The OLED microdisplay market was valued at USD 109.55 million in 2019 and it is expected to reach USD 420.72 million by 2025, registering a CAGR of 27.69%, during the forecast period of (2020 - 2025)

OLED microdisplays offer a compact size with high pixel density. The market is witnessing growth in demand, owing to the increased use of microdisplays in devices, such as smartphones, television, etc.

New York, Oct. 12, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "OLED Microdisplay Market - Growth, Trends, Forecasts (2020 - 2025)" - https://www.reportlinker.com/p05865898/?utm_source=GNW
Moreover, low entry barriers and growing avenues of revenue are the prominent attributes in the OLED microdisplay market.

- The launch of virtual reality headsets is distorting the line between the digital and physical worlds and is generating a sense of being present in the virtual environment, which is accelerating the growth of the OLED microdisplay market. For instance, in March 2019, Sony announced that it had sold over 4.2 million PlayStation VR headsets. The growing VR market is expected to influence the OLED microdisplays positively.
- Advancements in the heads-up display (HUD) provide additional information to the driver while driving. The demand for OLED microdisplay in automotive industries is increasing, while the use of VR and AR for automotive prototyping in virtually designing a car is also supporting the market demand. For example, Jaguar Land Rover has incorporated 3D head-up display into its offerings, and Kia Seltos has an unveiled 8-inch head-up display into its interiors.
- Furthermore, governments are encouraging the industry by investing in building capabilities and R&D activities. Recently, the South Korean government invested USD 470 million to establish an OLED R&D center and a manufacturing facility, which will include 61 manufacturing and production systems, including several OLED evaporation systems.
- However, the protection of OLED layers against oxygen and water vapor and luminance and lifetime specifically under high-temperature conditions may hinder the growth of the market.
- The ongoing COVID-19 pandemic has significantly hampered the progress of the microdisplay market worldwide. This is because the lockdown imposed in several countries to curb the spread of the COVID-19 virus has caused huge disruptions in the global supply chain of the parts and components used in microdisplay systems.
- It has put the highlight on this hands-free, interactive technology, and it is unlikely that this focus would move for some time. There would be a need for this technology in many new use cases, which previously did not require hands-free or remote capabilities.

Key Market Trends
Consumer Electronics to Have a Major Share

- The digital camera evolution has helped the microdisplay market to innovate and evolve. The demand from the customer for a display with a clearer image, wide-view angle, and to overcome any limitations have assisted the OLED microdisplay to capture the market.
- The increasing disposable income of consumers has increased the demand for innovative and luxury products. Entertainment has become a medium for these products, which is reflecting the adoption of new display technologies. Consumer electronics, such as virtual reality and digital cameras, are witnessing growth in adoption.
- Consumer electronics, such as VR headset, are witnessing growth in adoption. Youngsters are increasingly adopting VR headsets compatible with smartphones and other devices for an improved gaming experience. Smartphone manufacturers, such as Samsung and HTC, also offer VR headsets along with the purchase of new smartphones. The rising adoption of VR gaming headsets, coupled with shifting consumer preferences toward miniaturization of electronic devices to make them handy and portable, is expected to drive the market’s growth positively over the forecast period.

North America to Hold Significant Market Share

- The United States is expected to be one of the fastest-growing markets in the world for AR and MR in the near future. Most of the companies advancing in this technology, including leading players, like Microsoft and Magic Leap, are based in the United States.
- Also, the United States is one of the largest markets for the media and entertainment industry. For instance, Microsoft HoloLens 2, released in February 2019 (Enterprise Edition), which is an AR headset, is a breakthrough in mixed reality technology. It has not yet been released for commercial usage.
- Moreover, Novarad’s OpenSight AR System is the first solution for the Microsoft HoloLens mixed reality system that was cleared by the FDA for medical use. The system, for now, has been cleared only for planning the operation beforehand and not the actual operation.
- Apart from use in enterprises, several initiatives are being undertaken in this region to bring mixed reality technology to the consumers. Kopin, the Massachusetts-based microdisplay company, has introduced the first commercial “smart helmet” for motorcyclists. The augmented reality (AR) headgear combines a near-eye head-up display with a rear-view camera and voice control.
- Further, Facebook brought VR to the masses by releasing new standalone and tethered headset such as Oculus Go and Quest in May 2019. They have been fairly successful in North America.

Competitive Landscape
The OLED Microdisplay market is fragmented. Various established international brands, domestic brands, as well as new entrants, form a competitive landscape. The major players are increasingly seeking market expansion through various strategic mergers and acquisitions, innovation, increasing investments in research and development.

- August 2020 - KopinCorporation announced its latest Lightning 720p OLED display (1280 x 720 resolution) on silicon has exhibited very high brightness of 7000 nits (candela per square meter) with good color (nearly 100% sRGB) and high contrast (> 4,000: 1). This display combines a duo-stack OLED structure to achieve super high brightness and Kopin’s ColorMax technology for high color fidelity.
- January 2020 - Sony Corporation announced its first TVs of 2020, and among them is the 48-inch Master Series A9S, the company’s smallest 4K OLED ever.

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