DUBLIN, January 18, 2022--(BUSINESS WIRE)--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.
Key Market Players:
LG Electronics, Inc. (LG Corporation)
Samsung Electronics Co., Ltd. (Samsung Group)
AU Optronics Corporation
BOE Technology Group Co., Ltd.
Japan Display, Inc.
Truly International Holdings Limited
Everdisplay Optronics (Shanghai) Co., Ltd.
Visionox Technology, Inc.
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.
Key Topics Covered:
Chapter 1. Market Scope & Methodology
Chapter 2. Market Overview
18.104.22.168 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
Chapter 5. Global Smartwatch Display Panel Market by Display Technology
Chapter 6. Global Smartwatch Display Panel Market by Display Type
Chapter 7. Global Smartwatch Display Panel Market by Application
Chapter 8. Global Smartwatch Display Panel Market by Region
Chapter 9. Company Profiles
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Laura Wood, Senior Press Manager
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