Microdisplays Market Size, Share and Trends 2024 to 2034

Microdisplays Market Size and Forecast 2024 to 2034

The global microdisplays market size is calculated at USD 3.09 billion in 2024 and is predicted to reach around USD 26.35 billion by 2034, expanding at a CAGR of 23.92% from 2024 to 2034. Growing advancements in microdisplay technology are the key factor driving the market growth. Also, the increasing adoption of next-generation display technology coupled with the rising utilization of head-mounted displays (HMDs) can fuel the microdisplays market growth further.

Microdisplays Market Key Takeaways

• Asia Pacific dominated the global market with the largest market share of 36% in 2023.
• North America is expected to grow at the fastest rate in the market over the studied period.
• The U.S. dominated the North America microdisplays market and recorded more than 73% of the market share in 2023.
• By product, the near-to-eye segment led the global market in 2023.
• By product, the projection segment is anticipated to grow at the fastest CAGR over the forecast period.
• By technology, the liquid crystal display (LCD) segment generated the highest market share in 2023.
• By technology, the liquid crystal on silicon (LCoS) segment is estimated to grow at a significant CAGR during the forecast period.
• By application, the consumer electronics segment has held the largest market share in 2023.
• By application, the automotive application segment is projected to grow at the fastest CAGR over the forecast period.

Asia Pacific Microdisplays Market Size and Growth 2024 to 2034

The Asia Pacific microdisplays market size is exhibited at USD 1.11 billion in 2024 and is projected to be worth around USD 9.62 billion by 2034, growing at a CAGR of 24.03% from 2024 to 2034.

Asia Pacific dominated the global microdisplays market in 2023. The dominance of the region can be attributed to the increasing demand for consumer electronics in developing nations like China and India. Furthermore, in the region, Japan shows remarkable growth owing to the rising utilization of high-resolution display devices and growing demand for innovative consumer electronics like smart glasses and smartphones.

• In January 2022, Sony Group Corporation announced the launch of OLED microdisplays that are utilized in mirrorless cameras, head-mounted displays (HMD), electronic viewfinders (EVF), and other applications. 

North America is expected to grow at the fastest rate in the microdisplays market over the studied period. The growth of the segment can be credited to the strong presence of major market players that utilize microdisplays in their product designs. Moreover, the growing adoption of AR/VR technologies in countries like the U.S. further boosts the market expansion in the region. Microdisplays are also widely utilized in the electronics and automotive industry due to their exceptional picture quality and high resolution.

Market Overview

A microdisplay is a small electronic display panel. These displays are less than two inches in length and diagonal size and can be viewed through an optical system. Microdisplays have been utilized in many applications, such as near-eye applications, rear-projection TVs, data projectors, head-mounted displays (HMDs), etc. The microdisplays market offers super extended graphics array (SEGA) resolution for improved brightness. Some common types of microdisplays are OLED microdisplays and AMOLED microdisplays.

Top 5 consumer electronics companies in the world by market capitalization (2022)

 Impact of AI on the Microdisplays Market

The primary use of AU in the microdisplays market is user interaction, content creation, and customized recommendations. AI-generated content can improve the overall experience and offer precise visual environments in microdisplays. Furthermore, AI enhances user engagement by generating responsive interfaces that are compatible with the user's preferences and habits in wearables and smartwatches.

• In October 2024, Himax Technologies, Inc., an industry leader in fabless display driver ICs and other semiconductors, declared the successful mass production of its innovative In-Cell Touch TDDI (Touch and Display Driver Integration) solution, the HX83132, for high-end LCD AI laptops.

Microdisplays Market Growth Factors

• Growing adoption of microdisplays in the military and defense sector is expected to boost the microdisplays market growth shortly.
• Increasing consumer's inclination towards compact, portable, and convenient modern devices can propel the growth of the market soon.
• The rising demand for fitness trackers and smartwatches for lifestyle support and entertainment will likely contribute to the market expansion further.

Market Scope

Market Dynamics

Driver

Increasing demand for consumer electronics

The ongoing growth of augmented reality and virtual reality technologies in healthcare, training, and gaming is fuelling the demand for the microdisplays market to give immersive experiences. In addition, consumer electronics market players are increasingly incorporating microdisplays in electronic viewfinders for cam recorders and cameras is expanding the consumer base in the market. Also, there is a growing demand for consumer electronics in developing countries like China and India.

• In September 2024, Kopin Corporation, a key provider of high-performance microdisplays for enterprise, industrial, defense, consumer, and medical products, announced that it had received a USD 1.3 million follow-on order for its Emerald microdisplay module in support of a major weapon sight product.

Restraint

Limited content availability

There might be some limitations on the content in programs which is specially made for the microdisplays market. This can impact negatively on customer interest, particularly for applications related to entertainment and gaming. Moreover, in some applications, power efficiency is important, mainly for portable equipment. This can limit the adoption of microdisplays if they use a lot of power.

Opportunity

Increase in demand for power-efficient micro-LED display panels.

In the microdisplays market, micro LED displays present an innovative technology in the realm of display technology, distinguished by the utilization of microscopic LEDs as central pixel elements. These advancements provide improved contrast as compared to conventional LCD and OLED displays, along with minimal power consumption. Furthermore, the increasing need for consumer electronics with brighter displays and higher pixel density is fuelling the adoption of power-efficient micro-LED displays.

