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Transparent Electronics Market Growth Statistics, Regional Analysis, Top Players, Size, And Forecast To 2033
Transparent Electronics Market Growth
According to The Business Research Company's, The transparent electronics market size has grown exponentially in recent years. It will grow from $1.78 billion in 2023 to $2.15 billion in 2024 at a compound annual growth rate (CAGR) of 21.1%. The growth in the historic period can be attributed to increased consumer electronics demand, emergence of IoT devices, enhanced energy efficiency, military and aerospace applications, and increased interest in augmented reality (AR).
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Market Drivers and Trends:
The rising adoption of IoT connections is expected to propel the growth of the transparent electronics market going forward. IoT connections refer to the communication links established between devices within the Internet of Things (IoT) ecosystem. Transparent electronics are used in the Internet of Things (IoT) landscape to enable the creation of seamless and invisible connections between devices and their environment. For instance, in August 2022, according to Akamai Technologies Inc., a US-based internet company, IoT connections are expected to increase from 15.1 billion in 2021 to 23.3 billion in 2025. Therefore, rising demand for smart devices is driving the growth of the transparent electronics market.
Major companies operating in the transparent electronics market are developing innovative technology that is fully transparent to better serve customers with advanced electronic features. Fully transparent in the context of electronics and materials refers to the ability of a device or material to allow light to pass through it without significant obstruction or distortion. For instance, in January 2024, LG Corporation, a South Korea-based electronics company, unveiled the world's first wireless OLED TV with a see-through display, called the LG Transparent OLED Signage. The 77-inch transparent TV allows users to see what's behind the screen, making it an innovative and unique product. The TV has a contrast filter that can be raised or lowered with the push of a button on the remote, allowing users to switch between a transparent mode and a regular OLED mode.
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Major Key Players of the Market:
Apple Inc., Samsung Electronics Co. Ltd., Sony Corporation, Panasonic Corporation, LG Electronics Inc., 3M Company, BOE Technology Group Co. Ltd., Sharp Corporation, Evonik Industries AG, Pioneer Corporation, Corning Incorporated, AU Optronics Corp., Gentex Corp., Onyx Solar Group LLC, Gauzy Ltd., OLEDWorks LLC, Nexnovo Technology Co. Ltd., Ubiquitous Energy Inc., Grafoid Inc., Cambrios Technologies Corporation, SolarWindow Technologies Inc., Brite Solar Limited, Glass Apps LLC, ClearLED Ltd., Shenzhen AuroLED Technology Co. Ltd., Raven Window, Street Communication, PolyIC GmbH & Co. KG, Brite Corp., Planar Systems Inc.
Transparent Electronics Market 2024 Key Insights:
• The transparent electronics market is expected to grow to $4.70 billion in 2028 at a compound annual growth rate (CAGR) of 21.6%.
• IoT Connection Surge Fuels Growth in Transparent Electronics Market
• Pioneering Fully Transparent Technologies by Major Companies
• North America was the largest region in the transparent electronics market in 2023
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