Due to the burgeoning demand to increase the aesthetic appeal of outdoor advertisement applications, the demand for transparent displays is expected to significantly rise over the next few years. Major companies and organizations are adopting such devices for promoting their products through digital signage. This booming demand for transparent digital signage is primarily attributed to the flourishing out-of-home (OOH) advertisement industry. Moreover, the increasing spending in the advertisement industry, due to the rising competition amongst companies in the retail sector, is fuelling the demand for transparent displays.
One of the technologies which are increasingly being utilized in the industry is the transparent display technology. The demand for transparent displays is growing rapidly, as the out-of-home advertisement industry is registering considerable growth. Technology-based retail stores are increasingly making use of transparent digital signage, for making their products more aesthetically appealing to people. Outdoor advertisements are gaining wide popularity among businesses, and transparent displays are an engaging solution for the same. As per a P&S Intelligence report, in 2018, the transparent display market reached a value of $524.7 million, and it is expected to generate revenue of $4,933.6 million by 2024, progressing at a 46.2% CAGR during the forecast period (2019–2024).
A number of industries make use of these displays, namely sports & entertainment, industrial, healthcare, retail & hospitality, transportation, automotive, and aerospace & defense. The retail & hospitality industry has been the major user of transparent displays in the past. In the retail industry, cosmetics, jewelry, and apparel firms make extensive of these products. Similarly, restaurants and hotels, in the hospitality sector, are the major users of such devices. Furthermore, the number of food chains, restaurants, and hotels is growing substantially, which is predicted to result in the growth of the transparent display market in the coming years.
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Market Segmentation by Technology
- Liquid Crystal Display (LCD)
- Organic Light Emitting Diode (OLED)
- Others (Including Digital Light Processing [DLP] and Clear Ink Display)
Market Segmentation by Application
- Head Mounted Display (HMD)
- Heads Up Display (HUD)
- Smart Appliance
- Digital Signage
Market Segmentation by Display Size
Market Segmentation by Resolution
- Ultra-High Definition (UHD)
- Full HD
- Others (Including Video Graphics Array [VGA], Wide VGA [WVGA], Extended Graphics Array [XGA], Wide XGA [WXGA], and Super XGA [SXGA])
Due to rising research & development on technological innovations, North America is projected to witness a considerable demand for transparent displays in the coming years. Apart from this, Asia-Pacific has been the major user of this equipment in the past, which is attributed to the high adoption of these displays in the retail and automotive sectors, particularly in Japan and China. Due to the introduction of heads-up displays by automakers, in luxury cars, China is predicted to create an increasing requirement for these displays in the coming years.
Hence, the demand for transparent displays is growing due to the expansion of the advertising and retail industries.