Micro-Display Market Analysis and Overview
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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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.
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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