DUBLIN, Feb. 21, 2022 /PRNewswire/ -- The "Global Electronic Paper Display Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)" report has been added to ResearchAndMarkets.com's offering.
The Global Electronic Paper Display Market was valued at USD 1,767.1 million in 2021 and is expected to reach USD 3,926.7 Million by 2027, registering a CAGR of 14.32% during the forecast period of 2022-2027.
The electronics devices segment was impacted significantly by the COVID-19 outbreak, as China is one of the major suppliers of raw materials and finished products. The industry is still facing a reduction in production, disruption in the supply chain, and price fluctuations. The sales of prominent electronic companies are also expected to be affected in the near future.
Key Highlights
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An electronic paper display is an electrically-charged surface that replicates the look of ink on paper. The electronic paper display (EPD or electronic ink (e-ink) or electrophoretic display) is being used for applications, like e-books, electronic newspapers, portable signs, and foldable displays.
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EPDs are a significant development in display technology due to their advanced features, such as readability indirect light (indoor as well as outdoor ambiance), low power consumption, lightweight, durability, and convenient composition. The main advantages of electronic paper over traditional LCD screens are paper-like readability and extremely low power consumption.
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Rising demand for on-the-move information, a growing number of electronic readers, and the development of easy-to-use display devices are significant factors driving the demand for the electronic paper display market.
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EPD's are also currently being deployed for many applications, including retail and transport, such as bus stops and rail information boards. For instance, In Japan, E Ink Holdings and Papercast have produced a solar-powered electronic paper passenger information display technology for a smart bus stop project, and the Jerusalem Transportation Master Plan Team (JTMT) has advanced the passenger information systems at bus stops with solar-powered e-paper displays.
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Companies, such as E ink Holdings, offer e-paper display technology to be used in ESL. It has the advantage of very wide viewing angles, mono and three-color options, and paper-like readability under all store lighting conditions. E Ink-based ESL is actively being used in areas of retail, such as Grocery, Electrical Retailers, Pharmacies, Cosmetics, Department Stores, and Clothing stores.
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In addition to e-readers and ESLs, the growing use of e-paper displays has been for indoor signage, for instance, at event venues, hospitals, and hotels. They are lightweight, battery-powered, can be mounted virtually anywhere, moved around easily, and can be integrated with calendaring systems to update automatically. Other new e-paper applications being tried includes Menu Boards, Public Transit Signs, Baggage Tags.
Key Market Trends
Consumer Electronics Industry is Expected to Drive the Market Growth
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EPD is an integral part of consumer electronics as well as wearable. Growing demand for consumer electronics over the forecast period majorly contributes to the market growth owing to the constant need for display technologies.
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The intense penetration of mobile phones, tablets, and smartphones is fueling growth in the consumer electronics industry, demanding more effective display technologies. E-ink technology is majorly used for most consumer electronics to provide low eye strain and enhanced battery life.
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The rising availability of free e-books on the internet, along with a shift in preference among tech-savvy users from traditional books toward portable electronic reading devices, is expected to drive the EPD market. Most American adults own either a tablet, smartphone, or an e-reader device, with the majority using tablets for reading eBooks. Electronic ink technology produces a low-power paper, like display mainly used in e-book readers, such as Amazon's Kindle.
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Electronic paper displays are widely adopted in the wearables industry. Wearables, such as fitness trackers, have gained significant traction, owing to the boom in fitness trends across consumers. Plastic Logic's ultra-thin and flexible e-paper displays have been increasing adoption, given the enormous opportunities they open up in wearable device applications, such as watches and devices, for mobile health monitoring.
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However, the electronics devices are expected to be impacted significantly by the COVID-19 outbreak, as China is one of the major suppliers of raw materials and finished products. The industry is facing a reduction in production, disruption in the supply chain, and price fluctuations. The sales of prominent electronic companies are expected to be affected in the near future.
North America Holds a Significant Market Share
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North America is one of the largest markets for e-paper displays due to the high penetration rate of tablets. Factors such as technological advancements and positive environmental impact due to significantly less energy consumption compared to other display technologies and growth in application areas are gaining momentum to the e-paper display market in North America.
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With the additional benefit of being easily readable in bright sunlight, e-paper could be an attractive addition to the smartwatch industry, especially for outdoor use. According to the Consumer Technology Association, smartwatch unit sales were estimated to be 22.6 million in 2020 in the United States. Smartwatches were projected to grow 8% in unit shipments in the country, driven by tech-savvy and fashion-conscious consumers.
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Further, smartphones are adopting EPD. According to the United States, Consumer Technology Sales and Forecast study conducted by the Consumer Technology Association (CTA) July 2021 report, overall shipments of smartphones in the United States are projected to increase by 10% to 154 million units, earning USD 73 billion in revenue, up by 15%. These instances are likely to propel market growth in the region.
Competitive Landscape
The Electronic Paper display remains a niche market. There are a few major players entirely dedicated to the development of E-paper display technologies like CLEARink Displays, Inc., Pervasive Displays Inc., E Ink Holdings Inc. (YFY Group), among others.
The major players are taking strategic initiatives like mergers and acquisitions, partnerships, and new product development to sustain their market share.
Companies Mentioned
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Plastic Logic GmbH
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E-Ink Holdings Inc.
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Clear Ink Displays
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Pervasive Displays Inc.
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Toppan Printing Co., Ltd.
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LANCOM Systems GmbH
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Adafruit Industries
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Guangzhou Oed Technologies Co. Ltd
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Microtips Technology
For more information about this report visit https://www.researchandmarkets.com/r/x64g57
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