The Microdisplay Market Overview Report
Microdisplays support hands-free eye-controlled operations in AR and VR applications and increase situational awareness with enough resolution and brightness to ensure their use in sunlight, as well as during the nighttime.
The compact size
of microdisplays, their low power consumption, and high brightness make them a
key component of several products, such as wearable devices, HMD systems, HUD
systems, miniature data projectors, and cameras/electronic viewfinders (EVFs).
Applications of microdisplays in consumer electronics, commercial, military,
aerospace, industrial, medical, and automotive sectors have fueled the growth
of the microdisplay market across the world.
The medical
segment of the microdisplay market is projected to grow at the highest CAGR during
the forecast period owing to an increase in the number of
COVID-19 patients across the world. Severalmicrodisplay players have started
targeting the medical sector to cater to the growing requirement of
microdisplays in healthcare equipment. For instance, eMargin has started focusing on partnerships with innovative
developers and manufacturers of diagnostic and ophthalmic surgical equipment
for the development of next-generation diagnostic equipment with improved
displays. This equipment is being developed to cater to the growing demand for
enhanced displays in the medical sector in the wake of the increasing cases of
COVID-19.
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Moreover, the outbreak of
the COVID-19 pandemic has abruptly generated the increased requirement of adequate
healthcare facilities to treat an exponentially growing number of infected
patients worldwide. Most of the economies of the world at present are focusing
on expanding their healthcare facilities. This, in turn, is expected to fuel
the growth of the medical segment of the microdisplay market during the
forecast period.
APAC is expected to witness
the highest demand for microdisplays owing to the presence of several
microdisplay manufacturers and a large customer base in the region. The development of the next-generation
microdisplay technology—micro-LED—is expected to offer significant
growth opportunities for the microdisplay market in APAC during the forecast
period.
The projectors
and cameras/EVF have been witnessing increased demand, with key players such as
Epson and Sony active in the projector and camera market. However, the
saturation in projector and camera shipments across the world is leading to
their slower growth in the market than other emerging products at present. The
increase in the shipment of projectors and cameras is expected to take place in
the coming years owing to the
accelerating demand for microdisplays to be deployed in HMD and HUD. The
growing use of AR glasses in industrial and enterprise applications for
providing on-the-job training to field workers, warehouse management personnel,
maintenance and inspection staff, etc. creates significant demand for HMD. With
the rise in the AR HMD unit shipments, the AR HMD segment of the market is
projected to grow significantly during the forecast period.
With the
flourishing market for ADAS, the automotive sector is witnessing a surging
demand for HUD. AR HMD and HUD are used in aircraft and vehicles, as well as in
the training environments. The military, defense & aerospace sector is expected to witness the rising demand for
microdisplay-based AR HMD and HUD in the near
future. Moreover, with the development of microdisplays for VR HMD, the
military, defense, and aerospace sector are expected to be the key adopter of
microdisplay-based VR HMD during the forecast period.
In North
America, consumer, industrial &enterprise, and military, defense, &
aerospace are the key industries wherein microdisplays are increasingly being
used for their integration with most of the commonly used devices such as HMD
and HUD. The US is expected to lead the microdisplay market in North America
during the forecast period owing to the presence of key consumers of
microdisplay-based products such as HMD and HUD in the US.
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