Microdisplay Market (By Type: Near-To-Eye and Projection; By Technology: LCD, OLED, DLP, and LCoS; By Application: Consumer Electronics, Military & Defense, and Others; By Geography:) Global Scenario, Market Size, Outlook, Trend and Forecast, 2015-2024
Global Microdisplay Market is estimated to reach $4.5 Billion by 2024; growing at a CAGR of 23.8% from 2016 to 2024. Microdisplays are high resolution display screens used in magnified display systems to control the monitoring of specific equipment or gadget. These displays are energy efficient, compact in size, and high-definition resolution, related to normal display technologies. Various application segment such as consumer electronics, automotive, industrial, medical appliances, and military & defense, among others, show an increased trend for microdisplays. Microdisplays are widely applied in electronics devices such as music systems, smart bands, smart watches, and projectors to monitor and manage the operation.
Low power consumption, compact size, and high resolution picture quality are the major factors driving the global microdisplay market. However, high price of these products would act as a restraint for the market. Surge in demand for heads up displays (HUDs) would provide several growth opportunities for the market in the coming years.
The global microdisplay market is bifurcated on the basis of type, technology, and application. By type, the market is further categorized into near-to-eye and projection. By technology, the market is segmented into liquid crystal display (LCD), organic light-emitting diode (OLED), digital light processing (DLP), and liquid crystal on silicon (LCoS). By application, the market is segregated into consumer electronics, military & defense, industrial systems, medical appliances, automotive, and others. By application type, consumer electronics segment accounted for the largest market share in 2016, owing to the increase in demand for electronic products such as smart watch, smart bands, and smart glasses. Moreover, the segment is expected to grow at the fastest CAGR during the forecast period 2016-2022. Geographically the market is categorized into North America, Europe, Asia-Pacific, and Rest of the World (RoW).
Based on geography, the global microdisplay market has been segmented into North America, Europe, Asia-Pacific and (RoW). The U.S., Mexico and Canada are covered under North America wherein Europe covers UK, Germany, France, and others. Asia-Pacific covers Japan, China, South Korea, Taiwan, and others. Rest of the World (RoW) covers South America, Middle East and Africa.
Market players have adopted various strategies such as product launch, acquisition, and partnership to gain competition in the market. For instance, in the year 2015, Syndiant Inc. launched wearable near-eye optical LCoS microdisplay that delivers high performance with optimized power consumption, providing an outstanding 720p HD picture resolution and is widely used in automotive applications.
Major companies operating in the microdisplay market are Micron Technology Inc., eMagin Corporation, Sony Corporation, Syndiant Inc., Universal Display Corporation, AU Optronics Corp, KopIn Corporation Inc., Himax Technology Inc., LG Display Co. Ltd, and Microvision Inc., among others.
The key takeaways from the report
- The report will provide detailed analysis of Microdisplay Market with respect to major segments such as type, technology, and application
- The report will include the qualitative and quantitative analysis with market estimation over 2015-2024 and compound annual growth rate (CAGR) between 2016 and 2024
- Comprehensive analysis of market dynamics including factors and opportunities of the global Microdisplay Market
- An exhaustive regional analysis of Microdisplay Market from 2015 to 2024 has been included in the report
- Profile of the key players in the Microdisplay Market, will be provided, which include key financials, product & services, new developments and business strategies
Scope of Microdisplay Market
Product Type Segments
- Technology Type Segments
- Digital Light Processing (DLP)
- Liquid Crystal Display (LCD)
- Organic Light-Emitting Diode (OLED)
- Liquid Crystal on Silicon (LCoS)
Application Type Segments
- Consumer Electronics
- Industrial Systems
- Medical Appliances
- Military & Defense
- North America
- South Korea
- South America
- Middle East