What Factors Propelled The Growth Of The Microdisplay Market In The Past?
The microdisplay market has seen considerable growth due to a variety of factors.
•The microdisplay industry has witnessed remarkable growth in the past few years. The market is projected to expand from $1.73 billion in 2024 to $2.08 billion in 2025, reflecting a compound annual growth rate (CAGR) of 20.0%.
The surge during the historical period is due to a rise in the usage of consumer electronics, higher demand in the entertainment and gaming sector, an increase in automotive HUDs and AR displays, an upswing in virtual reality (VR) and augmented reality (AR) usage, and a decrease in production costs.
What Is The Projected Growth And Market Size For The Microdisplay Sector?
The microdisplay market is expected to maintain its strong growth trajectory in upcoming years.
• The market size for microdisplays is projected to experience a swift surge in the coming years. It is estimated to escalate to $4.16 billion by 2029 with a compound annual growth rate of 18.9%.
The expansion during the forecast period can be credited to factors like the integration of 5g technology, advent of micro-led technology, growth in the healthcare sector, rising utilization of IoT devices, and demand in the field of aerospace and aviation. The forecast period also observes trends like progress in holographic displays, environment-friendly display technologies, development of foldable and flexible displays, product advancements, and incorporation of biometric sensors.
What Are The Core Factors Supporting Growth In The Microdisplay Market?
The microdisplay market's anticipated expansion is attributed to its increased utilization in the automotive industry. This industry comprises multiple firms and organizations dedicated to designing, manufacturing, marketing, selling, and maintaining motor vehicles, and microdisplays play a significant role in this sphere due to their versatility, energy efficiency, high luminance and contrast, and dense pixel quality. As an example, the European Automobile Manufacturers Association (ACEA), a Belgium-based entity that records and reports on automotive industry trends, stated in March 2024 that there had been a substantial 10.2% increase from the preceding year in global car production, reaching approximately 76 million units in 2023. This expansion of the automotive industry is subsequently propelling the growth of the microdisplay market.
What Are The Major Segments Within The Global Microdisplay Market?
The microdisplay market covered in this report is segmented –
1) By Product: Near-To-Eye (NTE) Devices, Head-Up Displays (HUDs), Projectors, Other Products
2) By Brightness: Less Than 500 Nits, 500–1,000 Nits, More Than 1,000 Nits
3) By Resolution: Lower Than HD(High Definition), HD(High Definition), FHD (Full High Definition), Higher Than FHD (Full High Definition)
4) By Technology: Liquid Crystal Display (LCD), Liquid Crystal On Silicon (LCOD), Organic Light-Emitting Diode (OLED), Digital Light Processing (DLP)
5) By Vertical: Consumer, Automotive, Industrial And Enterprise, Military, Defense, And Aerospace, Retail And Hospitality, Medical, Education, Sports And Entertainment, Other Verticals
Subsegments:
1) By Near-To-Eye (NTE) Devices: Virtual Reality (VR) Headsets, Augmented Reality (AR) Glasses, Smart Glasses
2) By Head-Up Displays (HUDs): Automotive HUDs, Aviation HUDs, Wearable HUDs
3) By Projectors: Micro Projectors, Pico Projectors, Embedded Projectors
4) By Other Products: Digital Signage Displays, Industrial Displays, Medical Displays
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Which Trends Are Expected To Transform The Microdisplay Market?
The microdisplay market is seeing an increasing trend in technological development. Leading corporations in this sector are concentrating on creating technologically superior solutions to meet particular requirements and secure their market standing. For example, in August 2023, Sony Semiconductor Solutions Corporation (SSS), which specializes in the development of imaging and sensing solutions including microdisplays from Japan, introduced the ECX344A. This is a large, high-definition 1.3-type OLED Microdisplay with 4K resolution. The latest OLED Microdisplay stands out for its ability to deliver 4K resolution on a 1.3-type large-size display, thanks to SSS's miniaturization processes used in the development of camera electronic viewfinders (EVFs) as well as its pixel drive circuits. This results in improved image quality with a heightened sense of realism. The new OLED Microdisplay is primarily engineered for use in virtual reality (VR) and augmented reality (AR) head-mounted display applications.
Who Are the Key Players in the Microdisplay Market?
Major companies operating in the microdisplay market include:
• Sony Semiconductor Solutions Corporation
• Panasonic Corporation
• Kopin Corporation
• Toshiba Corporation
• LG Display Co. Ltd
• Sharp Corporation
• Seiko Epson Corporation
• AUO Corporation
• Konica Minolta Inc.
• Himax Technologies Inc.
• 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
• Yunnan OLiGHTEK Opto-Electronic Technology Co. Ltd.
• Samsung Display Co. Ltd.
• Pixel Display Inc.
What Is The Most Dominant Region In The Microdisplay Market?
North America was the largest region in the microdisplay market in 2024. 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.
