The global microdisplay market accounted for a value of USD 609 million in 2019 and is projected to register growth at a CAGR of 34.8% during forecast period.
Covid19 has impacted microdisplay market. The manufacturing units have to halt its production due to lockdown. The supply chain got disrupted due to travel restriction and the export from other countries is also suspended due to border closer. The majority of the microdisplay manufacturers are based in China and this corona virus is originated from China. The research and development activities are suspended and launch of new products got postpone until end of 2020. The COVID-19 has significant negative impact on the microdisplay market.
For more details, visit: Global Microdisplay Market By Product (Near-to-Eye, HUD, Others), By Technologies (OLED, LCD, Others), By Resolution (HD, FHD, Others), By Application (Medical, Industrial, Others), By Region, Forecast & Opportunities to 2026
The demand for OLED microdisplay is increasing in the world. This technology helps in the development of thin, efficient and bright displays which consists of organic light emitting (OLED) materials. The industrial experts believe that OLEDs can replace existing technologies in the display market. This drives growth in microdisplay market during forecast period.
On the basis of technologies, the microdisplay market is segmented into LCD, LCoS, OLED and DLP. The LCD segment is estimated to hold the largest market share during forecast period. The image on the LCD screen is created by sandwiching an electrically reactive substance in between two sheets of polarized glass plates. It use thin films transistors in order to maintain the state of each pixel and also improves response time. The use of LCDs is increasing rapidly around the world and this drives growth in LCDs segment during forecast period.
On the basis of application, the microdisplay market is segmented into military & defense, consumer electronics, medical, industrial, automotive and others. The consumer electronics segment is estimated to register highest growth during forecast period. The adoption of various electronics gadgets such as smart watches, smart glasses and smartphones etc. is increasing in the world which involves use o microdisplay at large scale. The adoption VR headsets is also increasing and this increases the requirement of microdisplay in the consumer electronics segment and drives growth in this segment during forecast period.
Asia-Pacific region is estimated to witness highest growth rate during forecast period. The demand for microdisplay is higher in this region. The adoption various products such as projectors, HUD, cameras, smartphones and VRs are higher in this region. The industrialization is rapidly increasing and large number of OEMs is present in this region and this increases demand for microdisplay. Various industries such as military, automotive, consumer and aerospace are major growth contributors in this region. The demand and adoption of microdisplay is increasing and this drives growth in Asia-Pacific region during forecast period.
The key market players in microdisplay market are Sony, Seiko Epson, Emagin Corporation, Kopin Corporation, Olightek Opto-Electronic Technology, Hilmax Technologies, Holoeye Photonics, Wisechip Semiconductor, Raystar Optronics, Winstar Display, Syndiant, Microoled, Raontech, liteeye Systems, Microvision, Lumiode, Cinoptics and SPI Corp.
- What are the expected industry trends over the next three to five years?
- Which of the microdisplay technologies is likely to lead by 2025?
- Which of the application segments is expected to have the maximum potential to during the forecast period?
- Which region is going to have the highest smart meters market share by 2025?
- What are different organic and inorganic strategies implemented by companies to gain increased market share?