The Global Micro Display Market is expected to reach approximately USD 1.8 billion by the end of 2023 with 14% CAGR during forecast period 2019-2023.The factors contributing to the growth of the micro display market are rising adoption portable devices, growing application of micro displays, increasing demand for augmented reality displays and high resolution and excellent picture quality.
Micro display Market, By Technology (LCD, OLED), By Product (Projectors, Smart bands, Binoculars), By End-users (Automotive, Healthcare, Industrial) - Global Forecast 2023
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The key players in the global micro display market include- Seiko Epson Corporation (Japan), Kopin Corporation (US), Himax Technologies, Inc. (Taiwan), Yunnan OLiGHTEK Opto-Electronic Technology Co., Ltd. (China), RAONTECH (South Korea), WiseChip Semiconductor Inc. (Taiwan), Syndiant (US), Jasper Display Corp. (Taiwan), Microtips Technology, LLC (US), Dresden Microdisplay GmbH (Germany), Japan Display Inc. (Japan), MICROOLED (France), HOLOEYE Photonics AG (Germany), and eMagin Corporation (US) among others.
The global micro display market is highly competitive. Various established international brands, domestic brands and as well as new entrants form a competitive landscape. The key players are nonstop increasingly seeking market expansion through various strategic mergers and acquisitions, innovation, increasing investments in research and development and cost-effective product portfolio. The embedded hypervisor software market is highly competitive due to the presence of several large vendors.
For instance, recently eMagin Company launched a new ultra high definition full color OLED micro display for consumer electronics. Also, in March 2017, BOE technology and OLiGHTEK Opto-Electronic Technology Co., Ltd. announced a new joint venture to produce OLED micro displays for the consumer virtual reality and augmented reality market. The company will be named as Kunming, Yunnan.
Regionally, North America accounted for the largest market share from countries such U.S. and Canada among others. The reason is attributed to increasing demand for projectors by the educational institutes and growing usage of advanced technologies. However, Asia-Pacific region is expected to grow over the forecast period, 2017-2023. The reason is attributed to growing demand for high-end technology and increasing sale of consumer electronics such as smartphones & tablets.
The market can be bifurcated on the basis of product, technology, end-users and region. On the basis of technology the market can be segmented into LCD, OLED, LCoS and DLP among others. Out of these, OLED accounted for the largest market share majorly due to enhanced features and better power efficiency.
Micro display can be explained as an electronic form of display which has few advantages such as physically small, provides high information content, better resolution and better picture quality. Micro displays are small sized display units with screen sizes and resolution in micro levels. Also, the small size enables applications in variety of sectors. Sometimes these micro displays are used in head-mounted displays to provide better viewing angle and resolution.
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For the purpose of this study, Market Research Future has segmented the market of micro display into technology, product, end-users and region.
The global micro display market is expected to grow significantly over the forecast period, 2017-2023. Consumer Electronics segment of micro display market globally drives the market majorly due to increasing demand for better solutions for high resolution and better picture quality. The market is expected to have higher growth rate as compared to the previous years. The global micro display market segmented into four main regions such as North America, Asia-Pacific, Europe and Rest of the World. Consumer Electronics segments hold a largest share in the North-American region. The reason is attributed to as increasing demand for smartphones, tablets and increasing adoption of new technologies. Also, consumers are looking for better technologically advanced product experiences in this region. Therefore, consumer electronics segment of micro display market accounted for the largest market share.
Asia-Pacific region is expected to grow at a fast pace over the forecast period, 2017-2023. Countries such as Japan, China and India contributes largely to the overall market share. The reason is attributed to the increasing number of manufacturers, stringent government regulations, growing advancement and increasing adoption of high end technology in the field of medical equipment’s are boosting the growth of micro display market in this region.
North-America accounted for the largest market share. Countries such as U.S. and Canada contributes largely to the overall market share. The reason is attributed to increasing demand for projectors by educational institutes, the growing use of technologically advanced devices such as fitness bands, standard regulation and presence of technical expertise.
LIST OF TABLES
Table 1 Microdisplay Market, By Technology
Table 2 Microdisplay Market, By Product
Table 3 Microdisplay Market, By End-Users
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LIST OF FIGURES
Figure 1 Research Methodology
Figure 2 Microdisplay Market, By Technology (%)
Figure 3 Microdisplay Market, By Product (%)
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