Microdisplay Market | Industry Analysis and Market Forecast to 2024

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MarketsandMarkets Presents
Microdisplay Market by Product (HMD, HUD, EVF,
Projector), Technology (OLED, LCoS, LCD, DLP),
Industry (Consumer, Industrial/Enterprise,
Aerospace, Automotive, Retail, Entertainment,
Medical), Resolution, Brightness, and Region -
Global Forecast to 2024 The microdisplay
market is estimated to grow from USD 972 million
in 2018 to USD 3,583 million by 2024, at a CAGR
of 24.3 from 2018 to 2024
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MarketsandMarkets Presents
Currently, the development of cost-effective
microdisplays for VR HMDs is the major focus of
companies. The LOMID project was launched by the
European Union (EU) to develop next-generation
OLED microdisplays. The project was successfully
completed in 2018, and microdisplays are expected
to be commercialized in 2019. Project partners
developed flexible OLED microdisplays having a
size of 16 mmx20 mm (screen diagonal of 25.4 mm)
with the resolution of 10241280 (pixel sizes of
10 µmx10 µm corresponding to 2,000 ppi). The
project was led by Fraunhofer FEP and other
partners including MICROOLED, CEA-Leti,
University of Leipzig, the University of Oxford,
Limbak, X-FAB, and Dresden Microdisplay. In
October 2018, Fraunhofer Institute FEP presented
a VR headset produced during the LOMID project at
Augmented World Expo EU conference held in
Munich. The headset used 2 OLED/CMOS WUXGA
microdisplays per eye to give a total resolution
of 4800x1920 pixels with high frame rates and
wide field of view (FOV) for excellent VR
immersion.
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MarketsandMarkets Presents
Growth in microdisplay shipments will mainly be
driven by accelerating demand from HMD and HUD
vendors during the forecast period. The
increasing use of AR glasses in the industrial
and enterprise industry for providing on-the-job
training to field workers, warehouse management,
maintenance and inspection activities, and so on
creates significant demand for HMDs. With high
growth in unit shipments in AR HMDs, the market
is expected to grow tremendously during the
forecast period. Currently, projectors and
cameras/EVFs have been dominating the
microdisplay market in terms of demand, with
major players such as Epson and Sony active in
the projector and camera market. However, the
saturation in projector and camera shipments
would lead to slower growth of the microdisplay
market than that for other emerging products.
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MarketsandMarkets Presents
OLED is one of the technologies used in
microdisplays offering several advantages, such
as wider viewing angles, higher temperature
range, faster refresh rate, and better contrast
fulfilling these requirements. OLED is emerging
as a leading display technology in the market
where a lot of developments are happening, and
its adoption is expected to increase rapidly
during the forecast period. Initially, there were
a limited number of players offering OLED
microdisplays in the market however, as the
demand for OLED microdisplays is increasing
readily, companies are focusing on RD and
commercialization of OLED displays. The
increasing demand for HMDs and HUDs would provide
lucrative opportunities for the growth of the
microdisplay market for OLED technology in the
coming years. Magic Leap, Meta, ODG, and Epson
are a few key vendors who offer AR HMDs that
consist of OLED microdisplays.
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MarketsandMarkets Presents
With the growing trend for ADAS, the automotive
sector is witnessing surging demand for HUDs.
HUDs project key information directly in drivers
line of sight it also assists drivers to get
directions, receive calls, texts and control
music without looking away from the road
therefore, it is a safer and less distractive
tool. With the growing market for ADAS, the
automotive sector is witnessing surging demand
for HUDs.  
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MarketsandMarkets Presents
The aerospace and defense sector is expected to
provide wide growth opportunities to many players
in the microdisplay market during the forecast
period. Development of next-generation
microdisplay technologyMicro-LEDis also
expected to offer significant growth
opportunities for the market during the forecast
period. Microdisplay technologies have been
evolved over the time from LCD microdisplay to
the most advanced OLED microdisplay technology.
The requirement of end users for the miniaturized
display with the power efficiency, high
resolution, fast switching time, small form
factor leads to the evolution of microdisplay
technologies over the last few years.
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MarketsandMarkets Presents
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of the unmet insights along with market sizing
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