Microdisplay refers to a miniature electronic display technology designed to be compact and lightweight, suitable for integration into various devices such as head-mounted displays, virtual reality (VR) and augmented reality (AR) headsets, smart glasses, digital cameras, and portable projectors.
Sizing and Forecast
The microdisplay market size has grown exponentially in recent years. It will grow from $1.45 billion in 2023 to $1.76 billion in 2024 at a compound annual growth rate (CAGR) of 21.2%. The growth in the historic period can be attributed to increased adoption in consumer electronics, increased demand in entertainment and gaming, automotive huds and ar displays, rise in virtual reality (vr) and augmented reality (ar), reduction in manufacturing costs.
The microdisplay market size is expected to see rapid growth in the next few years. It will grow to $3.56 billion in 2028 at a compound annual growth rate (CAGR) of 19.3%. The growth in the forecast period can be attributed to 5g technology integration, emergence of micro-led technology, healthcare industry expansion, increased use in iot devices, demand in aerospace and aviation. Major trends in the forecast period include advancements in holographic displays, sustainable display technologies, foldable and flexible displays, product innovations, integration with biometric sensors.
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Segmentation & Regional Insights
The microdisplay market covered in this report is segmented –
1) By Product: Near-To-Eye (NTE) Devices, Head-Up Displays (HUDs), Projectors, Other Products
2) By Brightness: Less Than 500 Nits, 500–1,000 Nits, More Than 1,000 Nits
3) By Resolution: Lower Than HD(High Definition), HD(High Definition), FHD (Full High Definition), Higher Than FHD (Full High Definition)
4) By Technology: Liquid Crystal Display (LCD), Liquid Crystal On Silicon (LCOD), Organic Light-Emitting Diode (OLED), Digital Light Processing (DLP)
5) By Vertical: Consumer, Automotive, Industrial And Enterprise, Military, Defense, And Aerospace, Retail And Hospitality, Medical, Education, Sports And Entertainment, Other Verticals
North America was the largest region in the microdisplay market in 2023. Asia-Pacific is expected to be the fastest-growing region in the microdisplay market report during the forecast period. The regions covered in the microdisplay market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The surging use of microdisplays in the automotive industry is expected to propel the growth of the microdisplays market going forward. The automotive industry is a sector that encompasses numerous organizations and firms involved in the design, development, manufacture, marketing, selling, and maintenance of motor vehicles. Microdisplays provide flexibility, low power usage, high luminance and contrast, and high pixel density in automotive applications. For instance, according to the Bureau of Transportation Statistics (BTS), a US-based agency that publishes information on transportation systems, new vehicle sales increased to 11,741 (Thousands of vehicles) in 2021 from 11,041 (Thousands of vehicles) sales in 2020. Therefore, the growing automotive industry is driving the microdisplay market.
Key Industry Players
Major companies operating in the microdisplay market report are Sony Semiconductor Solutions Corporation, Panasonic Corporation, Kopin Corporation, Micron Technology Inc., Toshiba Corporation, LG Display Co. Ltd, Sharp Corporation, Kyocera Corporation, Seiko Epson Corporation, AUO Corporation, Konica Minolta Inc., Himax Technologies Inc., Universal Display Corporation, CEA-Leti, WiseChip Semiconductor Inc., Microtips Technology LLC, MicroOLED SAS, Vuzix Corporation, HOLOEYE Photonics AG, Jasper Display Corp., Syndiant Inc., Jade Bird Display Ltd., Dresden Microdisplay GmbH, Fraunhofer FEP, Microvision Inc, Miyota Co. Ltd, Yunnan OLiGHTEK Opto-Electronic Technology Co. Ltd., Samsung Display Co. Ltd., Pixel Display Inc.
The microdisplay market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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