Microdisplay Market Size Worth US$ 2,979 Million by 2024 | CAGR 21% – IMARC Group

Global Microdisplay Market to Reach US$ 2,979 Million by 2024, Propelled by Expanding Applications – IMARCGroup.com

IMARC Group’s latest report, titled “Microdisplay Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, finds that the market size reached US$ 926 Million in 2018. Microdisplays refer to miniature displays with micro-level resolution and a diagonal screen size of less than two inches. These displays incur lower manufacturing cost and power dissipation, create large images from a lightweight and small unit, and can even integrate drivers with display chip. In recent years, manufacturers have introduced OLED-on-silicon technology that offers an improved image quality through high-resolution, bidirectional, and ultra-low-power microdisplays. OLED microdisplays have also gained immense popularity with the increasing usage of the technology in augmented reality (AR) and virtual reality (VR) applications.

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Global Microdisplay Market Trends

Microdisplays offer various advantages over direct-view displays such as CRTs and flat-panel LCDs. Owing to this, they are incorporated in a variety of consumer electronics, notably new 3G portable communications devices, digital camera technologies, portable DVD viewers and wearable PCs. Besides this, microdisplays are utilized in several industries ranging from military and defense to automotive, medical and education. In military applications, for instance, aircraft OEMs and military aviation regulators are considering the installation of head-up-displays (HUD) in military aircraft to prevent accidents due to collisions. Moreover, the leading companies are investing in the research and development (R&D) to manufacture next-generation microdisplays with advanced technologies such optical waveguides and micro-electromechanical system (MEMS) based laser scanning, which allow them to reduce the size of HUDs. Looking forward, the market value is projected to reach US$ 2,979 Million by 2024, registering a CAGR of around 21% during 2019-2024.

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Market Summary:

• Based on the product, the market has been segmented into near-to-eye (NTE) devices, HUDs and projectors. Currently, projectors are the most popular product segment.
• On the basis of the technology, the report finds that liquid crystal display accounts for the majority of the global market share. It is followed by liquid crystal on silicon, organic light-emitting diode (OLED) and digital light processing technologies.
• The market has been segregated based on the resolution into lower than HD, HD, FHD and higher than FHD. Amongst these, HD exhibits a clear dominance in the global market.
• Based on the brightness, the less than 500 Nits segment dominates the market. It is followed by 500-1000 Nits and more than 1000 Nits.
• On the basis of the end user, microdisplays are majorly used by the military, defense and aerospace sectors. Other end user sectors include consumers, industrial and enterprise, automotive, medical, sports and entertainment, retail and hospitality, education and others.
• Region-wise, North America enjoys the leading position in the global microdisplay market. Other major regions include Asia Pacific, Europe, Latin America, and Middle East and Africa.
• The competitive landscape of the market has also been examined with some of the key players being Kopin Corporation, Himax Technologies, Inc, eMagin Corporation, WiseChip Semiconductor Inc, Microtips Technology, LLC, Universal Display Corporation, Sony Semiconductor Solutions Corporation, Micron Technology Inc., LG Display Co. Ltd., Seiko Epson Corporation, Yunnan Olightek Opto-Electronic Technology Co., Ltd and Jasper Display Corp.

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