Microdisplay Market by Technology (OLED, LCoS, LCD, DLP) Resolution, Brightness, and Region - Global Forecast to 2024

The microdisplay market is estimated to grow from USD 972 million in 2018 to USD 3,583 million by 2024, at a CAGR of 24.3% from 2018 to 2024. The small size, high resolution, and low power consumption of microdisplays allow their use in head-mounted displays (HMDs), head-up displays (HUDs), electronic viewfinders (EVFs), and several other devices.

Sony (Japan); Seiko Epson (Japan); eMagin Corporation (US); Kopin Corporation (US); OLiGHTEK (China); Himax Technologies (Taiwan); HOLOEYE Photonics (Germany); WiseChip Semiconductor (Taiwan); Raystar Optronics (Taiwan); and WINSTAR Display (Taiwan) are a few key players in the microdisplay market.

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HMDs to propel microdisplay market growth during forecast period

Projectors and cameras/EVFs have been dominating the microdisplay market by accounting for the largest market size, with major players such as Epson and Sony active in the projector and camera market. However, saturation in projector and camera shipments would lead to slower growth of the microdisplay market than that for other emerging products. Shipment growth will mainly be driven by accelerating demand for microdisplays to be deployed in HMDs and HUDs during the forecast period. The increasing use of AR glasses in the industrial and enterprise industry for providing on-the-job training to field workers, warehouse management, maintenance and inspection activities, and so on creates significant demand for HMDs. With high growth in unit shipments in AR HMDs, the market is expected to grow tremendously during the forecast period.

“Market for OLED technology expected to grow at highest CAGR from 2018 to 2024”

Vendors demand small form factor microdisplays with enhanced features, such as high-power efficiency, faster response, and better contrast. OLED is one of the technologies used in microdisplays that fulfills these requirements. OLED is emerging as a leading display technology in the market where a lot of developments are happening, and its adoption is expected to increase rapidly during the forecast period. OLED technology offers several advantages, such as wider viewing angles, higher temperature range, faster refresh rate, and better contrast. Initially, there were a limited number of players offering OLED microdisplays in the market; however, as the demand for OLED microdisplays is increasing readily, companies are focusing on R&D and commercialization of OLED displays. The increasing demand for HMDs and HUDs would provide lucrative opportunities for the growth of the microdisplay market for OLED technology in the coming years. Magic Leap, Meta, ODG, and Epson are a few key vendors who offer AR HMDs that consist of OLED microdisplays.

“Japan to hold largest share of microdisplay market worldwide during forecast period”

The market in APAC, especially in Japan and China, has a huge potential for growth. Currently, key AR HMD vendors are based in North America and Europe; however, during the forecast period, vendors from APAC are expected to capture the market share and emerge as leading customers in APAC. In the last 2 years, APAC witnessed remarkable growth in VR HMD vendors such as Sony, HTC, Samsung, and TCL. These vendors are currently utilizing the direct-view display for VR HMDs; however, with the development of advanced microdisplays for VR HMDs, high demand for microdisplays can be expected in the VR HMD segment from APAC.

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