Microdisplays Market Forecast Report 2024-2029: Global Assessment By Product, Technology, Resolution, Brightness, Industry, And Region

(MENAFN- GlobeNewsWire - Nasdaq) Dublin, Sept. 04, 2024 (GLOBE NEWSWIRE) -- The "Microdisplay Market by Product (NTE Devices, HUDs, Projectors), Technology (OLED, LCoS, MicroLED), Vertical (Consumer, Industrial and Enterprise, Automotive, Retail & Hospitality, Medical), Resolution and Brightness & Region - Global Forecast to 2029" report has been added to ResearchAndMarkets.com's offering.
The global microdisplay market is projected to grow from USD 1.3 billion in 2024 to USD 3 billion by 2029, registering a CAGR of 18.2% during the forecast period. The microdisplay market's OLED segment is predicted to increase significantly. The increasing adoption of these advanced displays and their use in HMDs can be linked to the segment's growth. Furthermore, increasing demand for AR devices in the healthcare sector, as well as increasing demand for microdisplays in wearables, are driving market expansion.

The NTE devices is projected to grow at a significant growth rate during the forecast period
NTE Devices is predicted to have the highest CAGR over the projection period. OLED-based microdisplays are rapidly being employed in NTE devices due to their better efficiency, fast reaction time, and enhanced color range. The SVGA+ Rev3 OLED-XL microdisplay from eMagin Corporation is a power-efficient OLED display system designed for near-eye personal viewer applications. Due to the presence of leading EVF vendors in Japan, Asia Pacific is projected to continue to have the highest demand for microdisplays to be used in NTE devices during the forecast period.
Higher than FHD segment is likely to expand at the highest CAGR between 2024 and 2029
The market for higher than FHD is expected to expand at a faster CAGR over the forecast period. A FHD resolution is 1,920 pixels horizontally and 1,080 pixels vertically on displays. For instance, in August 2023, Sony Semiconductor Solutions Corporation (SSS) introduced the ECX344A, high-definition 1.3-type OLED Microdisplay with 4K resolution for AR/VR applications that will help to recreate places more realistically.
North America is likely to exhibit second-highest CAGR in the global microdisplay market during the forecast period
Between 2024 and 2029, North America is likely to expand with the second-highest CAGR owing to the availability of advanced technologies like augmented reality (AR)/Virtual reality (VR) head-mounted displays (HMD), which has led to the increase in demand for microdisplay in region. Consequently, they are now being employed in a wide range of AR and VR applications across diverse fields including consumer, aerospace and defense, industrial as well as healthcare sector; where they primarily serve training simulation and maintenance purposes.

Additionally, projectors based on microdisplays have received extensive acceptance within business and corporate levels for advertisements and presentations purposes. Some producers of microdisplays based in North America include Kopin Corporation (US), Liteye (US), OMNIVISION (US) as well as MicroVision (US).

Research Coverage
The report segments the microdisplay market and forecasts its size, by value, based on product, technology, resolution, brightness, industry, and region (North America, Europe, Asia Pacific, and the Rest of the World). The report also comprehensively reviews market drivers, restraints, opportunities, and challenges in the microdisplay market. The report also covers qualitative aspects in addition to the quantitative aspects of these markets.

The major companies in the microdisplay market are Seiko Epson Corporation (Japan), SeeYA Technology (China), Sony Group Corporation (Japan), Kopin Corporation (US), Himax Technologies, Inc. (Taiwan), and HOLOEYE Photonics AG (Germany) among others.

Key Attributes

Report Attribute	Details
No. of Pages	245
Forecast Period	2024-2029
Estimated Market Value (USD) in 2024	$1.3 Billion
Forecasted Market Value (USD) by 2029	$3 Billion
Compound Annual Growth Rate	18.2%
Regions Covered	Global

Market Dynamics

• Drivers
  • Growing Demand for Microdisplays in Wearable Devices
  • Technological Advancements in Microdisplays
  • Growing Popularity of AR Devices in Healthcare Sector
  • Growing Adoption of HMDs in Various Verticals
  • Rising Popularity of OLED Microdisplays for Increased Brightness and Efficiency
  • Emerging Applications in Military, Defense, and Aerospace
• Restraints
  • Saturation of Markets for Digital Cameras and Projectors
  • High Capital Investment and Manufacturing Costs
• Opportunities
  • Advancements in MicroLED Technology
  • Rising Demand for Medical Displays
  • Presence of Leading Microdisplay Manufacturers in Asia-Pacific
• Challenges
  • Stringent Regulations, Particularly in Medical and Automotive Applications
  • Reduction in Display Latency

Technology Analysis

• Key Technologies
  • MicroLED
  • LCoS
• Complementary Technology
  • Touchscreen Technology
• Adjacent Technology
  • AR/VR

Impact of AI/Gen AI

• Top Use Cases
  • AI-Powered Head-Up Displays in Automotive
  • Smart Glasses with AI Assistants
  • Enhanced and Personalized Content Creation with Gen AI in AR/VR Applications

Case Studies of Implementation of AI/Gen AI

• Meta Enhances Ray-Ban Smart Glasses with Integrated AI Assistant
• Panasonic Automotive Systems of America Introduces AR HUDs Integrated with AI

Interconnected Adjacent Ecosystems Working on AI/Gen AI and Their Impact on Microdisplay Market

• Semiconductor Industry
• Software Development Ecosystem

Trade Analysis

• Import Scenario (HS Code 8537)
• Export Scenario (HS Code 8537)

Case Studies, by Vertical

• Microdisplays for Consumers
• Microdisplays for Aerospace
• Microdisplays for Healthcare
• Microdisplays for Military and Defense
• OLED Microdisplay
• Advanced Prism Subsystem
• Microdisplays in Automotive
• Microdisplays in Sports & Entertainment

Pricing Analysis

• Average Selling Price Trend of Key Players, by Technology
• Average Selling Price Trend, by Region

Regulatory Landscape

• Regulatory Bodies, Government Agencies, and Other Organizations
• Standards and Regulations
• Regulations
• Standards

Companies Featured

• Sony Group Corporation
• Seiko Epson Corporation
• SeeYA Technology
• Kopin Corporation
• eMagin
• Himax Technologies, Inc.
• HOLOEYE Photonics AG
• Wisechip Semiconductor Inc.
• Raystar Optronics, Inc.
• Winstar Display Co. Ltd.
• Yunnan Olightek Opto-Electronic Technology Co. Ltd.
• Omnivision
• Syndiant
• MicroOLED Technologies
• VueReal
• MicroVision
• JBD
• BOE Technology Group Co. Ltd.
• Raontech
• Silicon Micro Display
• (Shenzhen Anpo Intelligence Technology Co. Ltd.)
• Mojo Vision
• Cinoptics
• Lumiode
• Playnitride Inc.

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Attachment

• Microdisplay Market

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