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What Are the Evolving Opportunities for the Players in the Microdisplay Market?

07-29-2021 05:03 PM CET | Advertising, Media Consulting, Marketing Research

Press release from: P&S Intelligence

What Are the Evolving Opportunities for the Players in

The rising number of near-to-the-eye applications and increasing preference for advanced driver assistance systems (ADAS) that are integrated with heads-up displays (HUDs) are resulting in the rising sales of microdisplays. As a result, the microdisplay market, which valued $1.0 billion in 2019, is projected to grow to $4.0 billion by 2030, at a 13.4% CAGR during 2020–2030 (forecast period). As the name suggests, microdisplays are displays of rather small sizes that offer a high pixel density and resolution.

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The categories of the microdisplay market under the brightness segment are 1,000 nits. Among these, the >500 nits category held the largest share in 2019 because of the early adoption of low-brightness microdisplays in the military & defense, consumer electronics, and aerospace sectors. During the forecast period, the fastest growth will be seen in the >1,000 nits category due to the rising demand for augmented reality/virtual reality (AR/VR) devices. Additionally, high-brightness head-mounted displays (HMDs) are being increasingly used in the medical, defense, military, and aerospace sectors.

The strongest driver for the microdisplay market is the increasing usage of ADAS integrated with HUDs. Due to the rising number of road accidents, which kill 1.3 million people each year, as per the World Health Organization (WHO), countries are mandating the installation of ADASs in vehicles, so that the chances of human error can be reduced. To make ADAS more effective, it is being integrated with HUDs, so the driver sees all the driving-related data in their line of sight, without having to tilt their head.

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In 2019, the microdisplay market was dominated by Asia-Pacific (APAC) due to the presence of numerous industry players, which has led to a reduction in the prices of the end products for regional consumers. Additionally, China, Japan, and India are three of the largest producers of consumer electronics and automobiles in the world, which is why the demand for microdisplays in both these industries is rapidly booming here. Moreover, with the increasing disposable income of people, sales of connected vehicles and those with ADASs and of AR/VR devices are burgeoning.

Therefore, as people around the world continue to prosper, the resulting increase in the sales of consumer electronics and connected vehicles will keep giving impetus to the market.

P&S Intelligence
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P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.

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