SAN FRANCISCO, June 12, 2019 /PRNewswire/ -- The global microdisplays market size is poised to reach USD 3.42 billion by 2025, according to a new study by Grand View Research, Inc., progressing at a CAGR of 19.1% during the forecast period. A microdisplay is a microminiaturized display with a diagonal screen size of less than two inches. Microdisplays are compact small-sized displays with a large number of pixels and high resolution. These are commonly used in head-mounted displays (HMDs), head-up displays (HUDs), rear-projection TVs, and digital cameras. Increasing adoption of consumer electronics, rising consumer preferences for miniature displays, and widening application scope of the product are among the primary growth stimulants for the market.
Key suggestions from the report:
- North America held the highest share in the market in 2017 owing to rising demand for digital cameras viewfinders in military and defense applications. High military spending to provide their soldiers OLED microdisplay-based night vision systems is poised to stimulate the growth of the regional market
- Asia Pacific is likely to witness the highest growth during the forecast period owing to spiraling adoption of smart devices by a large number of consumers and increasing demand across various industries
- Burgeoning popularity of VR gaming headsets and smart glasses among consumers is expected to contribute to the growth of the near-to-eye segment
- Prominent market players such as Sony Semiconductor Solutions Corporation, Kopin Corporation, and eMagin Corporation are focused on developing technologically advanced display solutions to enhance resolution and reduce associated manufacturing costs of finished products.
Read 90 page research report with TOC on "Microdisplays Market Size, Share & Trends Analysis Report By Projection (Projection, Near-to-Eye), By Application (Medical, Automotive), By Technology (OLED, LCD, DLP, LCoS), and Segment Forecasts, 2018 - 2025" at: https://www.grandviewresearch.com/industry-analysis/microdisplays-market
Microdisplays utilize CMOS (complementary metal - oxide - semiconductor) chips that include a two-dimensional array of transistors. Microdisplays are being increasingly used in rear-projection TVs to increase voice and image clarity, besides reducing the overall cost. Excellent picture quality, high resolution, compact size, and low power consumption have led to increased adoption of microdisplays in consumer electronics, military & defense, and medical applications. In 2017, LCD-based displays dominated the market owing to their low cost, relatively high brightness, and a rather simple manufacturing process.
Moreover, high consumer demand for small form factor (SFF) microdisplay devices with improved features, such as faster response, more colorfulness, higher power efficiency, and better contrast is projected to create significant opportunities for vendors in the market. Furthermore, OLED is a next-generation technology replacing LCD in several applications, such as digital cameras, fitness watches, and smartphones.
Key manufacturers are also highly focused on R&D initiatives to innovate new display technologies based on OLED, LCoS (Liquid Crystal on Silicon), and holographic displays. For instance, in May 2018, Sony Semiconductor Solutions Corporation introduced a high-class UXGA resolution OLED microdisplay with the smallest pixel size of 6.3 micrometers.
These displays are being increasingly used for military and medical applications, such as monochrome night-vision systems to provide an improved visual experience to soldiers, real-time augmented displays, and monitoring patient vitals. This, in turn, is anticipated to drive the microdisplays market over the forecast period.
Prominent market players are strategically focusing on partnership agreements that would help them to introduce new products and enhance their geographical presence. High manufacturing costs associated with these displays are estimated to hamper the growth of the global microdisplays market.
Grand View Research has segmented the global microdisplays market on the basis of technology, projection, application, and region:
- Microdisplays Technology Outlook (Revenue, USD Million, 2015 - 2025)
- Microdisplays Projection Outlook (Revenue, USD Million, 2015 - 2025)
- Microdisplays Application Outlook (Revenue, USD Million, 2015 - 2025)
- Consumer Electronics
- Military & Defense
- Microdisplays Regional Outlook (Revenue, USD Million, 2015 - 2025)
- North America
- Asia Pacific
- South Korea
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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