Report Ocean recently released a research report on the Microdisplays Market, which covers the market’s historical growth, cost structure, revenue, trends, and potential prospects for the period 2023-2031. The report provides an extensive coverage of the market across various categories and includes a detailed analysis at the national level, along with an evaluation of the key drivers, restraints, trends, and opportunities in the market.
The global microdisplays market size was US$ 705 million in 2020. The global microdisplays market is forecast to reach the value of US$ 3756 million by 2030 by growing at a compound annual growth rate (CAGR) of 35.2% during the forecast period from 2021-2030.
The microdisplays are compact and small size displays that need magnifying optics. A microdisplay size is generally less than two inches diagonal.
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Covid-19 Impact Analysis
The COVID-19 outbreak had adversely disrupted the trade of electronics and automotive. Moreover, raw materials were unavailable during the pandemic because of bans on import-export activities. Thus, it disrupted the production activities. Many R&D activities were stopped or postponed for a longer time than expected. As a result, it created a major loss in the global microdisplays market. On the contrary, the market witnessed a significant demand for microdisplays from the healthcare industry. Microdisplays are used in CT scans and other medical activities. Thus, in the medical sector, the market witnessed significant recovery.
Factors Influencing
- The growing demand for advanced driver-assistance systems (ADAS), mainly for passenger and commercial vehicles, is the primary factor driving the growth of the global microdisplays market.
- The growing adoption of advanced microdisplays due to their size and quality is forecast to create favorable opportunities for the market players.
- Benefits, such as high resolution and excellent picture quality, may fuel the market growth during the forecast period.
- Growing demand for Near-To-Eye (NTE) Applications may generate considerable demand from the end-users. The increasing demand for augmented reality devices, including smart glasses and head-mounted displays, may propel market growth. High-resolution microdisplays are integrated with the magnifying optical system and used in sectors such as military & defense, consumer electronics, and medical applications. Thus, the market would grow in these sectors.
- The high manufacturing cost associated with the microdisplays is forecast to hamper the growth of the overall market.
- The COVID-19 pandemic surged the demand for microdisplays, mainly in the healthcare sector. The device is used for CT scans, ECG machines, oxygen meters, etc. Thus, the advancements in the healthcare sector are forecast to fuel the growth of the global microdisplays market.
Geographic Overview
Regionally, the Asia-pacific region holds the dominant position in the global microdisplays market. It is due to the presence of a high number of microdisplays manufacturers contributing to revenue generation. Moreover, the increasing demand for ADAS, mainly from the automobile sector, may create lucrative opportunities for the market players. In addition, North America is forecast to register rapid growth because of the growing adoption of ICT technologies in the educational sector. Apart from that, the rising acceptance of microdisplays devices in the defense and aerospace sector is forecast to increase the regional contribution in the global market.
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Competitors In The Market
- Sony Corporation
- Seiko Epson Corporation
- eMagin
- Kopin Corporation
- Yunnan OLiGHTEK Opto-Electronic Technology Ltd
- Himax Technologies, Inc.
- Syndiant
- UNIVERSAL DISPLAY
- AU Optronics Corp.
- Micron Technology, Inc.
- Other prominent players
Market Segmentation
By Product:
Near-to-Eye (NTE) Devices
Electronic Viewfinder (EVF)/Camera
HMD
AR HMD
VR HMD
HUD
Projector Pico Projector
Data Projector
Others (Monocular and Binocular Systems, Rifle Scopes, Thermal Imaging Glasses, and Medical Equipment)
By Technology:
- LCD
- LCoS
- OLED
- DLP
By Resolution:
- Lower than HD
- HD
- FHD
- Higher than FHD
By Brightness:
- Less than 500 Nits
- 500 to 1,000 Nits
- More than 1,000 Nits
By Industry:
- Consumer
- Industrial & Enterprise
- Automotive
- Military, Defense, and Aerospace
- Sports & Entertainment
- Retail & Hospitality
- Medical
- Education
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By Region
- North America
- The U.S.
- Canada
- Mexico
- Europe
- Western Europe
- The UK
- Germany
- France
- Italy
- Spain
- Rest of Western Europe
- Eastern Europe
- Poland
- Russia
- Rest of Eastern Europe
- Asia Pacific
- China
- India
- Japan
- Australia & New Zealand
- ASEAN
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- UAE
- Saudi Arabia
- South Africa
- Rest of MEA
- South America
- Brazil
- Argentina
- Rest of South America
Table of Content
Chapter 1: Global Microdisplays Industry Overview
Chapter 3: Market Dynamics
Chapter 4: Top Company Profiles
Chapter 5: Global Microdisplays market Competition, by Players
Chapter 6: Global Market Size by Regions
Chapter 7: Global Market Segment by Application
Chapter 8: Global Microdisplays Industry Segment by Type
Chapter 9: Market Chain, Sourcing Strategy, and Downstream Buyers
Chapter 10: Strategies and key policies by Distributors/Suppliers/Traders
Chapter 11: Key Marketing Strategy Analysis, by Market Vendors
Chapter 12: Market Effect Factors Analysis
Chapter 13: Global Microdisplays market Size Forecast (2023-2031).
Continue….
Reasons to Buy This Report
(A) The research provides valuable insights for top administration, policymakers, professionals, product advancements, sales managers, and stakeholders in the market. It helps them make informed decisions and strategize effectively.
(B) The report offers comprehensive analysis of Microdisplays market revenues on a global, regional, and country level, projecting trends until 2031. This data allows companies to assess their market share, identify growth opportunities, and explore new markets.
(C) The research includes segmentation of the Microdisplays market based on types, applications, technologies, and end-uses. This segmentation enables leaders to plan their products and allocate resources based on the expected growth rates of each segment.
(D) Analysis of the Microdisplays market benefits investors by providing insights into market scope, position, key drivers, challenges, restraints, expansion opportunities, and potential threats. This information helps them make informed investment decisions.
(E) The report offers a detailed analysis of competitors, their key strategies, and market positioning. This knowledge allows businesses to better understand the competition and plan their own strategies accordingly.
(F) The study helps evaluate Microdisplays business predictions by region, key countries, and top companies, providing valuable information for investment planning and decision-making.
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