Rising needs for ensuring driver safety and driver assistant tools in the automotive sector to drive the adoptions of microdisplays whose market is forecasted to grow at a CAGR of 21.7%
Published Date : 07/07/2017
According to a new market research study titled 'Microdisplay Market to 2025 - Global Analysis and Forecasts by technology, application and Industry verticals', the global microdisplay market was valued at US$ 845.3 Mn in 2016 and is estimated to reach US$ 4892.3 Mn by 2025. The report highlights the trends prevalent in the global microdisplay market and the factors driving the market along with those that act as deterrents to its growth.
The recent surge in the use of AR VR devices, demand for compact display sizes with less power consumption capabilities are a few factors that are bolstering the market growth for microdisplays well as the increasing adoption of those products in military & defense as well as automotive industry sectors. Progresses in numerous technologies related to projection displays and near-to-eye displays have led to significant interest in the microdisplay arena.
Automotive sector has witnessed large developments in the last decade. Consumer safety and ease of driving it has been put forth as the prime factors while designing any automobile by the manufacturers. Earlier, helmet-mounted CRTs used to deliver images to an individual viewer based on magnifying optics principle. These devices were used by a pilot in the aircraft and used to be confined to a cockpit. A dire need of a more compact sized displays having less power consumptions and higher resolutions became the need of hour and manufacturers came up with microdisplays satisfying all the above stated needs. HUDs integrated into the automobiles enable driving assistance to the drivers where they display real-time traffic information with the map towards destination. The displays alert drivers of any obstacle on the road pre handedly where mishaps can be avoided.
The global microdisplay market has been segmented on the basis of technology into Liquid Crystal Display (LCD), Liquid Crystal on Silicon (LCoS), Digital Light Processing (DLP) and Organic Light Emitting Diode (OLED). Microdisplays find their applications into two broad categories named as Near-to-eye applications and Projection applications. Electronic View Finders (EVF), Heads-Up Displays (HUDs) and Head Mounted Displays (HMDs) constitute the near-to-eye applications while Embedded Mobile and PICO projectors constitute the Projection applications. Apart from these, microdisplays have been segmented on the basis of industry verticals into Military &Defense, Healthcare, Automotive, Consumer Electronics, Law Enforcement and Others. Geographically, the global microdisplay market is segmented into North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA) and South America (SAM).
The automotive industry is expected to witness a rapid growth and drive the growth of microdisplays market. Players having a good hold over the microdisplays market can look to venture into providing solutions for the automotive industry which is expected to be the most rapidly developing vertical. The key players profiled in the report are eMagin, Inc., SONY Corporation, Texas Instruments Incorporated, Universal Display Corporation and Kopin Corporation, Inc. Also, AU Optics Corporation, Himax Technologies Inc., MicroVision Inc. and Syndiant.
Global Microdisplay Market Breakdown by Regions, 2016 (%)
Source: The Insight Partners Analysis
The report segments the global microdisplay market as follows:
Global Microdisplay Market - By Technology
LCD (Liquid Crystal Display)
LCoS (Liquid Crystal on Semiconductor)
DLP (Digital Light Processing)
OLED (Organic Light Emitting Diode)
Global Microdisplay Market - By Application
Electronic View Finder
HUD (Head-Up Display)
HMD (Head Mounted Display)
Global Microdisplay Market - By Industry Verticals
Military and Defense
Global Microdisplay Market - By Geography
Asia Pacific (APAC)
Middle East & Africa (MEA)
South America (SAM)