Microdisplay market : key players , Industry Trends and Technology outlook - 2020 to 2025
MicrodisplayMarket Dynamics
Driver: Growing demand for OLED microdisplays
OLED technology enables the development of thin, efficient, and bright displays comprising thin films of organic light-emitting (OLED) materials that emit light when electricity is applied to them. Several industry experts believe OLEDs are set to replace existing technologies in the display ecosystem. As such, a significant number of companies have started investing increasingly in research and development activities related to OLED.
Restraint: Saturation of markets for digital cameras and projectors
Cameras are optical instruments used for capturing and recording images, which are stored in a digital system. EVFs are camera viewfinders that project images captured by the lenses on microdisplays to help cameras aim at the targets to be photographed or viewed. They are mostly used in digital still cameras and video cameras. The overall global digital camera and projector market is maturing, and its growth is naturally slowing down as the market has become nearly saturated. The demand for microdisplays used in digital cameras is decreasing owing to reduced demand for these cameras. Moreover, data projectors are also witnessing a decrease in their shipments. Thus, reduced demand for digital cameras and projectors acts as a restraint for the growth of the microdisplay market.
Opportunity: Increase in demand for medical displays owing to the outbreak of COVID-19
The outbreak of the COVID-19 pandemic has abruptly generated the requirement of a large number of healthcare facilities to treat an exponentially growing number of infected patients worldwide. Most of the economies of the world at present are focusing on expanding their healthcare facilities. For instance, China built an emergency hospital with over 1,000 beds, in just 10 days, to treat COVID-19 patients in Wuhan. Such projects are anticipated to increase the demand for embedded medical displays sharply.
Japan to account for a larger share of the microdisplay market in 2020
Japan is estimated to account for a major share of the microdisplay market in 2020. The growth of the market in Japan can be attributed to the prominent presence of key vendors of cameras/EVF and projectors in the country. Japan-based vendors hold the majority of the share of the global camera market, while they hold a share of ~50% of the global projector market. Moreover, China is expected to be the key factor leading to a decline in average selling prices (ASP) of microdisplays during the forecast period owing to the presence of microdisplay manufacturing facilities in the country. Rising adoption of technologically-advanced consumer products, such as HMD, is expected to boost further the growth of the microdisplay market for consumer, education, medical, and other industries in China.
HMD segment of microdisplay market for medical to grow at highest CAGR from 2020 TO 2025
The healthcare sector has witnessed rapid technological advancements over the years, and various kinds of advanced imaging equipment have been introduced in the market for use in healthcare applications. The healthcare sector has been one of the most important and practical applications of AR in the current market scenario, wherein 3D technology is used to generate 3D images of the affected body parts.
In the healthcare sector, microdisplay-based products are used for training, simulation, data display, and microsurgery applications. AR smart glasses are used for imparting medical training, as well as for assisting doctors during surgeries. The AR/VR headsets allow medical students to receive personalized training. Medical students can use AR headsets to touch a 3D body and practice surgery, thereby allowing them to learn, practice, and study, even from home, with personalized AR/VR headsets.
Sony Corporation (Sony Semiconductor Solutions Corporation) (Sony) (Japan); Seiko Epson Corporation (Seiko Epson) (Japan); eMagin Corporation (eMagin Corporation) (US); Kopin Corporation (Kopin Corporation) (US); Yunnan OLiGHTEK Opto-Electronic Technology Co., Ltd. (OLiGHTEK) (China); Himax Technologies, Inc. (Himax) (Taiwan); HOLOEYE Photonics AG (HOLOEYE Photonics) (Germany); WiseChip Semiconductor Inc. (WiseChip) (Taiwan); Raystar Optronics., Inc. (Raystar Optronics) (Taiwan); and WINSTAR Display Co., Ltd. (WINSTAR) (Taiwan) are the key players in the microdisplay market.
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