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
[244 Pages Report] The global microdisplay market is projected to grow from USD 1.3 billion in 2024 to USD 3.0 billion by 2029, registering a CAGR of 18.2% during the forecast period. The increasing demand of microdisplays in wearable devices and near-to-eye devices, growing deployment of head-mounted displays in automotive application, rising adoption of head-mounted displays (HMDs) in various sectors, and growing demand for advanced microdisplays such as MicroLED and OLEDoS are the major factors propelling the growth of the microdisplay market. MicroLEDs can propel the microdisplay business by providing higher brightness, contrast, and energy efficiency than standard display technologies. Their ability to provide high resolution and endurance makes them suitable for use in AR/VR headsets, wearables, and automotive head-up displays, pushing the limits of performance and user experience.
Impact of AI/Gen AI on microdisplay market
The major use cases of AI/Gen AI in the microdisplay market include content creation, image processing and quality, user interaction, and personalized recommendations. AI-generated content can enhance the immersive experience and provide highly detailed virtual environments in head-mounted displays by enabling adaptive storytelling and real-time rendering. AI-driven content creation for HMDs enables the construction of immersive and highly detailed virtual environments, which improves applications in gaming, training, and virtual tourism. Image processing and quality enhancement utilize AI algorithms to provide clearer, more colorful graphics, which are critical for compact, high-resolution displays. Furthermore, AI improves user engagement by creating intuitive, responsive interfaces that adapt to user habits and preferences in smartwatches and wearables. Personalized recommendations employ AI to evaluate user data and provide tailored content and suggestions, resulting in increased satisfaction and engagement across various cutting-edge devices.
Attractive opportunities in the microdisplay market
Microdisplay Market Forecast to 2028
To know about the assumptions considered for the study, Request for Free Sample Report
Market Dynamics:
Driver: Growing demand for micro displays in wearable devices
Wearable devices are IoT-enabled devices used for data transfer. Increased global demand for these devices has led to the development of improved and efficient microdisplays for use in them to increase their consumer traction. For instance, in early 2023, Samsung Display initiated a new project to create microLED wearable displays. The company intended to supply these displays to leading wearable manufacturers like Apple and Samsung Electronics. Concurrently, Samsung Electronics has begun developing a microLED-powered Galaxy Watch device, with an anticipated launch targeted for 2025.
Display manufacturers worldwide are also focusing on developing and launching displays for wearable devices such as AR/VR, owing to their growing demand. For instance, in April 2023, AUO Corporation announced its plan to transform its LCD 5A fab located in Taiwan's Longtan District into a microLED production facility. This initiative aims to commence microLED manufacturing by 2025 or 2026, focusing on applications such as wearable displays, automotive displays, TVs, and signage displays.
Restraint: High capital investment and manufacturing costs
Though microdisplays have better performance and utility than conventional direct-view displays such as LCD or OLEDs, there are still multiple manufacturing challenges that require to be addressed to enable cost-effective and high-volume manufacturing of microdisplays. These displays require high-quality components and expensive equipment that increase the manufacturing costs of microdisplays. Though LCD and LCoS microdisplays are economical, OLED and high-end microdisplays are still expensive. The complexity of manufacturing high-quality microdisplays results in significant production costs. For example, the cost of producing Micro-LED displays, a promising microdisplay technology, is currently 10 times higher than that of traditional LED displays, limiting mass-market adoption.
Opportunity: Advancements in Micro LED technology
Advancements in Micro-LED technology represent a significant opportunity for the microdisplay market, presenting significant opportunities across diverse industries. Microdisplays utilize advanced silicon backplanes, and microLED microdisplays can be manufactured using a monolithic process. This method allows LEDs to be directly fabricated on the silicon wafer or transferred to it, which is simpler compared to the TFT-glass transfer process. Micro-LEDs, known for their small size and individual light-emitting diodes, offer superior display characteristics such as enhanced brightness, energy efficiency, faster response times, and extended lifespans compared to traditional LCDs and OLEDs. These attributes position Micro-LEDs as ideal solutions for applications requiring high-resolution displays in compact formats, including augmented reality (AR) glasses, virtual reality (VR) headsets, smartwatches, and automotive displays.
