Microdisplay Market by Product Type (NTE, Projection), Technology (OLED, LCoS, LCD, DLP), Application (Consumer, Industrial, Military, Defense, and Aerospace, Automotive, Commercial, Medical, Education), Resolution, and Region - Global Forecast to 2023
“Microdisplay market expected to grow at a CAGR of 13.2% between 2017 and 2023”
The Microdisplay market is estimated to be valued at USD 812.0 million in 2017 and is expected to reach USD 1,706.3 million by 2023, at a CAGR of 13.2% between 2017 and 2023. The rising adoption of portable devices such as HMDs and HUDs and increasing application areas of microdisplays are the major drivers for the microdisplay market growth, while the low performance of microdisplays at high temperatures restrains the growth of the microdisplay market.
“Microdisplay market for industrial and enterprise application expected to grow at the highest CAGR during forecast period”
The market for the industrial and enterprise application is expected to grow at the highest CAGR between 2017 and 2023. In the industrial and enterprise application, increasing adoption of microdisplay devices such as AR glasses used for on-the-job training to field workers, warehouse management, maintenance and inspection, freight loading and transportation, and field repair services is the major driving factor for the growing adoption of microdisplays for the industrial and enterprise application.
“LCD technology held largest share of the microdisplay market in 2016”
The LCD technology held the largest share of the microdisplay market in 2016. The LCD technology is used in HMDs, HUDs, EVFs, thermal imaging glasses, and wearable devices, owing to its advantages such as high brightness, low cost, less heating, and easy manufacturing. Moreover, the LCD technology helps microdisplay device manufacturers reduce the size of the devices at an early stage.
“Microdisplay market in APAC expected to grow at highest CAGR during forecast period”
The microdisplay market in APAC is expected to grow at the highest CAGR between 2017 and 2023. The large consumer market in China and the presence of a large number of OEMs are driving the microdisplay market in the region. Moreover, technological advancements, changing consumer behavior, and decreasing ASPs of microdisplay devices help drive the growth of this market in the region.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews have been conducted with people holding key positions across several regions. The breakup of the profiles of primary participants has been given below:
• By Company Type: Tier 1 – 25%, Tier 2 – 45%, and Tier 3 – 30%
• By Designation: C-Level Executives – 35%, Directors – 45%, and Others – 20%
• By Region: North America – 40%, Europe – 22%, APAC – 30%, and RoW – 8%
The major players in the microdisplay market are eMagin Corporation (US), Himax Technologies, Inc. (Taiwan), Kopin Corporation (US), Yunnan OLiGHTEK Opto-Electronic Technology Co., Ltd. (China), Seiko Epson Corporation (Japan), WiseChip Semiconductor Inc. (Taiwan), Syndiant (US), RAONTECH (South Korea), Microtips Technology, LLC (US), MICROOLED (France), Jasper Display Corp. (Taiwan), Japan Display Inc. (Japan), HOLOEYE Photonics AG (Germany), and Dresden Microdisplay GmbH (Germany).
The report defines, describes, and forecasts the microdisplay market based on product type, technology, resolution, application, and geography. It provides detailed information regarding the major factors influencing the growth of the microdisplay market (drivers, restraints, opportunities, and industry-specific challenges). It also analyzes the competitive developments such as joint ventures, collaborations, agreements, contracts, partnerships, mergers and acquisitions, and product launches carried out by key players to grow in the market.
Reasons to Buy the Report:
• Illustrative segmentation, analysis, and forecast pertaining to the microdisplay market based on product type, technology, resolution, application, and geography have been conducted to provide an overall view of the microdisplay market.
• Major drivers, restraints, opportunities, and challenges affecting the microdisplay market growth have been detailed in this report.
• The report includes a detailed competitive landscape of the key players in the market and their revenues.