Global Microdisplay Market Report, published by Variant Market Research, forecast that the global market was valued at $821 million in 2016 and is expected to reach $4,528 million by 2024, growing at a CAGR of 23.8% from 2016 to 2024. In geographical segments, Asia-Pacific and Europe are expected to grow at a CAGR of 25.9% and 24.3%, respectively, during the forecast period 2016-2024.
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Higher implementation of microdisplay in military & defence, medical applications, and consumer electronics due to features such as low-power consumption, high resolution, outstanding picture quality, and compact size are the major factors driving the global microdisplay market. However, issues such as low-picture quality at higher temperature and higher initial cost may limit the market growth. Moreover, growing demand for VR HMD’s for gaming & entertainment and increase in use of HUD’s in premium car will likely gain several opportunities in the forthcoming years.
Type, technology, application, and geography are the primary classification of global microdisplay market. Where, type segment is further divided neat-to-eye (NTE) and projection. Technology segment is further segmented into liquid organic light-emitting diode (OLED), crystal display (LCD), liquid crystal on silicon (LCoS), and digital light processing (DLP). Application segment comprises of military & defense, industrial systems, consumer electronics, automotive, medical appliances and others. In 2016, consumer electronics segment dominated the market with largest share, driven by the increase in demand for electronic equipment’s such as smart glasses, smart watch, and smart bands. Additionally, application segment is anticipated to grow at the fastest CAGR through the forecast period.
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By geography, the global microdisplay market is majorly sorted into North America, Europe, Asia-Pacific, and Rest of the World (RoW). In 2016, North America held for first position with respect to the market share and is predicted to persist the foremost region during forecast period, driven by increasing adoption of microdisplay in consumer electronics and speedy technological advancement. Asia-Pacific is anticipated to grow at the fastest CAGR throughout the forecast period i.e. 2016-2024.
Prominent players in the Microdisplay market includes, Sony Corporation, LG Display Co. Ltd, Syndiant Inc., Universal Display Corporation, Micron Technology Inc., AU Optronics Corp, eMagin Corporation, Microvision Inc., Himax Technology Inc., and KopIn Corporation Inc., among others
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About Variant Market Research
Variant Market Research offers syndicated and customized reports to fulfill clients' objectives. We also provide customized data pack proposing market sizing in an Excel/PDF/PowerPoint or Word format as per the requirement of clients. We cover several industry domains, namely Semiconductor & Electronics, Consumer Electronics, Information and Communication Technology, Automotive, Consumer Goods, Food & Beverages, Pharmaceuticals, Medical Devices, Chemicals, Industrial, Mining Equipment, Automation, Manufacturing, Construction, Energy & Power, Defense & Aerospace and Banking, Financial services and Insurance (BFSI). Our expertise are data triangulation, competitor benchmarking, parent market benchmarking, estimating market size and forecast of the market from 2016 to 2024.
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