The rising adoption of HUD-integrated ADAS and increasing number of near-to-eye (NTE) applications are the key factors that are positively impacting the growth of the global microdisplay market. Due to these factors, the market is expected to generate $4.0 billion revenue by 2030, advancing at a CAGR of 13.4% during the forecast period (2020–2030).
The COVID pandemic, beginning in December 2019 and going on presently, has hampered the growth of the microdisplay market across the globe. This is attributed to the disruption in the supply chain of the components, such as polarizers, prism sheets, microcontrollers, and display panels, required in a microdisplay system.
Liquid Crystal Displays (LCDs) To Hold Largest Share in Market throughout Forecast Period
The microdisplay market, based on technology, is classified into LCD, LCoS, DLP, and OLED. Of these, the LCD category holds the largest share presently and is expected to lead the market in the coming years. The growth is attributed to the huge popularity of LCDs around the globe, as a result of their advantages that include less power consumption, compact size, and low price. LCD displays are currently being used in HMDs, HUDs, EVFs, thermal-imaging glasses, and wearable products.
Further, the microdisplay market is categorized into projector, NTE device, HUD, and others, based on product type. The projector category is expected to hold the largest revenue share during the forecast period, primarily due to the rising adoption of data projectors in the education and business sectors. Moreover, the rise in the number of digital screens and use of 3D projection in emerging applications is further driving the growth of the industry.
Geographically, Asia-Pacific (APAC) is the highest-revenue-generating region in the microdisplay market, and it is expected to witness remunerative growth, due to the presence of a substantial number of microdisplay manufacturers in the region, which leads to a decline in the prices and growing penetration of such devices.
Partnerships Are Strongest Strategic Measure Taken by Players in Market
Players in the microdisplay market are building partnerships with each other, to enhance their market presence. For instance, in May 2020, Universal Display Corporation (UDC) and Wuhan China Star Optoelectronics Semiconductor Display Technology Co. Ltd. announced the signing of a new OLED technology license agreement and supplemental material purchase agreement, under which Wuhan China Star Optoelectronics will get the supply of phosphorescent OLED materials from UDC, through the latter’s wholly-owned subsidiary UDC Ireland Ltd., for use in the former’s display products.
In April 2020, BOE Technology Group Co. Ltd. and Qualcomm Incorporated announced their strategic collaboration to develop display products, featuring Qualcomm’s 3D sonic sensors that would help integrate mobile and associated 5G technologies to extended reality (XR) and internet of things (IoT) applications.
Browse report overview with detailed TOC on "Microdisplay Market Research Report: By Technology (LCD, LCOS, OLED, DLP), Product Type (Near-To-Eye Device, Heads-Up Display, Projector), Brightness (<500 Nits, 500–1,000 Nits, >1,000 Nits), End User (Consumer Electronics, Industrial, Automotive, Military & Defense, Sports & Entertainment, Retail & Hospitality, Medical) - Global Industry Analysis and Growth Forecast to 2030" at:https://www.psmarketresearch.com/market-analysis/microdisplay-market-outlook
Similarly, in January 2020, RAONTECH Co. Ltd. and Xvisio Technology Co. Ltd. announced their collaboration to solve user dizziness problems associated with consumer AR glasses, by introducing the near-zero motion to photon latency (MTPL) technology in their AR platforms. It will be done by combining the low-latency 6DOF visual simultaneous localization and mapping (VSLAM) solutions offered by Xvisio with the microdisplay panels/controllers developed by RAONTECH.
Some of the major players operating in the global microdisplay market are eMagin Corporation, Himax Technologies Inc., Jasper Display Corp., Yunnan OLiGHTEK Opto-Electronic Technology Co. Ltd., WiseChip Semiconductor Inc., Micron Technology Inc., Seiko Epson Corporation, Kopin Corporation, Microtips Technology Inc., LG Display Co. Ltd., Universal Display Corporation, and Sony Corporation.