The global microdisplays market size is estimated to touch USD 3.42 billion by the end of 2025 and is projected to register a CAGR of 19.1% over the forecast period 2018 to 2025, according to a new report by Million Insights. Microdisplays are compact in size and offer high pixels and resolution. These displays are mostly used in the head-up display (HUDs), head-mounted displays (HMDs), digital cameras and projection TVs. The growing adoption of products in consumer electronics is anticipated to foster market growth.
Microdisplays use CMOS (complementary metal-oxide semiconductors) chips technology which comprises of 2D array transistors. Microdisplays are widely used in projection TVs to enhance image & voice quality. Various benefits like high resolution, lower power consumption are boosting the demand for displays across medical and consumer electronics. LCD based display market led the market in 2017.
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Several factors like a fast response, high power efficiency and more colorfulness are increasing the demand for microdisplays. OLED based displays are innovative and are expected to replace LCD displays in various applications.
Key players in the market engage in R&D activities to develop new display technologies such as LCoS (Liquid crystal on Silicon), holographic displays and OLED display. For example, Sony Corporation has launched UXGA resolution OLEDs with a 6.3 mm pixel size in 2018.
For monochromatic night vision applications in the medical and military, the microdisplays are used. These systems provide greater visual experience with low power consumption. Thus, the market is expected to grow at a significant rate from 2018 to 2025.
Key players in the microdisplays market focus on strategic partnerships to develop new products and enhance their reach across the globe. However, the high manufacturing cost of displays may restrain market growth.
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Further key findings from the report suggest:
• In 2017, North America led the market with the largest share in the overall market. Increasing demands for viewfinders like digital cameras especially in the military sector is contributing to market growth.
• Asia Pacific is projected to expand at the highest CAGR over the forecast period, 2018 to 2025. The rising adoption of electronic devices including smartphones is mainly boosting the market growth.
• Rising trend of VR gaming is boosting the need for headsets and smart glasses, therefore, projected to positively impact the demand for microdisplays.
• Key players in the industry such as Kopin Corporation, eMagin Corporation, and Sony Corporation emphasize on developing new products.
Million Insights has segmented the global microdisplays market based on technology, projection, application and region:
Microdisplays Technology Outlook (Revenue, USD Million, 2015 – 2025)
Microdisplays Projection Outlook (Revenue, USD Million, 2015 – 2025)
Microdisplays Application Outlook (Revenue, USD Million, 2015 – 2025)
• Consumer Electronics
• Military & Defense
Microdisplays Regional Outlook (Revenue, USD Million, 2015 – 2025)
• North America
• Asia Pacific
• South Korea
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