The Global Microdisplays Market size is expected to reach $4.4 billion by 2027, rising at a market growth of 27.4% CAGR during the forecast period.
Microdisplays find potential application in military and defense, consumer electronics, and medical applications due to their high resolution and outstanding picture quality, low power consumption, and small size. In addition, the growing number of Near-To-Eye (NTE) applications in various consumer electronics, such as head-mounted displays and smart glasses, is expected to act as a growth factor for the microdisplay industry.
A screen with a diagonal size of less than two inches is known as a microdisplay. Consumer electronic products such as smartwatches, head-mounted displays (HMDs), smartphones, smart glasses, and digital camera viewfinders are rapidly incorporating microdisplays. They have a super extended graphics array (SEGA) resolution, which provides a better viewing angle and brightness for an enhanced user experience. Moreover, the rising demand for nanotechnology devices to detect micro-sized elements is expected to drive market growth over the forecast period.
A crucial element driving the microdisplay market is the increased deployment of advanced ADAS, which is being accompanied by a surge in demand for HUDs. The need for ADAS is rapidly expanding, particularly in the United States, Japan, and China. According to the Federal Motor Carrier Safety Administration (FMCSA), the United States began a project in 2019 to promote the use of ADAS in the trucking industry due to ADAS' proven ability to reduce fatalities, injuries, and crashes.
COVID-19, a deadly respiratory virus that began in China, has been affecting a large number of people across the globe. For the current scenario, the impact of COVID-19 on the microdisplay market and consumer demand is unknown. On the other hand, as a majority of the microdisplay manufacturers are situated in China, it is expected that device manufacturing is expected to be reduced in the short future.
As a result, gadget manufacturers must be prepared for disruptions in China's supply chain. The impact of supply chain disruption was experienced during the first quarter of 2020, as COVID-19 has a substantial impact on other countries such as the United States, India, Germany, and the United Kingdom. In 2020, this is likely to have a detrimental impact on the microdisplay.
Based on the Product Type, the Microdisplay market is divided into Near-to-Eye, Projection, and Others. The Projection segment acquired a significant revenue share of the overall Microdisplay market in 2020. This is attributed to the growing popularity of virtual reality headsets for gaming and entertainment. Moreover, rising demand for DLP (Digital Light Processing) projectors in a variety of industries, such as education and corporate training, is expected to support the projection segment's growth.
On the basis of Application, the Microdisplay market is segmented into Consumer Electronics, Military & Defense, Medical, Industrial, Automotive, and Others. In 2020, Consumer Electronics procured the highest revenue share of the overall Microdisplay market. This is owing to the increasing usage of smartphones, smartwatches, and smart glasses. Moreover, the growing popularity of virtual reality gaming headsets, combined with a trend in consumer preferences toward the miniaturization of electronic gadgets to make them more convenient and portable, is expected to fuel the segment's growth over the forecast period.
On the basis of resolution, the market is segmented into HD & FHD, and Others. In 2020, HD & FHD acquired the maximum revenue share in the Microdisplay market. Others segment collected the significant revenue share in the overall market.
By Technology, the Microdisplay market is segregated into OLED, LCD, DLP, and LCoS. In 2020, the LCD segment accounted for the maximum revenue share of the overall Microdisplay market. This is owing to the massive utilization of LCD in HUDs, HMDs, and Electronic Viewfinders (EVFs).
Based on the Region, the Microdisplay market is analysed across North America, Europe, APAC, and LAMEA. In 2020, APAC emerged as the leading region of the microdisplay market with the largest revenue share. It is due to the growing demand for various consumer electronics, rising disposable income, expansion of the manufacturing sector and supportive government policies for businesses. In addition, this region is one of the biggest exporters of various components, devices, and semiconductors.
The major strategies followed by the market participants are Partnerships. Based on the Analysis presented in the Cardinal matrix; Sony Corporation is the major forerunners in the Microdisplay Market. Companies such as Seiko Epson Corporation, eMagin Corporation, Himax Technologies, Inc., etc. are some of the key innovators in the market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Sony Corporation, Seiko Epson Corporation, eMagin Corporation, Kopin Corporation, Himax Technologies, Inc., HOLOEYE Photonics AG, Yunnan OLiGHTEK Opto-Electronic Technology Co., Ltd., WiseChip Semiconductor, Inc., Raystar Optronics, Inc., and Winstar Display Co. Ltd.
Microdisplays find potential application in military and defense, consumer electronics, and medical applications due to their high resolution and outstanding picture quality, low power consumption, and small size. In addition, the growing number of Near-To-Eye (NTE) applications in various consumer electronics, such as head-mounted displays and smart glasses, is expected to act as a growth factor for the microdisplay industry.
A screen with a diagonal size of less than two inches is known as a microdisplay. Consumer electronic products such as smartwatches, head-mounted displays (HMDs), smartphones, smart glasses, and digital camera viewfinders are rapidly incorporating microdisplays. They have a super extended graphics array (SEGA) resolution, which provides a better viewing angle and brightness for an enhanced user experience. Moreover, the rising demand for nanotechnology devices to detect micro-sized elements is expected to drive market growth over the forecast period.
