The global microdisplays market is expected to witness substantial growth over the forecast period owing to the increasing use of microdisplays in smartphones and televisions. Microdisplays are expected to be majorly used in the automotive industry for automotive prototyping in terms of virtually designing a car and evaluating the exact position of different parts that can be changed accordingly. In addition, microdisplays are widely used in the automotive sector for providing additional information to the driver with respect to night vision. This is expected to primarily drive the global microdisplays market over the next few years. These displays are being increasingly used in Head Mounted Displays (HMDs) and HUDs, which are extensively used in military and medical industries. Increased adoption of these augmented reality products is further expected to foster demand for these displays over the forecast period.
Microdisplay is a microminiaturized display with a screen size of less than two inches diagonal. These are compact small-sized displays with large number of pixels and high resolution. The microdisplays are made of CMOS chips that include a two-dimensional array of transistors. They are used in rear-projection TVs and their data projector counterparts, in the viewfinders of digital cameras, and in Head Mounted Displays (HMDs). Microdisplays are used in TVs to increase the voice and image clarity as they reduce the overall cost. Hence, increasing usage of these displays in rear projection TVs is expected to be a major growth driver in this market over over the forecast period.
High manufacturing costs associated with microdisplays are expected to pose a major challenge on global microdisplays market growth over the next six years. High manufacturing as well as R&D costs may also hamper market growth. However, vendors are expected to implement technologies at a lower price to reduce the overall costs and overcome the aforementioned issue.
Growing number of applications in consumer electronic products is expected to be one of the major growth drivers in the microdisplays market. Emergence of microdisplay-based holographic displays is expected to positively impact the market over the forecast period. The holographic displays segment is expected to grow at a slow pace owing to its non-commercialized existence in the market. However, this technology is anticipated to witness significant growth over the forecast period. Liquid Crystal On-Silicon Technology (LCOS), Liquid Crystal Display Technology (LCD), Digital Micromirror Devices (DMD) and Organic Light Emitting Diode (OLED) are various technologies used in the microdisplays market.
The key market participants include Universal Display Corp., Microvision Inc., Micron Technologies Inc., Liteye Systems Inc., LG Display Co Ltd., Kopin Corp., Himax Display Inc., Forth Dimension Displays Ltd., Epson Corp., eMagin Corp., Cambridge Display Technology Ltd., AU Optronics Corp., and Wisechip Semiconductor Inc.
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