Challenge: Reduction in display latency
One of the primary challenges for manufacturers of NTE (Near-To-Eye) devices and applications lies in delivering displays with low latency. Latency-induced errors often result in image lag, which significantly impacts user experience. In gaming, high input lag can make gameplay feel sluggish and unresponsive. Lower input lag levels are crucial for enabling gamers to enjoy seamless control experiences where screen movements respond instantly to commands. This challenge is particularly critical in sectors like healthcare, aerospace, and defense, where delayed responses can have serious consequences. Despite efforts, all microdisplay-equipped devices inherently face latency thresholds influenced by factors such as content frame rate, display refresh rate, and input lag.
Microdisplay Market Ecosystem
Key companies in this market include well-established, financially stable providers of microdisplay products. These companies have been operating in the market for several years and possess a diversified portfolio of microdisplay which caters to a wide range of applications. Prominent companies in this market include 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.
By Offering, Software segment likely to exhibit the highest CAGR during the forecast period
Advances in technology and the subsequent use of technologies such as the internet of things (IoT), the growing demand for real-time content management, and the expanding use of smart signage have all contributed significantly to the global rise of the microdisplay software market. The advantages of microdisplay software have resulted in a significant growth in its adoption in recent years. Furthermore, the development and popularity of system-on-chip displays has boosted the demand for microdisplay software. Regular software license purchases and updates are expected to have a significant impact on the growth of the microdisplay software industry.
By Application, commercial application is expected to account for largest share between 2024 and 2029.
Microdisplays displays are commonly used in the retail industry due to their capacity to attract customers and improve the customer experience in businesses. Kiosks, video walls, menu boards, automated teller machines (ATMs), billboards, interactive displays, and system-on-chip displays are all examples of digital signage utilized in retail, healthcare, business, broadcasting, hotel, and government sectors. Microdisplay: displays are used in the healthcare sector to display health-related information and stimulate patient participation via interactive kiosks. Wayfinding screens in hospitals and other business settings can also assist reduce hallway traffic. Furthermore, interactive displays are becoming increasingly popular in the retail industry due to the growing demand for enhanced consumer involvement. Furthermore, interactive displays are useful for information distribution and navigation.
By technology, OLED microdisplays to account for the largest market share during the forecast period
The OLED segment of the microdisplay market is predicted to grow significantly throughout the forecasted period. The segment's rise can be ascribed to the rapid acceptance of these displays with enhanced capabilities and their application in HMDS. OLED microdisplays are rapidly being employed in AR-HMDs due to its higher power, faster response times, and wider color palette. Several manufacturers of microdisplays, including Kopin Corporation (US), Samsung Electronics (South Korea), and Yunnan OLIGHTEK Opto-Electronic Technology Co. Ltd. (China), have introduced OLED microdisplays for HMDs.
Higher FHD segment is projected to grow at higher CAGR during forecast period
Higher FHD segment is projected to expand at the highest CAGR during the estimated period. Displays with typical FHD resolution have a horizontal resolution of 1920 pixels and a vertical resolution of 1080 pixels. Fraunhofer-FEP demonstrated a curved OLED microdisplay panel at the 2018 US Society for Information Display (SID). This 1-inch-diameter curved OLED microdisplay has a resolution of 1200 x 1920. The panel was constructed as part of the EU-funded LOMID project.
