Microdisplays Market Size, Share & Trends Report

Microdisplays Market Size, Share & Trends Analysis Report By Projection (Projection, Near-to-Eye), By Application (Medical, Automotive), By Technology (OLED, LCD, DLP, LCoS), and Segment Forecasts, 2018 - 2025

  • Published Date: Nov, 2018
  • Base Year for Estimate: 2017
  • Report ID: GVR-2-68038-645-5
  • Format: Electronic (PDF)
  • Historical Data: 2015 - 2016
  • Number of Pages: 90

Industry Insights

The global microdisplays market size was valued at USD 888.3 million in 2017. It is projected to expand at a CAGR of 19.1% from 2018 to 2025. A microdisplay can be defined as a screen with a diagonal size of less than two inches. Microdisplays are being increasingly incorporated in consumer electronic devices, such as smart watches, head-mounted displays (HMDs), smartphones, smart glasses, and viewfinders of digital cameras.

They provide a super extended graphics array (SEGA) resolution that offers an improved viewing angle and enhanced brightness for a better user experience. They are being used across numerous sectors, such as military & defense, consumer electronics, medical, and manufacturing. Additionally, increasing demand for nanotechnology devices to detect micro-sized elements is anticipated to spur the growth of the market during the forecast period.

U.S. microdisplays market

Strong demand for microdisplays in Near-To-Eye (NTE) applications along with surging use of these devices in HMDs and HUDs (Head-Up Displays) for military, medical, and automotive applications is estimated to drive the market during the forecast period.

The medical industry is a promising end user segment for market players owing to rising implementation of microdisplays in diagnostic equipment, including CT scanners, ECG machines, medical imaging machines, and other devices. Organic Light Emitting Diode (OLED) microdisplays are widely used in monochrome night-vision systems for military applications, including thermal imaging, situational awareness, and training of soldiers.

Growing popularity of smartwatches and fitness trackers among consumers for various applications, such as health monitoring, lifestyle support, entertainment, and fitness monitoring, is expected to fuel the demand for microdisplays during the forecast period. Emergence of microdisplay-based holographic displays is also likely to stimulate the growth of the market during the forecast period.

Moreover, Virtual Reality (VR) headsets compatible with smartphones and other devices are being increasingly adopted by youngsters for an enhanced gaming experience. Smartphone manufacturers such as Samsung and HTC also offer VR headsets on purchase of new smartphones. This trend is poised to further propel the market.

However, high manufacturing and R&D costs associated with microdisplays are projected to inhibit the growth of the market. Nevertheless, manufacturers are implementing low-cost technologies to reduce the overall costs.

Technology Insights

The LCD segment accounted for just over 55.0% of the overall market revenue in 2017. The segment is anticipated to dominate the market through 2025. The growth of the segment can be attributed to extensive use of LCD microdisplays in HUDs, HMDs, and Electronic Viewfinders (EVFs). Moreover, the Liquid Crystal on Silicon (LCoS) segment is estimated to exhibit noteworthy growth during the forecast period owing to its compact size and enhanced efficiency.

Furthermore, key market players are highly focused on incorporating new OLED microdisplay technology to provide displays with a better visual performance to customers. Besides, there is a heightened demand for OLED microdisplays for VR headset displays owing to their higher power efficiency, faster response times, enhanced resolutions, and lower costs. Rising awareness regarding advantages of this technology type is expected to bode well for the overall market.

Projection Insights

The NTE segment dominated the market in 2017, with a share of approximately 48.0%. Spiraling demand for AR glasses in industrial applications supporting warehouse management, on-the-job training to field workers, and maintenance and inspection activities, among others has been contributing to the growth of the segment. Besides, increasing use of HUDs in premium vehicles is also likely to escalate the growth of the segment.

Growing adoption of VR headsets for gaming and entertainment purposes is poised to open growth opportunities for the microdisplays market. Moreover, growing demand for DLP (Digital Light Processing) projectors in various sectors such as education and corporate training is anticipated to supplement the growth of the projection segment.

Application Insights

In 2017, the military and defense sector accounted for over 39.0% of overall market revenue. The growth of the segment can be attributed to high demand for low-power OLED microdisplays for several applications, such as thermal imaging, situational awareness, simulation, and training. Prominent manufacturers such as Kopin Corporation and eMagin, Corporation are offering various microdisplay-related products such as night vision goggles and thermal weapon sights for military applications, which deliver an enhanced visual experience.

Global microdisplays market

The consumer electronics segment is projected to witness the highest growth during the forecast period, owing to surging adoption of smartphones, smartwatches, and smart glasses. Besides, rising adoption of VR gaming headsets coupled with shifting consumer preferences toward miniaturization of electronic devices to make them handy and portable is estimated to stoke the growth of the segment during the forecast period.

Regional Insights

North America commanded more than 35.0% of the overall revenue in 2017. Increasing use of ICT technologies in the educational sector is transforming traditional classroom teaching, which in turn is driving the regional market. High military expenditure by the U.S. government (approximately 4.0% of the total GDP) is leading to increased spending on microdisplay applications, such as night vision HUDs and thermal imaging.

Moreover, Asia Pacific is expected to witness the highest growth rate over the forecast period. Presence of prominent market players such as Samsung Electronics Co., Ltd.; Sony Corporation; LG Electronics Inc.; and Toshiba Corporation is likely to bolster market growth over the coming years.

Microdisplays Market Share Insights

Prominent market players include Kopin Corporation; Himax Technologies, Inc.; eMagin Corporation; WiseChip Semiconductor Inc.; Microtips Technology, LLC; Universal Display Corporation; Sony Semiconductor Solutions Corporation; Micron Technology Inc.; LG Display Co. Ltd.; Seiko Epson Corporation; Yunnan Olightek Opto-Electronic Technology Co., Ltd.; and Jasper Display Corp. In May 2018, Kopin Corporation introduced a new lighting OLED microdisplay for VR headsets supporting a 720p display resolution, thus enhancing the overall user experience.

Report Scope

 Attribute

Details

Base year for estimation

2017

Actual estimates/Historical data

2015 - 2016

Forecast period

2018 - 2025

Representation

Revenue in USD Million and CAGR from 2018 to 2025

Regional scope

North America, Europe, Asia Pacific, Rest of the World (RoW)

Country scope

U.S., Canada, Mexico, U.K., France, Germany, Spain, Italy, China, India, Japan, South Korea, and Brazil  

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

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Segments Covered in the Report

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the industry trends in each of the sub-segments from 2015 to 2025. For the purpose of this study, Grand View Research has segmented the global microdisplays market report on the basis of technology, projection, application, and region:

  • Technology Outlook (Revenue, USD Million, 2015 - 2025)

    • OLED

    • LCD

    • DLP

    • LCoS

  • Projection Outlook (Revenue, USD Million, 2015 - 2025)

    • Near-to-Eye

    • Projection

    • Others

  • Application Outlook (Revenue, USD Million, 2015 - 2025)

    • Consumer Electronics

    • Military & Defense

    • Medical

    • Industrial

    • Automotive

    • Others

  • Regional Outlook (Revenue, USD Million, 2015 - 2025)

    • North America

      • U.S.

      • Canada

      • Mexico

    • Europe

      • U.K.

      • Germany

      • France

      • Spain

      • Italy

    • Asia Pacific

      • India

      • China

      • Japan

      • South Korea

    • RoW

      • Brazil

      • MEA

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