Microdisplays Market Revenue to Attain USD 21.26 Bn by 2033

21 Nov 2024

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Table of Content

1. Microdisplays Market Revenue and Trends 2. Market Overview 3. Report Highlights of the Microdisplays Market 4. Microdisplays Market Trends 5. Microdisplays Market Coverage 6. Regional Outlook 7. Market News 

Microdisplays Market Revenue and Trends

The global microdisplays market revenue reached USD 3.09 billion in 2024 and is predicted to attain around USD 21.26 billion by 2033 with a CAGR of 23.92%. The demand for the microdisplays market is increasing due to the rising adoption of next-generation emissive display technologies in many devices.

Market Overview

Microdisplay is a compact electronic display panel. This display is less than two inches in diagonal size and can be viewed through an optical system. Microdisplays have applications in many devices such as near-eye applications, data projectors and dead mounted displays (HMDs) rear-projection TVs, etc. In addition, Microdisplay gives super extended graphics array (SEGA) resolution for better brightness.

Report Highlights of the Microdisplays Market

• By product, the near-to-eye segment led the global market in 2023. The dominance of the segment can be attributed to the growing adoption of near-to-eye displays by many consumers.
• By product, the projection segment is anticipated to grow at the fastest rate in the market over the forecast period. The growth of the segment can be linked to the rising advanced integration of technologies like liquid crystal on silicon (LCOS).
• By technology, the liquid crystal display (LCD) segment dominated the market in 2023. The dominance of the segment is due to the increasing use of head-up displays (HUDs) and the low costs of LCDs.
• By technology, the liquid crystal on silicon (LCoS) segment is estimated to grow at a significant rate in the market over the projected period. The growth of the segment is driven by the escalating integration of LCoS microdisplays in multiple products.
• By application, in 2023, the consumer electronics segment held the largest share of the market. The dominance of the segment is because of the increasing preference for convenient and portable devices by consumers.
• By application, the automotive application segment is projected to grow at the fastest rate in the market over the forecast period. The growth of the segment is credited to growing advancements in microdisplays along with the integration of innovative features by market players.

Microdisplays Market Trends

Rising need for AR and VR technology

The demand for the microdisplays market is being fuelled by the increasing acceptance of virtual reality (VR) and augmented reality (AR) applications across many industries, such as education, healthcare, enterprise, and gaming. Hence, microdisplays that offer high-resolution options and are portable are important parts of AR and VR technologies. Also, major market players are investing heavily in research and development to create feature-rich microdisplays.

• 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.

Increasing adoption of automotive applications

Microdisplays can be combined with AR dashboards and other automotive end-uses to enhance driver safety and driving experience. The automotive industry's increasing focus on advanced driver assistance systems (ADAS) is boosting the need for microdisplays in the automobile sector. However, microdisplays allow drivers to see essential data, such as navigation directions, without witnessing any distractions.

Implementation of microdisplays in military and defense

The microdisplays market has a wide range of applications in the military and defense sector such as thermal imaging equipment and flight simulation systems. Microdisplays are gaining more popularity because this application necessitates durable, lightweight, and high-performance displays. Furthermore, this display functions in an extreme range of temperatures and conditions, enabling their high adoption in the defense sector.

Microdisplays Market Coverage

Regional Outlook

Asia Pacific dominated the global microdisplays market in 2023. The dominance of the region can be credited to the growing requirement for consumer electronics in emerging nations like China and India. Moreover, in Asia Pacific, Japan shows significant growth due to the growing utilization of high-resolution display devices and increasing demand for advanced consumer electronics devices such as smartphones and smart glasses.

North America is expected to grow at the fastest rate in the microdisplays market over the studied period. The growth of the region is driven by the increasing adoption of AR/VR technologies in nations like the U.S. The region also has a strong presence of key market players that use microdisplays in their product design. Moreover, microdisplays are extensively used in the electronics and automotive industries.

Market News 

• In August 2024, Meta announced the cancellation of one of its VR projects that was planned for 2027. This device was to be a high-end product, similar to Apple's Vision Pro -with a similarly high price tag. Following the low market reaction to Apple's Vision Pro, Meta decided to discard the project.
• In March 2024, OLEDWorks introduced the Atala brand for automotive OLED lighting. Atlas OLED technology is already featured on cars, such as the Audi8, and there's more to come, including interior lighting.

Market Segmentation

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

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