Global Microdisplay Market Size 2024, Forecast To 2033
8 Mar, 2024
The microdisplay market has experienced exponential growth, rising from $1.45 billion in 2023 to $1.76 billion in 2024, with a CAGR of 21.2%. This growth is attributed to increased adoption in consumer electronics and entertainment. Forecasts suggest further rapid expansion to $3.56 billion by 2028, with a CAGR of 19.3%, driven by 5G technology integration and demand in healthcare and aviation. Major trends include advancements in holographic displays and sustainable display technologies.
Global Microdisplay Market Key Driver
The surge in microdisplay usage within the automotive sector is poised to propel the microdisplays market forward. With microdisplays offering attributes like flexibility, low power consumption, high luminance, and contrast, as well as high pixel density, they have become integral in automotive applications. For instance, in 2021, new vehicle sales in the United States rose to 11,741 thousand units from 11,041 thousand units in 2020, according to the Bureau of Transportation Statistics (BTS). This expansion in the automotive industry signifies a growing demand for microdisplays to meet the evolving needs of vehicle technologies, thereby driving market growth.
Get A Free Sample Of The Global Microdisplay Market ReportGlobal Microdisplay Market Segments
The microdisplay market covered in this report is segmented –
1) Product:Near-To-Eye (NTE) Devices, Head-Up Displays (HUDs), Projectors, Other Products
2) Brightness:Less Than 500 Nits, 500–1,000 Nits, More Than 1,000 Nits
3) Resolution:Lower Than HD(High Definition), HD(High Definition), FHD (Full High Definition), Higher Than FHD (Full High Definition)
4) Technology:Liquid Crystal Display (LCD), Liquid Crystal On Silicon (LCOD), Organic Light-Emitting Diode (OLED), Digital Light Processing (DLP)
5) Vertical:Consumer, Automotive, Industrial And Enterprise, Military, Defense, And Aerospace, Retail And Hospitality, Medical, Education, Sports And Entertainment, Other Verticals
By Geography: The countries covered in the microdisplay market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
North America was the largest region in the microdisplay market in 2023. Asia-Pacific is expected to be the fastest-growing region in the microdisplay market report during the forecast period. The regions covered in the microdisplay market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Major Microdisplay Industry Players
Sony Semiconductor Solutions Corporation; Panasonic Corporation; Kopin Corporation; Micron Technology Inc.; Toshiba Corporation; LG Display Co. Ltd; Sharp Corporation; Kyocera Corporation; Seiko Epson Corporation; AUO Corporation; Konica Minolta Inc.; Himax Technologies Inc.; Universal Display Corporation; CEA-Leti; WiseChip Semiconductor Inc.; Microtips Technology LLC; MicroOLED SAS; Vuzix Corporation; HOLOEYE Photonics AG; Jasper Display Corp.; Syndiant Inc.; Jade Bird Display Ltd.; Dresden Microdisplay GmbH; Fraunhofer FEP; Microvision Inc; Miyota Co. Ltd; Yunnan OLiGHTEK Opto-Electronic Technology Co. Ltd.; Samsung Display Co. Ltd.; Pixel Display Inc.
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Microdisplay Market Overview
Microdisplay refers to a miniature electronic display technology designed to be compact and lightweight, suitable for integration into various devices such as head-mounted displays, virtual reality (VR) and augmented reality (AR) headsets, smart glasses, digital cameras, and portable projectors.