The global market for microdisplay is projected to have considerable CAGR of around 30.5% during the forecast period. The major factor that propels the market growth include the growing application of microdisplays in consumer electronics industry. Consumer electronics comprises smartphones, tablets, wearable devices, televisions, and others. Advancements in technology and its adoption across the wide range of consumer electronics have evolved rapidly in recent years.The recent development in organic and inorganic based electronics proceeds on a flexible substrate provides benefits in terms of being able to develop displays thinner, lighter for smartphone and wearables such as smart watches. Currently, consumer electronics products mainly use organic light-emitting diode (OLED), liquid crystal display (LCD), liquid crystal on silicon (LCOS), and digital light processing (DLP) is emerging as a more advanced possible future replacement. Therefore increasing application of microdisplays in consumer electronics further provide significant opportunity to the market.
Browse the full report description of "Global Microdisplay Market Size, Share & Trends Analysis Report by Type (Projectors, Near-to-Eye (NTE) Display, and Others), By Technology (OLED, LCD, LCOS, DLP, and Others), By End-User Industry (Automotive, Consumer Electronics, Military & Defence, Industrial, and Others) and Forecast 2020-2026" at https://www.omrglobal.com/industry-reports/microdisplay-market
Moreover, growing application of OLED microdisplays in various application such as head mounted displays and EVFs further provide significant growth to the microdisplay market. OLED microdisplay is an emerging technology that offers efficient and beautiful displays and lighting panels. OLED display can be referred to as the next-generation of these panels that can be bendable and flexible. An OLED are relied on a flexible substrate, either metal, plastic or flexible glass. These panels based on plastic and metals are thin, highly durable and lightweight as well as unbreakable. Due to rise for innovations in OLED displays and considerable awareness for technologically advanced consumer electronics products, such as smartphones, smart gadgets and so on is expected to fuel the adoption of OLED microdisplays. Therefore the growing adoption of OLED microdisplays in consumer electronics further contribute to the market growth.
The growing application of microdisplays in automotive industries further propels the market growth during the forecast period. With the ever-increasing demand in urban mobility and modern logistics sector, the vehicle population has been steadily growing over the past few decades. At present, it has led the way with the high-tech extravaganza showcasing dozens of autonomous or self-driven vehicles. The modern automobile giants are coming up with newer self-driving features in their latest models. Technological developments are not confined to just communication, information technology, and data analysis; the realm of self-driving cars is also making progress at a brisk speed nowadays. The ADAS head mounted microdisplay improve driver safety, it assists the car to gather information about the outside world. Head up displays are already finding their way into cars equipped with ADAS capabilities, such as blind-spot detection, gesture recognition, collision avoidance, backup cameras, lane-departure warnings, and adaptive cruise control that adjusts to changing traffic conditions.
Global Microdisplay Market Segmentation
By Type
By Technology
By End-user Industry
Global Microdisplay Market – Segment by Region
North America
Europe
Asia-Pacific
Rest of the World
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