| Status : Published | Published On : Jul, 2021 | Report Code : VRSME9047 | Industry : Semiconductor & Electronics | Available Format :
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Page : 250 |
Global Microdisplays Market – Analysis and Forecast (2021-2027)
Industry Insight by Product (Near-to-Eye Display Devices (NTE), HUD, and Others), by Technology (OLED, LCD, LCoS, and DLP ), by Resolution (1920×1080 and >1920×1080, 1024×768 and 1280×1024, 800×600, 800×480, and 854×480, <640×480 and 640×380, <640×480 and 640×380), by Brightness (less than 500 nits, 500 to 1,000 nits, and more than 1,000 nits), by Industry (Consumer, Industrial & Enterprise, Automotive, Military, Defense, and Aerospace, Sports & Entertainment, Retail & Hospitality, Medical, Education, and Others), and Geography (U.S., Canada, Germany, U.K., France, China, Japan, India, and Rest of the World)
Industry Overview
The global microdisplays market is anticipated to grow from USD 710 million in 2020 to USD 3756 million by 2027, growing at a CAGR of 38.2% during the forecast period.
The microdisplays are defined as a compact and small size display that requires magnifying optics to use it. It encompasses user-configurability technology, high resolution, high pixel density and is used in a wide range of applications such as health monitoring, lifestyle support, entertainment, and fitness monitoring via smartwatches, smart bands, and smart glasses. Factors propelling the growth of the microdisplays market include compact size, technological development in microdisplays, increasing demand for AR devices in the healthcare sector, increasing adoption of wearable devices, increasing use of HMD in various industries, rising demand for OLED microdisplays, and increasing adoption of ADAS and HUD. There is extensive use of microdisplays in the defense & military sector for faster performance and real-time monitoring.
The COVID-19 outbreak has adversely impacted the global microdisplays market. It has disrupted the production and supply chain of consumer electronics and manufacturing industries. Many R&D activities and new product launches are postponed due to the deadly coronavirus, hampering the growth of the global microdisplays market. However, the manufacturing sector will slowly return to a normal post-COVID-19 situation resulting in a gradual supply of devices.
Market Segmentation
Insight by Product
Based on product, the market is divided into near-to-eye display devices (NTE), HUD, and others. The NTE display devices dominate the market during the forecast period owing to the growing demand for AR glasses in industrial applications, on job training of field personnel, maintenance and inspection activities, and the rising use of VR headsets in entertainment and gaming applications are fueling the growth of this segment. The HUD segment will witness the fastest growth in the microdisplays market as it offers various advantages in the automotive industry.
Insight by Technology
Based on technology, the market is categorized into OLED, LCD, LCoS, and DLP. The LCD segment is anticipated to dominate the market during the forecast period owing to its use in HUDs, HMDs, and Electronic Viewfinder (EVFs). The OLED segment is anticipated to have the fastest growth during the forecast period owing to its widespread use in smartphones, TV, and other consumer appliances. The OLED microdisplays have a compact size, high pixel density, high power efficiency, low cost, and improved resolution, encouraging market players to focus on OLED displays.
Insight by Resolution
Based on the resolution, the global microdisplays market is divided into 1920×1080 and >1920×1080, 1024×768 and 1280×1024, 800×600, 800×480, and 854×480, <640×480 and 640×380, <640×480 and 640×380. The 1920×1080 and >1920×1080 are expected to witness high CAGR during the forecast period. The high-resolution, high-pixel-density displays used in micro-displays provide excellent image quality with no sub-pixel changes.
Insight by Brightness
Based on brightness, the global microdisplays market is categorized into less than 500 nits, 500 to 1,000 nits, and more than 1,000 nits. The less than 500 nits are anticipated to hold the largest market share in the brightness category owing to the use of low-resolution microdisplays by end-users in the field of consumer electronics, military & defense, and aerospace to provide low brightness or brightness. The more than 1000 nits are anticipated to have the fastest growth over the forecast period due to the adoption of AR/VR devices.
Insight by Industry
Based on industry, the global microdisplays market is segmented into consumer, industrial & enterprise, automotive, military, defense and aerospace, sports & entertainment, retail & hospitality, medical, education, and others. The consumer electronics segment holds the largest market share due to rising demand for compact and lightweight VR glasses, adoption of HMD in sports & entertainment, and increasing demand for displays to provide clearer images and wide-angle views to the user. The military segment also holds dominates the global microdisplays market owing to the rising demand for OLED microdisplays in thermal imaging simulation, and training.
Industry Dynamics
Industry Trends
One of the industry trends in the microdisplays market is the rising use of OLED microdisplays in consumer electronics and automotive industries, especially AR and VR devices. The adoption of wearable devices in defense, sports & fitness, industrial enterprise, is giving an edge in the microdisplays market. The increasing trend of nanotechnology devices will propel the market growth of the global microdisplays market.
Growth Drivers
Factors driving the growth of the global microdisplays market is the rising demand of ADAS in passenger and commercial vehicles, rising usage of NTE device-based applications such as HUD, AR/VR, evolving microdisplays in terms of size and technology, rising adoption of HMD in various industries, rising demand of OLED microdisplays, and use in holographic displays will further boost the market growth.
Challenges
The development of microdisplays that have a compact form factor and achieve a wide field of view and high resolution is expected to be a major challenge for microdisplays manufacturers. Furthermore, high manufacturing cost, low picture quality at high temperature, a saturation of markets for digital cameras and projectors, rising R&D may hamper the market growth of the global microdisplays market.
Opportunities
The COVID-19 pandemic has led to an increase in the demand for microdisplays in the medical sector as it is used in CT scans, ECG machines, oxygen meters, etc. and are lucrative opportunities for the growth of the global microdisplays market. The increasing demand for microdisplays in autonomous vehicle systems and AR technology in defense & military applications, the advancement of next-generation micro-LED display technology, and potential growth in emerging markets are lucrative opportunities for the growth of the global microdisplays market.
Geographic Overview
Geographically, APAC has the dominant position in the microdisplays market owing to the presence of a large number of microdisplays manufacturers in the region resulting in the decrease in the price of products and has increased penetration of microdisplay-based devices. The rising demand for ADAS in automobiles, growth in the automotive industry is anticipated to propel the growth of the microdisplay market in the region. North America is anticipated to have rapid growth owing to the use of ICT technologies in the educational sector, and the acceptance of microdisplays devices in the aerospace, military, and defense divisions.
Competitive Insight
The global microdisplays market is highly competitive in nature. Companies are focusing on product launch, merger & acquisition, collaborations with the government, and technological development through which market players are considerably contributing to the market growth and have a competitive edge in the market.
Some of the key players operating in the microdisplays market: Sony Corporation, Seiko Epson Corporation, eMagin, Kopin Corporation, Yunnan OLiGHTEK Opto-Electronic Technology Ltd, Himax Technologies, Inc, Syndiant, UNIVERSAL DISPLAY, AU Optronics Corp., and Micron Technology, Inc.
Sony made its ECX335S microdisplays available in the market through its global partner for vision technologies, namely, Framos.
Kopin Corporation launched its first monochrome double-stack OLED, which emits more than 20,000 nits and has a 1.3-inch 2.6K OLED display with 2560x2560 resolution. The company also launched old samples of full-color 2.6K OLED 1.3-inch diagonal displays using double stacks. The monochrome display was co-developed with Panasonic Corporation and Lakeside Optoelectronic Technology Co., Ltd.
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Microdisplays Market