Valuing $524.7 million in 2018, the transparent display market is projected to progress to $4,933.6 million by 2024, experiencing a CAGR of 46.2% during 2019–2024 (forecast period).
Interactive displays are trending in the transparent display market, with an increasing number of companies in the hospitality, retail, and automotive applications, adopting them. The retail sector uses them to present different products to potential customers in a more aesthetically appealing way, as these displays themselves are visually pleasing.
The organic light-emitting diode (OLED) category is expected to witness the highest CAGR during the forecast period, on the basis of technology. This is because OLED screens have self-illuminating pixels, which do away with the requirement for backlighting. Further, such products are aesthetically better than those based on the liquid crystal display (LCD) technology, which would further their growth in the market.
A major reason behind the progress of the transparent display market is the rapid adoption of these products in the advertising domain. Several firms, such as P&G and the Coca-Cola Company, are already using these products to promote their offerings.
In 2018–19, Coca-Cola spent $5.8 billion, while P&G invested $6.7 billion in advertising activities, including the procurement of transparent displays. With many other food and beverage and pharmaceutical companies opting for such strategies, the market would continue prospering.
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The high-definition (HD) category dominated the transparent display market in 2018, on the basis of resolution, as such displays have existed for a considerable time.
Additionally, they are more cost-effective compared to full-HD and ultra-HD variants, which is another reason for their high popularity among end users. Based on application, the largest category in 2018 was digital signage, on account of the heavy usage of digital signage in the transportation, retail, education, and healthcare industries
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