Dublin, Nov. 01, 2023 (GLOBE NEWSWIRE) -- The "OLED Microdisplay Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.
The global OLED microdisplay market, which achieved a size of US$ 192.8 million in 2022, is poised for substantial growth, with a projected market value of US$ 670.9 million by 2028. This growth is expected to be driven by a remarkable Compound Annual Growth Rate (CAGR) of 22.3% during the forecast period of 2023-2028.
The Magic of OLED Microdisplays
An organic light-emitting diode (OLED) microdisplay is a compact, high-resolution display known for its rapid response time and exceptional contrast. Common types of OLED microdisplays include projections and near-to-eye displays.
These displays are created using thin films of organic light-emitting materials and circuits on a silicon backplane to control individual pixels and emit light when electricity is applied. OLED microdisplays are widely employed in various applications, including rear-projection televisions, electronic viewfinders (EVFs) for digital cameras, augmented reality (AR) and virtual reality (VR) glasses.
They offer advantages such as high speed and brilliant colors, low power consumption, absence of backlight, faster refresh rates, and a wide operating temperature range. Consequently, OLED microdisplays find extensive use in healthcare, military, electronics, and automotive industries.
Key Market Trends
Several trends are shaping the OLED microdisplay market:
- Consumer Electronics Usage: The increased utilization of OLED microdisplays in consumer electronics worldwide, particularly in digital cameras and VR headsets compatible with smartphones, is driving market growth.
- Miniaturization and Enhanced Display: Consumer preferences for smaller electronic devices with wider-view angles and cleaner images are contributing to market expansion.
- Technological Advancements: Innovations like ultra-high-definition and high-definition (UHD/HD) OLED microdisplays offering excellent contrast ratios are boosting market growth.
- Automotive Prototyping: The adoption of OLED microdisplays in the automotive industry for prototyping vehicle designs and interiors is positively impacting market growth.
- Medical Displays and Wearables: Increasing demand for medical displays and wearables is driving market growth, along with adoption in aerospace and defense for military electronics.
Key Market Segmentation
The market is segmented based on type, resolution, and end-use industry:
By Type:
- Near-To-Eye
- Projections
By Resolution:
- HD
- Full HD
By End-Use Industry:
- Automotive
- Healthcare
- Consumer Electronics
- Military
- Law Enforcement
- Others
By Region:
- North America
- Asia-Pacific
- Europe
- Latin America
- Middle East and Africa
Competitive Landscape
Key players in the global OLED microdisplay market include eMagin Corporation, Fraunhofer FEP, Kopin Corporation, MicroOLED S.A.S. (Photonis Technologies SAS), Seiko Epson Corporation, Silicon Micro Display Inc., Sony Group Corporation, Sunlike Display Tech Corporation, Winstar Display Co. Ltd., and WiseChip Semiconductor Inc.
Key Questions Answered in This Report
- What was the size of the global OLED microdisplay market in 2022?
- What is the expected growth rate of the global OLED microdisplay market during 2023-2028?
- What are the key factors driving the global OLED microdisplay market?
- What has been the impact of COVID-19 on the global OLED microdisplay market?
- What is the breakdown of the global OLED microdisplay market by type?
- What is the breakdown of the global OLED microdisplay market by end-use industry?
- What are the key regions in the global OLED microdisplay market?
- Who are the key players/companies in the global OLED microdisplay market?
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 142 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value (USD) in 2022 | $192.8 Million |
| Forecasted Market Value (USD) by 2028 | $670.9 Million |
| Compound Annual Growth Rate | 23.1% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/4yfmd2
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