Microdisplay Market by Source, Trends , Type, Application & Geography , Global Forecast to 2024

The microdisplay market was valued at USD 972.2 million in 2018 and is expected to reach USD 3.58 billion by 2024, at a CAGR of 24.3% from 2018 to 2024. Factors such as compact size and technological advancements of microdisplays; increased adoption of HMDs in several industries; escalated demand for OLED microdisplays; and adoption of Advanced Driver-Assistance System and surge in demand for head-up displays are driving the market toward high growth.

A microdisplay is a microminiaturized display, usually with a screen size of less than 1 inch diagonally. Microdisplays are manufactured using four major technologies— Liquid Crystal Display, Liquid Crystal on Silicon, Organic Light-Emitting Diode, and Digital Light Processing. Several features such as compactness, high resolution, and low power consumption of these displays make them suitable for head-mounted displays (HMDs), heads-up displays (HUDs), electronic viewfinders (EVFs), and several other devices.

Browse 78 market data Tables and 74 Figures spread through 176 Pages and in-depth TOC on "Microdisplay Market - Global Forecast to 2025"

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OLED microdisplays to dominate the market during the forecast period

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 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

 “Japan to lead the microdisplay market in terms of market size during forecast period”

The high share or demand for microdisplays in Japan is majorly due to the prominent presence of key vendors of cameras/EVFs and projectors in the country. Majority of the current demand for microdisplays is for products—cameras/EVFs and projectors. Japanese vendors hold a share of more than 95% of the global camera market, while they hold a share of more than 50% of the global projector market. The increasing demand for HMDs and HUDs is expected to propel the market in Japan as Japan also comprises major suppliers of HMDs and HUDs. Automotive; consumer; and industrial and enterprise are key industries in Japan in which microdisplay-based devices are used. Major microdisplay providers in Japan include Seiko Epson, Sony, and Citizen Finedevice.

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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