About the Microdisplay Market
Microdisplays are microminiaturized displays having a screen size of less than 25 millimeters (screen size refers to the diagonal distance from one corner to the opposite corner of the screen). They are high-density screens with high resolution and are used in magnified display systems. Microdisplays are often used in conjunction with magnifying optics because of their miniature size. They are used for two basic applications: projection and near-to-eye display. These applications are used in a number of devices across sectors such as consumer electronics, automotive, healthcare, and industrial. Microdisplays can be incorporated in a number of visual electronic products, with new 3G portable communications devices, digital camera wireless applications, portable DVDs, and PCs.
Technavio’s analysts forecast the global microdisplay market to grow at a CAGR of 23.7% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global microdisplay market for 2016-2020. To calculate the market size, the report covers the entire range of microdisplay technologies and considers the revenue generated from the sales of microdisplays to the key customer segments: military, aerospace and defense; commercial; industrial; medical; law enforcement and rescue; and automobile.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Microdisplay Market 2016-2020
Technavio recognizes the following companies as the key players in the global microdisplay market: AU Optronics, eMagin, Kopin, and Universal Display.
Other Prominent Vendors in the market are: Cambridge Display Technology Ltd., Epson Corp., Fourth Dimension Displays Ltd., Himax Display Inc., LG Display Co. Ltd., Liteye Systems Inc., Micron Technologies Inc., Microvision Inc., Syndiant Inc., and Wisechip Semiconductor Inc.
Commenting on the report, an analyst from Technavio’s team said: “A trend which is expected to boost market growth is the emerging demand from the automotive industry. Tightening of vehicle safety regulations worldwide will trigger the demand for safety systems such as HUDs, cameras, and pre-crash sensors. Due to vehicle safety regulations, automotive OEMs are increasingly focusing on integrating safety features in automobiles. Europe introduced regulations on new vehicle safety features on November 1, 2014, making the fitting of electronic stability control systems on all vehicles mandatory.”
According to the report, a driver which is expected to impact market growth positively is the focus on reducing global aircraft accident rates. According to International Civil Aviation Organization, the global accident rate (number of accidents per million departures) was recorded at 2.8 in 2013, which was decreased by 13% from 3.2 accidents per million departures in 2012. This was because of the increasing focus on improving aviation safety through collaboration with established regional organizations such as Regional Aviation Safety and Regional Safety Oversight Organizations and leverage new technologies through new systems and equipment such as Heads Up Display (HUD).
Further, the report states that one challenge that could restrict market growth is technical issues and design limitations.
AU Optronics, eMagin, Kopin, Universal Display, Cambridge Display Technology Ltd., Epson Corp., Fourth Dimension Displays Ltd., Himax Display Inc., LG Display Co. Ltd., Liteye Systems Inc., Micron Technologies Inc., Microvision Inc., Syndiant Inc., Wisechip Semiconductor Inc.