A crucial element driving the microdisplay market is the increased deployment of advanced ADAS, which is being accompanied by a surge in demand for HUDs. The need for ADAS is rapidly expanding, particularly in the United States, Japan, and China. According to the Federal Motor Carrier Safety Administration (FMCSA), the United States began a project in 2019 to promote the use of ADAS in the trucking industry due to ADAS' proven ability to reduce fatalities, injuries, and crashes.
COVID-19 Impact Analysis
COVID-19, a deadly respiratory virus that began in China, has been affecting a large number of people across the globe. For the current scenario, the impact of COVID-19 on the microdisplay market and consumer demand is unknown. On the other hand, as a majority of the microdisplay manufacturers are situated in China, it is expected that device manufacturing is expected to be reduced in the short future.
As a result, gadget manufacturers must be prepared for disruptions in China's supply chain. The impact of supply chain disruption was experienced during the first quarter of 2020, as COVID-19 has a substantial impact on other countries such as the United States, India, Germany, and the United Kingdom. In 2020, this is likely to have a detrimental impact on the microdisplay.
Market Growth Factors:
High quality and rising NTE applications
The high resolution and pixel density of different kinds of microdisplay allows for great picture quality without any subpixel changes. Microdisplay uses the 14001044 pixel, which has a pixel density of 2916 pixels per inch. Furthermore, these screens are employed in health monitors to give real-time monitoring. Due to the high quality and resolution of microdisplay, smart device manufacturers are adopting them for updating and improving their final products.The high popularity of OLED
Thin films of organic light-emitting (OLED) materials emit light when power is applied to them, allowing for the development of thin, efficient, and bright displays. OLEDs are expected to displace incumbent technologies in the display ecosystem. As a result, a considerable number of corporations have begun to invest more heavily in OLED research and development.Marketing Restraining Factor:
Challenges of developing Power-efficient microdisplays with high resolution and brightness
Despite substantial scientific developments in microdisplays over the previous decade, a number of technical and usability challenges remain, keeping microdisplays from being extensively used in a variety of demanding applications, including virtual reality headgear. Microdisplay manufacturers are expected to face a significant challenge in developing microdisplays with a small form factor while maintaining a wide field of view and high resolution. Manufacturers are facing various challenges in the usage of microdisplay as they consume relatively more power. This has increased demand for energy-efficient microdisplays in the market.
Product Type Outlook
Based on the Product Type, the Microdisplay market is divided into Near-to-Eye, Projection, and Others. The Projection segment acquired a significant revenue share of the overall Microdisplay market in 2020. This is attributed to the growing popularity of virtual reality headsets for gaming and entertainment. Moreover, rising demand for DLP (Digital Light Processing) projectors in a variety of industries, such as education and corporate training, is expected to support the projection segment's growth.
Application Outlook
On the basis of Application, the Microdisplay market is segmented into Consumer Electronics, Military & Defense, Medical, Industrial, Automotive, and Others. In 2020, Consumer Electronics procured the highest revenue share of the overall Microdisplay market. This is owing to the increasing usage of smartphones, smartwatches, and smart glasses. Moreover, the growing popularity of virtual reality gaming headsets, combined with a trend in consumer preferences toward the miniaturization of electronic gadgets to make them more convenient and portable, is expected to fuel the segment's growth over the forecast period.
Resolution Outlook
On the basis of resolution, the market is segmented into HD & FHD, and Others. In 2020, HD & FHD acquired the maximum revenue share in the Microdisplay market. Others segment collected the significant revenue share in the overall market.
Technology Outlook
By Technology, the Microdisplay market is segregated into OLED, LCD, DLP, and LCoS. In 2020, the LCD segment accounted for the maximum revenue share of the overall Microdisplay market. This is owing to the massive utilization of LCD in HUDs, HMDs, and Electronic Viewfinders (EVFs).
Regional Outlook
Based on the Region, the Microdisplay market is analysed across North America, Europe, APAC, and LAMEA. In 2020, APAC emerged as the leading region of the microdisplay market with the largest revenue share. It is due to the growing demand for various consumer electronics, rising disposable income, expansion of the manufacturing sector and supportive government policies for businesses. In addition, this region is one of the biggest exporters of various components, devices, and semiconductors.
Cardinal Matrix - Microdisplays Market Competition Analysis
The major strategies followed by the market participants are Partnerships. Based on the Analysis presented in the Cardinal matrix; Sony Corporation is the major forerunners in the Microdisplay Market. Companies such as Seiko Epson Corporation, eMagin Corporation, Himax Technologies, Inc., etc. are some of the key innovators in the market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Sony Corporation, Seiko Epson Corporation, eMagin Corporation, Kopin Corporation, Himax Technologies, Inc., HOLOEYE Photonics AG, Yunnan OLiGHTEK Opto-Electronic Technology Co., Ltd., WiseChip Semiconductor, Inc., Raystar Optronics, Inc., and Winstar Display Co. Ltd.
