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Microdisplays Market.PDF


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DESCRIPTION
Microdisplays market is projected to witness the growth at a CAGR of 18.83% to reach
the total market size of US$2.761 billion by 2022, from US$1.165 billion in 2017.
Microdisplays are small displays made of a CMOS chip and require magnifying optics to
use them. They are used in devices such as mobile phones, digital wrist watches, and
virtual reality headsets among others and have application in industries like military,
medical, automotive, industrial, and commercial. The major factor contributing to the
growth of microdisplays market is the increasing usage of these displays in consumer
electronics, and military and defense. However, high manufacturing costs associated
with microdisplays will hinder the market growth during the forecast period. Growing
global digital signage industry will bolster the demand for microdisplays in the coming
years.
By Technology
By technology, the LCD segment held the largest market share in 2016 and will continue
its dominance till 2022. This growth is majorly attributed to various applications of LCD
technology such as computers, digital signage, and cockpit displays. OLED technology
will witness the fastest market growth during the forecast period owing to its
increasing demand for smaller and lighter HMDs.
By Geography
Geographically, North America held the largest global microdisplays market share in
2016 owing to the presence of large number of global key players in the region. End-use
industries in developed economies such as the U.S. and Canada are increasingly using
microdisplays for various applications. APAC region will witness the fastest regional
market growth during the forecast period due to increasing demand for digital signage
in retail sector along with the growing applications of microdisplays in the healthcare
sector in the region.
Competitive Insights
Prominent key market players in global microdisplays market include Jasper Display
Corp, Himax Display, eMagin, MicroVision, and LG Display among others. At present,
Microdisplays Market – Forecasts from 2017 to 2022