Dublin, Nov. 18, 2020 (GLOBE NEWSWIRE) -- The "Microdisplay Market Research Report: By Technology, Product Type, Brightness, End User - Global Industry Analysis and Growth Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
The global microdisplay market generated a revenue of $1.0 billion in 2019
Furthermore, due to the rising incorporation of heads-up display (HUD)-integrated advanced driver assistance systems (ADASs) in vehicles and the ballooning number of NTE (near-to-eye) applications, the market is predicted to attain a valuation of $4.0 billion in 2030, exhibiting a CAGR of 13.4% between 2020 and 2030.
The rising prevalence of road accidents has made road safety a priority concern area for many governments and traffic regulatory authorities. As a result, the governments of many countries such as the U.S., Japan, and China are rapidly implementing stringent regulations and policies regarding vehicular safety. These policies mandate the integration of ADASs in automobiles. According to the Federal Motor Carrier Safety Administration (FMCSA), the U.S. launched a project in 2019 aimed at promoting the integration of ADASs in trucks.
The main purpose of the project is to reduce the occurrence of road crashes, injuries, and deaths in the trucking industry in the country. Furthermore, the rising public awareness about vehicular safety is making the original equipment manufacturers (OEMs) install HUDs in their vehicles. These HUDs will enhance the driving experience by providing the driver with essential driving-related information. The growing integration of HUDs is massively pushing up the demand for microdisplays and driving the growth of the market.
Another key factor fueling the growth of the market is the rising usage of NTE devices such as augmented reality (AR)/virtual reality (VR), HUD, and personal electronics such as cameras, full-color projection systems, and mobile phones across the world. The rapid advancements in technology are boosting the usage of VR and AR devices in the gaming and media and entertainment industries. Additionally, the rising utilization of HUDs in the automotive and military industries is propelling the expansion of the market.
Depending on technology, the microdisplay market is categorized into liquid crystal on silicon (LCOS), digital light processing (DLP), liquid crystal display (LCD), and organic light-emitting diode (OLED). Out of these, the LCD division is predicted to dominate the market in the forthcoming years. The growing consumer preference for LCDs over other devices, on account of their several advantages such as compact size, low cost, and less power requirements is the primary factor responsible for the advancement of this category.
Historically, the Asia-Pacific (APAC) microdisplay market was the most prosperous one in the entire world, mainly because of the existence of numerous microdisplay manufacturing companies in the regional countries and the subsequent fall in the costs of these devices. In addition to this, the surge of the automotive and consumer electronics industries in India, Japan, and China positively impacted the sales of microdisplays, which, in turn, caused the growth of the industry in the region.
Thus, it can be said without any doubt that the market will demonstrate rapid expansion all over the world in the upcoming years, mainly due to the rising integration of HUDs-integrated ADASs in automobiles, growing usage of NTC devices in various industries, and the presence of flourishing consumer electronics and automotive industries, especially in the APAC region.
Key Topics Covered:
Chapter 1. Research Background
Chapter 2. Research Methodology
2.1 Secondary Research
2.2 Primary Research
2.3 Market Size Estimation
2.4 Data Triangulation
2.5 Currency Conversion Rates
2.6 Assumptions for the Study
2.7 Notes and Caveats
2.8 COVID-19 Impact
Chapter 3. Executive Summary
Chapter 4. Introduction
4.1 Definition of Market Segments
4.1.1 By Technology
4.1.2 By Product Type
18.104.22.168 NTE device
22.214.171.124.1 Pico projector
126.96.36.199.2 Data projector
4.1.3 By Brightness
188.8.131.52 Less than 500 nits
184.108.40.206 500-1,000 nits
220.127.116.11 More than 1,000 nits
4.1.4 By End User
18.104.22.168 Consumer electronics
22.214.171.124 Military & defense
126.96.36.199 Sports and entertainment
188.8.131.52 Retail and hospitality
4.2 Value Chain Analysis
4.3 Market Dynamics
184.108.40.206 Increasing use of OLED microdisplays in consumer electronics industry
220.127.116.11 Growing adoption of HUD-integrated ADAS
18.104.22.168 Increasing number of NTE applications
22.214.171.124 Impact analysis of drivers on market forecast
126.96.36.199 Mature market for digital cameras affecting microdisplay market growth
188.8.131.52 Effect of COVID-19 outbreak
184.108.40.206 Impact analysis of restraints on market forecast
220.127.116.11 Development of next-generation micro-LED technology
4.4 Porter's Five Forces Analysis
Chapter 5. Global Market Size and Forecast
5.1 By Technology
5.2 By Product Type
5.2.1 NTE Device, by Type
18.104.22.168 HMD, by type
5.2.2 Projector, by Type
5.3 By Brightness
5.4 By End User
5.5 By Region
Chapter 6. North America Market Size and Forecast
Chapter 7. Europe Market Size and Forecast
Chapter 8. APAC Market Size and Forecast
Chapter 9. LATAM Market Size and Forecast
Chapter 10. MEA Market Size and Forecast
Chapter 11. Competitive Landscape
11.1 List of Players and Their Offerings
11.2 Ranking Analysis of Key Players
11.3 Competitive Benchmarking of Key Players
11.4 Global Strategic Developments of Key Players
11.4.1 Product Launches
11.4.3 Client Wins
Chapter 12. Company Profiles
12.1 Business Overview
12.2 Product and Service Offerings
12.3 Key Financial Summary
Himax Technologies Inc.
Jasper Display Corp.
Yunnan OLiGHTEK Opto-Electronic Technology Co. Ltd.
WiseChip Semiconductor Inc.
Micron Technology Inc.
Seiko Epson Corporation
Microtips Technology Inc.
LG Display Co. Ltd.
Universal Display Corporation
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