Microdisplays Market is estimated to grow at a CAGR of 23.48% to reach US$6.945 billion by 2027, increasing from US$1.587 billion in 2020. Microdisplays are small displays made of a CMOS chip and require magnifying optics to use them.
They are used in devices such as mobile phones, digital wristwatches, and virtual reality headsets, among others, and have applications across various industries. The increasing adoption of microdisplays by enterprises operating across consumer electronics, and military and defence industries is a key factor boosting the market’s growth. However, high manufacturing costs associated with microdisplays will hinder the market’s growth during the forecast period.
By technology, the LCD segment held a significant share in 2020 and will continue its growth till 2027. This growth is majorly attributed to various applications of LCD technology, such as computers, digital signage, and cockpit displays. OLED technology will witness the fastest market growth during the forecast period owing to its increasing demand for smaller and lighter HMDs.
Geographically, North America held a substantial microdisplay market share in 2020 owing to the presence of a large number of global key players in the region. End-use industries in developed economies such as Canada, the U.S.and key European countries are increasingly using microdisplays for a wide range of applications. The Asia Pacific region will witness the fastest regional market growth during the forecast period due to increasing demand for digital signage in the retail sector along with the expanding microdisplay applications in the healthcare sector.
Prominent key market players in the global microdisplays market include eMagin, Jasper Display Corp, Himax Display, MicroVision, and LG Display, among others. Currently, global key players are expanding their global footprint through various growth strategies such as new product launches, M&A, and partnerships.
Major players in the microdisplays market have been covered along with their relative competitive positions and strategies. The report also mentions recent deals and investments by different market players over the last year. The company profiles section provides an overview of the company's business, financial performance over the last three years, key products and services offered, and recent developments in the microdisplay market.
Recent development and expansion
The ongoing COVID-19 pandemic slowed the global progress of the microdisplay market. This is due to the global supply chain of parts and components used in microdisplay systems being severely disrupted as a result of the lockdown imposed in several countries to combat the spread of the COVID-19 virus.
|Market Size Value in 2020||US$1.587 billion|
|Market Size Value in 2027||US$6.945 billion|
|Growth Rate||CAGR of 23.48% from 2020 to 2027|
|Forecast Unit (Value)||USD Billion|
|Segments Covered||Technology, Application, Industry, And Geography|
|Regions Covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies Covered||Jasper Display Corp., Hana Electronics Group, Himax Technologies, Inc, Yunnan OLiGHTEK Opto-Electronic Technology Co., Ltd., AU Optronics Corporation, Samsung, MicroVision, Inc., eMagin Inc, Kopin Corporation, MicroOLED, Syndiant|
|Customization Scope||Free report customization with purchase|
Frequently Asked Questions (FAQs)
Q1. What is the size of the global microdisplays market?
A1. Microdisplays Market was valued at US$1.587 billion in the year 2020.
Q2. What will be the microdisplays market size by 2027?
A2. The microdisplays market is expected to reach a market size of US$6.945 billion by 2027.
Q3. What are the growth prospects for the microdisplays market?
A3. The global microdisplays market is estimated to grow at a CAGR of 23.48% over the forecast period.
Q4. What factors are anticipated to drive the microdisplays market growth?
A4. Increasing adoption of microdisplays by enterprises operating across consumer electronics, and military and defense industries is a key factor boosting the market growth.
Q5. Which region holds the largest share of the microdisplays market?
A5. North America held a substantial share of the microdisplays market owing to the presence of a large number of global key players in the region.
1.1. Market Overview
1.2. Covid-19 Scenario
1.3. Market Definition
1.4. Market Segmentation
2. RESEARCH METHODOLOGY
2.1. Research Data
3. EXECUTIVE SUMMARY
3.1. Research Highlights
4. MARKET DYNAMICS
4.1. Market Driver
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.3.1. Bargaining Power of End-Users
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
5. MICRODISPLAYS MARKET, BY TECHNOLOGY
6. MICRODISPLAYS MARKET, BY APPLICATION
6.1. Near-To-Eye (NTE)
7. MICRODISPLAYS MARKET, BY INDUSTRY
7.4. Aerospace and Defense
8. MICRODISPLAYS MARKET, BY GEOGRAPHY
8.1. North America
8.2. South America
8.3.1. United Kingdom
8.4. Middle East and Africa
8.4.1. Saudi Arabia
8.5. Asia Pacific
8.5.4. South Korea
9. COMPETITIVE ENVIRONMENT AND ANALYSIS
9.1. Major Players and Strategy Analysis
9.2. Emerging Players and Market Lucrativeness
9.3. Mergers, Acquisitions, Agreements, and Collaborations
9.4. Vendor Competitiveness Matrix
10. COMPANY PROFILES
10.1. Jasper Display Corp.
10.2. Hana Electronics Group
10.3. Himax Technologies, Inc
10.4. Yunnan OLiGHTEK Opto-Electronic Technology Co., Ltd.
10.5. AU Optronics Corporation
10.7. MicroVision, Inc.
10.8. eMagin Inc
10.9. Kopin Corporation
Jasper Display Corp.
Hana Electronics Group
Yunnan OLiGHTEK Opto-Electronic Technology Co., Ltd.
AU Optronics Corporation
All our studies come with 2 months of analyst support.
We are in compliance with the global privacy laws.