Microdisplay Market - Snapshot
Microdisplays are microminiaturized displays with the screen size of less than 50 mm when measured diagonally. These high-density, high-resolution screens are used in magnified display systems. Microdisplay systems first appeared around two decades ago and over the time, they have evolved in terms of technology and application. Currently, they are increasingly used in camcorder viewfinders, head-mounted displays, and cinema projectors. Various industries across the globe including automotive and consumer electronics are witnessing high demand for micro display systems. The global microdisplay market is projected to expand at a CAGR of 22.3% during the forecast period and reach value of US$ 5,782.6 Mn by 2027.
The global market for microdisplays has witnessed substantial growth over the last two decades. This is primarily attributable to growing popularity of the AR/VR (augmented reality/virtual reality) technology and rising demand for smart glasses across the globe. AR and VR headsets require highly advanced microdisplays, as they need to offer peak performance at close physical proximity to the user, who would address concerns about overheating of devices. Primarily, lightweight and compact VR glasses made by using large-area microdisplays are estimated to drive the global microdisplay market during the forecast period.
Furthermore, increasing demand for the AR/VR technology in the gaming & entertainment sector is projected to drive the global microdisplay market during the forecast period. This can be attributed to the compatibility of headsets equipped with the VR technology with smartphones and other smart electronics devices used for superior gaming experience. AR and VR technology-based products, such as AR HMDs, HUDs, and VR HMDs, are expected to witness significant demand during the forecast period. This factor is estimated to augment the market for microdisplays in end-use industry segments such as industrial, automotive, and military, defense and aerospace in the next few years.
Furthermore, adoption of HMDs (head-mounted displays) in multiple end-use industries is becoming a major trend in the global microdisplay market. AR and VR head-mounted displays are major applications of microdisplays. The compact size of microdisplays enable their deployment in HMDs, wherein space is a key constraint. Head-mounted displays offer high resolution and comparatively compact size. These displays are designed to be employed in different applications across several industries including health care, education, automotive, consumer electronics, and sports & entertainment. Thus, increasing demand of head-mounted displays from different industry verticals is anticipated to create new opportunities for the global microdisplay market in the next few years.
However, complex nature of the manufacturing process and high production costs of microdisplays are likely to hamper the global microdisplay market during the forecast period. This is supported by limited availability of raw materials required for the manufacture of microdisplays. Nevertheless, rising demand for microdisplays for use in VR/AR systems presents significant growth opportunities for the global microdisplay market.
With the objective of expanding their business, several players are expanding their offerings through strategic mergers and acquisitions as well as partnerships. Furthermore, an increasing number of players are spending significantly on R&D activities to develop innovative and technologically advanced microdisplay products. Some of the prominent players operating in the global microdisplay market are AU Optronics Corp, eMagin Corporation, Himax Technology Inc., KopIn Corporation Inc., LG Display Co. Ltd, Microvision Inc., Omnivision Technologies, Inc., Sony Corporation, Syndiant Inc., and Universal Display Corporation.
Microdisplay Market - Overview
This comprehensive report by Transparency Market Research analyzes and forecasts the microdisplay market at the global and regional levels. The report provides analysis of the market for the period from 2017 to 2027, wherein 2019–2027 is the forecast period and 2018 is the base year. An in-depth and unbiased market assessment has been made to provide readers with comprehensive and accurate analysis. The report emphasizes all major trends anticipated to be witnessed in the global microdisplay market from 2019 to 2027. It also focuses on market drivers, restraining factors, and opportunities in the global market. The study provides a complete perspective about growth of the microdisplay market, in terms of value (in US$ Mn), across various geographies including North America, Europe, Asia Pacific, Middle East & Africa (MEA), and South America.
