Global Microdisplay Market Report and Forecast 2024-2032

Global Microdisplay Market Outlook 

The global microdisplay market reached a value of about USD 1.93 billion in 2023. The market is further anticipated to grow at a CAGR of nearly 19.7% in the forecast period of 2024-2032 to attain a value of USD 9.75 billion by 2032.

North America is the leading region in the global microdisplay market. The growing use of ICT technology in the education industry is changing conventional classroom teaching, which, in effect, is boosting the regional market growth. High spending on the military by the United States government is contributing to increased spending on microdisplay technologies, like night vision HUDs and thermal imaging. 

The Asia Pacific is projected to see the highest growth rate in the forecast period. The involvement of leading market players including Sony Corporation, LG Electronics Inc., and Toshiba Corporation is expected to fuel the market development in the Asia Pacific in the coming years.

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Market Segmentation

Microdisplays are small screen having micro-level resolution as well as a horizontal panel size of less than two inches. These displays achieve lower production costs and power dissipation, produce large images from a compact and lightweight device and can also incorporate display chip drivers. OLED-on-silicon technology has been introduced by manufacturers in recent years, offering enhanced image quality through high-resolution, bi-directional, and ultra-low-power microdisplays. OLED microdisplays have also attracted enormous popularity with the growing use of technology in augmented reality (AR) and virtual reality (VR) applications.

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Based on product, the market can be divided into following:

• Near-to-Eye (NTE) Devices
• Head-Up Display (HUD)
• Projector
• Others

The market breakup on the basis of technology can be as follows:

• Liquid Crystal Display (LCD)
• Liquid Crystal on Silicon (LCOS)
• Organic Light Emitting Diode (OLED)
• Digital Light Processing (DLP)

The resolution of the microdisplay can be categorised as follows:

• Lower Than HD
• HD
• FHD
• Higher Than FHD

On the basis of brightness, the industry can be segmented into:

• Less Than 500 Nits
• 500–1,000 Nits
• More Than 1,000 Nits

Based on end-uses, the market is divided into the following:

• Consumer 
• Industrial and Enterprise 
• Automotive 
• Military, Defence, and Aerospace 
• Sports and Entertainment 
• Retail and Hospitality 
• Medical 
• Education 
• Others

The regional markets for microdisplay include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

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Market Analysis

Microdisplay provides various features over direct-view screens, like CRTs and flat-panel LCDs. As a result, they are integrated into a wide variety of consumer products, including modern 3G wireless networking devices, digital camera systems, wireless DVD players, and wearable PCs. In addition, microdisplay is used in a variety of industries, ranging from military and defence to industrial to medical and educational. In military applications, for example, aircraft OEMs and military aviation regulators are proposing the implementation of head-up displays (HUDs) in military aircraft to avoid crash accidents. In addition, major companies are investing in research and development (R&D) in the production of next generation microdisplays with advanced technologies including optical waveguides as well as micro-electromechanical laser scanning (MEMS) systems.

Competitive Landscape 

The report gives a detailed analysis of the following key players in the microdisplay market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

• Kopin Corporation
• Himax Technologies, Inc.
• eMagin, Inc.    
• Sony Semiconductor Solutions Corporation
• Jasper Display Corp.
• Seiko Epson Corporation
• Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

Key Highlights of the Report