NTE Devices to register growth at higher CAGR
NTE devices are projected to expand at the highest CAGR between 2024 and 2029. OLED-based microdisplays are increasingly being used in NTE devices because to their higher power efficiency, faster response times, and wider color range. The eMagin Corporation's SVGA+-Rev3-OLED XL- microdisplay is a power-efficient OLED-microdisplay solution for near-eye personal view applications. Because of the presence of major EVF vendors in Japan, Asia-Pacific is expected to continue to have the highest demand for microdisplays for usage in NTE devices during the estimated period.
Asia Pacific likely to hold the largest share of microdisplay market during forecast period
Asia Pacific is expected to dominate the microdisplay market from 2024 to 2029. In addition to the fact that Japan is home to several prominent EVF vendors, Asia Pacific is expected to continue to have the highest demand for microdisplays for usage in NTE devices during the forecast period. The vast majority of camera manufacturers are concentrated in Asia Pacific. Canon Inc., Nikon Corporation, and Sony Group Corporation together account for more than 90% of the camera market. As a result, Japan's demand for microdisplays soars, propelling expansion in the microdisplay sector across the region. Furthermore, Asia Pacific is predicted to account for the majority of the LCD microdisplay market from 2024 to 2029. LCD microdisplays are in high demand in cameras/EVFs and projectors, and the majority of vendors are located in this region.
Microdisplay Market by Region
To know about the assumptions considered for the study, download the pdf brochure
Key Market Players
Sony Group Corporation (Japan), Seiko Epson Corporation (Japan), Kopin Corporation (US), Himax Technologies, Inc.,(Taiwan), SeeYA Technology (China) are some of the key players in the microdisplay companies.
Get online access to the report on the World's First Market Intelligence Cloud
- Easy to Download Historical Data & Forecast Numbers
- Company Analysis Dashboard for high growth potential opportunities
- Research Analyst Access for customization & queries
- Competitor Analysis with Interactive dashboard
- Latest News, Updates & Trend analysis
Request Sample Scope of the Report
Get online access to the report on the World's First Market Intelligence Cloud
- Easy to Download Historical Data & Forecast Numbers
- Company Analysis Dashboard for high growth potential opportunities
- Research Analyst Access for customization & queries
- Competitor Analysis with Interactive dashboard
- Latest News, Updates & Trend analysis
|
Report Metric |
Details |
|
Market Size Availability for Years |
2020–2029 |
|
Base Year |
2023 |
|
Forecast Period |
2024–2029 |
|
Forecast Units |
Value (USD Million) |
|
Segments Covered |
By Product, Technology, Resolution, Brightness, Industry, and Region |
|
Geographies Covered |
North America, Europe, Asia Pacific, and Rest of the World |
|
Companies Covered |
Seiko Epson Corporation (Japan), SeeYA Technology (China), Sony Group Corporation (Japan), Kopin Corporation (US), Himax Technologies, Inc. (Taiwan), and HOLOEYE Photonics AG (Germany), eMagin Corporation (US), WiseChip Semiconductor Inc. (Taiwan), Raystar Optronics (Taiwan), WINSTAR Display Co., Ltd. (Taiwan) 25 companies profiled |
Microdisplay Market Highlights
|
Segment |
Subsegment |
|
By Product |
|
|
By Resolution and Brightness |
|
|
By Vertical |
|
|
By Technology |
|
|
By Geography |
|
Recent Developments
- In April 2024, Kopin Corporation increased its customer base by winning the third production order for their Organic Light-Emitting Diode (OLED) microdisplays. These screens will be used in the Indian Army's mounted and handheld thermal imaging vision systems. According to the terms of the most recent production order, which comprises approximately 1,200 units, deliveries will take place over a six-month period.
- In February 2024, -Kopin Corporation received a new Small Business Innovation Research (SBIR) contract from the Naval Air Warfare Center. Under this contract, Kopin will use its over 30-years of experience in US-based microdisplay research to produce superior microdisplays for lens less computational imaging.
- In August 2023, Sony Semiconductor Solutions Corporation (SSS) launched the ECX344A, high-definition 1.3-type OLED microdisplay with 4K resolution that is intended to give more realistic space recreations which are designed specifically for AR/VR applications.
