Microdisplay Market is expected to grow from US$ 1014.6 Mn in 2017 to US$ 4892.3 Mn by 2025 at a CAGR of 21.7% between 2017 and 2025.
The sales of microdisplays is largely influenced by numerous economic and non-economic factors. The sales pattern for microdisplays have faced similar ups and downs as the global economy. Therefore, the global economy plays a key role in the development of microdisplay market. Amongst the non-economic factors, application markets influence their sales. Healthcare, military & defense, automobile and consumer electronics sectors are the application markets for microdisplay. The automobile and industrial sectors are expected to have a large impact on the growth of microdisplays market. Also for the consumer electronics industry, entertainment vertical is expected to witness high usage of AR VR devices and other HMDs where microdisplays are required.
The overall market size has been derived using both primary and secondary source. The research process begins with an exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the market. Also, primary interview were conducted with industry participants and commentators in order to validate data and analysis. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers and national sales managers, and external consultant such as valuation experts, research analysts and key opinion leaders specializing in the Microdisplay industry.
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OLEDs are made up of polymers which emit light when a current is applied. There are various applications in which OLEDs are used such as retail, security, automotive, architecture and others. OLED technology is used in a wide range of consumer electronics including mobile phone displays, Bluetooth headsets, car audio displays, hand held game consoles, MP3 players, digital cameras, and in many other industrial applications. The two major application areas for OLEDs are in Lighting and Display. Presently, the 3 zones with major developmental efforts in flexible OLEDs are East Asia, Europe and North America. Rapid growth in usage of smart phones worldwide is one of the major factor driving the market.
Organic Light Emitting Diodes (OLED’s) produce light when altered with electric currents. These devices consist mainly of polymers and other small molecules which are organic in nature, and remarkably promise multiple applications in flat displays replacing of obsolete technology of Cathode Ray Tubes (CRT). Global OLED market has been categorized majorly into two categories; Passive Matrix Organic Light Emitting Diode (PMOLED) and Active Matrix Organic Light Emitting Diode (AMOLED).
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Potentially, automotive and healthcare present larger opportunities as compared to other sectors due to the volumetric implementations of microdisplay and subsequently the microdisplays. The development of smart cars and connected cars presents huge potentials for microdisplay industry. Similarly, in the healthcare sector, hospitals are looking for medical imaging solutions which would facilitate the doctor with a good view of the internal tissues, body parts or organs of the body. Thus, these two sectors present bundle of opportunities for the microdisplay vendors’ growth.
The List of Companies - Microdisplay Market
· AU Optronics Corporation
· eMagin, Inc.
· Himax Technologies, Inc.
· Kopin Corporation, Inc.
· LG Electronics, Inc.
· MicroVision, Inc.
· DisplayTech (Micron Technology Inc.)
· MicroOLED
· Sony Corporation
· Syndiant
· Texas Instruments Incorporated
· Universal Display Corporation
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The Report "Microdisplay Market by Product (HMD, HUD, EVF, Projector), Technology (OLED, LCoS, LCD, DLP), Resolution, Brightness, Industry (Consumer, Industrial/Enterprise, Aerospace, Automotive, Retail, Entertainment, Medical), and Region - Global Forecast to 2025", size is projected to grow from USD 712 million in 2020 to USD 3,609 million by 2025; it is expected to grow at a CAGR of 38.4% from 2020 to 2025.
The increasing adoption of HMD for medical, automotive, consumer, entertainment, and education applications are expected to lead to significant growth of the microdisplay market in the coming years.
The market size in 2020 is expected to witness a decrease owing to the outbreak of COVID-19 and is estimated to be USD 712 million.
Presently, LCoS microdisplay-based AR HMDs are offered by Magic Leap, Google, and Microsoft.
The presence of a substantial number of microdisplay manufacturers in APAC has also led to a decrease in the prices of microdisplays and the increase in the penetration of microdisplay-based devices.
Sony Corporation (Sony Semiconductor Solutions Corporation) (Sony) (Japan); Seiko Epson Corporation (Seiko Epson) (Japan); eMagin Corporation (eMagin Corporation) (US); Kopin Corporation (Kopin Corporation) (US); Yunnan OLiGHTEK Opto-Electronic Technology Co., Ltd. (OLiGHTEK) (China); Himax Technologies, Inc. (Himax) (Taiwan); HOLOEYE Photonics AG (HOLOEYE Photonics) (Germany); WiseChip Semiconductor Inc. (WiseChip) (Taiwan); Raystar Optronics., Inc. (Raystar Optronics) (Taiwan); and WINSTAR Display Co., Ltd. (WINSTAR) (Taiwan) are the key players in the microdisplay market.
