The global microdisplays market was valued at USD 888.2 million in 2019. The market is projected to expand at a CAGR of 18.9% during the forecast period, 2021 – 2028. The growth of the market is attributed to surging use of devices with near-to-eye applications in HUDs and HMDs for automotive, military, and medical applications.
A microdisplay is a display with a small screen. The screen size of microdisplays is less than two inches. Microdisplays are gradually being used in electronic devices, such as rear-projection TVs, smartphones, smartwatches, and smart glasses.
The report on the global microdisplays market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Attributes |
Details |
Report Title |
Microdisplays Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast |
Base Year |
2020 |
Historic Data |
2018–2019 |
Forecast Period |
2021–2028 |
Segmentation |
Projection (Near-To-Eye and Projection), Applications (Consumer electronics, Military & Defense, Automotive, Industrial, and Medical), Technology (LCD, OLED, LCoS, and DLP) |
Regional Scope |
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
Key Players Covered |
Himax Technologies, Inc., Kopin Corporation, EMagin Corporation, Wisechip Semiconductors Inc., Universal Display Corporation, Microtips Technology, LLC, Sony Semiconductors Solutions Corporation, LG Display Co. Ltd., Micron Technology Inc., Seiko Epson Corporation, Jasper Display Corp, and Yunnan Olightek Opto-Electronic Technology Co. Ltd. |
Based on applications, the global microdisplays market is segregated as consumer electronics, military & defense, automotive, industrial, and medical. The consumer electronics segment is estimated to witness a high growth rate during the forecast period, 2021-2028, due to rapid adoption of smartwatches, smart glasses, and smartphones. Moreover, increasing use of VR gaming headsets along with shifting consumer preferences towards portable and handy electronic devices is projected to drive the market growth during the forecast period.
The military & defense segment contributed for over 38% of total market revenue in 2019. This segment is anticipated to expand at a robust CAGR, attributed to rising demand for low-power microdisplays in applications, such as simulation, situational awareness, training, and thermal imaging. Major manufacturers are offering microdisplay products like thermal weapons and night vision goggles for military applications, which gives a grand visual experience.
On the basis of technology, the global microdisplays market is fragmented as LCD, OLED, LCOS, and DLP. In 2019, the LCD segment contributed for more than 55% of the overall market revenue share. Rising demand for microdisplays in the LCD segment is due to wide use of LCD displays in HMDs, EVFs, and HUDs. The Liquid Crystal on Silicon (LCoS) segment is expected to show remarkable growth during the forecast period, 2021-2028. Major companies in the market are focusing on developing new OLED microdisplays to provide a grand visual experience to consumers. Growing demand for OLED microdisplays in the miscrodisplays market is attributed to their quick response time, high power efficiency, and low cost. Increasing awareness about the advantages of microdisplays is projected to boost the market.
Based on projection, the global microdisplays market is bifurcated as Near-To-Eye (NTE) and projection. The NTE segment accounted for over 48% of the total revenue share. This segment led the market in 2019. In industrial application, there is a rising demand for AR glasses, due to warehouse management, on the job training to field workers, inspection, and maintenance activities. These factors have contributed to the growth of the market. Moreover, rising use of HUDs in vehicles is likely to propel the segment.
Increasing use of VR headphones for entertainment and gaming is expected to increase growth opportunities for the microdisplays market. Rising demand for DLP projectors in sectors such as corporate training and education is projected to boost the segment.
On the basis of regions, the global microdisplays market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America accounted more than 35% of the total revenue in 2019. Traditional classroom teaching is replaced by the use of ICT technologies in educational sector, which, in turn, is fueling the regional segment. The market in Asia Pacific is anticipated to register a high growth rate during the forecast period, 2021-2028. Existence of major players in the region is anticipated to boost the market in the coming years.
The global microdisplays market has been segmented on the basis of
ProjectionsKey players in the global microdisplays market include Himax Technologies, Inc., Kopin Corporation, EMagin Corporation, Wisechip Semiconductors Inc., Universal Display Corporation, Microtips Technology, LLC, Sony Semiconductors Solutions Corporation, LG Display Co. Ltd., Micron Technology Inc., Seiko Epson Corporation, Jasper Display Corp, and Yunnan Olightek Opto-Electronic Technology Co. Ltd. Samsung and HTC offer VR headsets on the purchase of new smartphones. This, in turn, is anticipated to drive the market. Manufacturers are providing low-cost technologies to reduce the costs. In 2018, Kopin Corporation introduced a new OLEd microdisplay for VR headsets, which supports 720p resolution, thus improving the user experience.
The global microdisplays market has been segmented on the basis of
ProjectionsKey players in the global microdisplays market include Himax Technologies, Inc., Kopin Corporation, EMagin Corporation, Wisechip Semiconductors Inc., Universal Display Corporation, Microtips Technology, LLC, Sony Semiconductors Solutions Corporation, LG Display Co. Ltd., Micron Technology Inc., Seiko Epson Corporation, Jasper Display Corp, and Yunnan Olightek Opto-Electronic Technology Co. Ltd. Samsung and HTC offer VR headsets on the purchase of new smartphones. This, in turn, is anticipated to drive the market. Manufacturers are providing low-cost technologies to reduce the costs. In 2018, Kopin Corporation introduced a new OLEd microdisplay for VR headsets, which supports 720p resolution, thus improving the user experience.
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