- In January 2023, Seiko Epson and Universal Display entered into an agreement for researching OLEDs. Universal Display will provide Epson with its unique phosphorescent OLED materials and technology for AR/VR (augmented reality/virtual reality) display applications under the terms of the agreement.
Frequently Asked Questions (FAQ’s):
What is the current size of the global microdisplay market?
Companies such as Sony Group Corporation, Seiko Epson Corporation, Kopin Corporation, SeeYA Technology, and Himax Technologies, Inc.
Who are the global isostatic pressing market winners?
Companies such as KOBE STEEL, LTD., Bodycote, Kennametal, Inc., Nikkiso., Ltd., DORST Technologies GmbH & Co. KG, American Isostatic Presses, Inc. fall under the winners’ category.
Which region is expected to hold the highest market share?
Asia Pacific is forecasted to dominate the microdisplay market between 2024 and 2029. The presence of established microdisplay component providers and burgeoning automotive sector are the major factors contributing to the market growth in Asia Pacific.
What are the major drivers and opportunities related to the microdisplay market?
Growing deployment of OLED microdisplays in commercial applications, increasing usage of microdisplay in HUDs for automotive applications, and technological advancements related to displays such as MicroLED are some of the major drivers and opportunities related to the microdisplay market.
What are the major strategies adopted by market players?
The key players have adopted product launches, acquisitions, and partnerships to strengthen their position in the microdisplay market.
To speak to our analyst for a discussion on the above findings, click Speak to Analyst
The study involved four major activities in estimating the microdisplay market size. Exhaustive secondary research has been carried out to collect information on the market, the peer markets, and the parent market. Both top-down and bottom-up approaches have been employed to estimate the total market size. Market breakdown and data triangulation methods have also been used to estimate the market for segments and subsegments.
Secondary Research
In the secondary research process, various secondary sources have been referred to for identifying and collecting information relevant to this study on the microdisplay market. The secondary sources included the Consumer Technology Association (CES), Integrated Systems Europe, and Camera & Imaging Products Association (CIPA)); white papers, display-based marketing-related journals, certified publications, and articles by recognized authors; gold and silver standard websites; directories; and databases, annual reports, press releases, and investor presentations of companies.
The global size of the microdisplay market has been obtained from the secondary data available through paid and unpaid sources. It has also been determined by analyzing the product portfolios of the leading companies and rating them based on the quality of their offerings.
Secondary research has been used to gather key information about the industry's supply chain, the market’s monetary chain, the total number of key players, and market segmentation according to the industry trends to the bottom-most level, geographic markets, and key developments from both the market- and technology-oriented perspectives. It has also been conducted to identify and analyze the industry trends and key developments undertaken from both the market- and technology perspectives.
Primary Research
In the primary research process, various primary sources have been interviewed to obtain qualitative and quantitative information about the market across four main regions—Asia Pacific, North America, Europe, and the Rest of the World (the Middle East & Africa, and South America). Primary sources from the supply side include industry experts such as CEOs, vice presidents, marketing directors, technology directors, and other related key executives from major companies and organizations operating in the microdisplay market or related markets.
After completing market engineering, primary research was conducted to gather information and verify and validate critical numbers from other sources. Primary research has also been conducted to identify various market segments; industry trends; key players; competitive landscape; and key market dynamics, such as drivers, restraints, opportunities, and challenges, along with key strategies adopted by market players. Most primary interviews have been conducted with the market's supply side. This primary data has been collected through questionnaires, emails, and telephonic interviews.
To know about the assumptions considered for the study, download the pdf brochure
Market Size Estimation
In the complete engineering process, both top-down and bottom-up approaches and several data triangulation methods have been used to estimate and validate the size of the overall microdisplay market and other dependent submarkets. Key players in the market have been identified through secondary research, and their market positions in the respective geographies have been determined through both primary and secondary research. This entire procedure includes studying top market players’ annual and financial reports and extensive interviews with industry leaders such as CEOs, VPs, directors, and marketing executives for key insights (qualitative and quantitative).
