Growing demand for high resolution display is expected to boost LCoS market growth. LCoS-based products offer higher quality and more precise results than competing technologies such as Liquid Crystal Display (LCD) and Digital Light Processing (DLP). An open technology platform, compatibility with a wide range of products and superiority in terms of competing technology are some of the key drivers for market growth. However, LCoS-based displays are more expensive and there are few players in the market offering this technology. These displays are often used in projectors; high demand for projectors during sports events is expected to serve as a key market opportunity for the LCoS market.
The LCoS market can be segmented in terms of product and application. Major products that make use of this technology include Head-Mounted Display (HMD), Head-Up Display (HUD) and projectors. Projectors account for the largest market share owing to a large number of applications in business, education and home theatre systems. HUD is used for training and simulation purposes and also used in aircrafts or high-end cars. Although HMD products are largely used in aviation and military applications, they also find use in medicine, research, gaming and sports activities.
Automotive, aviation, consumer electronics, medical, military and optical 3D measurement are the major applications segments of the LCoS market. Consumer electronics is the most attractive market segment followed by aviation applications. Advanced panels are used in HUD and HMD products of the aviation sector. Use of HUDs in automobiles makes automotive a promising sector for the market
North America currently holds the largest market share followed by Europe. The Asia Pacific market is expected to grow at a fast rate owing to growing demand for consumer electronics and high growth of projector market in the region. Key market players include 3M, Himax Display Inc., Cannon Inc., JVC Kenwood Corporation, Pioneer Corporation, Microvision Inc., Holoeye Systems Inc., Sony Corporation, LG Electronics Inc. and Syndiant Inc.
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