According to a new market report published by Credence Research Inc “Microdisplays Market – Growth, Share, Opportunities, Competitive Analysis, and Forecast, 2016 – 2026,” the market for microdisplays is expected to witness significant growth with growth in addressable markets including wearable devices, public displays, TVs, smartphones, projectors, laptops and tablets, augmented reality and virtual reality, head-up and head mounted displays. In addition, benefits of microdipalys such as low power consumption, longer life span, high brightness, highest pixel per inch and others influencing electronics device manufacturers to deploy this technology. In addition, technological developments in microdisplays in order to meet high resolutions demand of potential applications expected to fuel the growth of microdisplays throughout the forecast period from 2018 to 2026. The global market for microdisplays is expected cross US$ 4,250.5 Mn at a CAGR of 22.5% throughout the forecast period.
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OLED technology is expected to be the fastest growing segment compared to other technologies due to its benefits such as of low power consumption and less chances of failure. OLED technology is expected to witness the considerable growth in the near future, with continuous advancements in technology and declining prices of this technology. Several manufacturers have already identified the potential of the OLED technology in microdisplay market, and continuously investing significant amount in research and development LCD is the largest technology is the overall microdisplay markets in 2017. The rising demand for smart glasses, head-up and head mounted displays used in augmented reality and virtual reality applications are increasing the demand for high resolution near-to-eye microdisplays. This technology is also widely used in defense, healthcare and consumer electronics application and expected to witness considerable growth throughout the forecast period from 2018 to 2026.
Asia Pacific is the most potential market for microdisplays with rising production and demand for wearable devices, mobiles, laptops and other devices. China and Japan are most potential markets for microdisplays with rising growing market for VR devices. So far, North America is the largest market for microdisplays and expected to maintain its dominating position throughout the forecast period.
Currently, the Major Virtual reality and augmented reality devices manufacturers are located in North America and Europe and represents major markets for microdisplays. However, number of AR and VR devices vendors are expected to increase in Asia Pacific region with rising demand for head mounted displays and other devices. The global microdisplay industry is highly competitive and competition is further expected to increase with emerging vendors from Asia Pacific.
Some major players in the global mircodisplays industry include: LG Display Co. Ltd, eMagin Corporation, AU Optronics Corp, Universal Display Corporation, KopIn Corporation Inc., Himax Technology Inc., Micron Technology Inc., Microvision Inc., Syndiant Inc, and Sony Corporation, and others.
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By Technology (2016–2026; US$ Mn)
- Liquid Crystal On-Silicon (LCoS)
- Liquid Crystal Displays (LCD)
- Digital Micromirror Devices (DMD)
- Digital Light Processing (DLP)
- Organic Light Emitting Diode (OLED)
- Other (Holographic displays, micro LED etc)
By Type (2016–2026; US$ Mn)
- Projection
- Near-to-eye
By Application (2016–2026; US$ Mn)
- Consumer Electronics
- Military and Defense
- Medical
- Automotive
- Industrial
- Schools and Institutes
- Others
By Geography Segment (2016–2026; US$ Mn)
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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