Micro Displays Market Size to Reach USD 9.50 Billion in 2028 | Increasing Demand for Thin and More Efficient Displays Comprising OLED Materials is Driving industry Growth, says Emergen Research
Vancouver, British Columbia, April 19, 2021 (GLOBE NEWSWIRE) — The global micro displays market size is expected to reach USD 9.50 Billion at a steady CAGR of 38.2% in 2028, according to latest analysis by Emergen Research. Key factors driving market revenue growth include increase in demand for miniature and portable devices and rising demand for Head-Up Display (HUD) and Head Mounted Display (HMD). Micro displays are used in head-mounted displays, rear-projection televisions, data projectors, near-to-eye devices, and viewfinders in digital cameras.
Increase in application of micro displays in wearable devices is also positively impacting growth of the market. In May 2019, Korean company, RaonTech, which provides micro-display solutions for augmented and virtual reality devices, announced development of a 0.37-inch micro display with full HD resolution based on LCoS technology. The display is developed for wearable devices including HUD and HMD.
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Micro displays are used in military & defense for faster performance and real-time monitoring. High demand for rugged micro displays for application in defense is due to integration of thermal imaging into man-portable soldier systems. Thermal imaging improves performance and offers advantages to soldiers during battlefield operations and surveillance missions. A high-resolution microdisplay is required to preserve information gathered by sensors and comply with the requirement for low power and lightweight, while being exposed to extreme military environments and conditions.
Some Key Highlights From the Report
- Key players in the market include Seiko Epson, Sony Corporation, Kopin Corporation, Himax Technologies, Holoeye Photonics, Winstar Display, Wisechip Semiconductor, LG Display Co. Ltd., Yunnan Olightek Opto-Electronic Technology Co., Ltd., and Microtips Technology, LLC.
- In January 2021, Kopin Corporation, which is a developer and provider of high-resolution micro displays for industrial, defense, consumer, enterprise, and medical products, announced its multi-year agreement with Jade Bird Display for the development of superbright monochrome LED micro displays. Under the collaboration, Jade Bird Display will provide hybrid bonding service and LED wafers on Kopin-designed and supplied Si backplane wafers for monolithic 2K x 2K LED micro displays.
- Head-mounted displays have gained traction after boom of augmented reality and virtual reality applications in recent years. These are used in combat aircraft and display situational awareness of that moment, and combatant-pilot can control weapons according to head pointing or gesturing. Head-mounted displays are also used by terrestrial guardians and special combatants of special forces of different countries. Market players offer multiple micro-displays to increase resolution and improve field of view.
- Liquid crystal displays are most commonly used in micro displays. LCDs operate at low voltage, offer high resolution, consume less power, and give high contrast in bright light. Increasing usage of LCD micro displays in head-mounted displays, head-up displays, and electronic viewfinders is expected to continue to drive revenue growth of this segment.
- Micro displays in automotive are used in driver assistance features and multimedia & navigation applications to improve drive-to-vehicle communication. Increasing demand for in-vehicle comfort and convenience will continue to drive revenue growth of this segment going ahead. In January 2020, Visteon Corporation announced launch of its microZone display technology that provides higher graphics performance than traditional LCD displays. The new patent-pending technology provides high brightness and contrast and wide range of colors.
- Increase in demand for micro displays from automotive, consumer, military, and industrial industries and sectors in Asia Pacific is expected to continue to support growth of the market in the region. Companies such as Japan, China, Taiwan, and India are among the key manufacturers and adopters of this technology, and this will continue to drive growth of the market in the region.
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Emergen Research has segmented the global micro displays market on the basis of product, technology, resolution, brightness, industry, and region:
- Product Component Outlook (Revenue, USD Million; 2018–2028)
- Near-to-Eye (NTE) Devices
- Head-mounted display (HMD)
- AR HMD
- VR HMD
- Electronic Viewfinder (EVF)/Camera
- Head-mounted display (HMD)
- Head-up display (HUD)
- Pico Projector
- Data Projector
- Rifle Scopes
- Medical Equipment Monocular
- Binocular Systems
- Thermal Imaging Glasses
- Near-to-Eye (NTE) Devices
- Technology Outlook (Revenue, USD Million; 2018–2028)
- Liquid crystal display (LCD)
- Liquid crystal on silicon (LCoS)
- Organic light-emitting diode (OLED)
- Digital light processing (DLP)
- Resolution Outlook (Revenue, USD Million; 2018–2028)
- Lower than HD
- Higher than FHD
- Brightness Outlook (Revenue, USD Million; 2018–2028)
- Less than 500 NITS
- 500 To 1000 NITS
- More than 1000 NITS
- Industry Outlook (Revenue, USD Million; 2018–2028)
- Military, Defense, and Aerospace
- Industrial & Enterprise
- Sports & Entertainment
- Retail & Hospitality
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- Regional Outlook (Revenue, USD Million; 2018–2028)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- Rest Of MEA
- North America
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About Emergen Research
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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