Positive. The microdisplay market is projected to reach USD 13.82 Billion by 2032.
From GlobeNewswire: 2024-11-05 08:07:00
The Microdisplay Market was valued at USD 2.45 Billion in 2023 and is projected to reach USD 13.82 Billion by 2032 with a CAGR of 21.29%. The growth is driven by AR/VR integration and advancements in display technologies, catering to sectors like gaming, healthcare, and defense, boosting demand for high-resolution, energy-efficient screens.
In 2023, the microdisplay market saw significant growth, led by the Near-To-Eye (NTE) segment, accounting for 57% of revenue, driven by AR/VR innovations from industry giants like Meta and Sony. Liquid Crystal Displays (LCDs) captured 40% of revenue due to their use in consumer electronics and automotive applications, with Samsung, LG Display, and Sharp leading LCD advancements.
Asia-Pacific dominated the microdisplay market in 2023, capturing 49% of revenue, fueled by technological advancements and demand in consumer electronics. Industry leaders like Sony, Samsung, and LG Display drive innovation in the region, with notable investments in AR/VR and automotive applications positioning Asia-Pacific as a dominant force. North America emerged as the fastest-growing region, driven by demand for advanced display technologies in sectors like AR/VR, with investments in microdisplay technology for applications like HMDs and HUDs. The market for wearable devices and smart glasses is booming in North America, thanks to the integration of microdisplays. Recent developments include LG Display’s production of a 13-inch Tandem OLED panel for laptops and VueReal’s launch of the ColourFusion microDisplay for AR applications. Fraunhofer IPMS also improved transparency in OLED microdisplays for AR. Access more insights at https://www.snsinsider.com/reports/microdisplay-market-4527.
The microdisplay market is set for robust growth, with key points covered in the report including market dynamics impact analysis, statistical insights, competitive landscape, segmentation by product, technology, and application, regional analysis, company profiles, and use cases. SNS Insider offers comprehensive market research and consulting services to help clients navigate changing circumstances and make informed decisions. Contact [email protected] for more information.
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