All percentage shares and breakdowns have been determined using secondary sources and verified through primary sources. All the possible parameters that affect the markets covered in this research study have been accounted for, viewed in detail, verified through primary research, and analyzed to obtain the final quantitative and qualitative data. This data has been consolidated and supplemented with detailed inputs and analysis from MarketsandMarkets and presented in this report.
Global Microdisplay Market Size: Bottom-Up Approach
Global Microdisplay Market Size: Top-Down Approach
Data Triangulation
After arriving at the overall market size from the estimation process explained above, the overall market has been split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments, the market breakdown and data triangulation procedures have been employed, wherever applicable. Data has been triangulated by studying various factors and trends from both the demand and supply sides. Along with this, the market size has been validated using top-down and bottom-up approaches.
Market Definition
Microdisplays are microminiaturized displays with a diagonal screen size of less than 2 inch. They are manufactured using 4 key technologies—OLED, LCD, LCoS, MicroLED, and DLP. The small size, high resolution, and low power consumption of these displays make them ideal for use in head-mounted displays (HMDs), head-up displays (HUDs), electronic viewfinders (EVFs), and several other devices.
Key Stakeholders
- Raw material suppliers
- Brand Product Manufacturers/Original Equipment Manufacturers (OEMs)/Original Device Manufacturers (ODMs)
- Microdisplay Product Manufacturers
- Microdisplay Panel Manufacturers
- Semiconductor Component Suppliers/Foundries
- Manufacturing Equipment Suppliers
- Research organizations
- Technology investors
- Distributors and resellers
- Analysts and strategic business planners
- Government bodies, venture capitalists, and private equity firms
- End users
Report Objectives
- To define, describe, estimate, and forecast the microdisplay market, in terms of value, on the basis of product, technology, resolution, brightness, and industry.
- To define, analyze and forecast the microdisplay market size, by product, in terms of volume
- To forecast the market size of concerned segments with respect to 4 main regions—North America, Europe, Asia Pacific (APAC), and the Rest of the World (RoW)
- To provide a detailed information regarding the major drivers, restraints, opportunities, and challenges influencing the growth of the market
- To analyze micromarkets with respect to individual growth trends, prospects, and contribution to the overall market
- To analyze the value chain, market ecosystem; trends/disruptions impacting customer’s business; technology analysis; pricing analysis; Porter’s five forces model; key stakeholders & buying criteria; case study analysis; trade analysis; patent analysis; key conferences & events, 2024–2025; regulations related to the microdisplay market; and investment and funding scenario.
- To profile key players and comprehensively analyze their market ranks and core competencies, along with detailing the competitive landscape for market leaders
- To benchmark players within the market using the proprietary Company Evaluation Matrix framework, which analyzes market players on various parameters within the broad categories of market rank and product offering
- To track and analyze competitive developments such as product launches and acquisitions, and research and development (R&D) activities in the microdisplay market
- To analyze the opportunities in the market for stakeholders and provide details of the competitive landscape to the market leaders
Available customizations:
With the given market data, MarketsandMarkets offers customizations according to the specific requirements of companies. The following customization options are available for the report:
- Detailed analysis and profiling of additional market players (up to 5 players) based on various blocks of the supply chain
Generating Response ...
Growth opportunities and latent adjacency in Microdisplay Market
I want more details on the end-use application section of Microdisplay Market.
I am specifically interested in OLED technology market by product and region, is this covered in the report?
Looking for information relating specifically to near to eye device like Electronic viewfinder (EVF)/Camera and HMD. Overall market value and major players into this business.
Our company is interested in know more about microdisplay applications in industrial application, can you provide a dedicated study on this application.