Global Microdisplay Market is Estimated to Reach $5 Billion by 2025, Says Accurize Market Research
Global Microdisplay Market report published by Accurize Market Research forecast that the global market is expected to reach $5 billion by 2025; growing at a CAGR of 23.8% from 2017 to 2025. By geography, Asia Pacific and Europe are expected to grow at a CAGR of 25.9% and 24.3%, respectively, during the forecast period.
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Increased demand of high resolution picture quality to drive the market
The global microdisplay market is majorly driven by compact size, high resolution picture qualityand low power consumption. Though, high expense of these products would act as a limitation for the market. Surge in demand for heads up displays (HUDs) would provide several growth opportunities for the market in the coming years.
Market Segmentation
Global microdisplay market is split into type, technology, application, and geography. The type segment includes neat-to-eye and projection. Technology segment is further divided into liquid crystal display (LCD), organic light-emitting diode (OLED), digital light processing (DLP), and liquid crystal on silicon (LCoS). Application segment of the market includes consumer electronics, military & defense, industrial systems, medical appliances, automotive, and others. Geographically the market is categorized into North America, Europe, Asia-Pacific, and Rest of the World (RoW).
"Consumer electronic accounted for the largest market share in the application segment", says Accurize
Consumer electronics segment accounted for the largest market share in 2017, due to the increase in demand for electronic products such as smart watch, smart glasses and smart bands. In addition, this segment is anticipated to grow at the fastest CAGR during the forecast period 2017-2025.
"North America dominated the global market with the highest market share over the forecast period", says Accurize
North America accounted for the largest market share in 2017, and is expected to continueto be the leading region during forecast period due to speedy technological advancement and increasing adoption of microdisplay in consumer electronics. Asia-Pacific is expected to grow at the fastest CAGR during the forecast period 2017-2025.
Top players in the market
Major players operating in the market include Micron Technology Inc., eMagin Corporation, Sony Corporation, Syndiant Inc., Universal Display Corporation, AU Optronics Corp, KopIn Corporation Inc., Himax Technology Inc., LG Display Co. Ltd, and Microvision Inc., among others.
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