Microdisplay Global Market Report 2023: Sector to Reach $3.2 Billion by 2028 at a CAGR of 23.7%

Dublin, June 09, 2023 (GLOBE NEWSWIRE) -- The "Microdisplay Market by Product (HMDs, HUDs, Cameras/EVFs, Projectors), Technology (OLED, LCoS, LCD), Vertical (Consumer, Industrial & Enterprise, Automotive, Retail & Hospitality, Medical), Resolution and Brightness, and Region - Global Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.

The global microdisplay market was valued at USD 1.1 billion in 2023 and is projected to reach USD 3.2 billion by 2028; it is expected to register a CAGR of 23.7% during the forecast period. During the anticipated period, the microdisplay market's OLED segment is expected to experience significant growth.

The rapid rate of adoption of these displays with advanced capabilities and their use in HMDs can be attributed for the segment's expansion. As OLED technology delivers better power, quicker response times, and more color options, OLED microdisplays are being employed in AR HMDs more frequently.

OLED displays for HMDs have been introduced by a number of microdisplay manufacturers, including Kopin Corporation (US), Samsung Electronics (South Korea), and Yunnan OLiGHTEK Opto-Electronic Technology Co., Ltd. (China).

Higher FHD segment is projected to grow at a higher CAGR during the forecast period

The market for higher FHD is projected to grow at a higher CAGR during the forecast period. A standard FHD resolution is characterized by 1,920 pixels horizontally and 1,080 pixels vertically on displays. Fraunhofer FEP demonstrated a curved OLED microdisplay panel at the Society for Information Display (SID) held in the US in 2018. This curved OLED microdisplay is of 1-inch diagonally and has a resolution of 1200x1920. The panel was developed under the LOMID project funded by the European Union.

NTE Devices to register growth at a higher CAGR

NTE Devices is expected to experience a higher CAGR during the forecast period. OLED technology-based microdisplays are increasingly used in NTE devices as OLED technology offers improved power efficiency, fast response, and increased colors. The SVGA+ Rev3 OLED-XL microdisplay is a power-efficient OLED display solution provided by eMagin Corporation for near-eye personal viewer applications. Asia Pacific is expected to continue witnessing the highest demand for microdisplays to be deployed in NTE devices during the forecast period owing to the presence of key EVF vendors in Japan.

Automotive segment is likely to grow at a higher CAGR

The automotive segment is likely to experience the highest CAGR during the forecast period. The rising adoption of AR technology has made it possible for automakers to provide consumers an extensive lineup of AR HUD models with their specifications. HUDs directly project important information into drivers' lines of sight. They are popular vehicle gadgets because they enable drivers to access directions, answer calls and texts, and manage music without taking their eyes off the road. HOLOEYE Photonics AG, WiseChip Semiconductor, and Himax Technologies, Inc are a few players who offer microdisplays for automotive applications.

North America to register growth at highest CAGR

North America is expected to witness the second highest CAGR during the forecast period. The growth of the microdisplay market in North America can be attributed to the increasing availability of advanced devices, such as head-mounted displays (HMD). This has led to their use in several AR and VR applications in consumer-centric, healthcare, aerospace & defense, and industrial sectors for simulation, training, and maintenance purposes. The projectors in the North American region have witnessed high penetration in the education sector for teaching purposes and the consumer sector for entertainment. In addition, these microdisplay-based projectors are witnessing increasing adoption in the commercial and business sectors for promotions and presentation purposes, respectively. Some of the manufacturers of microdisplays in North America include Kopin Corporation (US), eMagin Corporation (US), Liteye (US), OMNIVISION (US), and MicroVision (US).

Key Attributes:

Report AttributeDetails
No. of Pages201
Forecast Period2023 - 2028
Estimated Market Value (USD) in 2023$1.1 Billion
Forecasted Market Value (USD) by 2028$3.2 Billion
Compound Annual Growth Rate23.7%
Regions CoveredGlobal

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

5 Market Overview

6 Microdisplay Market, By Type
6.1. Introduction
6.2. Reflective
6.3. Transmissive

7 Microdisplay Market, By Technology
7.1. Introduction
7.2. LCD
7.3. OLED
7.4. LCoS
7.5. DLP

8 Microdisplay Market, By Product
8.1. Introduction
8.2. Near-to-Eye Devices
8.2.1. Electronic Viewfinder (EVF)/Camera
8.3. HUD
8.4. Projectors
8.4.1. Data Projectors
8.4.2. Pico Projectors
8.5. Others (Monocular and Binocular Systems, Rifle Scope, Thermal Imaging Glasses, Medical Equipment)

9 Microdisplay Market, By Resolution
9.1. Introduction
9.2. Lower Than HD
9.3. HD
9.4. FHD
9.5. Higher Than FHD

10 Microdisplay Market, By Brightness
10.1. Introduction
10.2. Less Than 500 Nits
10.3. 500 to 1,000 Nits
10.4. More Than 1000 Nits

11 Microdisplay Market, By Industry
11.1. Consumer
11.2. Industrial & Enterprise
11.3. Automotive
11.4. Healthcare
11.5. Military, Aerospace & Defense
11.6. Sports & Entertainment
11.7. Retail & Hospitality
11.8. Education
11.9. Others (BFSI, Telecommunication, Construction, Agriculture, and Transportation)

12 Microdisplay Market, By Region

13 Competitive Landscape

14 Company Profiles

15 Appendix

Companies Mentioned

  • CEA-Leti
  • eMagin Corporation
  • Fraunhofer FEP
  • Himax Technologies
  • HOLOEYE Photonics
  • Jasper Display
  • JBD Inc.
  • Kopin Corporation
  • Liteye
  • MICROOLED Technologies
  • MicroVision
  • Seiko Epson
  • Silicon Micro Display
  • Sony
  • Syndiant
  • Texas Instruments Incorporated
  • VueReal
  • WINSTAR Display
  • WiseChip Semiconductor
  • Yunnan OLiGHTEK Opto-Electronic Technology

For more information about this report visit https://www.researchandmarkets.com/r/t3tscl

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