Published: Nov, 2018
Transparency Market Research (TMR) observes, the global microdisplay market is highly conciliated due to presence of number of companies operating in the market. Some of the key players operating in the global retail digital transformation market are AU Optronics Corp., Universal Display Corporation, eMagin Corporation, LG Display Co. Ltd., Seiko Epson Corporation. The market players are expected to take part in the mergers and acquisitions by acquiring the invalid and redundant players in the global market for microdisplay.
A report estimates, the global microdisplay market is expected to attain value of US$1,350.2 mn by the end of 2022 with a CAGR of 10.8% over the forecast period of 2017 to 2022. The market was valued at revenue of US$809.8 mn in 2017. Based on type, the LCD segment was valued at US$417 mn in 2017 by accounting for the 51.5% shares in the global microdisplay market. Based on region, the Asia Pacific excluding Japan (APEJ) is expected to attain valuation of US$580.1 mn by the end of 2022 by accounting more than 40% shares of the global market. Japan is one of the major contributors to the global microdisplay market and is expected to expand with a CAGR of 6.3% over the forecast period.
Proliferation of Electronics Industry to Propel Growth of Market
Growing demand for microdisplay is predicted to continue over the forecast period due to substantial rise of the electronics industry, from past decade. Several consumer electronics devices such as irons, mobile phones, watches, and numerous wearable devices which are equipped with microdisplay in order to show different readings and parameters.
Furthermore, use of microdisplay is growing due to growing uptake of microdisplay across the defense and aerospace sectors, which is further improving of growth the global market for microdisplay. Additionally, smart glasses have emerged as key product in and with important advancement in numerous industries owing to the enhanced experiences which they offer. The tremendous popularity of virtual and augmented reality has also been an important factor for the growth of the global microdisplay market.
Developing Economies to Augment Growth
Despite these factors, countries such as Japan, China, Korea, and Taiwan has transformed the electronics industry from past decade. Surge in number of high-tech electronics and its availability have glutted the market, originating from the aforementioned regions to the globally. Thus, the growth of the global microdisplay market is attributable to the technology has been survived by these emerging economies. Besides, high demand for artificial and virtual reality in the Asia Pacific is leading to the development of multiple industries. Additionally, the microdisplay are available in low cost in the region which is again propelling growth of the global microdisplay market.
This information is encompassed in the new report by TMR, titled “Microdisplay Market (Technology - LCD, LCoS, DLP, OLED; Application - Near to Eye, Projection; End Use - Automobile, Consumer Electronics, Aerospace and Defense, Medical, Industrial Sector) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2022.”
For the study, the microdisplay market has been segmented as follows:
- Near to Eye
By End Use
- Consumer Electronics
- Aerospace and Defense
- Industrial Sector
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Saudi Arabia
- Rest of Middle East & Africa
Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals.
Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information we offer customized solutions through ad hoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.
TMR believes that unison of solutions for clients-specific problems with right methodology of research is the key to help enterprises reach right decision.
90 State Street, Suite 700
Albany, NY 12207
USA - Saudi Arabia Toll Free: 866-552-3453