A New Market Study, titled “OLED Microdisplay Market Upcoming Trends, Growth Drivers and Challenges” has been featured on Market Research Future.
The global OLED microdisplay market is increasingly garnering traction. OLED technology is far superior to LED and LCD in terms of low power consumption. As a result, OLED microdisplays’ popularity is rising rapidly, replacing the LEDs and LCDs from various consumer devices such as TVs, smartphones, and others. Besides, advances in display technologies drive the market growth. Also, OLED microdisplays are increasingly preferred and adopted in media and advertisement sectors.
Moreover, the growing demand for energy-efficient display panels for small devices such as smartphones and others escalate market growth. According to Market Research Future (MRFR), the global OLED microdisplay market valuation is poised to reach over USD 2,240.2 MN by 2023. In 2017, the market had registered USD 654.4 MN value, which would appreciate further at a whopping double-digit CAGR of 23.4% throughout the assessment period (2017-2023).
Growing adoption of these displays in industries such as automotive & aviation, consumer electronics, media & entertainment, aerospace & defence, and education substantiate the market demand. Also, OLED microdisplays are rapidly replacing LCD panels from hospitals and airports to leisure centers and control rooms. Moreover, with technological upgrades, many advanced models are introduced in the market. The increasing size of the OLED microdisplays with high resolution spurs market sales.
Resultantly, the OLED microdisplay market is growing rapidly, registering impressive growth records worldwide. Additionally, significant investments made by industry players to bring more advancement in these displays pay off well, fostering the market growth. Besides, the increasing industrialization and urbanization increase the OLED microdisplay market share.
Also, the improving economy worldwide boosts market growth, enhancing consumer purchasing power, and lifestyles. Conversely, the high cost of OLED microdisplays is a major factor projected to impede the development of the market. Nevertheless, technological advances expected in the recent future would support market growth, bringing about many cost-effective solutions to minimize OLED microdisplays’ cost.
OLED Microdisplay Market – Segments
The report is segmented into four dynamics;
By Product : Near-to-Eye Devices, Head Mounted Displays, Head-Up Display, and others.
By Resolution: HD, Full HD, and others.
By Vertical : Consumer Electronics, Automotive, Media & Entertainment, Sports & Education, Retail, Aviation, Aerospace & Défense, and others.
By Regions : Americas, Europe, Asia Pacific, and Rest-of-the-World.
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OLED Microdisplay Market – Geographical Analysis
The Asia Pacific region dominates the global OLED microdisplay market. The largest market share attributes to the presence of notable players such as LG and Samsung. Besides, advances in display technologies and the augmenting demand for microdisplay with OLED technology drive the regional market growth. Moreover, increased adoption of smartphones and smartwatches substantiates the market demand.
Furthermore, substantial R&D investments by major industry players for the development of display technology boost the growth of the regional market. The APAC global OLED microdisplay market is projected to retain its dominance throughout the forecast period.
North America is another lucrative market for OLED microdisplays globally. The market growth is driven by the well-developed economy in the region, fostering investments required for product developments. Additionally, the ability of the market players to develop cutting-edge display technologies and the growing uptake of these displays propel the regional market growth. The North American OLED microdisplay market is projected to create a substantial market demand during the review period.
The Europe OLED microdisplay market is gradually emerging as a promising space globally. Factors such as the augmenting demand for luxury or premium electronic products contribute to the growth of the market. Moreover, the rising demand for OLED microdisplays across the industry verticals substantiates the development of the regional market. The spurting rise in industries such as consumer electronics, automotive, media & entertainment, aerospace, and aviation creates vast market demand.
Global OLED Microdisplay Market – Competitive Landscape
Highly competitive, the OLED microdisplay market appears fragmented due to the presence of several dynamic & diversified industry players. These players initiate strategic approaches such as mergers & acquisitions, collaborations, expansion, and product/ technology launch to gain a larger competitive share. They make substantial investments to drive their R&D activities and expansion plans.
They strive to develop a cost-competitive portfolio and cost-effective manufacturing techniques. They also try to improve their market performance by acquiring promising companies from emerging regions to expand in the rapidly growing markets.
Players leading the OLED microdisplay market are LG Display Co., Ltd. (South Korea), Samsung Electronics Co., Ltd (South Korea), Sony Corporation (Japan), Dresden Microdisplay GmbH (Germany), Kopin Corporation (US), OSRAM Licht AG (Germany), Himax Technologies, Inc. (Taiwan), Holoeye Photonics AG (Germany), Yunnan OLiGHTEK Opto-Electronic Technology Co., Ltd (China), Silicon Micro Display Inc. (US), eMagin Corporation (US), Seiko Epson Corporation (Japan), MicroVision Inc. (US), Industrial Technology Research Institute (ITRI) (Taiwan), OmniVision Technologies Inc. (US), Fraunhofer FEP (Germany), Vuereal (Canada), Cea-Leti (France), JBD Inc. (US), Jasper Display Corp. (US), Texas Instruments Inc. (US), and WINSTAR Display Co., Ltd (Taiwan) among others.
Industry/ Innovation/ Related News
August 13, 2020 —— eMagin Corporation (the US), a leader in the development, design, and manufacture of Active Matrix OLED microdisplays used in Military & Commercial AR/VR devices, and other near-eye imaging products, announced that it has been awarded two new patents for its Direct Patterning Display (dPdTM) technology. The new patents, granted by the US Patent & Trademark Office, relate to the methods and fabrication of OLED microdisplays, using eMagin’s proprietary direct patterning technology.
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