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Microdisplay is the miniaturized display screen which has applications in small display areas such as mobile screen, digital cameras, and others. The increasing demand for wearable devices is boosting the microdisplay market.The rising adoption of augmenter and virtual reality technology will support in growth of micro display market. Further, to provide immersive environment for the user, the product display quality is essential microdisplay solutions offer great potential in providing high quality display. The demand for microdisplay is growing with the increasing demand for the miniaturized product.
The microdisplay product can be offered using technologies such as liquid crystal displays (LCDs), organic light-emitting diodes (OLED), digital light processing among others. The demand for organic light-emitting diodes is gaining traction owing to its high switching speed. This offers high refresh display rate, that reduces motion sickness. The enhanced display quality is likely to fuel microdisplay adoption in industries such as gaming and entertainment, automotive, healthcare, education and more.
Key Market Driver -
• Increasing demand for wearable devices with microdisplay is likely to propel market growth • Growing demand for virtual and augmented head-mounted devices are likely to propel market growth
Key Market Restraint -
• Display latency might hamper the microdisplay demand
Key players in the market are Sony Corporation, Microtips Technology, LLC, Universal Display Corporation, Kopin Corporation, eMagin Corporation, Texas Instruments, Holoeye Photonics, Seiko Epson, Himax Technologies, Inc, WiseChip Semiconductor Inc., LG Display Co. Ltd., Syndiant Inc. among others. The companies are focusing on its product expansion by investing in new product development. The key players are offering advanced microdisplay solution for augmented and virtual reality.
North America is expected to lead the market during the forecast period. The growing markets such as augmented reality, virtual reality, smart wearable devices are boosting the demand for microdisplay in the region. US is expected to gain traction owing to highly growing industries such as gaming & entertainment, healthcare, education, and more. Europe is expected to gain the second-highest market revenue. The increasing ICT technology in Europe is boosting the demand for microdisplay. Germany is witnessing rapid growth in the healthcare industry, rising increasing health awareness in Germany, France, and UK.
Asia Pacific is expected to gain traction owing to the leading provider of hardware devices such as head-mounted display, smart glasses, wearable devices. Japan and China are expected to gain traction owing to the presence of companies such as LG Electronics, Samsung Electronics, Sony Corporation. Latin America and Middle East and Africa are likely to grow significantly owing to rising demand for AR/VR, wearable & smart devices, and more.
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