The global OLED microdisplay market will grow to more than USD 2,200 Mn by 2023 up from USD 654.4 Mn in 2017 reports Market Research Future (MRFR).
The OLED microdisplay market is poised to grow at 23.4% CAGR during the assessment period (2018-2023). OLED is a high advanced display technology that is witnessing a tremendous uptake in various electronic segments, which include TVs, laptops, smartwatch, smartphones etc.
OLED microdisplays is an emerging technology that holds tremendous application potential. The rising trend of device miniaturization is paving the way for OLDE microdisplays. Superior functionalities of these displays drive their adoption in verticals such as smartwatch, smartphones etc. OLED is touted to replace LCD and LED in the years to come owing to low-power consumption. Microdiplays are increasingly used in head-up display, near-to-eye devices, projectors and head-mounted displays. However, microdisplay technology remain at nascent stage, which creates significant hurdles in areas such as mass manufacturing, product customization, and compatibility. In forthcoming years, sectors such as automotive, aerospace, and medical are expected to present attractive market opportunities.
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Global OLED Microdisplay Market: Segmental Analysis
MRFR’s report includes a detailed segmental analysis of the market based on resolution, product, vertical and region.
On the basis of resolution, the OLED Microdisplay Market Growth COVID-19 Impact Analysis has been segmented into full HD, HD and others. On the basis of product, the market has been segmented into head-up display, head mounted displays, near-to-eye devices and others. On the basis of vertical, the market has been segmented into consumer electronics, entertainment & sports, aviation, education, automotive, aerospace & defense, retail, media and others.
Global OLED Microdisplay Market: Competition Analysis
Sony Corporation (Japan), Samsung Electronics Co., Ltd (South Korea), Dresden Microdisplay GmbH (Germany), Himax Technologies, Inc. (Taiwan), Silicon Micro Display Inc. (US), OmniVision Technologies Inc. (US), WINSTAR Display Co., Ltd (Taiwan), LG Display Co., Ltd. (South Korea), MicroVision Inc. (US), OSRAM Licht AG (Germany), eMagin Corporation (US), Yunnan OLiGHTEK Opto-Electronic Technology Co., Ltd (China), Kopin Corporation (US), Seiko Epson Corporation (Japan), Holoeye Photonics AG (Germany), Industrial Technology Research Institute (ITRI) (Taiwan), JBD Inc. (US), Jasper Display Corp. (US), Fraunhofer Fep (Germany), Vuereal (Canada), Texas Instruments Inc. (US), are Cea-Leti (France) some of the prominent companies operating in the global OLED microdisplay market.
Forth Dimension Displays Limited, (ForthDD) owned by the U.S. based technology company Kopin Corporation has recently unveiled a new 2K x 2K high performance reflective LCOS device. This new 0.94” diagonal 2K x 2K device comes with 2048 x 2048 pixels and can be utilized as a Spatial Light Modulator (SLM) or as a microdisplay.
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Global OLED Microdisplay Market: Regional Analysis
On the basis of region, the market has been segmented into Asia Pacific (APAC), Europe, North America, and rest of the world (RoW). Asia Pacific’s growing dominance in the electronics industry puts it at a favourable position in the global OLED microdisplay. In terms of revenue, APAC make the largest contribution to the global market. In addition, the APAC OLED microdisplay market is projected to demonstrate the highest growth rate during the forecast period. Presence of many display device manufacturers across the region has augured well for the market in APAC. There is a growing market for smartphones, smartwatches, and wearable, which is viewed as a key driver. In recent years, manufacturers based in Asia has displayed a greater interest in R&D pipeline as they now look beyond existing technologies for growth. This is also triggered by the increasing competition from foreign players who aim to lure consumers with innovative products. APAC is followed by North America, which the second largest market for OLED microdisplay.
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