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The e-paper display (EPD) market size is estimated to increase by USD 7.91 billion and grow at a CAGR of 23.87% between 2022 and 2027. Market expansion in Electronic Paper Displays (EPDs) relies on several factors, notably the increasing adoption of e-books and the emphasis on energy efficiency and glare-free properties. However, challenges persist, including the complexities associated with supporting animations, limited color range, and low refresh rates in EPDs. These hurdles necessitate innovative solutions to enhance EPD capabilities and meet consumer expectations. Despite challenges, the market's potential remains robust, driven by the demand for environmentally friendly and eye-friendly display technologies. By addressing technical limitations and investing in research and development, stakeholders can unlock opportunities for growth and innovation in the EPD market, ensuring its continued relevance in an increasingly digital world.
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This market report extensively covers market segmentation by application (e-readers, mobile displays, public displays, wearables, and EPDs in smart cards and others), type (flexible EPDs, curved EPDs, foldable EPDs, and flat EPDs), and geography (North America, APAC, Europe, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
The market share growth by the E-readers segment will be significant during the forecast period. E-readers are defined as electronic devices designed specifically for reading digital books, magazines, and other written content. Some of the key advantages over traditional printed books are portability, convenience, and access to a vast library of digital content.
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The E-readers segment was valued at USD 764.95 million in 2017 and continued to grow until 2021. Additionally, E-readers are lightweight and compact, allowing users to carry thousands of books in a single device. This is one of the key features of E-readers which is valued by avid readers, students, and professionals who need access to reference materials on the go. Furthermore, E-readers provide quick access to a wide variety of digital books, often through wireless connectivity. Thus, users can browse and download e-books from online marketplaces, libraries, or other digital platforms, which makes it easier and quicker to find and acquire reading material.
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North America is estimated to contribute 42% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. Due to the significant rise in the number of users of smart devices, such as smartphones and tablets, over the past years, has resulted in a rise in demand for e-paper displays in the region. As the North American region is highly developed and is home to many new technologies and consumers in the region are more inclined toward the use of new technology products and can easily afford such products, it is expected to drive the market growth in the region during the forecast period.
In the realm of display technology, electronic shelf labels (ESL) are revolutionizing retail environments, offering dynamic pricing and product information updates. These labels, powered by technologies such as LEDs, LCD screens, and electronic ink, provide versatility in both monochrome and color displays, catering to diverse retail needs. They find application in various sectors, from transport hubs like bus stops and rail information boards to e-readers and smartwatches. Leveraging innovations like solar-powered electronic paper passenger information display technology and foldable displays, ESLs ensure energy efficiency and user convenience. With a focus on battery life and low power consumption, they align with the demand for sustainable solutions and comfort for the eyes. As integral components of IoT devices and portable signs, ESLs drive connectivity and enhance customer experiences in retail and beyond. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
One of the key factors driving the Market growth is the growing use of e-books. One of the main reasons for the growth in EPD technology and the increasing use of e-readers is mainly due to the consumers' preference for portability while reading. There is a rise in the demand for e-readers worldwide because of the significant shift in the reading habits of consumers.
As the format of books has evolved over the years, e-books are the most preferred format. Thus, the book industry is witnessing rapid growth, and e-books are expected to account for the major share of the book industry by 2025. For instance, the revenue generated from e-books is expected to grow at a CAGR of 3.5%-4% during the forecast period. Thus, the above factors are expected to drive the market growth during the forecast period.
A key factor shaping the Market growth is the introduction of EPDs with full color. As EPD technology has evolved over the years, it has led to the significant discovery of flexible EPDs with full color. Some of the advantages of EPDs are it works extremely well in bright light, unlike other devices, where the clarity increases with a reduction in light. In addition, the resolution of displays that use this technology is much higher when compared with the previously existing EPDs. Thus these high-color displays have great usage in signage.
With the advances in technology in the global market, several key market players are launching color EPDs. For instance, in January 2020, E Ink announced the launch of new technology, Print Color, for e-Reader and e-Note applications across the signage, retail, education, and consumer electronics segments. Therefore, such product launches is expected to enhance the growth of the global market during the forecast period.
