Global Microdisplay Market is estimated to reach $4,528 Million by 2024; growing at a CAGR of 23.8% from 2016 to 2024.
Global Microdisplay Market size was valued at $821 million in 2016 and is expected to reach $4,528 million by 2024, growing at a CAGR of 23.8% from 2016 to 2024. In geographical segments, Asia-Pacific and Europe are expected to grow at a CAGR of 25.9% and 24.3%, respectively, during the forecast period 2016-2024.
Key growth factors of global microdisplay market are higher implementation of microdisplay in military & defence, medical applications, and consumer electronics due to features such as low-power consumption; high resolution, outstanding picture quality, and compact size. Though, issues such as low-picture quality at higher temperature and higher initial cost may limit the market growth.
Furthermore, growing demand for VR HMD’s for gaming & entertainment and increase in use of HUD’s in premium car is expected to gain several opportunities in the forthcoming years.
Type, technology, application, and geography are the primary categories of global microdisplay market. Type segment includes neat-to-eye (NTE) and projection.
Technology segment comprises liquid crystal display (LCD), liquid crystal on silicon (LCoS), organic light-emitting diode (OLED), and digital light processing (DLP). Application segment comprises of military & defense, industrial systems, automotive, medical appliances, consumer electronics, and others.
In 2016, consumer electronics segment dominated the market with largest share, driven by the increase in demand for electronic equipment’s such as smart glasses, smart watch, and smart bands. Additionally, application segment is anticipated to grow at the fastest CAGR through the forecast period.
The global microdisplay market by geography is majorly bifurcated into North America, Europe, Asia-Pacific, and Rest of the World (RoW). In 2016, North America held for highest market share in 2016 and expected to remain the largest over the forecast period, driven by increasing adoption of microdisplay in consumer electronics and speedy technological advancement.
Asia-Pacific is anticipated to grow at the fastest CAGR throughout the forecast period i.e. 2016-2024.
Prominent players in the Microdisplay market includes, LG Display Co. Ltd, Sony Corporation, Syndiant Inc., Micron Technology Inc., Universal Display Corporation, AU Optronics Corp, eMagin Corporation, Himax Technology Inc., Microvision Inc., and KopIn Corporation Inc., among others.
Scope of Microdisplay Market
Product Type Segments
Technology Type Segments
- Digital Light Processing (DLP)
- Liquid Crystal Display (LCD)
- Organic Light-Emitting Diode (OLED)
- Liquid Crystal on Silicon (LCoS)
Application Type Segments
- Consumer Electronics
- Industrial Systems
- Medical Appliances
- Military & Defense
- North America
- United Kingdom
- South Korea
- South America
- Middle East
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