6-August-2019: The global microdisplays market
size is poised to reach USD 3.42 billion by 2025, according to a new study by
Grand View Research, Inc., progressing at a CAGR of 19.1% during the forecast
period. A microdisplay is a microminiaturized display with a diagonal screen
size of less than two inches. Microdisplays are compact small-sized displays
with a large number of pixels and high resolution. These are commonly used in
head-mounted displays (HMDs), head-up displays (HUDs), rear-projection TVs, and
digital cameras. Increasing adoption of consumer electronics, rising consumer
preferences for miniature displays, and widening application scope of the
product are among the primary growth stimulants for the market.
Microdisplays
utilize CMOS (complementary metal - oxide - semiconductor) chips that include a
two-dimensional array of transistors. Microdisplays are being increasingly used
in rear-projection TVs to increase voice and image clarity, besides reducing
the overall cost. Excellent picture quality, high resolution, compact size, and
low power consumption have led to increased adoption of microdisplays in
consumer electronics, military & defense, and medical applications. In
2017, LCD-based displays dominated the market owing to their low cost,
relatively high brightness, and a rather simple manufacturing process.
Moreover, high
consumer demand for small form factor (SFF) microdisplay devices with improved
features, such as faster response, more colorfulness, higher power efficiency,
and better contrast is projected to create significant opportunities for
vendors in the market. Furthermore, OLED is a next-generation technology
replacing LCD in several applications, such as digital cameras, fitness
watches, and smartphones.
Key manufacturers
are also highly focused on R&D initiatives to innovate new display
technologies based on OLED, LCoS (Liquid Crystal on Silicon), and holographic
displays. For instance, in May 2018, Sony Semiconductor Solutions Corporation
introduced a high-class UXGA resolution OLED microdisplay with the smallest
pixel size of 6.3 micrometers.
These displays are
being increasingly used for military and medical applications, such as
monochrome night-vision systems to provide an improved visual experience to
soldiers, real-time augmented displays, and monitoring patient vitals. This, in
turn, is anticipated to drive the microdisplays market over the forecast
period.
Prominent market
players are strategically focusing on partnership agreements that would help
them to introduce new products and enhance their geographical presence. High
manufacturing costs associated with these displays are estimated to hamper the
growth of the global microdisplays market.
In
depth research report on Microdisplays Market
Further key findings from the study suggest that:
·
North America held the highest share in the market in 2017
owing to rising demand for digital cameras viewfinders in military and defense
applications. High military spending to provide their soldiers OLED
microdisplay-based night vision systems is poised to stimulate the growth of
the regional market
·
Asia Pacific is likely to witness the highest growth during
the forecast period owing to spiraling adoption of smart devices by a large
number of consumers and increasing demand across various industries
·
Burgeoning popularity of VR gaming headsets and smart glasses
among consumers is expected to contribute to the growth of the near-to-eye
segment
·
Prominent market players such as Sony Semiconductor Solutions
Corporation, Kopin Corporation, and eMagin Corporation are focused on
developing technologically advanced display solutions to enhance resolution and
reduce associated manufacturing costs of finished products.
Grand View Research
has segmented the global microdisplays market on the basis of technology, projection,
application, and region:
Microdisplays Technology Outlook (Revenue, USD Million, 2015
- 2025)
·
OLED
·
LCD
·
DLP
·
LCoS
Microdisplays Projection Outlook (Revenue, USD Million, 2015
- 2025)
·
Near-to-Eye
·
Projection
·
Others
Microdisplays Application Outlook (Revenue, USD Million, 2015
- 2025)
·
Consumer Electronics
·
Military & Defense
·
Medical
·
Industrial
·
Automotive
·
Others
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About
Grand View Research
Grand View Research, Inc. is a U.S.
based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, the company offers market
intelligence studies ensuring relevant and fact-based research across a range
of industries including technology, chemicals, materials, healthcare and
energy.
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