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.
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.
Access Research Report of Microdisplays Market@ https://www.grandviewresearch.com/industry-analysis/microdisplays-market
Further key findings from the study suggest that:
· 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.
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)
·
OLED
·
LCD
·
DLP
·
LCoS
Microdisplays Projection Outlook (Revenue,
USD Million, 2015 - 2025)
·
Near-to-Eye
·
Projection
·
Others
Microdisplays Application Outlook (Revenue,
USD Million, 2015 - 2025)
·
Consumer Electronics
·
Military & Defense
·
Medical
·
Industrial
·
Automotive
·
Others
Microdisplays Regional Outlook (Revenue,
USD Million, 2015 - 2025)
·
North America
o
U.S.
o
Canada
o
Mexico
·
Europe
o
U.K.
o
Germany
o
France
o
Spain
o
Italy
·
Asia Pacific
o
India
o
China
o
Japan
o
South Korea
·
RoW
o
Brazil
o
MEA
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
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