New York City, NY -- (SBWIRE) -- 09/08/2020 -- As per recent market research report by P&S Intelligence, the global microdisplay market is projected to reach $4.0 billion by 2030, from $1.0 Billion in 2019, at a 13.4% CAGR during 2020–2030. The increasing number of near-to-eye (NTE) applications and the surging incorporation of heads-up display (HUD) integrated advanced driver assistance systems (ADASs) are the major factors propelling the growth of the global microdisplay market.
The rising concerns regarding the safety of vehicles and passengers have led to the implementation of stringent laws that mandate the installation of advanced driver-assistance systems (ADAS) in automobiles. With time, ADAS are being integrated with heads-up displays (HUD), which help in the reduction of driver distractions, by displaying vital information, such as warning signals, vehicle speed, and navigational directions, without the driver having to take off their gaze from the road.
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Depending on product type, the microdisplay market is classified into HUD, NTE device, projector, and others. Out of these, the projector category will account for the highest revenue share in the market in the coming years, mainly because of the increasing utilization of data projectors in the business and education sectors. Additionally, the soaring usage of 3D projection and digital screens in various emerging applications will boost the growth of the industry in the future years.
Globally, the Asia-Pacific (APAC) region is currently generating the highest revenue in the microdisplay market. Moreover, the market will be very lucrative in the APAC region in the forthcoming years. This is attributed to the existence of a large number of microdisplay manufacturing companies in the region and the subsequent fall in the costs of these systems. Due to these factors, the usage of microdisplay screens is increasing rapidly in APAC.
Browse report overview with detailed TOC on "Microdisplay Market Research Report: By Technology (LCD, LCOS, OLED, DLP), Product Type (Near-To-Eye Device, Heads-Up Display, Projector), Brightness (<500 Nits, 500–1,000 Nits, >1,000 Nits), End User (Consumer Electronics, Industrial, Automotive, Military & Defense, Sports & Entertainment, Retail & Hospitality, Medical) - Global Industry Analysis and Growth Forecast to 2030" at:https://www.psmarketresearch.com/market-analysis/microdisplay-market-outlook
The leading players operating in the market are increasingly getting into partnerships with each other for increasing their operations and market presence. For example, Wuhan China Star Optoelectronics Semiconductor Display Technology Co. Ltd., a company based in China, and Universal Display Corporation (UDC), a company based in New Jersey, United States entered into a partnership with each other and signed a new OLED technology license agreement and the required materials purchase agreement in May 2020. According to the terms of the agreement, UDC will supply phosphorescent OLED materials to Wuhan China Star Optoelectronics via UDC Ireland Ltd., a wholly-owned subsidiary of UDC. These materials will be used in the display systems manufactured by Wuhan China Star Optoelectronics.
The research includes detailed analysis of;
Based on Technology
* Liquid Crystal Display (LCD)
* Liquid Crystal on Silicon (LCOS)
* Organic Light-Emitting Diode (OLED)
* Digital Light Processing (DLP))
Based on Product Type
* Near-To-Eye (NTE) Device
* Heads-Up Display (HUD)
* Projector
Based on Brightness
* <500 Nits
* 500–1,000 Nits
* >1,000 Nits
Based on End User
* Consumer Electronics
* Industrial
* Automotive
* Military & Defense
* Sports & Entertainment
* Retail & Hospitality
* Medical
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