Rising Demand for Smart Glasses Driving Transparent Display Market
In 2018, the global transparent display market generated a revenue of $524.7 million and is projected to attain a value of $4,933.6 million in 2024, witnessing a 46.2% CAGR during the forecast period (2019–2024).
The market is growing due to the rising requirement for smart glasses and increasing demand for transparent displays in the advertising industry. An electronic glass display which enables the users to see through it as view the displayed contents on the glass is referred to as transparent display. In terms of application, the transparent display market is categorized into digital signage, head mounted display (HMD), smart appliance, and heads up display (HUD).
Among these, the digital signage category accounted for the major share of the market during the historical period (2014–2018) and is expected to dominate the market during the forecast period as well. This is because of the rising adoption of these solutions by the end users, such as educational industries, retail, healthcare, and transportation. The fastest growth is projected to be registered by the HUD category.
When end user is considered, the transparent display market is divided into sports & entertainment, industrial, healthcare, retail & hospitality, transportation, automotive, aerospace & defense, and others (which include logistics, education, and construction).
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The retail & hospitality division held the major share of the market during the historical period and is further predicted to retain its position during the forecast period. The automotive division is expected to grow at the fastest pace during the forecast period, as the demand for transparent displays is increasing with the rising demand for premium-range vehicles and luxury cars.