NEW YORK, June 17, 2020 (GLOBE NEWSWIRE) -- The rising concerns regarding the safety of vehicles and passengers have led to the implementation of stringent laws that mandate the installation of advanced driver-assistance systems (ADAS) in automobiles. With time, ADAS are being integrated with heads-up displays (HUD), which help in the reduction of driver distractions, by displaying vital information, such as warning signals, vehicle speed, and navigational directions, without the driver having to take off their gaze from the road.
This is one of the major reasons due to which the global microdisplay market, which generated more than $1.0 billion in 2019, is predicted to witness a 13.4% CAGR between 2020 and 2030. HUDs are transparent displays integrated into the dashboard itself, so the driver does not have to look anywhere else to check vital driving information. Considering that most of the road crashes are a result of drivers not paying attention to the road, HUD-integrated ADAS are becoming rapidly popular in the automotive industry.
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Microdisplay Market Segmentation Analysis
The liquid crystal display (LCD) category, on the basis of technology, dominated the industry in 2019, because LCD microdisplays are cost-effective, energy-efficient, and small, which is why they are immensely popular among end users. Moreover, LCD microdisplays are widely integrated in HUDs, head-mounted displays (HMDs), thermal-imaging glasses, electronic viewfinders (EVFs),and wearable products.
Till 2030, the projector category would generate the highest revenue in the industry, based on product type. This is attributed to the rapid uptake of data projectors for business and education purposes, which is leading to a robust rise in the installation of microdisplays.
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Presently, Asia-Pacific (APAC) is the largest microdisplay market, and the situation won’t change till 2030. This is because the local production of such products in the region has reduced their price and raised their penetration level among end users. Countries such as India, China, and Japan are among the largest automotive and electronics producers in the world, which leads to a high demand for microdisplays. Moreover, due to the rising uptake of consumer electronics, the usage of HMDs is also increasing, which is further benefiting the market in the region.
Market Players Strongly Pursuing Client Contracts to Augment their Revenue
For instance, in January 2020, a $1.4 million order for helmet displays, from Raytheon Technologies Corp.’s subsidiary Collins Aerospace, was received by eMagin Corporation. Under the contract, eMagin will supply OLED microdisplays for the HMDs manufactured by Collins Elbit Vision Systems (CEVS) for the F-35 fighter aircraft.
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The major players in the global microdisplay market are Himax Technologies Inc., eMagin Corporation, Yunnan OLiGHTEK Opto-Electronic Technology Co. Ltd., Jasper Display Corp., Micron Technology Inc., WiseChip Semiconductor Inc., Kopin Corporation, Seiko Epson Corporation, LG Display Co. Ltd., Microtips Technology Inc., Sony Corporation, and Universal Display Corporation.
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Transparent Display Market
North America and APAC are expected to account for over 79.0% share, collectively, in the global transparent display market by 2024, owing to the high research and development (R&D) spending on technology development and innovation.
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Interactive Display Market
The market for interactive displays is booming at an exorbitant rate, as they are increasingly being adopted in retail environments, schools, hotels, museums, sports events, and conference centers, globally.
https://www.psmarketresearch.com/market-analysis/interactive-display-market
Photonics Market
APAC held the largest share in the photonics market in 2019. Within APAC, China accounted for the largest share in the market in 2019. This is attributed to a large number of manufacturing industries in the country. For instance, the Eastern provinces of Fujian, Jiangsu, Zhejiang, and Shandong have a diverse manufacturing industry in the country. The auto parts manufacturing zones in the country are located in the Eastern region, mainly in Jiangsu, Hebei, Zhejiang, and Fujian provinces. With the presence of a large number of automotive production centers, demand for products like a laser for automotive manufacturing applications like brazing, cutting, marking, and coating removal is rising across the region.
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