Microdisplay Market Outlook
According to a new report by Expert Market Research titled, “Microdisplay Market Size, Share, Analysis, Report and Forecast 2024-2032″, the global microdisplay market reached a value of USD 1.61 billion in 2023. Aided by the upswing in augmented reality (AR), virtual reality (VR), and advanced head-up displays in automotive sectors, the market is projected to further grow at a CAGR of 19.70% between 2024 and 2032 to reach a value of USD 4.75 billion by 2032.
Microdisplays are compact, high-resolution screens used in various devices, ranging from digital cameras and camcorders to advanced AR glasses and head-mounted displays. Given their petite size, they are ideal for applications where information needs to be presented without taking up much space. Their sharp image quality and high pixel density make them suitable for professional applications in the military, medical, and entertainment sectors.
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As per the microdisplay market analysis, the global market’s growth trajectory is predominantly anchored in the rapid advancement and adoption of AR and VR technologies. As industries across the spectrum recognize the potential of immersive experiences, microdisplays, being central to AR and VR devices, are experiencing unparalleled demand. For instance, in the gaming sector, VR headsets equipped with microdisplays are revolutionising user experiences, thereby amplifying the market’s expansion.
Moreover, the automotive industry, with its relentless pursuit of advanced technologies, has become a pivotal end-user of microdisplays and further increases value of the microdisplay market size. Modern vehicles are increasingly equipped with sophisticated head-up displays that project vital driving data onto the windshield, ensuring drivers don’t have to look away from the road. This integration not only enhances driving experience but also substantially boosts safety, leading to a rise in the demand for microdisplays.
Further amplifying the microdisplay market growth is the medical sector. Advanced equipment, such as endoscopes equipped with microdisplays, ensures better visualisation during surgeries, enhancing the precision of medical procedures.
Advanced equipment like thermal imaging and night vision goggles leverages microdisplay technology. As defence sectors globally seek advanced tech, the demand for microdisplays is anticipated to climb. Organic Light Emitting Diodes (OLED) based microdisplays are gaining traction due to their ability to deliver better colour contrasts, sharper images, and flexibility compared to traditional LCD microdisplays. They also consume less power, making them ideal for battery-operated devices.
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As technology evolves, the costs of producing microdisplays are gradually decreasing. Advancements in manufacturing techniques and economies of scale are making it more affordable for manufacturers to integrate microdisplays into various devices and propelling the microdisplay market demand.
Microdisplay Market Segmentation
The market can be divided based on product, resolution, technology, brightness, end use, and region.
Market Breakup by Product
- Near-to-Eye (NTE) Devices
- Head-Up Display (HUD)
- Projector
- Others
Market Breakup by Resolution
- Lower Than HD
- HD
- FHD
- Higher Than FHD
Market Breakup by Technology
- Liquid Crystal Display (LCD)
- Liquid Crystal on Silicon (LCOS)
- Organic Light Emitting Diode (OLED)
- Digital Light Processing (DLP)
Market Breakup by Brightness
- Less Than 500 Nits
- 500–1,000 Nits
- More Than 1,000 Nits
Market Breakup by End Use
- Consumer
- Industrial and Enterprise
- Automotive
- Military, Defence, and Aerospace
- Sports and Entertainment
- Retail and Hospitality
- Medical
- Education
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global microdisplay market. Some of the major players explored in the report by Expert Market Research are as follows:
- Kopin Corporation
- Himax Technologies, Inc.
- eMagin, Inc.
- Sony Semiconductor Solutions Corporation
- Jasper Display Corp.
- Seiko Epson Corporation
- Others
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