• In January 2024, Samsung Electronics Canada announced the launch of its latest QLED, MICRO LED, OLED, and Lifestyle display lineups. The announcement also aims to optimize the Samsung AI screen era through the introduction of a new AI processor. 

Product Insights

The near-to-eye segment led the global microdisplays market in 2023. The dominance of the segment can be attributed to the growing adoption of these displays and AR devices like electronic viewfinders (EVFs), and head-up displays (HUDs). Near-to-eye displays have the ability to create a large image from a lightweight and compact source display unit enabling its integration into technologies like wearables. Also, these displays have greater pixel density which leads to higher clarity and resolution.

The projection segment is anticipated to grow at the fastest rate in the microdisplays market over the forecast period. The growth of the segment can be credited to the expanding innovation of technologies like Liquid Crystal on Silicon (LCOS) which has an advantage t in high-end projection. The ability to offer larger size images distinguished by small size display units with higher quality. And power efficiency. Moreover, there are rapid advancements in display technology and the increasing use of AR technologies.

Technology Insights

The liquid crystal display (LCD) segment dominated the microdisplays market in 2023. The dominance of the segment can be linked to the increasing use of LCD in head-up displays, low costs, and minimal energy consumption. The proliferation of smart devices is a key factor that impacts market growth positively. Furthermore, the escalating adoption of digital teaching practices in education can lead to a substantial surge in LCD display demand.

The liquid crystal on silicon (LCoS) segment is estimated to grow at a significant rate in the microdisplays market over the projected period. The growth of the segment is driven by the increasing utilization of LCoS in laser projections coupled with technological advancements. Furthermore, LCoS technology is essential for designing AR applications in the automotive industry. Also, the increase in learn by fun" trend in the education field is anticipated to raise the demand for LCoS.

• In May 2024, VueReal announced the launch of its ColourFusion microDisplay, an advanced augmented reality (AR) display that sets a new standard in visual clarity and color accuracy. The solution is relevant for multiple industries spanning consumer, aerospace, electronics, automotive, medical, and industrial.

Application Insights

The consumer electronics segment held the largest share of the microdisplays market. The dominance of the segment is due to a growing preference for convenient and portable devices and the increasing adoption of smartwatches and smartphones. Microdisplays play an important role in the functionality of products like wearable devices, VR headsets, and AR glasses in the electronics industry.

• In February 2024, JDI launched a 4K x 4K IPS LCD microdisplay that achieves the world’s highest 2527 ppi resolution for use in virtual and mixed-reality headsets on a glass substrate. The 2.15-inch microdisplay uses LTPO and COA to help cut power usage while giving users a better virtual image with less visible pixelization.

The automotive application segment is projected to grow at the fastest rate in the microdisplays market over the forecast period. The growth of the segment is linked to the ongoing advancements in microdisplays and the integration of cutting-edge features by key market players in the automotive sector which enable car drivers to respond to calls and control music without distracting attention. Mainly microdisplayes use in automotive technologies like AR dashboards and heads-up displays (HUDs).

Microdisplays Market Companies

• LG DISPLAY CO., LTD.
• eMagin. (SAMSUNG DISPLAY)
• Sony Corporation
• KOPIN
• AUO Corporation
• Micron Technology, Inc.
• Himax Technologies, Inc.
• Syndicate
• UNIVERSAL DISPLAY
• MicroVision

Latest Announcements by Leaders

• In April 2024, LG Display announced that it had developed the first-ever Gaming OLED panel with a switchable refresh rate and resolution. The company began mass production of the 31.5-inch panel in April month.
• In June 2024, Himax Technologies, Inc., a global leader in display driver ICs, announced its upcoming Annual General Meeting (AGM) scheduled for August 2024 in Tainan, Taiwan. The company is known for its substantial contributions to automotive display technology and visual-AI fields.

Recent Developments

• In January 2024, Kopin Corporation and MICLEDI Microdisplays announced a partnership initiative to develop advanced micro-LED displays for an immersive AR experience in high-brightness light conditions.
• In January 2023, Seiko Epson Corporation, the world's top projector brand, announced the expansion of its PowerLite and BrightLink laser projector lines. The new models have 12 new lamp-free laser exhibits powered by Epson's proprietary 3-chip 3LCD technology.
• In February 2022, eMagin Corporation announced the first public demonstration of its flagship Direct Patterning Display (dPdTM) technology on a widescreen ultra-extended graphics array (WUXGA) (1920x1200 pixels) OLED microdisplay, the world's brightest full-color OLED microdisplay.

Segments Covered in the Report

By Product

• Near-To-Eye
• Projection
• Others

By Technology

• Liquid Crystal Display (LCD)
• Organic Light-Emitting Diode (OLED)
• Digital Light Processing (DLP)
• Liquid Crystal On Silicon (Lcos)

By Application

• Consumer Electronics
• Military and Defense
• Medical Applications
• Industrial Systems
• Automotive
• Others

By Geography

• North America
• Asia Pacific
• Europe
• Latin America
• Middle East and Africa