NEW YORK, Nov. 11, 2021 /PRNewswire/ — The global microdisplay market size is expected to reach $5,535.6 million by 2030, increasing from $1,145.6 million in 2020 at a 17.1% CAGR between 2020 and 2030. This will primarily be a result of the growing usage of near-to-eye (NTE) devices, such as head-mounted displays (HMD) and electronic viewfinders (EVF), and rising demand for advanced driver-assistance systems (ADAS) with heads-up displays (HUD).
Due to the burgeoning number of road accidents, which already kill more than 1.3 million people every year, as per the World Health Organization (WHO), ADAS has been made mandatory by several countries. For instance, under the Tech-Celerate Now program, the Federal Motor Carrier Safety Administration (FMCSA) of the U.S. is integrating ADAS in class 7 and 8 commercial vehicles, which has been driving the demand for HUDs and, in turn, for microdisplays.
Get the sample pages of this report at: https://www.psmarketresearch.com/market-analysis/microdisplay-market-outlook/report-sample
Key Findings of Global Microdisplay Market Report
- Liquid crystal display (LCD) microdisplays witness the highest sales as they are small and cost-effective and consume less electricity. LCD microdisplays are prominently featured in HMDs, HUDs, thermal imaging glasses, EVFs, and wearables.
- Microdisplay market players have made the most sales to projector manufacturers because of the rising demand for data projectors in the corporate (business) and education sectors.
- Microdisplay integration will likely rise the most rapidly in the automotive sector in the years to come with the mandatory installation of ADAS, in an effort to aid drivers and make roads safer.
- The COVID-19 pandemic negatively affected the sale of such components by putting a temporary stop to their production and trade and reducing the demand for the end products, such as projectors, HMDs, EVFs, and HUDs.
- Microdisplays with the organic light-emitting diode (OLED) technology are trending now due to their high resolution and pixel density, which result in a higher picture quality.
- The U.S. is the highest-revenue-generating country in the market on account of its vast aerospace & defense sector, which generates a high demand for thermal imagers and night-vision HUDs.
On the regional level, Asia-Pacific (APAC) is predicted to witness the quickest advance in the microdisplay market in the near future, thereby continuing its historical dominance. The region is home to the largest automotive and consumer electronics industries in the world, which leads to a high sale of HUDs and HMDs. Thus, with the sale of automobiles with HUD-integrated ADAS, video game consoles that come with HMDs, and wearable medical devices rising, the market is booming here.
Browse detailed report on Microdisplay Market Growth Drivers and Future Estimations By 2030
Due to the presence of large companies, such as eMagin Corporation, Jasper Display Corp., Himax Technologies Inc., Yunnan OLiGHTEK Opto-Electronic Technology Co. Ltd., Micron Technology Inc., WiseChip Semiconductor Inc., Seiko Epson Corporation, Microtips Technology Inc., Kopin Corporation, LG Display Co. Ltd., Sony Corporation, and Universal Display Corporation, the microdisplay market is highly competitive. To stay on top, these firms are launching new variants of these components.
Microdisplay Market Segmentation Analysis
Microdisplay Based on Technology
- Liquid Crystal Display (LCD)
- Liquid Crystal on Silicon (LCOS)
- Organic Light-Emitting Diode (OLED)
- Digital Light Processing (DLP)
Microdisplay Based on Product Type
- Near-To-Eye (NTE) Device
- Electronic viewfinder (EVF)
- Head-mounted display (HMD)
- Augmented reality (AR)
- Virtual reality (VR)
- Heads-Up Display (HUD)
- Pico projector
- Data projector
Microdisplay Market Based on Brightness
- <500 Nits
- 500–1,000 Nits
- >1,000 Nits
Microdisplay Market Based on End-User
- Consumer Electronics
- Military & Defense
- Sports & Entertainment
- Retail & Hospitality
- Medical Devices
- North America
- South Korea
- Latin America
- Middle East and Africa
- Saudi Arabia
- South Africa
Browse More Reports
Transparent Display Market – The transparent display market revenue will increase from $524.7 million in 2018 to $4,933.6 million by 2024, while the market will progress at a CAGR of 46.2% from 2019 to 2024.
Interactive Display Market – Geographically, Asia-Pacific (APAC) dominated the interactive display market in the preceding years, and it is also expected to adopt these displays at the highest rate in the foreseeable future. This can be primarily attributed to the surging emphasis of the retail sector on improving the in-store environment.
About P&S Intelligence
P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.