Liquid Crystal on Silicon Display Market is expected to register a CAGR close to 32.14% during 2018 – 2023 | 3M, CANON, HIMAX DISPLAY, PIONEER, MICROVISION, LG ELECTRONICS, HOLOEYE SYSTEMS, JVC KENWOOD CORPORATION

The global LCoS display market is projected to grow at a CAGR of 32.14% over the forecast period (2018 - 2023). The regions considered in the report include North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa.

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The increasing demand for high-resolution display is expected to boost the liquid crystal on silicon (LCoS) display market. LCoS-based products offer higher quality and more precise results than the other competing technologies, such as liquid crystal display (LCD) and digital light processing (DLP). Compatibility with a wide range of products, an open technology platform, and superiority in terms of the competing technology are some of the major drivers of market growth. These LCoS displays are frequently used in projectors and the rising demand for projectors during sports events is also expected to aid as a key market opportunity for the LCoS display market. Automotive, medical, aviation, consumer electronics, military, and optical 3D measurement are the other major application-based segments of the LCoS display market. However, the cost of this technology when compared to competitive technologies, like LCD and LED, is hindering the market.

Key Developments in the Market
January 2018 - Continuing to exceed the demands of professional projection applications across a wide range of industries, Canon U.S.A. Inc., a worldwide leader in digital imaging solutions, had expanded its award-winning REALiS LCOS projector lineup. The REALiS WUX5800Z, WUX6600Z, and WUX7000Z Laser Projectors and the REALiS WUX5800, WUX6700, and WUX7500 Lamp Projectors were launched which offers users WUXGA (1920 x 1200) high resolution, high brightness ranging from 5800-7500 Lumens, and versatile connectivity, including HDMI and DisplayPort terminals, all in an enhanced, durable as well as compact body.

The major players include –
3M, CANON INC., HIMAX DISPLAY INC., PIONEER CORPORATION, MICROVISION INC., LG ELECTRONICS INC., HOLOEYE SYSTEMS INC., JVC KENWOOD CORPORATION, and SONY CORPORATION, amongst others.

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Technological Advancements and Increasing Demand for High-resolution Display Products to Drive Market Growth
Recent advances in integrated circuit design and liquid crystal materials have increased the application of LCoS to displays and other optical functions. Evolving technology related to pixels is driving the market for LCoS. This technology is used to minimize the gap between pixels and improve the overall image quality. The new LCoS designs have reduced power consumption to make portable displays and viewing elements more viable. Also, innovative optical system elements, including image & illumination waveguides and laser illuminators, have been combined into LCoS based display systems for HMD, HUD, projector, and image analysis/surveillance direct view monitor applications. Expansion in the consumer electronics and aviation applications, where LCoS panels are increasingly used in products like HUD and HMD products with the latest technological advancements coupled with the rising demand for high resolution in consumer electronics, is driving the market.

Projectors Witnessed Huge Demand for LCoS Systems
Projectors constitute the major market share of the LCoS display market. The increasing preference for a theater-like gaming experience or movie among consumers has led to rising adoption of home LCoS projectors. This increasing adoption is largely due to the high resolution of the LCoS projector, and a high refresh rate that reduces flicker effect. Due to this, LCoS projectors are finding increasing adoption in a series of handheld and installation projectors. LCoS projectors are a hybrid of both the liquid crystal as well as the DLP technology. This dual combination of technology allows these projectors to have higher image resolution and better picture quality within a compact size.

North America Expected to Hold the Largest Market Share
North America has a very mature market, with lower growth rates for the majority of end-user verticals. However, the region is expected to exhibit a rise in the use of LCoS of the premium product range in the consumer electronics, military, and aerospace. The micro-displays in this region are gaining momentum and have applications in the automotive sector as well as data storage. Moreover, major electronics makers, like LG and Sony, and presence of manufacturing units of major companies, like 3M, LG, Sony and Pioneer Corporation, in the region is also favoring the LCoS display market. These companies are investing heavily in the development of high-resolution, flexible, and stretchable displays. Additionally, the aviation industry is another application that is increasingly using LCoS for high illuminated displays. Surging investments in the aviation industry are also expected to favor the LCoS display market.

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