Increasing Applications in Various Sectors Driving the Global Microdisplay Market Through 2020, Says Technavio

LONDON--()--The global microdisplay market is expected grow at an impressive CAGR of 24% during the period 2016-2020, according to Technavio’s latest report.

In this report, Technavio covers the market outlook and growth prospects of the global microdisplay market for 2016-2020. The report covers the entire range of microdisplay technologies and considers the revenue generated from the sales of microdisplays to the key customer segments: military, aerospace and defense; commercial; industrial; medical; law enforcement and rescue; and automobile.

“The global microdisplay market will grow primarily due to the increased adoption of heads up display (HUDs) and head-mounted display (HMDs) across different sectors. The unique user experience created with the use of microdisplays is the prime factor for its adoption. Augmented reality devices use microdisplays in their projection units. These devices are mostly used in the consumer electronics, healthcare, and military and defense sectors. The popularity of Google Glass will see significant growth, which will drive the growth of the global microdisplay market,” says Sunil Kumar Singh, a lead analyst at Technavio for IT professional services research.

Technavio’s research study segments the global microdisplay market into the following regions:

  • Americas
  • EMEA
  • APAC

Americas: largest market for microdisplays

The microdisplay market in the Americas is expected to achieve a CAGR of over 22% during the forecast period. The Americas made a significant contribution to the market revenue because of the increasing popularity and awareness of microdisplays in the region, particularly in North America. The Americas will remain the market's largest contributor during the forecast period, with the US being the main revenue contributor.

Rapid advances in technology, and an increasing number of consumers that are technologically proficient have led to the demand for microdisplays in different sectors in the region. In addition, there is a high concentration of HUD and HMD manufacturers because of the increasing demand from the military, defense, and aerospace sector in the Americas. In this sector, microdisplays are used in night vision goggles, thermal imaging devices, situational awareness devices, and rifle scopes.

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EMEA: high demand from automotive sector to boost growth

The microdisplay market in EMEA is expected to post a CAGR of over 20% during the forecast period. In this region, the presence of electronic device manufacturers is low, but the presence of manufacturers that operate in the automotive segment, particularly HUDs, is high. The revenue contribution from EMEA was higher than that of APAC in 2015 and 2016. However, APAC will overtake EMEA in terms of revenue contribution from 2017 onward primarily because of the increased concentration of the vendors operating across the microdisplay value chain in APAC.

With the standardization of this technology and the increasing awareness about the uses of microdisplays, the adoption of this technology in the emerging markets of North Africa, Nigeria, and Sub-Saharan Africa will boost the market during the forecast period. The UAE, the UK, Germany, and Turkey, too, will contribute to market growth during the forecast period.

APAC: fastest growing market for microdisplays

The microdisplay market in APAC will grow at a CAGR of approximately 32% during the forecast period. The advances in terms of technological adoption and changing consumer behavior in countries such as South Korea, Taiwan, Japan, and China has resulted in the increased demand for microdisplays in the region.

The majority of the growth will come from countries such as South Korea, Japan, and China, mainly because of the increased adoption of microdisplay devices in the consumer electronics sector in these countries. In addition, the decline in the ASPs and the increased presence of electronics manufacturers in APAC will fuel the growth of the global microdisplay market. “The availability of low-cost skilled labor is another major factor that will contribute to the market growth in APAC,” says Sunil.

The top vendors in the global microdisplay market highlighted in the report are:

  • AU Optronics
  • eMagin
  • Kopin
  • Universal Display

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About Technavio

Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

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Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com

Release Summary

The global microdisplay market is expected grow at an impressive CAGR of 24% during the period 2016-2020, according to Technavio’s latest report.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com