, rise in investment of the companies on making connected ecosystem of their devices and high demand for connected & smart system are estimated to augment the demand for the smart wearables. Consumers are highly inclined towards the adoption of connected devices to minimize their time and efforts on different activities. In addition, these connected devices make it easy for consumers to carry out different tasks from one device.
Marketing Restraining Factor:
Absence of knowledge about the usage of smartwatches
With the lack of awareness among consumers regarding the utilities of the smartwatch, the demand and growth of the smartwatch display panel is expected to also be restricted across the world. Also, the complications faced by the users in optimum utilization of these devices are also estimated to hinder the growth of the smartwatch display panel market. Several technological advancements have increased the efficiency and functionalities of smartwatches, be it measuring the heart rate or carrying out any digital payment, these smartwatches are useful in many ways.
Panel Type Outlook
On the basis of panel type, the smartwatch display panel market is segmented into rigid display and Flexible display. In 2020, the rigid display segment acquired the highest revenue share in the market owing 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 segment dominated the market by acquiring the highest revenue share, since it provides a broad range of color gamut.
Application Outlook
By application, the smartwatch display panel market is divided into medical & health, personal assistance, fitness, and personal safety. The personal assistance segment procured the largest share in the market in 2020.
Regional Outlook
Base on region, the smartwatch display panel market is analyzed across North America, Europe, Asia Pacific, and LAMEA. In 2020, North America emerged as the prominent region with a substantial revenue share in the smartwatch display panel market in 2020. It is due to the high demand for consumer electronics in this region. Moreover, the growing health-consciousness among consumers and rising disposable income of consumers are fueling the growth of the regional smartwatch display panel market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include 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.
Key Topics Covered:
Chapter 1. Market Scope & Methodology
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market Composition and Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
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 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 Colored Market by Region
Chapter 7. Global Smartwatch Display Panel Market by Application
7.1 Global Personal Assistance Panel Market by Region
7.2 Global Fitness Market by Region
7.3 Global Medical & Health Market by Region
7.4 Global Personal Safety Market by Region
Chapter 8. Global Smartwatch Display Panel Market by Region
Chapter 9. Company Profiles
9.1 LG Electronics, Inc. (LG Corporation)
9.1.1 Company Overview
9.1.2 Financial Analysis
9.1.3 Regional & Segmental Analysis
9.1.4 Research & Development Expenses
9.2 Samsung Electronics Co., Ltd. (Samsung Group)
9.2.1 Company Overview
9.2.2 Financial Analysis
9.2.3 Segmental and Regional Analysis
9.2.4 Research & Development Expense
9.2.5 SWOT Analysis
9.3 AU Optronics Corporation
9.3.1 Company Overview
9.3.2 Financial Analysis
9.3.3 Segmental and Regional Analysis
9.3.4 Research & Development Expense
9.3.5 Recent strategies and 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 Segmental and Regional Analysis
9.4.4 Research & Development Expense
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 Segmental and Regional Analysis
9.5.4 Research & Development Expense
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 Recent Strategies and 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 & Segmental Analysis
9.7.4 Research & Development Expenses
9.7.5 Recent Strategies and Developments:
9.7.5.1 Partnerships, Collaborations and Agreements:
9.8 Futaba Corporation
9.8.1 Company Overview
9.8.2 Financial Analysis
9.8.3 Regional & Segmental Analysis
9.8.4 Research & Development Expenses
9.8.5 Recent Strategies and Developments:
9.8.5.1 Product Launches and Product Expansions:
9.9 Everdisplay Optronics (Shanghai) Co., Ltd.
9.9.1 Company Overview
9.9.2 Recent Strategies and Developments:
9.9.2.1 Partnerships, Collaborations and Agreements:
9.1 Visionox Technology, Inc.
9.10.1 Company Overview
9.10.2 Recent strategies and developments:
9.10.2.1 Partnerships, Collaborations, and Agreements:
9.10.2.2 Product Launches and Product Expansions:
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