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Microdisplay Market Share & Growth 2025 | Industry Analysis Report

Microdisplays Market Analysis Report, By Projection, By Application, By Technology And Segment Forecasts From 2018 To 2025

Report ID: MN17615596  |  Published: September 2020  |  No of Pages: 90
Format: Electronic (PDF)  |  Industry: Technology  |  Publisher: Grand View Research

Industry Insights

The global microdisplay market size was accounted for USD 888.3 million in 2017. It is anticipated to grow at a significant CAGR of 19.1% over the forecast period, 2018 to 2025. A microdisplay is a screen having a size of lesser than two inches. Microdisplays are widely used in smartwatches, smartphones, head-mounted display, viewfinders, smart glasses and digital cameras. 

In addition, microdisplays offer a super-extended graphics array that provides an enhanced viewing angle. These displays are used in various industries such as manufacturing, consumer electronics and military & defense. Moreover, the growing trends of nanotechnology devices is projected to boost the market growth.

U.S. microdisplays market

Increasing usage of microdisplays in head-mounted display and head-up displays devices in Near-to-Eye application is supporting market growth. These devices are used across medical, automotive and military applications. 

In the medical sector, microdisplays are used in diagnostic tools like ECG machines, imaging machines, CT scanners and others. Organic LEDs are utilized in monochromic night-vision systems for military applications. 

Furthermore, the rising demand for smartwatches in entertainment, fitness monitoring, and health monitoring solutions is also contributing to market growth. Additionally, microdisplays are used in holographic displays which in turn, are boosting the market growth. Smartphones compatible with Virtual Reality headsets is gaining traction, especially among young adults. Companies like HTC and Samsung provide VR headsets.

However, increasing R&D and manufacturing costs of display equipment may hamper the market growth. Nevertheless, companies focus on low-cost technology solutions.

Technology Insights

Based on technology, the microdisplays market is segmented into LCD, OLED, DLP and LCoS. The LCD type segment accounted for a market share of more than 55.0% in the overall market in 2017. Rising demand for displays in HMDs, electronic viewfinders, HUDs are boosting segment growth. In addition, Liquid Crystal on Silicon (LCoS) is projected to expand at a substantial rate from 2018 to 2025. 

Key players in the market engage in adopting OLED technologies to offer enhanced visual performance. In addition, OLED displays are highly used in VR displays. These displays provide high power efficiency, improved resolution, and low costs. These key factors are estimated to proliferate market growth. 

Projection Insights

In 2017, the Near-to-Eye (NTE) type segment led the market with a share of nearly 48.0%. Moreover, increasing demand for AR glass across the industrial application to support inspection, maintenance, warehouse management activities are contributing to market growth. 

Growing usage of VR headsets in entertainment & gaming application is expected to bolster market growth. DLP projectors are widely used in the education sector, corporate training which in turn, is expected to boost the market growth.   

Application Insights

Applications segment is comprised of consumer electronics, medical, industrial, military & defense, automotive, and others. In 2017, military & defense segment led the microdisplay market with a share of more than 39.0% in terms of global revenue. The growing demand for OLED in applications like simulation, training, and thermal imaging is supporting segment growth. Key players like eMagin, Kopin Corporation offer thermal weapon sight through night-vision Goggle products.

Global microdisplays market

Consumer electronics application segment is anticipated to foresee the highest growth from 2018 to 2025. Growing demand for smart glasses, smartphones and smartwatches is surging the utility of microdisplays. Additionally, increasing trend of VR gaming and miniaturization of the electronic device are expected to positively impact market growth. 

Regional Insights

In 2017, North America accounted for a market share of over 35.0%. Rising usage of ICT technology in the education sector is boosting the trend of classroom teaching. The high spending by the United States government on military and defense is boosting the demand for microdisplays.

APAC is projected to grow at the fastest CAGR during the forecasted period. Key players in the regional market include Sony Corporation, Toshiba Corporation, Samsung Electronics, and LG Electronics.

Impact of COVID-19

COVID-19 pandemic has disrupted the production and sales of consumer electronics, which in turn, has negatively impacted the market. Supply chain disruption and lower demand for smartphones and smartwatches are also hampering the market growth. 

However, the market is expected to witness significant growth over the forecast period. The rising adoption OLED displays in new product release are projected to contribute to market growth. For example, Samsung has recently launched foldable displays that are expected to foster the demand for microdisplays. 

Microdisplays Market Share Insights

Leading companies include Microtips Technology, Kopin Corporation; eMagin Corporation; Himax Technologies; Universal Display Corporation; LLC; Sony Corporation; Micron Technology; Seiko Epson Corporation; LG Display Co. Ltd.; Jasper Display Corp; and Yunnan Olightek Opto-Electronic Technology Co., Ltd.

The key participants in the market engage in developing new projections lights, displays to remain competitive in the market. For example, Kopin Corporation has launched OLED microdisplay suited for VR headsets in 2018. 

Report Scope

Attribute

Details

Base year for estimation

2017

Actual estimates/Historical data

2015 - 2016

Forecast period

2018 - 2025

Market representation

Revenue in USD Million & CAGR from 2018 to 2025

Regional scope

North America, Europe, Asia Pacific, Rest of the World.

Country scope

U.S., Canada, Mexico, Germany, U.K., France, Spain, Italy, China, India, Japan, South Korea, and Brazil.

Report coverage             

Revenue forecast, company ranking, competitive landscape, growth factors and trends

15% free customization scope (equivalent to 5 analyst working days)

If you need specific information, which is not currently within the scope of the report, we will provide it to you as a part of customization


Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis on the latest industry trends and opportunities in each of the sub-segments from 2015 to 2025. For the purpose of this study, Million Insights has segmented the global microdisplay market report on the basis of technology, projection, application and region:

• Technology Outlook (Revenue, USD Million, 2015 - 2025)
    • OLED
    • LCD
    • DLP
    • LCoS

• Projection Outlook (Revenue, USD Million, 2015 - 2025)
    • Near-to-Eye
    • Projection
    • Others

• Application Outlook (Revenue, USD Million, 2015 - 2025)
    • Consumer Electronics
    • Military & Defense
    • Medical
    • Industrial
    • Automotive
    • Others

• Regional Outlook (Revenue, USD Million, 2015 - 2025)
    • North America
        • U.S.
        • Canada
        • Mexico
    • Europe
        • U.K.
        • Germany
        • France
        • Spain
        • Italy
    • Asia Pacific
        • India
        • China
        • Japan
        • South Korea
    • Rest of the World
        • Brazil
        • MEA

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