The report includes detailed value chain analysis, which provides an extensive view of the global microdisplay market. Porter’s five forces analysis has also been provided in the report to help understand the competition scenario in the market. The study incorporates market attractiveness analysis, wherein type, projection type, technology, and end-use industry segments have been benchmarked based on their market size, growth rate, and attractiveness. In order to offer complete analysis of the competition scenario in the microdisplay market, attractiveness analysis of the market in every region has been provided in the report.
The market overview chapter explains market trends and dynamics that include drivers, restraining factors, and the current and future opportunities for the global microdisplay market. Market outlook analysis has also been provided in the report. Additionally, the report provides analysis of different business strategies being adopted by leading players operating in the global microdisplay market. The market introduction chapter helps in gaining an idea of different trends prevalent in the global microdisplay market.
Global Microdisplay Market: Scope of Report
The study provides a decisive view of the global microdisplay market, by segmenting the market in terms of type, projection type, technology, and end-use industry. The report provides a detailed, region-wise segmentation of the global microdisplay market and sub-categorizes it into various countries, thereby providing valuable insights at micro and macro levels.
The report further highlights the competition scenario in the global microdisplay market, thereby ranking all major players according to their geographical presence and key recent developments. Insights for the market is a result of extensive primary interviews, secondary research, and in-house expert panel reviews. Market estimates have been analyzed by considering the impact of different economic, political, social, legal, and technological factors.
The microdisplay market in North America has been segmented into Canada, the U.S., and Rest of North America. Furthermore, the Europe market has been divided into France, Germany, the U.K., and Rest of Europe. The microdisplay market in Asia Pacific has been classified into China, India, Japan, South Korea, Taiwan, and Rest of Asia Pacific. Middle East & Africa comprises GCC, South Africa, and Rest of Middle East & Africa. Similarly, South America includes Brazil and Rest of South America. The report provides all strategic information required to understand the global microdisplay market. The report also offers insights into different type, projection type, technology, and end-use industry segments of the market in various regions mentioned above.
Global Microdisplay Market: Research Methodology
The research methodology is a perfect combination of primary research, secondary research, and expert panel reviews. Secondary research sources include annual reports, company websites, SEC filings, investor presentations, national government documents, internal and external proprietary databases, statistical databases, relevant patent and regulatory databases, market reports, government publications, and statistical databases.
Primary research involves telephonic interviews, e-mail interactions, and face-to-face interviews for detailed and unbiased reviews of the microdisplay market across geographies. Primary interviews are usually conducted on an ongoing basis with market experts and participants in order to obtain the latest market insights and validate the existing data and analysis. Primary interviews offer new and fresh information on important factors such as market trends, market size, competition landscape, and growth trends. These factors help validate and strengthen secondary research findings. Moreover, the data collected from secondary and primary research is discussed and examined by TMR’s expert panel.
Global Microdisplay Market: Competition Dynamics
The research study includes profiles of leading companies operating in the global microdisplay market. Market players have been profiled in terms of attributes such as company overview, financial overview, business strategies, and recent developments. Key players profiled in the report are AU Optronics Corp, eMagin Corporation, Himax Technology Inc., KopIn Corporation Inc., LG Display Co. Ltd, Microvision Inc., Omnivision Technologies, Inc., Sony Corporation, Syndiant Inc., and Universal Display Corporation. Companies are focusing on expanding their business through strategic acquisitions and partnerships.
The Microdisplay market has been segmented as follows:
Global Microdisplay Market, by Type
Global Microdisplay Market, by Projection Type
- Near-to-eye Displays (NEDs)
Global Microdisplay Market, by Technology
- Liquid Crystal on Silicon (LCoS)
- Liquid Crystal Displays (LCDs)
- Digital Light Processing (DLP)
- Organic Light-emitting Diodes (OLEDs)
- Others (DMD, Holographic Displays, etc.)
Global Microdisplay Market, by End-use Industry
- Consumer Electronics
- Military, Defense and Aerospace
- Sports & Entertainment
- Retail & Hospitality
Global Microdisplay Market, by Region
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of South America