Micro Display Market – Overview
Micro Display Market Revenues valued at USD 1.8 billion are expected to be earned by the market by the end of 2023 with a 14 % CAGR.
The increasing use of display devices is promoting the stake for micro displays. Reports that explore the semiconductor and electronics industry have been presented by Market Research Future, which produces reports on industry verticals that appraise the market expansion and prospects.
The collective investments being made towards research and development is promoting the micro display market. The advancements in micro display technology to provide a better viewing experience are influencing the market greatly. Furthermore, the mounting demand for improved reality displays and high resolution is anticipated to push the market in the upcoming years.
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The important contenders operating in the micro display market globally are Kopin Corporation (US), Himax Technologies, Inc. (Taiwan), HOLOEYE Photonics AG (Germany), Seiko Epson Corporation (Japan), RAONTECH (South Korea), WiseChip Semiconductor Inc. (Taiwan), Syndiant (US), Jasper Display Corp. (Taiwan), Dresden Micro Display GmbH (Germany), Yunnan OLiGHTEK Opto-Electronic Technology Co., Ltd. (China),Japan Display Inc. (Japan), Microtips Technology, LLC (US), MICROOLED (France), and eMagin Corporation (US) among others.
Aug 2019 Lextar Electronics Corp is launching an original series of mini-LED products prepared for mass production, with I-Mini Blue. The newest mini-LED backlighting series spans wide applications such as gaming monitors, TVs, laptops, automotive displays and virtual reality (VR), indicating Lextar’s speed in positioning mini-LED backlighting applications.
The micro display market is segmented on the basis of product, end-users, technology, and region. On the basis of product, the micro display market is segmented into headsets, EVF, Projectors, smart glasses, HMD, and others. On the basis of technology, the micro display market can be segmented into LCD, OLED, LCoS and DLP among others. Out of these segments, the OLED segment accounted for the principal market share chiefly due to heightened features and improved power efficiency. On the basis of end-users, the micro display market is segmented into commercial, consumer, electronics, healthcare, industrial, defense, aerospace, automotive, education, and others. Based on the regions, the micro display market consists of APAC, North America, Europe and others.
The expansion of the resources required to withstand against competition has enhanced significantly leading to a record progress rate. The market has obtained an incremental stride in the past few years, which is emphasized by the accomplishments in terms of valuation. The motive of properly bolstering the global economy is being driven through the development of this market as well. The global administrations have also contributed substantially towards the development of the market in current years. Also, the competition being noticed in the market is not unfavorable to the distinct player’s progress in the market. The market is well equipped to navigate the shifting tides, abrupt upheavals, and unexplored waters in the global economy. The fiscal inflows in the market are being focused towards growing the inventions in the central product offering presented in the market so that the development doesn’t go off in the approaching period. The rise of sponsors in the market has put on an essential role in the advancement of the market. The decrease in the barriers to trade is anticipated to extend innovative areas for development in the forthcoming years.
Detailed Regional Analysis
The regional scrutiny of the micro display market includes regions such as APAC, North America, Europe, and others. Among the region, the North American region is responsible for the principal market segment from nations such Canada and the U.S. among others. The growing demand for projectors by the educational organizations and increasing usage of progressive technologies. Though, the Asia Pacific region is anticipated to develop over the forecast period. The reason is accredited to the rising demand for high-end technology and boosting the sale of consumer electronics such as smartphones and tablets.
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