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Exploring The Future of Microdisplay Market: Embracing New Trends, Technological Advancement, Key Factors Driving Growth, and Forecasting till 2032 || Panasonic Corporation, Kopin Corporation, Micron Technology Inc
Microdisplay Market
The Business Research Company's Microdisplay Global Market Report 2023 identifies the surging use of microdisplays in the automotive industry is the major driver for the microdisplay market's growth in the forecast period. The automotive industry is a sector that encompasses numerous organizations and firms involved in the design, development, manufacture, marketing, selling, and maintenance of motor vehicles. Microdisplays provide flexibility, low power usage, high luminance and contrast, and high pixel density in automotive applications. For instance, according to the Bureau of Transportation Statistics (BTS), a US-based agency that publishes information on transportation systems, new vehicle sales increased to 11,741 (Thousands of vehicles) in 2021 from 11,041 (Thousands of vehicles) sales in 2020.
The global microdisplay market is expected to grow from $1.19 billion in 2022 to $1.45 billion in 2023 at a compound annual growth rate (CAGR) of 21.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global microdisplay is expected to reach $2.99 billion in 2027 at a CAGR of 19.8%.
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Major competitors in the microdisplay market are Sony Semiconductor Solutions Corporation, Panasonic Corporation, Kopin Corporation, Micron Technology Inc., Toshiba Corporation, LG Display Co. Ltd, Sharp Corporation, Kyocera Corporation, Seiko Epson Corporation, AUO Corporation, Konica Minolta Inc., Himax Technologies Inc., Universal Display Corporation, CEA-Leti, WiseChip Semiconductor Inc., Microtips Technology LLC.
A key trend in the microdisplay market includes technological advancements. Major companies operating in the microdisplay market are focused on developing technically advanced solutions to meet specific demands and sustain their position in the market. For instance, in January 2020, INT Tech Co. Ltd., a Taiwan-based technology company, launched a 0.7"" 2300 PPI Native RGB AMOLED display, an ultra-low power consumption near-eye display for XR standalone headsets.
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The microdisplay market is segmented -
1) By Product: Near-To-Eye (NTE) Devices, Head-Up Displays (HUDs), Projectors, Other Products
2) By Brightness: Less Than 500 Nits, 500-1,000 Nits, More Than 1,000 Nits
3) By Resolution: Lower Than HD(High Definition), HD(High Definition), FHD (Full High Definition), Higher Than FHD (Full High Definition)
4) By Technology: Liquid Crystal Display (LCD), Liquid Crystal On Silicon (LCOD), Organic Light-Emitting Diode (OLED), Digital Light Processing (DLP)
5) By Vertical: Consumer, Automotive, Industrial And Enterprise, Military, Defense, And Aerospace, Retail And Hospitality, Medical, Education, Sports And Entertainment, Other Verticals
6) By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the microdisplay market.
The Business Research Company's "Global Microdisplay Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Microdisplay Market Include:
1. Executive Summary
2. Microdisplay Market Characteristics
3. Microdisplay Market Trends And Strategies
4. Microdisplay Market - Macro Economic Scenario
5. Microdisplay Market Size And Growth
……………
27. Microdisplay Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Microdisplay Market
29. Microdisplay Market Future Outlook And Potential Analysis
30. Appendix
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