Portland, OR — (SBWIRE) — 09/28/2017 — Rising disposable income supplemented with increasing awareness and acceptance of advanced technologies are the major factors driving the adoption of screenless display technology, worldwide. In addition, introduction of virtual reality devices, which are compatible with smart phones would foster the growth of the screenless display market during the forecast period.
Screenless Display Market is expected to garner $5.7 billion by 2020, registering a CAGR of 29.9% during the forecast period 2015-2020. Screenless display is an evolving display technology, which enables the user to display and transmit information without the use of screen or projector. Numerous companies are investing to acquire patents for their revolutionary technologies related to screen less displays. Although this technology is at its evolving stage, however, its adoption is expected to increase during the forecast period, owing to technological advancements that would enable the companies to reduce their overall hardware components manufacturing cost.
Low power consumption, wide viewing angles and enhanced privacy associated with this technology are some of the factors driving the growth of the world screenless display market. Screenless displays occupy less space, unlike screen-based displays, which is the key factor that end users would be propelled to adoption this technology in future. In 2014, the screenless display market witnessed a substantial growth, which led major market players to launch various products including bionic contact lenses, virtual reality headsets and holograms. Technological advancements in consumer electronics have enabled market players to introduce smartphone-compatible with virtual reality devices based on consumers’ preferences. Google Glass, a revolutionary product introduced by Google, is in huge demand in the U.S. market. However, factors, such as high product cost, low availability of products and unawareness among end users have restricted its adoption in other major developing market.
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The global screenless display market is segmented into type of technology, application, vertical and geography. Based on technology type, the market is segmented into visual image, retinal display and synaptic interface. In 2014, visual image segment dominated the market with approximately 86% share in terms of revenue. The other two technologies are in their nascent stage of adoption. However, these technologies are anticipated to grow significantly during the forecast period, owing to the ongoing research in the field of retinal display and synaptic interface.
Based on application, the report segments the market into holographic projections, head-mounted display (HMD), head-up display and others (HUD). Holographic projections segment dominates the market, accounting for nearly 53% of the market share in 2014, owing to their applications in numerous industries, including healthcare, consumer electronics and entertainment. Smart phones enabled with holographic display would be one of the major milestones of this technology. Head-mounted displays, especially helmet-mounted displays, are mainly used in the defense and aerospace sectors across the developed regions, and are witnessing increased adoption in the developing regions as well. HUDs are majorly used in automotive sectors, primarily for enhanced display in the high-end luxury cars; and the aerospace sector.
Based on verticals, the market is segmented into aerospace & defense, automotive, healthcare, consumer electronics and others. In 2014, aerospace & defense was the highest revenue-generating segment of the market in terms of revenue. However, the highest growth is witnessed in consumer electronics vertical, anticipated to register a CAGR of 32.1% during the forecast period.
The global screenless display market has been analyzed on the basis of geographical regions, which include North America, Europe, Asia Pacific and LAMEA. In 2014, North America dominated the screenless display market, accounting for 37.9% of the overall market revenue, followed by Europe.
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