The global microdisplay market is expected to be worth USD 1,350.2 million by the end of 2022 from USD 809.8 million in 2017. During the forecast period of 2017 and 2022, the global market for microdisplay is projected to exhibit a CAGR of 10.8 percent. The excellent growth rate of the global microdisplay market will be driven by the booming electronics sector. The growing application of microdisplay for near-the-eye products such as VR/AR headsets and smart glasses is projected to favor market growth in the near future. Above all, the report emphatically points out that growing sales of consumer electronics is expected to be the key driver for the global microdisplay market between 2017 and 2022.
In terms of technology, the global microdisplay market is segmented into LCoS, LCD, OLED, and DLP. Out of these, the LCDs are expected to outshine others as they are easy to manufacture. LCDs are also widely available, which gives the segment an edge over others. The convenient operational characteristics are expected to succor the segment a phenomenal growth rate.
In terms of geography, the global microdisplay market is segmented into North America, Asia Pacific, Latin America, Europe, and the Middle East and Africa. Out of these, Asia Pacific is expected to lead the market as it will come to hold a lion’s share by the end of the forecast period. The success of this regional market will be driven by the robust growth of the electronics sector in countries such as Korea and China. Outsourcing of production of electronics to developing parts of the worlds has made Asia Pacific a key regional market in the overall scheme of things. The report also points out that Japan is expected to make significant contributions to the overall earnings of the overall microdisplay market in the coming years.
The prominent players operating in the global microdisplay market are eMagin Corporation, AU Optronics Corp., Universal Display Corporation, Himax Technologies Inc., and KopIn Corporation Inc. The research report provides a detailed explanation of the competitive landscape present in the overall market with the help of a SWOT and Porter’s five forces analysis. It evaluates the research and development strategies and the business and marketing plans of these vendors. The publication is also includes comments and suggestions by market expert that are excellent value additions to the overall read.― Digital Journal