The lack of color range in EPDs is one of the key challenges hindering the market growth. Most of the EPDs majorly emit images in black, white, and shades of gray. As the importance of having colored images in electronic newspapers and other display mediums is increasing, the lack of color options in EPDs is a significant threat to the market.
Customers tend to prefer colored images but black-and-white images form the majority of the EPD display. Thus, companies that are interested in displaying colorful images or ads do not prefer EPDs. Even though the demand for EPD technology is expected to increase in the future, there should be a significant amount of R&D, which will be required to improve its features, such as color. Thus such factors are expected to hinder the market growth during the forecast period.
The market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Adafruit Industries LLC: The company offers e-paper display such as Adafruit RP2040 Feather ThinkInk.
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2023 to 2027, as well as historical data from 2017 to 2021 for the following segments
The market is witnessing significant growth fueled by the rising demand for electronic readers and display devices. Companies like E Ink Holdings and Papercast are pioneering innovations in EPDs (Electronic Paper Displays), including solar-powered electronic paper passenger information displays for transport hubs and smart bus stop projects. EPDs find applications in diverse settings such as bus stops, hospitals, and hotels, offering monochrome displays with low power consumption and comfortable readability. With a focus on smart displays and Internet of Things (IoT) devices, EPDs are increasingly integrated into smart home systems and wearables, providing environmentally friendly and eye-friendly alternatives to traditional screens. As demand surges for digital signage and portable signs, EPDs continue to redefine the display landscape with their flexible and energy-efficient characteristics.
The market is experiencing rapid growth, driven by diverse applications such as rail information boards, smart bus stop projects, and indoor signage. With the advent of solar-powered electronic paper passenger information display technology, EPDs offer sustainable solutions for public transit signs and event venues. They find utility in various sectors, from menu boards to baggage tags, offering monochrome display options ideal for smart packaging and smart card displays. EPDs stand out for their ultra-thin and flexible nature, catering to the wearables industry with devices like smartwatches and fitness trackers. Ensuring prolonged battery life and comfort for the eyes, EPDs align with the demand for environmentally friendly and user-friendly displays, driving their adoption in smart home devices and electronic notepads. As key components in the Internet of Things (IoT) ecosystem, EPDs continue to evolve, offering versatile solutions for smart cities and beyond. The smart bus stop project embodies the innovative application of ultra-thin and flexible e-paper displays, facilitating real-time information dissemination in urban environments. These displays, embraced by electronics devices segment and electronic companies, revolutionize outdoor advertising spending and transit infrastructure. They offer a sustainable alternative to traditional books with features tailored for portable electronic reading devices, aligning with the demand for environmentally friendly solutions. Compatible with mobile phones and wearable technology, these displays, including electronic shelf labels and e-newspapers, cater to diverse user preferences. Their versatility extends to writing tablets and IoT applications, while innovations like OLED and foldable displays pave the way for future advancements. As integral components of smartphones and wearables, e-paper displays drive connectivity and convenience, shaping the landscape of digital transport signage and beyond.
E-Paper Display (EPD) Market Scope |
|
Report Coverage |
Details |
Page number |
174 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 23.87% |
Market growth 2023-2027 |
USD 7.91 billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
22.38 |
Regional analysis |
North America, APAC, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 42% |
Key countries |
US, China, Taiwan, South Korea, and UK |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
Adafruit Industries LLC, Advantech Co. Ltd., ASSA ABLOY AB, CLEARink Displays Inc., DALIAN GOOD DISPLAY Co. Ltd., Hangzhou ZKONG Network Co. Ltd., Microtips Technology Inc., Orient Display USA Corp., Parallax Inc., PERVASIVE DISPLAYS Inc., Plastic Logic HK Ltd., Probots Techno Solutions, Rohde and Schwarz GmbH and Co. KG, Shanghai OKRA Technologies Co. Ltd., Solomon Systech International Ltd., SOLUM Europe Gmbh, Toppan Inc., Visionect LLC, Volex Plc, and YFY Inc. |
Market dynamics |
Parent market analysis, Market forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the market forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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