Factors such as escalating demand for smart glasses and growing adoption of transparent displays in the advertising industry will accelerate the transparent display market at 46.2% CAGR during the forecast period (2019–2024). The market stood at $524.7 million in 2018 and it is set to value $4,933.6 million in 2024. The market is currently observing high adoption of transparent organic light-emitting diode (OLED) displays, as these are more beneficial than liquid crystal display (LCD) displays, due to the fact that they offer better viewing angles and higher image resolution than the latter.
One of the most significant growth drivers is the widescale installation of transparent displays for outdoor advertisements, because they amplify the aesthetic appeal of the advertisements. Businesses are setting up these displays to promote their products through digital signage. The increasing popularity of digital signage can be ascribed to the expansion of the out-of-home (OOH) advertisement industry, which thrives on the development of improved technology-based retail stores. Additionally, the mounting competition among retail companies has led to the widescale incorporation of these displays for advertising purposes.
Browse detailed – Transparent Display Market Revenue Estimation and Growth Forecast Report
Moreover, the intensifying advancements in the healthcare sector will fuel the transparent display market in the forecast period. Healthcare facilities are using these products during surgical procedures and checkup of patients. These screens display vital sign of patients, such as blood pressure, oxygen levels, and heartbeats, which assist doctors during regular checkups and surgeons during critical operations. Moreover, the growing healthcare spending across the world will boost the demand for these products in the future.
The application segment of the transparent display market is categorized into digital signage, heads-up displays, smart appliance, and head mounted display (HMD). Among these, the digital signage accounted for the largest market share in 2019, due to the burgeoning application of transparent displays in the education, healthcare, retail, and transportation sectors. Whereas, the HUD category is expected to exhibit the highest CAGR during the forecast period, owing to its widening application base in the aerospace and defense and automobile sectors. The automotive industry uses these screens to display the direction and speed to reduce the incidence of road accidents.