Microdisplays Market Size, Share & Trends Analysis Report By Product (Near-To-Eye, Projection, Others), By Technology (LCD, LCoS, OLED, DLP), By Application, By Region, And Segment Forecasts, 2024 - 2030

Microdisplays Market Size, Share & Trends Analysis Report By Product (Near-To-Eye, Projection, Others), By Technology (LCD, LCoS, OLED, DLP), By Application, By Region, And Segment Forecasts, 2024 - 2030

Microdisplays Market Growth & Trends

The global microdisplays market size is expected to reach USD 10.64 billion by 2030, registering a CAGR of 23.9% from 2024 to 2030, according to a new report by Grand View Research, Inc. A microdisplay is a microminiaturized display with a diagonal screen size of fewer than two inches. Microdisplays are compact small-sized displays with a large number of pixels and high resolution. These are commonly used in head-mounted displays (HMDs), head-up displays (HUDs), rear-projection TVs, and digital cameras. Increasing adoption of consumer electronics, rising consumer preferences for miniature displays, and widening application scope of the product are among the primary growth stimulants for the market.

Microdisplays utilize CMOS (complementary metal-oxide semiconductor) chips that include a two-dimensional array of transistors. Microdisplays are being increasingly used in rear-projection TVs to increase voice and image clarity, besides reducing the overall cost. Excellent picture quality, high resolution, compact size, and low power consumption have led to increased adoption of microdisplays in consumer electronics, military & defense, and medical applications. In 2017, LCD-based displays dominated the market owing to their low cost, relatively high brightness, and a rather simple manufacturing process.

Moreover, high consumer demand for small form factor (SFF) microdisplay devices with improved features, such as faster response, more colorfulness, higher power efficiency, and better contrast is projected to create significant opportunities for vendors in the market. Furthermore, OLED is a next-generation technology replacing LCD in several applications, such as digital cameras, fitness watches, and smartphones.

Key manufacturers are also highly focused on R&D initiatives to innovate new display technologies based on OLED, LCoS (Liquid Crystal on Silicon), and holographic displays. For instance, in May 2018, Sony Semiconductor Solutions Corporation introduced a high-class UXGA resolution OLED microdisplay with the smallest pixel size of 6.3 micrometers.

These displays are being increasingly used for military and medical applications, such as monochrome night-vision systems to provide an improved visual experience to soldiers, real-time augmented displays, and monitoring patient vitals. This, in turn, is anticipated to drive the microdisplays market over the forecast period.

Prominent market players are strategically focusing on partnership agreements that would help them to introduce new products and enhance their geographical presence. High manufacturing costs associated with these displays are estimated to hamper the growth of the global microdisplays market.

Microdisplays Market Report Highlights

• The near-to-eye segment dominated the market and accounted for a market revenue share of 54.2% in 2023. This growth is attributable to the increasing adoption of near-to-eye displays and AR devices such as head-up displays (HUDs), electronic viewfinders (EVFs), and head-mounted displays (HMDs).
• The Liquid Crystal Display (LCD) segment accounted for the largest revenue share in 2023. The growth is attributed to factors such as low costs, less energy consumption, and growing use in head-up displays (HUDs), head-mounted display (HMDs), electronic viewfinders (EVFs), and wearables.
• Consumer electronics segment accounted for the largest revenue share in 2023. Microdisplays play a crucial role in the functional ability of products such as VR headsets, wearable devices, and AR glasses within the consumer electronics industry.
• The Asia Pacific microdisplays market dominated the global industry and accounted for a revenue share of 35.5% in 2023.

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