According to the Market Statsville Group, the global E-paper display market size is projected to grow at a CAGR of 35.1% to reach USD 21,859.6 million by 2030 from USD 1,969.7 million in 2021. E-paper is a display type that has a number of advantages over other display technologies such as light-emitting diodes (LEDs), digital light processing (DLP), and liquid crystal displays (LCD). Its distinguishing characteristics include daylight readability, minimal eye strain, low power consumption, low cost, and custom manufacturing. Education and training, retail, mobile and wearables, packaging, interior design, public transportation, gas stations, museums, luggage tags, smart cards, and smart homes are just a few of the areas where it can be used.
Additionally, as smart cities emerge and as the need for green technology in urban development increases, the e-paper display is likely to experience high growth in the future. However, existing display technologies in the market, such as IPS displays and AMOLED displays, are stifling the e-paper display market's growth. Furthermore, multiple developments in the e-paper display market and technological advancements will provide the market with fruitful growth opportunities.
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Global E-paper Display Market Definition
Electronic paper (also known as e-ink, electrophoretic display, or electronic ink) are electronic displays that mimic the appearance of ink on paper. An electronic paper display, unlike conventional flat panel displays that emit light, reflects ambient light like paper.
Global E-paper Display Market Covid-19 Impact
Based on the analysis of Infinium Global Research, the outbreak of COVID 19 is least likely to impact the annual growth of the global e-paper display market due to the rise in the demand for portable readable devices such as smartphones and tablets. Although manufacturing is expected to hit in 2020 as several manufacturing countries have resorted to lockdown to control the spread of the disease, consumption will experience a significant spike with the growing demand for e-papers. The ePaper displays will enjoy tremendous success in the eBook application over the forecast, particularly with the launch of eTextbooks for students. Furthermore, Many schools switched to using Zoom for their classes, and a $40 Kindle can run Zoom, so if parents needed a screen for their children, the cheapest way to obtain one was to buy a Kindle Fire that runs Zoom for that price and quality. Similarly, the demand for reading devices has also fast-tracked among the bibliophiles, which is also likely to increase the demand for e-paper displays. Furthermore, as Flexible Active Matrix and ColorePaper become the future trends, the market is expected to prosper in the upcoming years.
Global E-paper Display Market Dynamics
Drivers: Performance benefits offered by the e-paper display to drive its demand in the market
Electronic paper displays offer high-resolution and no glare visibility, allowing users to view text and pictures at any angle. E-papers offer durability and reliability, as well as data storage and low power consumption, which reduces power generation costs. E-paper has a low power consumption because it does not require power to display an image, but it does require power to change the content. It can hold static text and images for an indefinite time without the use of electricity. The major advantages of e-paper displays over traditional LCD screens are paper-like readability and extremely low power consumption. An e-paper display will use approximately 3 mA for 2 seconds each time it updates its contents, giving full use of 36 mA or 0.012 mAh per day. Therefore, the display consumes only 0.008% of the power that a same-sized TFT LCD would require in a day. Furthermore, it is easier to read outdoors and in bright sunlight. It is perfect for all indoor and outdoor displays, such as retail shelf labels, interactive museum signs, traffic signs, and notice boards passenger information board.
Restraints: Existing display technologies in the market to hamper the growth of the e-paper display market
E-paper display technologies compete with existing display technologies that have to develop into industry standards. For instance, IPS displays and AMOLED displays have gained popularity in smartphones and tablet computers and on large screens such as televisions and computer monitors. Moreover, the growing advancements in these display technologies have addressed issues such as display longevity, pixel density capacity, and power consumption or energy efficiency, among others. In addition, a notable disadvantage of e-paper display is that it has a very low refresh rate compared to LCD IPS technology and AMOLED display technology. This prevents manufacturers from using this display technology in electronic devices with a high degree of user interactivity, particularly in smartphones and tablet computers. Thus, having a severe impact on the growth of the e-paper display market.
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Scope of the Global E-paper Display Market Research Report
The study categorizes the E-paper display market based on product type, application, and regions.
By Product Type Outlook (Sales, USD Million, 2017-2030)
- Auxiliary Displays
- Electronic Shelf Labels
By Application Outlook (Sales, USD Million, 2017-2030)
- Automotive Transportation
- Consumer Wearable Electronics
- Media Entertainment
- Retail Enterprise
By Region Outlook (Sales, USD Million, 2017-2030)
- North America (US, Canada, Mexico)
- South America (Brazil, Argentina, Colombia, Peru, Rest of Latin America)
- Europe (Germany, Italy, France, UK, Spain, Poland, Russia, Slovenia, Slovakia, Hungary, Czech Republic, Belgium, the Netherlands, Norway, Sweden, Denmark, Rest of Europe)
- Asia Pacific (China, Japan, India, South Korea, Indonesia, Malaysia, Thailand, Vietnam, Myanmar, Cambodia, the Philippines, Singapore, Australia New Zealand, Rest of Asia Pacific)
- The Middle East Africa (Saudi Arabia, UAE, South Africa, Northern Africa, Rest of MEA)
The e-readers segment is projected to account for the largest market share, by product type
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Based on the product type, the market is further divided into auxiliary displays, electronic shelf labels, e-readers, and others. Among these e-readers segment dominates the market and is expected to register the highest CAGR over the forecast period. The E-reader is also known as an e-book reader, is a portable electronic device designed mainly to read e-books and periodicals. E-readers have a similar form to a tablet; it is generally referred to as devices that use electronic paper that provides better screen readability, especially in bright sunlight. Some e-books offer a backlight to allow for low-light reading and longer battery life compared to a tablet. E-reader's battery can stand for a long duration and can last for multiple weeks. With the advanced flexible electronic paper that allows a flexible screen, the user can bend the e-reader without damaging it and can fold it up to put it in a pocket; with such advancement in the technology, this segment is expected to register healthy growth in the forecast period.
Asia Pacific accounts for the highest CAGR during the forecast period
Based on the regions, the market has been segmented across North America, Asia-Pacific, Europe, South America, and the Middle East Africa. Globally, Asia Pacific is estimated to hold the highest CAGR of 36.6% in the global E-paper display market during the forecast period. The Asia-pacific region offers a substantial potential for market growth due to rapid growth in China, India, Japan, South Korea, Indonesia, Thailand, Malaysia, Singapore, Australia, and New Zealand.
The Asia Pacific region is expected to register the fastest growth in display technology and is anticipated to occupy a significant market share over the projection period. The region within the last decade has observed several technological advancements and high adoption of display technologies. The e-paper display market in this region is primarily driven by the rapidly increasing number of consumer electronics manufacturers and manufacturing facilities in several of its developing countries. The increasing focus of manufacturers towards the flexible and thin displays, mainly due to the benefits they offer against traditional displays, has augmented the investments for this technology in this region.
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Key Market Players in the Global Market of E-paper Display
The key players in the E-Paper display market are:
- CLEARink Displays, Inc.
- E Ink Holdings Inc.
- GUANGZHOU OED TECHNOLOGIES CO. LTD
- Hanvon Technology Co., Ltd.
- NEC Display Solutions
- LG Electronics
- PERVASIVE DISPLAYS, INC.
- Plastic Logic HK Ltd.
- Samsung Electronics Co Ltd.
Top winning strategies are analyzed by performing a thorough study of the leading players in the global e-paper market. Comprehensive analysis of various companies' recent developments and growth curves has helped to understand their growth strategies and the potential effect on the market. The companies are evaluated based on annual reports, SEC filings, and press releases.