Recent Strategies Deployed in Microdisplays Market
» Partnerships, Collaborations and Agreements:
- Jul-2021: Kopin signed a multi-year agreement with a leading Japanese electronics company. Following the agreement, the two companies is expected to design super bright 2K x 2K full-color Light Emitting Diode (LED) microdisplays on silicon. Moreover, Kopin is expected to design and supply its proprietary backplane silicon wafers and the Japanese company is expected to design bonding and color conversion processes.
- Feb-2021: eMagin Corporation signed an agreement with Bild Innovative Technology, an Electrical or Electronic Engineering business based in Chicago. Following the agreement, Bild Innovative Technology is expected to provide its range of OLED microdisplay compact driver boards to the customers of eMagin. The agreement is expected to provide an option to the customers of buying eMaging OLED microdisplays along with compact drive boards.
- Feb-2021: Kopin Corporation signed an agreement with HMDmd, an innovator and developer of wearable display technology for surgeons. Following the agreement, the two companies is expected to together develop a precision head-worn display system that enables the physicians to manually maintain a more comfortable position throughout the surgery while accessing high-resolution real-time information like video images from a camera in the diagnostic images, surgical field, and patient-specific data.
- Jan-2021: Kopin signed a multi-year agreement with Jade Bird Display, the leading maker of microLED microdisplays. Under this agreement, the two companies is expected to jointly design superbright monochrome LED microdisplays. Following the agreement, Jade Bird Display is expected to offer the LED wafers and the hybrid bonding service on Kopin-designed and supplied Si backplane wafers for monolithic 2K x 2K LED microdisplays (2048 x 2048 resolution in about 1″ diagonal size).
» Product Launches and Product Expansions:
- Nov-2021: eMagin Corporation introduced the latest prototype for a widescreen ultra-extended graphics array (WUXGA) (1920x1200 pixels). The latest projector utilizes the Direct Patterning Display (dPd) technology of the company to attain 10,000 candelas per square meter (cd/m2) of highest luminance, thus it has become the brightest high-resolution, full-color OLED microdisplay in the world.
- Jun-2021: Kopin Corporation unveiled superbright HDR 1”-diagonal SXGA (1280 x 1024 resolution) OLED microdisplay. Through this launch, the company introduced the first of its kind high-dynamic range (HDR), ultrahigh-brightness (> 35,000 nits), green Organic Light Emitting Diode (OLED) microdisplay on silicon, developed for advanced Augmented Reality (AR) applications.
- Nov-2020: Epson rolled out a Si-OLED, the latest OLED microdisplay and AR display engine. The latest optical engine features 1.5X higher density, 5X higher contrast, and a 1.5X broader field of view than earlier optical engines of the company. In addition, the latest OLED microdisplay is 0.453-inch in size with a resolution of 1920x1080 and a contrast ratio of 500,000:1.
- Jan-2020: Kopin introduced a 0.49" 720p monochrome green Double-Stack OLED microdisplay. In addition, the new microdisplay features extreme brightness at above 20,000 nits with a very low consumption of OLED power of just 130 mW. In addition, the company's latest architecture and technologies is expected to allow it to achieve a brightness of 5,000 nits.
Scope of the Study
Market Segments Covered in the Report:
By Product Type
- Near-to-Eye
- Projection Based, and
- Others
By Application
- Electronics
- Military & Defense
- Medical
- Industrial
- Automotive
- Retail & Hospitality
- Sports & Entertainment, and
- Others
By Resolution
- HD & FHD, and
- Others
By Technology
- LCD
- LCoS
- DLP, and
- OLED
By Geography
- North America
- US
- Canada
- Mexico
- Rest of North America
- Europe
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
- LAMEA
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- Sony Corporation
- Seiko Epson Corporation
- eMagin Corporation
- Kopin Corporation
- Himax Technologies, Inc.
- HOLOEYE Photonics AG
- Yunnan OLiGHTEK Opto-Electronic Technology Co., Ltd.
- WiseChip Semiconductor, Inc.
- Raystar Optronics, Inc.
- Winstar Display Co. Ltd.
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Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market Overview
Chapter 3. Competition Analysis - Global
Chapter 4. Global Microdisplays Market by Product Type
Chapter 5. Global Microdisplays Market by Application
Chapter 6. Global Microdisplays Market by Resolution
Chapter 7. Global Microdisplays Market by Technology
Chapter 8. Global Microdisplays Market by Region
Chapter 9. Company Profiles
Companies Mentioned
- Sony Corporation
- Seiko Epson Corporation
- eMagin Corporation
- Kopin Corporation
- Himax Technologies, Inc.
- HOLOEYE Photonics AG
- Yunnan OLiGHTEK Opto-Electronic Technology Co., Ltd.
- WiseChip Semiconductor, Inc.
- Raystar Optronics, Inc.
- Winstar Display Co. Ltd.
Methodology
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