Microdisplay Market To Propel At a Growth Rate of Over 17%

The total size of the microdisplay market will grow at a compound annual growth rate of over 17% in the years to come to reach a value of about $5,536 million in 2030. The main factors which are responsible for the development of the industry are the increasing acceptance of head-up display integrated advanced driver assistance systems and cumulative count of near-to-eye applications.

The dominant category in the industry was the LCD category in the industry in the recent past. This is mainly because of the fact that these displays have a lower consumption of power, compact size, and lower price. Consequently, using LCDs, manufacturers reduced the size of these mechanisms over time. LCD displays are used in HMDs, HUDs, EVFs, wearables, and thermal imaging glasses.

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Projectors had the maximum demand in the recent past. This has a lot to do with the increasing acceptance of data projectors in the education and business industries. Furthermore, the initiatives of the government for snowballing the acceptance of digital technologies are one of the primary reasons for the growing requirement for projectors.

The more than 1,000 nits will grow the fastest in the near future. This has a lot to do with the increasing requirement for HMDs because of the growing acceptance of AR/VR devices. The screens having high-brightness are put to use in HMDs in industries like military & defense medical devices, and aerospace to get a clear sight of an object or image.

Automotives will observe the fastest growth in the coming years. This is due to the increasing acceptance of ADAS, particularly those combined with HUDs, in vehicles. Additionally, the sports & entertainment will also register substantial growth in the near future because of the snowballing acceptance of VR gaming headsets.

APAC was the industrial dominator in the past, and it will continue like this in the future as well. Furthermore, the microdisplay market of the APAC will be the fastest growing in the future. This is because of the existence of a considerable number of manufacturers, which is the reason for the fall in prices of these products and a surge in the penetration of microdisplay-based devices.

A main industrial trend is the usage of OLED microdisplays in electronics. These mechanisms offer a compact size with a high pixel resolution, thus subsequent in an improved picture quality. These mechanisms are being increasingly used in consumer electronic products, particularly VR headsets, which are experiencing a rise in acceptance.

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The increasing requirement for microdisplays in NTE applications is a key factor driving the industry. These screens are progressively used in NTE devices, like AR/VR headsets, HMDs, mobiles and cameras; along with full-color projection devices. Amongst these, AR/VR devices and HMDs are the key applications. The growing requirement for AR and VR devices from entertainment and gaming sector strengthens the projections for these products.

Due to the increasing acceptance of HUD integrated ADAS and also because of the increasing number of NTE applications, the demand for microdisplay is on the rise.

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This release was published on openPR.