Micro Display Market Analysis
The global micro display market size will touch USD 1.8 billion at a 14% CAGR during the forecast period 2020- 2027, states the latest Market Research Future (MRFR) analysis. A micro display is a miniaturized display which has a high resolution, intense pixel density, and user configurable technology. It has major applications in smart bands, smart watches, and smart glasses to offer quality image ratio and high contrast to consumers. Besides, it also offers super extended graphics for better brightness and enhanced angle visibility.
Various factors are fuelling the global micro display market growth. As per the recent MRFR market estimates, such factors include the growing adoption of portable devices, increasing application of micro displays, growing demand for augmented reality displays excellent picture quality and high resolution, evolution of micro display technologies, high demand for high resolution for high resolution micro displays, technological advancements and compact size in micro displays, growing adoption of HMD in several industries, escalating need for OLED micro displays, rising global adoption of advanced driver-assistance systems and HUD, and the increasing use of micro displays to detect patients positively affected through cough and blood samples during the current COVID-19 situation. The additional factors adding market growth include the increasing use in wearable devices, growing demand for AR devices in healthcare applications, adoption of micro displays in aerospace and defense, and growing need for medical displays.
On the contrary, high manufacturing cost, high maintenance cost, saturation of markets for projectors and digital cameras, and development of power-efficient micro displays with brightness and high-resolution may limit the global micro display market growth over the forecast period.
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Market Segmentation
The MRFR report throws light on an inclusive segmental analysis of the global micro display market based on end users, technology, and product.
By technology, the global micro display market is segmented into DLP, LCoS, LCD, and OLED. Of these, the OLED technology segment will lead the market over the forecast period.
By product, the global micro display market is segmented into HMD, EVF, headsets, projectors, and smart glasses. Of these, the HMD product segment will dominate the market over the forecast period.
By end user, the global micro display market is segmented into education, commercial, aerospace, automotive, defense, consumer electronics, industrial, and healthcare. Of these, the defense end user segment will spearhead the market over the forecast period.
Regional Analysis
By region, the global micro display market covers the recent trends and growth opportunity across Europe, the Asia Pacific (APAC), North America, and Rest of the World (RoW). Of these, North America will be the driving force in the market over the forecast period. Increasing need for projectors by educational institutes, growing use of advanced technologies, the increasing use of ICT technologies in the educational sector that is transforming classroom teaching, high military expenditure by the US government, increasing spending on micro display applications, and ongoing projects are adding to the global micro display market growth in the region. Canada and the US have the utmost market share.
In the APAC region, the global micro display market is predicted to grow at a fast pace over the forecast period. The growing need for high-end technology, rising sale of consumer electronics like tablets and smartphones, highest demand for micro displays in products like HUD, projectors, and cameras/EVF, rapid industrialization, the presence of a massive number of OEMs and consumers, growing adoption in different industries such as defense and aerospace, military, automotive, industrial and enterprise, and consumer, the presence of a substantial number of micro display manufacturers, decrease in the price of micro displays, and increasing penetration of micro display-based devices are adding to the global micro display market growth in the region. South Korea, Japan, and China have the utmost market share.
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Key Players
The eminent players profiled in the global micro display market report include eMagin Corporation (US), HOLOEYE Photonics AG (Germany), MICROOLED (France), Japan Display Inc. (Japan), Dresden Micro display GmbH (Germany), Microtips Technology, LLC (US), Jasper Display Corp. (Taiwan), Syndiant (US), WiseChip Semiconductor Inc. (Taiwan), RAONTECH (South Korea), Opto-Electronic Technology Co., Ltd. (China), Yunnan OLiGHTEK, Himax Technologies, Inc. (Taiwan), Kopin Corporation (US), and Seiko Epson Corporation (Japan), among others.
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