• Blog
  • Micro Display Market Analysis | 2022-2028

    Micro Display Market Analysis | 2022-2028

    Micro Display Market Analysis | 2022-2028
    Report code - SR1360 Delivery - 2 Weeks
    Micro Display Market Growth, Trends, Dynamics & Market Insights: 2022-2028
    See more...

    Market Insights

    "The global micro display market is projected to grow from USD 990.37 million in 2021 to USD 9556.28 million by 2028 at a CAGR of around 38.14% during the forecast period."

    Want to get a free sample? Register Here

    Micro-display is defined as a display that has a very small screen. The screen size of microdisplays is less than two inches diagonal. Based on product, micro-displays can be categorized as near-to-eye display devices which include electronic viewfinders, head-mounted displays, head-up displays; and projectors.

    Micro-Display Market Report Overview

    Market Size in 2028

    USD 9556.28 Million

    Market Size in 2021

    USD 990.37 Million

    CAGR (2021-2026)

    38.14%

    Base Year of Study

    2021

    Trend Period

    2017-2020

    Forecast Period

    2022-2028

    Key Players

    Key players operating in the microdisplay market are:

    • LG Display (South Korea)
    • Universal Display Corporation (US)
    • Syndiant Inc (US)
    • Sony Group Corporation (Japan)
    • MicroVision, Inc. (US)
    • Micron Technology, Inc. (US)
    • KopIn Corporation Inc (US)
    • Himax Technology Inc (Taiwan)
    • eMagin Corporation (US)
    • AU Optronics (Taiwan).

    Market Dynamics

    The growth of the micro-display market is primarily driven by widespread product use in a broad range of end-use industries such as automotive, healthcare, consumer electronics, and military & defense. Expanding the electrical & electronics industry is propelling market growth substantially. In addition to this, increasing investment in research and development activities to develop new products is likely to create lucrative opportunities for the players operating in the global market in the coming years.

    Market Restraints:

    The key restraints in the microdisplay market include:

    • Major disadvantages connected with technologies of micro-display like micro-LED, which include high price, which does not allow expanding their usage.
    • Competitive pressures from established display technologies such as LCD and OLEDs that are somewhat cheaper and easier to scale up.
    • Difficulties in fabricating micro-displays for the large market with high yields, and the requirement of fine equipment to do so.
    • Inadequate compatibility and modularity of components and micro-display platforms hinder manufacturers in the integration of the platforms into different gadgets.
    • There are reputational risks dampened by regulatory pressures and safety and environmental concerns that may hike operational difficulties and expenses among manufacturers.
    • These restraints only point out the need to carry on with research and development, reducing costs for micro-displays and integration with device makers in a bid to expand the use of these more enhanced display technologies.

    COVID-19 Impact

    The COVID-19 outbreak impacted the growth of the micro-display market negatively. The spread of coronavirus led to the enforcement of lockdown to curb the spread of the virus. This led to travel restrictions and supply chain disruptions, which affected the product supply for a short period.

    Want to get a free sample? Register Here

    Segment Analysis

    Application Insights

    "The consumer electronics segment accounted for the largest market share."

    The micro-display market has been bifurcated into military & defense, automotive, healthcare, consumer electronics, and others. The consumer electronics segment accounted for the largest market share in 2021 and is projected to register significant growth during the review period. The segment growth can be attributed to increasing demand for consumer electronics across geographies.

    Regional Trends

    "North America accounted for the largest market share."

    The market in North America accounted for the largest market share in 2021 and is projected to grow at a significant CAGR during the assessment period. The regional growth can be attributed to the presence of established end-use industries and key market players such as Universal Display Corporation (US) and Micron Technology, Inc. (US). The market in Asia-Pacific is expected to be driven by expanding industrialization in developing countries such as China and India.

    Want to get a free sample? Register Here

    Report Features

    This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market.

    What deliverables will you get in this report?

    Key questions this report answers

    Relevant contents in the report

    How big is the sales opportunity?

    In-depth analysis of the Micro-Display Market

    How lucrative is the future?

    Market forecast and trend data and emerging trends

    Which regions offer the best sales opportunities?

    Global, regional and country level historical data and forecasts

    Which are the most attractive market segments?

    Market segment analysis and forecast

    Which are the top players and their market positioning?

    Competitive landscape analysis, Market share analysis

    How complex is the business environment?

    Porter’s five forces analysis, PEST analysis, Life cycle analysis

    What are the factors affecting the market?

    Drivers & challenges

    Will I get the information on my specific requirement?

    10% free customization

     

    This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

    The market is segmented into the following categories:

    By Product

    • Near to Eye (NTE) Display Devices
    • Projection Devices
    • Others

    By Application Type

    • Military & Defense
    • Automotive
    • Healthcare
    • Consumer Electronics
    • Others

    By End-Use Type

    • LCD
    • LCoS
    • DLP
    • OLED
    • Others

    By Region

    • North America
    • Asia-Pacific
    • Europe
    • Rest of the World

    Research Methodology

    This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

    Customization Options

    With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

    Company Profiling

    • Detailed profiling of additional market players (up to three players)
    • SWOT analysis of key players (up to three players)

    Competitive Benchmarking

    • Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

    Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.

    Frequently Asked Questions (FAQs)

    Micro-display is defined as a display that has a very small screen. The screen size of microdisplays is less than two inches diagonal. Based on product, micro-displays can be categorized as near-to-eye display devices which include electronic viewfinders, head-mounted displays, head-up displays; and projectors.

    The micro-display market is expected to witness an impressive growth of 38.14% CAGR in the coming years.

    The micro-display market size is expected to reach USD 9556.28 million in the foreseeable future.

    The consumer electronics segment is expected to register significant growth in the market in the coming years.

    North America accounted for the largest share in the market in 2021.

    LG Display (South Korea), Universal Display Corporation (US), Syndiant Inc (US), Sony Group Corporation (Japan), MicroVision, Inc. (US), Micron Technology, Inc. (US), KopIn Corporation Inc (US), Himax Technology Inc (Taiwan), eMagin Corporation (US), and AU Optronics (Taiwan) are among the key players in the micro display market.

    The growth of the micro-display market is primarily driven by widespread product use in a broad range of end-use industries such as automotive, healthcare, consumer electronics, and military & defense. Expanding the electrical & electronics industry is propelling the market growth substantially. In addition to this, increasing investment in research and development activities to develop new products is likely to create lucrative opportunities for the players operating in the global market in the coming years.

    Distributors, suppliers, manufacturers, logistics organizations, and government bodies.