- Augmented reality has witnessed an increasing implementation into existing applications and platforms, including gamification for customer engagement, AR applications, social media-based marketing, and enterprise collaboration for unified workplace communications. Virtual reality technology has also gained widespread recognition and adoption over the past few years. AR and VR trends are expected to support the market growth, during the forecast period.

- LCoS-based products, which offer higher quality and more precise results than competing microdisplay technologies, such as liquid crystal display (LCD) and digital light processing (DLP), are being preferred by component manufacturers. Therefore, increasing demand for high-resolution display is supporting the growth of the liquid crystal on silicon (LCoS) display market.

- However, the cost of technology, when compared to competitive technologies, like LCD and LED, are hindering the market. In addition, LCoS microdevices are difficult to manufacture, because of which several companies, including Intel, have abandoned their efforts after consistently low yields in manufacturing.

Key Market Trends

Head-mounted Displays to Witness Huge Demand for LCoS Systems

- Head-mounted displays used for augmented and virtual reality have unique characteristics that handheld displays and spatial displays do not offer.

- Training of all types is the most important potential use of AR/VR. Navy researchers are integrating AR technology into head mounted displays (HMD) to effectively provide ground deployed troops with the technology utilized by pilots.

- In June 2018, Spex, a division of Toronto-based wearable medical device developer eSight, released a new hardware and software platform intended to combine the best current augmented reality (AR) and virtual reality (VR) features in a head-mounted device that can be worn all day.

- HMDs are not only used in virtual reality gaming, but also been used in military, medical and engineering contexts. In March 2019, Valve launched a teaser site featuring a brand-new virtual reality headset, called the Valve Index. It has inside-out tracking to allow players to move around a room without worrying about placing base stations or external tracking cameras.

Asia-Pacific to Emerge as the Fastest Growing Market

- According to asiapacificelectronics.com, the Asia-Pacific region is expected to deliver USD 212 billion in GDP, as a result of mmWave 5G by 2034.

- The majority of countries in Asia-Pacific have experienced a prolonged period of dynamic economic growth, which was reflected in rising disposable incomes.

- A significant milestone on the path toward becoming a manufacturing hub was achieved in 2017, when India’s domestic electronics production exceeded imports of electronic goods into the country.

- Consumer's lifestyle is changing, as they are adopting new technology and embracing the new trends in technology.

- A growing customer base of middle class and increased penetration of consumer durables have provided enough scope for the growth of the Indian electronics sector.

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Competitive Landscape

The market is concentrated with few major players dominating the majority of the market. In this market, there are few LCoS technology providers, like OmniVision Technologies Inc., Hamamatsu Photonics KK and HOLOEYE Photonics AG, and few LCoS display device manufactures, like JVC Kenwood USA Corporation, Sony Corporation, and Microsoft Corporation, who are the market leaders.

- February 2019 - Fourth Dimension Display, a subsidiary of Kopin Corporation, launched a 2K x 2K high-performance reflective LCOS device at Photonics West 2019.

- January 2019 - Syndiant Inc. introduced a portfolio of 1080p and 4K UHD LCOS microdisplays and optical engine platforms at the 2019 Consumer Electronics Show in Las Vegas, Nevada.

- October 2018 - OmniVision Technologies Inc. announced the OP02220, the industry’s first 1080p liquid crystal on silicon (LCOS) microdisplay, with integrated driver functions and memory. This compact, low-power, and cost-effective microdisplay is especially valuable for augmented reality (AR) applications, such as glasses and head-mounted displays.

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