The global microdisplays market is estimated to generate revenue of USD 3756 million by 2027, witnessing a 38.2% CAGR during the forecast period. The increasing demand for compact size and technological development, rising usage of HMD across industry verticals, mounting demand for OLED microdisplays, growing adoption of ADAS & HUD will drive the growth of the microdisplays market. Microdisplays provide exceptional quality, high resolution, less power consumption, and are compact than other displays.

Nevertheless, the increasing adoption of mobile and handheld devices along with innovation in AR technology will create opportunities for growth in the global microdisplays market.

The COVID-19 pandemic has had an adverse effect on the global microdisplays market owing to the reduced demand for cameras/EVF, projectors, HUD, and HMD in microdisplays market

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Based on technology, the market is categorized into OLED, LCD, LCoS, and DLP. OLED microdisplays are gaining importance owing to their features such as high contrast, fast response time, wide operating temperature range, OLED microdisplays are extensively used in EVFs and HMDs

Asia-Pacific is anticipated to dominate in the micrdisplays market during the forecast period 2021-2027 owing to the rising demand for OLED microdisplays, presence of prominent players, rapid industrialization, and adoption in wearable devices in the region. Moreover, the region is witnessing huge demand and consumption of electronic devices with display screens resulting in the growth of the microdisplays market in the region.

Key players operating in the microdisplays industry include Sony Corporation, Seiko Epson Corporation, eMagin, Kopin Corporation, Yunnan OLiGHTEK Opto-Electronic Technology Ltd, Himax Technologies, Inc, Syndiant, UNIVERSAL DISPLAY, AU Optronics Corp., and Micron Technology, Inc.