Microdisplay Market expected to be worth $4,085 million by 2025

(IT-NEWSWIRE.COM, June 02, 2020 ) The report "Microdisplay Market by Product (HMD, HUD, EVF, Projector), Technology (OLED, LCoS, LCD, DLP), Industry (Consumer, Industrial/Enterprise, Aerospace, Automotive, Retail, Entertainment, Medical), Resolution, Brightness, and Region - Global Forecast to 2025", is estimated to grow from USD 972 million in 2018 to USD 4,085 million by 2025, at a CAGR of 22.8% from 2018 to 2025. Factors such as the compact size and technological advancements of microdisplays; increased adoption of HMDs in several industries; escalated demand for OLED microdisplays; and adoption of ADAS and surge in demand for head-up displays are driving the market toward high growth.

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“HMDs expected to grow at highest CAGR during forecast period “

HMDs are devices that are worn on the head as a helmet or headset by the user to create an image, data, and other information in the user’s field of view. Microdisplay can be used in AR smart glasses and VR headsets. Microdisplays help reduce the size of HMDs owing to their small size and low power consumption, which enable not only smaller and lighter designs but also devices with longer battery life. The increasing adoption of HMDs for medical, automotive, consumer and entertainment, and education applications, among many others, is expected to help the microdisplay market to grow significantly in the coming years. Projectors and cameras/EVFs have been dominating the microdisplay market in terms of demand, with major players such as Epson and Sony active in the projector and camera market. However, the saturation in projector and camera shipments would lead to slower growth of the microdisplay market than that for other emerging products.

“OLED technology expected to grow at highest CAGR during the forecast period”

OLED is a type of LED in which the emissive electroluminescent layer is a film of organic compound that emits light in response to an electric current. OLED displays are made up of organic light-emitting materials and do not require any backlight and filtering systems. OLED displays are lightweight, have better picture quality, consume less power, and have a faster response time. OLED is a relatively new technology and is slowly replacing the LCD technology and gaining momentum in several markets, including the microdisplay market. eMagin and Sony are leading players in the OLED microdisplay market. Kopin, Seiko Epson, OLiGHTEK, MICROOLED, SPI Corp., ENMESI, Winstar Display, and Liteye Systems are the other major players offering OLED microdisplays, while Raystar Optronics and WiseChip Semiconductors offer PMOLED-based microdisplays.

“Japan to lead the microdisplay market in terms of market size during forecast period”

The high share or demand for microdisplays in Japan is majorly due to the prominent presence of key vendors of cameras/EVFs and projectors in the country. Majority of the current demand for microdisplays is for products—cameras/EVFs and projectors. Japanese vendors hold a share of more than 95% of the global camera market, while they hold a share of more than 50% of the global projector market. The increasing demand for HMDs and HUDs is expected to propel the market in Japan as Japan also comprises major suppliers of HMDs and HUDs. Automotive; consumer; and industrial and enterprise are key industries in Japan in which microdisplay-based devices are used. Major microdisplay providers in Japan include Seiko Epson, Sony, and Citizen Finedevice.

Sony (Japan); Seiko Epson (Japan); eMagin Corporation (US); Kopin Corporation (US); OLiGHTEK (China); Himax Technologies (Taiwan); HOLOEYE Photonics (Germany); WiseChip Semiconductor (Taiwan); Raystar Optronics (Taiwan); and WINSTAR Display (Taiwan) are a few key players in the microdisplay market.

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Microdisplay Market expected to be worth $4,085 million by 2025