Press release
Global Microdisplay Market To Be Driven By The Growing OLED Industry In The Forecast Period Of 2021-2026
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter's Five Forces models.
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The key highlights of the report include:
Market Overview (2016-2026)
Historical Market Size (2020): USD 1.12 Billion
Forecast CAGR (2021-2026): 20%
Forecast Market Size (2026): USD 3.3 Billion
Thin films of OLED materials emit light when electricity is applied to them, allowing for the creation of thin, effective, and bright displays. OLEDs are expected to replace current technologies in the display ecosystem, according to many industry experts. Because of their advanced features, such as higher contrast, quicker response time, and a wider operating temperature range than LCDs, OLED microdisplays are gaining traction.
OLED microdisplays have outperformed traditional LCD and LCoS microdisplay technologies and are now commonly used in EVFs and HMDs. A significant number of businesses have begun to invest more heavily in OLED research and development, and this is expected to be a major factor driving the growth of the market over the forecast period.
Industry Definition and Major Segments
A microdisplay is a screen that is extremely small. Microdisplays usually have a diagonal panel size of less than two inches. In the late 1990s, this form of small electronic display device became commercially available. Microdisplays are most commonly seen in rear-projection televisions and head-mounted displays.
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Based on product, the market can be divided into following:
Near-to-Eye (NTE) Devices
Head-Up Display (HUD)
Projector
Others
The market breakup on the basis of technology can be as follows:
Liquid Crystal Display (LCD)
Liquid Crystal on Silicon (LCOS)
Organic Light Emitting Diode (OLED)
Digital Light Processing (DLP)
On the basis of resolution, the industry is segmented into:
Lower Than HD
HD
FHD
Higher Than FHD
On the basis of brightness, the industry can be segmented into:
Less Than 500 Nits
500-1,000 Nits
More Than 1,000 Nits
Based on end-use, the market is divided into the following:
Consumer
Industrial and Enterprise
Automotive
Military, Defence, and Aerospace
Sports and Entertainment
Retail and Hospitality
Medical
Education
Others
Regionally, the industry is classified into:
North America
Europe
Asia Pacific
Latin America
Middle East and Africa
Market Trends
Compact size and technological advancements in microdisplays will fuel market expansion during the projected period. The growing usage of HMD in numerous sectors, higher demand for OLED microdisplays, and rising global adoption of advanced driver-assistance systems (ADAS) and HUD are also driving the market growth globally. The rising industrialisation of the microdisplay market, and the presence of a significant number of OEMs and customers in many countries, are contributing to the market's rise.
The key industries in various regions that contribute considerably to the growth of the microdisplay market are consumer, industrial and enterprise, automotive, and military, defence, and aerospace. The presence of a large number of microdisplay producers has also resulted in lower microdisplay prices and greater adoption of microdisplay-based devices in the countries.
Key Market Players
The major players in the market are Kopin Corporation, Himax Technologies Inc., eMagin Inc., Sony Semiconductor Solutions Corporation, Jasper Display Corp., and Seiko Epson Corporation, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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