NEW YORK, Dec. 18, 2019 (GLOBE NEWSWIRE) -- According to the market research report published by P&S Intelligence, the global transparent display market was valued at $524.7 million in 2018, which is projected to reach $4,933.6 million by 2024, at a CAGR of 46.2% during the forecast period (2019–2024).

Among all the technologies, the OLED category is expected to witness the fastest growth during the forecast period, owing to the presence of self-illuminating pixels in this display technology, which do not require backlit panels to show the contents. Attributed to this and its higher aesthetic appeal, as compared to transparent LCDs, this display technology is increasingly being preferred for outdoor applications.

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The transparent display market players are witnessing a growing demand for interactive transparent displays, which are deployed for various applications, including retail, automotive, and hospitality. In the retail sector, these displays are increasingly being used to present different types of products to viewers. Moreover, interactive transparent displays with an aesthetic design enable viewers to get the information about products in more-visually attractive ways. In the automotive sector, interactive transparent displays are being used for heads-up displays (HUD), for ease of navigation and changing music. Apart from these, the products are being deployed in luxury cars for safety purposes; the locking and unlocking of doors can be controlled by typing a password on the virtual keypad on the cars’ windows.

Based on application, the digital signage category held the largest revenue share in the transparent display market in 2018. Owing to the growing adoption of digital signage among end users, including the retail, transportation, healthcare, and education industries, the demand for transparent display solutions is increasing considerably. The retail sector is the largest user of transparent digital signage, followed by transportation. The market share of digital signage is further expected to increase in the coming years, owing to the increasing use of transparent digital signage for outdoor applications.

Based on resolution, the HD category held the largest revenue share in the transparent display market in 2018. HD displays, which have been in the market for several years, captured the largest share in the overall display market, both in terms of value and volume, in 2018. Transparent HD displays are cheaper than full HD and UHD displays, which is the major factor behind their adoption. Due to the inherently high cost of transparent displays, consumers are reluctant to buy higher-resolution products.

Browse report overview with 112 tables and 66 figures spread through 172 pages and detailed TOC on "Transparent Display Market Research Report: By Technology (LCD, OLED), Application (HMD, HUD, Smart Appliance, Digital Signage), Display Size (Small, Medium, Large), Resolution (UHD, Full HD, HD), End User (Industrial, Retail and Hospitality, Automotive, Aerospace and Defense, Transportation, Healthcare, Sports and Entertainment) - Global Industry Analysis and Forecast to 2024" at: https://www.psmarketresearch.com/market-analysis/transparent-display-market

North America and APAC are expected to account for over 79.0% share, collectively, in the global transparent display market by 2024, owing to the high research and development (R&D) spending on technology development and innovation. In 2018, R&D spending for technology development and innovation in the U.S. reached $553 billion, from $538 billion in 2017. The market in the regions registered the largest revenue shares in the retail sector. Within this sector, transparent displays are witnessing an increasing adoption at shopping complexes. As of 2017, there were around 116,000 shopping complexes in the U.S. alone. Further, APAC accounts for around 79.0% of the global shopping mall construction projects. China is the most active country in terms of the construction of shopping malls, acquiring more than 70.0% share, which is the primary reason China holds a large share in the market.

The global transparent display market is consolidated, and LG Electronics Inc., Panasonic Corporation, BenQ Corporation, Leyard Optoelectronic Co. Ltd., and Crystal Display Systems Ltd. are some of the major players actively engaged in the research and development of transparent displays. Some of the other important players operating in the market are Samsung Electronics Co. Ltd., Hangzhou Hikvision Digital Technology Co. Ltd., Japan Display Inc., NEC Corporation, AU Optronics Corporation, Shenzhen NEXNOVO Technology Co. Ltd., Pro Display, and Vuzix Corporation.

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In August 2019, LG Electronics Inc. completed the construction of its new transparent OLED screen production plant in China. This would extensively increase the production of transparent OLED screens, in display sizes of 55 inches and above, by 60,000 units per month. This would ramp up the company’s total per-month production to 130,000 transparent OLED screens.

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Interactive Display Market

Geographically, the Asia-Pacific (APAC) region is expected to showcase the considerable growth over the forecast period. This can be attributed to the increasing investments in education and transportation sectors in various countries including China, India, and Australia. For instance, according to the Ministry of Transport of China, the country invested $72.7 billion (488.9 billion yuan) in transportation infrastructure projects in the first quarter of 2019, up by 4.8% from last year. Nowadays, interactive displays are ubiquitous in transportation applications such as control panels, passenger information display systems, and ticket machines. Therefore, with continuous increased investments in the transportation sector, China is expected to register a considerable growth rate to the interactive display market in the future.

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Digital Pen Market

APAC is expected to be the fastest growing digital pen market over the forecast period. The major factors driving the growth of the market in the region include the increasing internet penetration and growing number of consumer electronics users in countries such as China and India. Further, the improving healthcare infrastructure in the region is resulting in an increasing demand for digital health technologies. The increasing investments by electronic device manufacturing companies are also contributing to the growth of the market. This can also be attributed to the low manufacturing cost and easy availability of skilled manpower in the region.

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