New York, December 27, 2021 (GLOBE NEWSWIRE) – Reportlinker.com Announces the Release of the “Global Smart Watch Display Panel Market By Panel Type, By Display Technology, By Display Type, By Application , By Regional Outlook, Industry Analysis Report and Forecast, 2021 – 2027 “- https://www.reportlinker.com/p06193322/?utm_source=GNW
These smartwatches offer a local touchscreen interface for daily 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, calculations, and games. However, with the advancement of technology, smartwatches are now integrated with some of the latest smartphone-like features like a mobile operating system, mobile apps, and WiFi / Bluetooth connectivity.
Some smartwatches function as portable media players, playing audio, FM radio, and video files through a Bluetooth headset. Some models of smart watches, called watch phones, have mobile cellular functions such as calling. These watches have various internal hardware components including an electronic visual display, backlit LCD or OLED display. Several manufacturers use transflective or electronic paper to reduce energy consumption. In addition, most of these devices are powered by a rechargeable lithium-ion battery.
COVID-19 impact assessment
With the outbreak of the COVID-19 pandemic, operations and businesses in various industries have been hampered across the world. The electronics manufacturing sector faced a temporary ban that reduced production as well as the efficiency of manufacturing units. The imposition of the foreclosure in various countries in the region has had a negative impact on the sales and income of various products. However, the smart watch display panel market is reportedly getting back on track with increasing technological advancements during the recovery phase.
The demand for smartwatches slowed down during the pandemic, which also negatively impacted the demand for a smartwatch display panel in the market. However, various market players adopt different strategies to ensure business continuity.
Market growth factors:
Growing demand for connected watches
There is an increase in demand for smartwatches across the world due to the growing consumer inclination for smart technologies and the growing consumer awareness of health. With the increasing demand for smart watches, the demand for smart watch display panels would also increase in the market. In addition, the increasing advancement in smart watch technologies and the integration of various latest technologies in smart watches is believed to fuel the growth of smart watch display panels market during the forecast period.
Increase investments to create a connected ecosystem
Factors such as growing reliance on data among customers, increasing investments by businesses to create a connected ecosystem of their devices, and high demand for connected and smart systems are expected to increase demand for smart wearable devices. Consumers are very inclined to adopt connected devices to minimize their time and effort on different activities. In addition, these connected devices allow consumers to easily perform different tasks from a single device.
Market restriction factor:
Lack of knowledge on the use of connected watches
With the lack of consumer awareness of smart watch utilities, the demand and growth of smart watch display panel would also be limited globally. In addition, the complications faced by users in making optimal use of these devices are also believed to hamper the growth of the smart watch display panels market. Several technological advancements have increased the efficiency and functionality of smartwatches, whether 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 smart watch 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 due to its simple infrastructure, which facilitates the manufacturing process.
Prospects for display technology
Based on display technology, the smart watch display panel market is segmented into LED-backlit LCD and OLED. Among all, the segment of LED backlit LCD displays has dominated the market by gaining the highest revenue share because it offers a wide color gamut.
By Application, the smart watch display panel market is divided into medicine and health, personal assistance, fitness, and personal safety. The personal assistance segment acquired the largest share of the market in 2020.
Based on the region, the smart watch display panels market is analyzed North America, Europe, Asia Pacific, and LAMEA. In 2020, North America has emerged as the leading region with substantial revenue share in the smart watch display panel market in 2020. This is due to the high demand for consumer electronics in this region. . Moreover, the growing awareness of consumer health and increasing disposable income of consumers are fueling the growth of the regional Smart Watch Display Panels market.
The market research report covers the analysis of the major players in the market. The main companies described 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.
Strategies deployed in the smart watch display panels market
Jul-2021: Futaba introduced a new 2-inch high-definition, high-brightness color OLED display. This product was intended to expand the standard range of the company and to aid in the development of products for its customers at all levels of price, design and delivery.
Apr-2021: Visionox Technology has extended its long-term OLED hardware licensing and supply agreements with Universal Display Corporation. The agreement aimed to help Visionox achieve its goal of delivering high-end, energy-efficient OLED displays in this growing industry.
June 2020: BOE Technology Group entered into an agreement with Fuyao Glass Industry Group, a manufacturing company. This agreement aimed to leverage both the respective resources of companies in the industry and technological strength to carry out strategic cooperation in dimmable glass, head-up display (HUD) and other areas. , as well as to expand their market presence for mutual benefit together.
Apr-2020: AUO has partnered with PlayNitride, an electronics company that manufactures and supplies Micro LED technology. This collaboration aimed to develop high-resolution flexible micro-LED display technology.
Apr-2020: BOE Technology Group has collaborated with Qualcomm Technologies, an American multinational. This collaboration aimed to develop advanced display products featuring Qualcomm 3D Sonic ultrasonic fingerprint sensors. In addition, the collaboration would also extend to mobile and 5G technologies associated with XR and IoT.
Aug-2018: Japan Display has formed a partnership with Panasonic, a world leader in the development of various electronic technologies and solutions. The purpose of this partnership was to license a low-cost organic light-emitting diode (OLED) panel manufacturing process.
August 2017: Everdisplay Optronics entered into a partnership with Universal Display Corporation, a leader in the research, development and commercialization of organic light-emitting diodes. This partnership aimed to provide them with phosphorescent OLED materials to use in their products.
Jul-2017: Truly Semiconductors signed a technology transfer and license agreement with FlexEnable, a leader in the development and industrialization of organic electronics. The agreement aimed to bring FlexEnable’s flexible organic liquid crystal display (OLCD) technology into mass production on Truly’s lines.
Apr-2017: Visionox presented its innovation, an ultra-thin 0.2mm AMOLED display. The product marks the start of an ultra-thin era for rigid AMOLED displays.
Scope of the study
Market segments covered in the report:
By type of panel
By display technology
• LED backlit LCD
By display type
• Personal assistance
• Medical and health
• Personal safety
• North America
o United States
o Rest of North America
o Rest of Europe
• Asia Pacific
o South Korea
o Rest of Asia-Pacific
o United Arab Emirates
o Saudi Arabia
o Rest of LAMEA
• 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 Company
• Everdisplay Optronics (Shanghai) Co., Ltd.
• Visionox Technology, Inc.
• Comprehensive coverage
• The largest number of tables and figures on the market
• Subscription-based model available
• Best price guaranteed
• After-sales research support guaranteed with 10% free customization
Read the full report: https://www.reportlinker.com/p06193322/?utm_source=GNW
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