San Francisco, California, September 19, 2017:The growing demand for head mounted displays, coupled with the growing popularity of the enabling virtual reality technologies, is a key factor boosting the global microdisplays market. The rising popularity of virtual reality headsets and the growing number of applications of organic light emitting diodes (OLED) microdisplays virtual- and augmented-reality applications is driving the market. The growing number of microdisplays applications in military is fuelling the growth of the market. A new report by TMR Research, titled “Microdisplays Market – Global Industry Analysis, Market Size, Share, Trends, Analysis, Growth, and Forecast 2017–2025”, offers a comprehensive assessment of various factors and trends influencing the growth of the market.
The substantial demand for microdisplay technologies in head-up display (HUD) glasses is a key factor catalyzing the growth of the market. This is mainly attributed to the growing adoption of liquid crystal microdisplays in making high-performing HUDs. The rising popularity of HUDs in the automotive sector is another crucial factor propelling the demand for microdisplays. In addition, the growing demand for compact and inexpensive HUDs is a seminal trend catalyzing the demand for microdisplay technologies.
Recent advances in augmented and virtual reality technologies and a number of product launches of microdisplay-enabled HUD from big technology players in recent years are predicted to accentuate the market in the coming years. The rising adoption of microdisplay technologies in a number of personal wearable devices is expected to boost the market. The intensifying need for emissive types of displays to devise cost-effective wearable and electronics is a key factor propelling the demand for OLED microdisplays. This is expected to open up exciting opportunities for market players across various regions.
The substantial application of microdisplays in making camcorders and digital camera viewfinders is boosting the market. The growing inclination of reducing aviation safety by the adoption of virtual and augmented reality technology is anticipated to catalyze the growth of the microdisplays market.
The high cost of microdisplay-enabled devices and the intermittent product launches are the key factors likely to hinder the growth of the market to an extent. Nevertheless, substantial research being made in automotive HUDs and the advent of OLED microdisplays and other high-end electronics are key trends projected to unlock exciting opportunities for market players. For instance, the surging demand for multipurpose helicopters in developed and developing regions is a key factor expected to catalyze the demand for microdisplays. In addition, there is surging interest among device manufacturers in micro-OLED displays. This is expected to boost the market in the coming years. Furthermore, recent advances in OLED in developed regions is a key development expected to boost the adoption of microdisplays in various near-to-eye applications of personal wearable devices.
Geographically, North America and Europe are prominent markets for microdisplays. The growth of these regional markets is mainly attributed to the substantial demand for microdisplay-enabled wearable devices among consumers and substantial research being made in the OLED technology. Geographically, North America and Europe are prominent markets for microdisplays. The growth of these regional markets is mainly attributed to the substantial demand for microdisplay-enabled wearable devices among consumers and substantial research being made in the OLED technology. Meanwhile, microdisplays will witness substantial demand in several economies of Asia Pacific, such as China and South Korea. In addition, the vast strides made in the electronic industry in various developed nations such as Japan is expected to accentuate the regional market. Furthermore, the growing adoption of head mounted displays in the automotive sector is predicted to open up lucrative avenues for market players.
Key players operating in the global microdisplays market include Hana Microdisplay Technologies Inc., Microvision Inc., Sony Mobile Display Corp., MicroOLED, eMagin Corp., Kopin Corp., AU Optronics, Universal Display Corp., and WiseChip Semiconductors.
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