Microdisplay Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019 - 2027

Albany, NY -- (SBWire) -- 03/21/2019 --According to a new research report on the global microdisplay market published by Transparency Market Research (TMR) the global microdisplay market is expected to reach value of US$ 5782.6 Mn by 2027, expanding at a CAGR of 22.3% from 2019 to 2027. According to the report, the global market is likely to continue to be influenced by a range of macroeconomic and market-specific factors in the next few years. In terms of demand, Asia Pacific is projected to continue to lead the global market, with the market in the region expanding at a CAGR of 24.8% between 2019 and 2027.

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Advantages Associated with the use of Microdisplays driving the Global Microdisplay Market

The global microdisplay market has witnessed strong growth over the last decade. One of the major drivers propelling the market is advantages associated with the use of microdisplays. Some of the significant features of microdisplay are high resolution and excellent image quality, low power consumption, and compact size. Generally, microdisplays are less than two inches in diagonal. In other words, their diagonal is approximately five centimeters. In addition, high-resolution microdisplays offer excellent viewing experience to users, which results in the increasing popularity of high-resolution display devices. These features allow the deployment of microdisplays in multiple applications ranging from consumer electronics to military, defense and aerospace. This, in turn, results in increasing popularity of microdisplays among manufacturers. This factor is likely to propel the global microdisplay market during the forecast period.

Furthermore, increasing demand for the AR/VR technology in the gaming & entertainment sector is projected to drive the global microdisplay market during the forecast period. This can be attributed to the compatibility of headsets equipped with the VR technology with smartphones and other smart electronics devices used for superior gaming experience. AR and VR technology-based products, such as AR HMDs, HUDs, and VR HMDs, are expected to witness significant demand during the forecast period. This factor is estimated to augment the market for microdisplays in end-use industry segments such as industrial, automotive, and military, defense and aerospace in the next few years.

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Furthermore, adoption of HMDs (head-mounted displays) in multiple end-use industries is becoming a major trend in the global microdisplay market. AR and VR head-mounted displays are major applications of microdisplays. The compact size of microdisplays enable their deployment in HMDs, wherein space is a key constraint. Head-mounted displays offer high resolution and comparatively compact size. These displays are designed to be employed in different applications across several industries including health care, education, automotive, consumer electronics, and sports & entertainment. Thus, increasing demand of head-mounted displays from different industry verticals is anticipated to create new opportunities for the global microdisplay market in the next few years.