Global microdisplay market is projected to reach USD 3.2 billion by 2028 due to advancements

From GlobeNewswire: 2024-05-27 20:30:00

The global microdisplay market was valued at USD 1.1 billion in 2023, projected to reach USD 3.2 billion by 2028, with a 23.7% CAGR. Factors driving growth include compact size, technological advancements, increased HMD adoption, demand for OLED microdisplays, and global ADAS/HUD adoption.

Major companies in the microdisplay market include Samsung, Seiko Epson, Sony, Canon, NEC, Panasonic, Hitachi, and Toshiba. Growth opportunities are evident in the aerospace and defense sector, driven by microdisplays’ use in night-vision devices, thermal imaging tools, situational awareness devices, and rifle scopes.

Challenges in the microdisplay market include developing power-efficient displays with high resolution and brightness, especially for VR HMDs. Despite advancements, manufacturers face difficulties with form factor, field of view, and resolution, hindering widespread adoption in demanding applications.

As modern devices prioritize compactness and high resolution, the microdisplay market flourishes due to demand in EVFs, HMDs, HUDs, projectors, scopes, thermal imaging glasses, and medical equipment across various industries. The market’s growth potential in HMDs is highlighted as the demand for AR smart glasses is expected to rise rapidly.

Asia Pacific is set to lead the microdisplay market from 2023 to 2028, driven by Japan’s prominence in EVF technologies. The region’s demand for microdisplays in NTE devices is significant, with key camera manufacturers like Canon, Nikon, and Sony located in Asia Pacific. LCD microdisplays have a strong presence in cameras and projectors in the region.



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