LONDON, June 6, 2024 /PRNewswire/ — Smart watches, with functions that include phonetics, health checks, sports and activity tracking, GPS, communication and personal data tracking, have received increasing attention in the wake of COVID-19. Global smartwatch display shipments grew from 259 million units in 2022 to 351 million units in 2023. In 2024, Omdia predicts smartwatch display shipments to reach 359 million units, with TFT LCD accounting for 63% and OLED accounting for 37% .
Share of AMOLED smartwatch shipments (percentage)
Smartwatch OLED represents the middle to high-end market segment due to its superior visibility, higher contrast ratio, thin and light shape and lower power consumption. Chinese OLED manufacturers have concentrated on the OLED smartwatch market and are now expanding their customer base while improving their production capabilities.
According to the Omdia Small and Medium Display Market Tracker, LG Display is the leader in the OLED smartwatch market primarily supplying the Apple Watch, while Chinese OLED manufacturers are increasing their market share from 2023. In the first half of 2024, LG Display, EverDisplay ( EDO predicted) and Tianma together account for a 53% share of 1H24 shipments, with Chinese OLED manufacturers expected to account for 64%.
LG Display and Japan Display supply premium flexible OLED panels with LTPO backplates for the Apple Watch, while Samsung Display offers OLED for the Samsung Galaxy Watch. However, Chinese OLED manufacturers such as EverDisplay, Tianma, Visionox, BOE and Truly are expanding their OLED panel shipments thanks to design wins from smartwatch brands such as Fitbit, Garmin, BBK, Honor, OPPO, Xiaomi and Google. Meanwhile, there is increasing adoption of OLED panels in unbranded whitebox smartwatches.
“Chinese TFT LCD manufacturers such as BOE dominate the TFT LCD smartwatch segment due to their extensive resources and successful design wins with customers. Meanwhile, Chinese OLED manufacturers are establishing their presence in the OLED smartwatch market. With the integration of AI functions that help the energy efficiency of smartwatches, OLEDs are expected to play a vital role in the smartwatch supply chain, as some of the leading smartwatch brands are delaying the adoption of micro-LED displays due to their high cost and manufacturing challenges,” he commented. David Hsiehsenior director of research in Omdia’s display practice.
“What’s more, we’re seeing OLED smartwatch manufacturers continuously update their technology roadmaps to further reduce power consumption, improve visibility, and improve durability. Chinese OLED manufacturers are becoming increasingly important in developing these advanced specification roadmaps.”
ABOUT OMDIA
Omdia, part of Informa Tech, is a technology research and consulting group. Our deep knowledge of technology markets combined with our actionable insights empowers organizations to make smart growth decisions.
Fasiha Khan [email protected]
SOURCE Omdia