The global OLED microdisplay market reached a value of US$ 156.25 Million in 2021. Looking forward, the analyst expects the market to reach a value of US$ 571.31 Million by 2027, exhibiting a CAGR of 23.10% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
An organic light-emitting diode (OLED) microdisplay refers to a miniaturized high-resolution display that offers faster response time and high contrast. Projections and near-to-eye are some of the common types of OLED microdisplay. It is manufactured using thin films of organic light-emitting materials and circuits on a silicon backplane to control the individual pixels and emit light when electricity is applied. OLED microdisplay is widely used in rear-projection televisions, electrical viewfinder (EVF) for digital cameras, electronic monocular, augmented reality (AR) and virtual reality (VR) glasses. It provides high speed and brilliant colors, low power consumption, no backlight, faster refresh rate and a wide operating temperature range. As a result, it finds extensive applications across healthcare, military, electronics, and automotive industries.
OLED Microdisplay Market Trends: The increasing product utilization in the consumer electronics industry across the globe is creating a positive outlook for the market. OLED microdisplays are widely used in digital cameras and virtual reality headsets that are compatible with various devices, such as smartphones, to offer an improved gaming experience. In line with this, the shifting consumer preference toward miniaturization of electronic devices and a display with wide-view angle and cleaner image are augmenting the market growth. Moreover, various technological innovations, such as the introduction of ultra-high-definition and high-definition (UHD/HD) OLED microdisplays that provide high optical performance with excellent contrast ratio, are providing an impetus to the market growth. Additionally, the widespread product adoption in the automotive industry for prototyping the virtual designing of the vehicle and their interiors is positively impacting the market growth. Other factors, including increasing demand for medical displays and wearables, widespread product adoption in the aerospace and defense sector for manufacturing military electronics, and the extensive research and development (R&D) activities, are anticipated to drive the market further toward growth.
Key Market Segmentation: the analyst provides an analysis of the key trends in each sub-segment of the global OLED microdisplay market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on type, resolution and end use industry.
Breakup by Type: Near-To-Eye Projections
Breakup by Resolution: HD Full HD
Breakup by End Use Industry: Automotive Healthcare Consumer Electronics Military Law Enforcement Others
Breakup by Region: North America United States Canada Asia-Pacific China Japan India South Korea Australia Indonesia Others Europe Germany France United Kingdom Italy Spain Russia Others Latin America Brazil Mexico Others Middle East and Africa
Competitive Landscape: The competitive landscape of the industry has also been examined along with the profiles of the key players being eMagin Corporation, Fraunhofer FEP, Kopin Corporation, MicroOLED S.A.S. (Photonis Technologies SAS), Seiko Epson Corporation, Silicon Micro Display Inc., Sony Group Corporation, Sunlike Display Tech Corporation, Winstar Display Co. Ltd. and WiseChip Semiconductor Inc.
Key Questions Answered in This Report: How has the global OLED microdisplay market performed so far and how will it perform in the coming years? What has been the impact of COVID-19 on the global OLED microdisplay market? What are the key regional markets? What is the breakup of the market based on the type? What is the breakup of the market based on the resolution? What is the breakup of the market based on the end use industry? What are the various stages in the value chain of the industry? What are the key driving factors and challenges in the industry? What is the structure of the global OLED microdisplay market and who are the key players? What is the degree of competition in the industry?
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