PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1538579
PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1538579
The global microdisplay market is projected to grow from USD 1.3 billion in 2024 to USD 3.0 billion by 2029, registering a CAGR of 18.2% during the forecast period. The microdisplay market's OLED segment is predicted to increase significantly. The increasing adoption of these advanced displays and their use in HMDs can be linked to the segment's growth. Furthermore, increasing demand for AR devices in the healthcare sector, as well as increasing demand for microdisplays in wearables, are driving market expansion.
Scope of the Report | |
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Years Considered for the Study | 2020-2029 |
Base Year | 2023 |
Forecast Period | 2024-2029 |
Units Considered | Value (USD Billion) |
Segments | By Product, Technology, Vertical, Resolution and Brightness & Region |
Regions covered | North America, Europe, APAC, RoW |
"The NTE devices is projected to grow at a significant growth rate during the forecast period"
NTE Devices is predicted to have the highest CAGR over the projection period. OLED-based microdisplays are rapidly being employed in NTE devices due to their better efficiency, fast reaction time, and enhanced color range. The SVGA+ Rev3 OLED-XL microdisplay from eMagin Corporation is a power-efficient OLED display system designed for near-eye personal viewer applications. Due to the presence of leading EVF vendors in Japan, Asia Pacific is projected to continue to have the highest demand for microdisplays to be used in NTE devices during the forecast period.
"Higher than FHD segment is likely to expand at the highest CAGR between 2024 and 2029"
The market for higher than FHD is expected to expand at a faster CAGR over the forecast period. A FHD resolution is 1,920 pixels horizontally and 1,080 pixels vertically on displays.For instance, in August 2023, Sony Semiconductor Solutions Corporation (SSS) introduced the ECX344A, high-definition 1.3-type OLED Microdisplay with 4K resolution for AR/VR applications that will help to recreate places more realistically.
"North America is likely to exhibit second-highest CAGR in the global microdisplay market during the forecast period"
Between 2024 and 2029, North America is likely to expand with the second-highest CAGR owing to the availability of advanced technologies like augmented reality (AR)/Virtual reality (VR) head-mounted displays (HMD), which has led to the increase in demand for microdisplay in region. Consequently, they are now being employed in a wide range of AR and VR applications across diverse fields including consumer, aerospace and defense, industrial as well as healthcare sector; where they primarily serve training simulation and maintenance purposes. Additionally, projectors based on microdisplays have received extensive acceptance within business and corporate levels for advertisements and presentations purposes. Some producers of microdisplays based in North America include Kopin Corporation (US), Liteye (US), OMNIVISION (US) as well as MicroVision (US).
The major companies in the microdisplay market are Seiko Epson Corporation (Japan), SeeYA Technology (China), Sony Group Corporation (Japan), Kopin Corporation (US), Himax Technologies, Inc. (Taiwan), and HOLOEYE Photonics AG (Germany) among others.
Research Coverage
The report segments the microdisplay market and forecasts its size, by value, based on product, technology, resolution, brightness, industry, and region (North America, Europe, Asia Pacific, and the Rest of the World). The report also comprehensively reviews market drivers, restraints, opportunities, and challenges in the microdisplay market. The report also covers qualitative aspects in addition to the quantitative aspects of these markets.