The Global Micro Display Market Growth, COVID-19 Impact and Forecast (2021-2025)
The global microdisplay market is segmented on product type as NTE display devices, projection devices, and others; based on technology type as OLED, LCD, LCoS and DLP; based on applications as consumer electronics, military & defense, medical, industrial, automotive and others; based on geography as APAC, Europe, North America, and ROW.
Introduction
The microdisplay is defined as a compact size display with less than 1 / 4 inch diagonal. It comprises user-configurable technology, high resolution, and high pixel density that find extensive applications in smartwatches, smart bands, and smart glasses.
This technology exhibits exceptional properties such as quality images and high contrast ratio. Moreover, it allows the super-extended graphics array (SEGA) resolution with improved brightness and better angle viewing. The majorly used technologies include LCD, DLP, and LCoS.
Microdisplays are predominately used in military & defense for real-time monitoring and faster performance.
Microdisplays are being increasingly incorporated in consumer electronic devices, such as smartwatches, head-mounted displays (HMDs), smartphones, smart glasses, and viewfinders of digital cameras.
DLP, LCD, and LCoS are extensively used in microdisplay technologies. Currently, microdisplay finds its broad range of applications in the defense & military sector for faster performance and real-time sensing.
Table of Contents
Market Overview
The Global micro display market is expected to grow to $3615.43 million by 2025 at CAGR of 38.4%.
Evolution of micro display technologies and high demand for high resolution micro displays are expected to boost the growth of the micro display market over the forecast period, 2020-2025.
A combiner HUD is one such type of technologically advanced HUD, which can be installed in small family cars with limited space in the cockpit.
Key Trends
The rising demand for HMD and HUD is expected to provide lucrative opportunities for the growth of the microdisplay market for OLED in the coming years.
Manufacturers are actively participating in innovating microdisplays, especially for use in the healthcare sector.
Key Market Players
The market is dominated by global vendors as Sony Corporation, Microtips Technology, Seiko Epson Corporation, eMagin, Kopin Corporation and Yunnan OLiGHTEK Opto-Electronic Technology
Growth Drivers and Challenges
Factors such as compact size and technological advancements in microdisplays, increased adoption of HMD in several industries, escalated demand for OLED microdisplays, and increased global adoption of advanced driver-assistance systems (ADAS) & HUD are driving the growth of the market during the forecast period.
Growing demand for OLED microdisplays. OLED technology enables the development of thin, efficient, and bright displays comprising thin films of organic light-emitting (OLED) materials that emit light when electricity is applied to them.
Government regulations for the use of microdisplays in electronic devices and high initial manufacturing costs are among the factors that negatively impact the growth of the Microdisplay Market.
The saturation of markets for digital cameras and projectors will act as a restraint and may hamper the growth of the microdisplay market in the above period.
The impact of COVID-19 on the microdisplay market and consumer demand is unclear for the time being. Still, it is believed that device manufacturing will be reduced in the short term as a majority of the microdisplay manufacturers are based in China.