The global microdisplays market is expected to witness a CAGR of 38.2% during the forecast period 2021-2027. High resolution, user-configurability technology, high pixel density, low power consumption, and compact size have led to the increasing use of microdisplays in military & defense, consumer electronics, and medical applications, resulting in significant growth of the global microdisplay market during the forecast period.

The increasing demand for microdisplays in wearable devices, surging demand for AR devices in the medical field, rising demand for OLED microdisplays, increasing adoption of HMD in different industries, are the factors driving the growth of the global microdisplay market. However, high cost, low picture quality at high temperature, a saturation of markets for digital cameras and projectors are acting as a restraint that will hamper the growth of the microdisplays market.

Nevertheless, the surging demand for medical displays, rising demand for near-to-eye (NTE) applications in consumer electronics such as head-mounted displays and smart glasses, and adoption of microdisplays in the aerospace and defense sector are anticipated to provide lucrative opportunities for the growth of the global microdisplay market.

The COVID-19 pandemic has led to a complete lockdown along with social distancing norms resulting in a decrease in the demand for cameras/EVF, projectors, HUD, and HMD in the global microdisplay market due to some sectors such as consumer and automotive industries which are severely affected by the pandemic.

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Based on industry, consumer electronics is the largest category.
Consumer electronics is anticipated to have the highest growth during the forecast period in the microdisplay market owing to the rising demand for smart glasses, smartphones, and smartwatches. Furthermore, the rising trend of VR gaming and the miniaturization of electronic devices will have a positive impact on the growth of the microdisplays market.

APAC is anticipated to be the biggest microdisplay market due to the presence of a large number of original equipment manufacturers (OEMs), technological advancements in microdisplay technologies, and varying end-user behavior.

Some of the major players in the global microdisplays market 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.

Source: VynZ Research