Press release
OLED Microdisplay Market Booms at 37.67% CAGR, Asia-Pacific Leads the Way
OLED Microdisplay Market
The global OLED Microdisplay Market is projected to experience significant expansion, with forecasts indicating growth from USD 1.2 billion in 2024 to approximately USD 15.11 billion by 2030, reflecting a robust Compound Annual Growth Rate (CAGR) of 37.67% during the forecast period.
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Competitive Landscape
The OLED microdisplay market is characterized by the presence of key industry players such as eMagin Corporation, Sony Corporation, Kopin Corporation, MicroOLED, and LG Display. These companies are actively engaging in strategic initiatives, including product innovations, partnerships, and mergers and acquisitions, to strengthen their market positions and cater to the growing demand for advanced display solutions.
Regional Demand and Developments
North America: OLED Microdisplay Market Growth and Opportunities
In North America, the OLED microdisplay market is witnessing significant growth due to the increasing adoption of advanced technologies in sectors such as consumer electronics, defense, and healthcare. The region's focus on technological innovation and the presence of major industry players are driving market expansion.
Europe: Trends and Consolidation in the OLED Microdisplay Market
Europe is experiencing a rising demand for OLED microdisplays, driven by the growing adoption of augmented reality (AR) and virtual reality (VR) applications across various industries. The market is witnessing consolidation as companies expand their product portfolios to include advanced display solutions, catering to the increasing demand for high-resolution and energy-efficient displays.
Asia-Pacific: OLED Microdisplay Market Expansion and Innovations
The Asia-Pacific region is a key market for OLED microdisplays, propelled by rapid technological advancements and the growing consumer electronics industry. Countries like China, Japan, and South Korea are experiencing significant market growth due to increased investments in OLED technology and the presence of major display manufacturers.
Middle East and Africa: OLED Microdisplay Market Trends and Potential
The Middle East and Africa region hold potential for OLED microdisplay market growth due to increasing infrastructural developments and a focus on enhancing technological capabilities. The demand for advanced display solutions is rising, providing opportunities for market expansion.
Recent Mergers, Acquisitions, and Developments
eMagin Corporation, a leading manufacturer of OLED microdisplays, was acquired by Samsung Display in October 2023 in an all-cash deal worth approximately USD 218 million. This acquisition aims to enhance Samsung Display's OLED technology portfolio and strengthen its position in the advanced display market.
LG Display announced the sale of its large liquid crystal display (LCD) plant in Guangzhou, China, to TCL's CSOT for USD 1.54 billion in September 2024. This strategic move allows LG Display to focus more on its OLED business, enhancing its competitiveness and financial stability in the display market.
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OLED Microdisplay Market Segmentation:
by Product
Near-to-Eye Displays
Projection Displays
The Near-to-Eye display (NTE display) segment led the market by product in 2023 and is anticipated to develop rapidly at a compound annual growth rate (CAGR) throughout the course of the forecast period. The growing use of OLED microdisplays in gadgets like head-up displays (HUDs), electronic view finders (EVFs), and head-mounted displays (HMDs) is one of the trends propelling the market for near-eye OLED microdisplays. In both daily life and the workplace, virtual reality and augmented reality are becoming more and more popular.
by Resolution
HD
Full HD
by Industry
Automotive
Consumer Electronics
Media
Entertainment & Sports
Retail
Aviation
Aerospace & Defense
Education
The consumer electronics segment led the market by industry in 2023 and is anticipated to continue to do so at a compound annual growth rate (CAGR) during the forecast period. Numerous consumer electronics devices, including smartphones, digital cameras, smart watches, smart glasses, TVs, and others, employ OLED microdisplays extensively. The market is expanding as a result of consumers' strong adoption of these devices.
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OLED Microdisplay Market Major Players:
1. Sony Corporation
2. LG Display Co., Ltd
3.Samsung Electronics Co., Ltd
4. OSRAM Licht AG
5. Dresden Microdisplay GmbH
6. Kopin Corporation
7. Yunnan OLiGHTEK Opto-Electronic Technology Co., Ltd
8. Himax Technologies, Inc.
9. Holoeye Photonics AG
10. Seiko Epson Corporation
11. Silicon Micro Display Inc
12. eMagin Corporation
13. OmniVision Technologies Inc.
14. MicroVision Inc
15. WINSTAR Display Co., Ltd
16. BOE display
17. MicroOLED SA
18. Semiconductor Solutions
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