The microdisplay market is expected to be valued at USD 1706.3 Million by 2023, growing at a CAGR of 13.2% between 2017 and 2023. The growth of this market can be attributed to the increasing application areas of microdisplays and the rising adoption of portable devices such as HMDs and HUDs.
The report "Microdisplay Market by Product Type (NTE, Projection), Technology (OLED, LCoS, LCD, DLP), Application (Consumer, Industrial, Military, Defense, and Aerospace, Automotive, Commercial, Medical, Education), Resolution, and Region - Global Forecast to 2023", The microdisplay market is estimated to grow from USD 812.0 Million in 2017 to USD 1,706.3 Million by 2023, at a CAGR of 13.2% between 2017 and 2023. The rising adoption of portable devices such as HMDs and HUDs and the increasing application areas of microdisplays are some of the driving factors for the growth of the market.
Browse 64 Market Data Tables and 56 Figures spread through 151 Pages and in-depth TOC on "Microdisplay Market - Global Forecast to 2023"
“NTE display devices expected to hold a major share of microdisplay market during forecast period“
Near-to-eye (NTE) display device segment led the microdisplay market in 2016.NTE display devices include electronic viewfinders (EVFs), head-mounted displays (HMDs), and heads-up displays (HUDs).
The increasing adoption of AR glasses in the industrial and enterprise application for providing on-the-job training to field workers, warehouse management, maintenance and inspection activities, among many others creates a significant demand for NTE display devices. However, the increasing adoption of VR HMDs for gaming and entertainment further provides opportunities for the microdisplay market players.
Moreover, the growing use of HUDs in premium cars fuels the growth of the microdisplay market for NTE display devices.
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“Market for OLED technology expected to grow at a high CAGR between 2017 and 2023”
End users’ demand for small form factor microdisplay devices with enhanced features such as higher power efficiency, faster response, more colorfulness, and better contrast is likely to create significant opportunities for the microdisplay providers. OLED is one of the microdisplay technologies helping to fulfill these requirements.
A number of players entering the OLED microdisplay market further fuels the market growth.
“North America expected to hold a major share of microdisplay market between 2017 and 2023”
North America is expected to hold the largest share of the microdisplay market during the forecast period. The growing adoption of microdisplay devices is one of the major driving factors for this market in North America.
Projectors are increasingly being used in the educational application as traditional classroom learning is being replaced by web-based and online learning. Moreover, the growing use of technologically advanced devices including HMDs, HUDs, and fitness bands would further help drive the growth of the microdisplay market in the region.
eMagin Corporation (US), Himax Technologies, Inc. (Taiwan), Kopin Corporation (US), Yunnan OLiGHTEK Opto-Electronic Technology Co., Ltd.
(China), Seiko Epson Corporation. (Japan), WiseChip Semiconductor Inc.
(Taiwan), Syndiant (US), RAONTECH (South Korea), Microtips Technology, LLC (US), MICROOLED (France), Jasper Display Corp. (Taiwan), Japan Display Inc. (Japan), HOLOEYE Photonics AG (Germany), and Dresden Microdisplay GmbH (Germany) are some of the major players in the microdisplay market.
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