The global microdisplays market size was US$ 705 million in 2020. The global microdisplays market is forecast to reach the value of US$ 3756 million by 2030 by growing at a compound annual growth rate (CAGR) of 35.2% during the forecast period from 2021-2030. 

The microdisplays are compact and small size displays that need magnifying optics. A microdisplay size is generally less than two inches diagonal. 

Covid-19 Impact Analysis

The COVID-19 outbreak had adversely disrupted the trade of electronics and automotive. Moreover, raw materials were unavailable during the pandemic because of bans on import-export activities. Thus, it disrupted the production activities. Many R&D activities were stopped or postponed for a longer time than expected. As a result, it created a major loss in the global microdisplays market. On the contrary, the market witnessed a significant demand for microdisplays from the healthcare industry. Microdisplays are used in CT scans and other medical activities. Thus, in the medical sector, the market witnessed significant recovery. 

Factors Influencing

• The growing demand for advanced driver-assistance systems (ADAS), mainly for passenger and commercial vehicles, is the primary factor driving the growth of the global microdisplays market. 
• The growing adoption of advanced microdisplays due to their size and quality is forecast to create favorable opportunities for the market players. 
• Benefits, such as high resolution and excellent picture quality, may fuel the market growth during the forecast period. 
• Growing demand for Near-To-Eye (NTE) Applications may generate considerable demand from the end-users. The increasing demand for augmented reality devices, including smart glasses and head-mounted displays, may propel market growth. High-resolution microdisplays are integrated with the magnifying optical system and used in sectors such as military & defense, consumer electronics, and medical applications. Thus, the market would grow in these sectors. 
• The high manufacturing cost associated with the microdisplays is forecast to hamper the growth of the overall market. 
• The COVID-19 pandemic surged the demand for microdisplays, mainly in the healthcare sector. The device is used for CT scans, ECG machines, oxygen meters, etc. Thus, the advancements in the healthcare sector are forecast to fuel the growth of the global microdisplays market.

Geographic Overview

Regionally, the Asia-pacific region holds the dominant position in the global microdisplays market. It is due to the presence of a high number of microdisplays manufacturers contributing to revenue generation. Moreover, the increasing demand for ADAS, mainly from the automobile sector, may create lucrative opportunities for the market players. In addition, North America is forecast to register rapid growth because of the growing adoption of ICT technologies in the educational sector. Apart from that, the rising acceptance of microdisplays devices in the defense and aerospace sector is forecast to increase the regional contribution in the global market. 

Competitors In The Market

• Sony Corporation
• Seiko Epson Corporation
• eMagin
• Kopin Corporation
• Yunnan OLiGHTEK Opto-Electronic Technology Ltd
• Himax Technologies, Inc.
• Syndiant
• UNIVERSAL DISPLAY
• AU Optronics Corp.
• Micron Technology, Inc.
• Other prominent players

Market Segmentation

By Product:

Near-to-Eye (NTE) Devices

Electronic Viewfinder (EVF)/Camera

HMD

AR HMD

VR HMD

HUD

Projector Pico Projector

Data Projector

Others (Monocular and Binocular Systems, Rifle Scopes, Thermal Imaging Glasses, and Medical Equipment)

By Technology:

• LCD
• LCoS
• OLED
• DLP

By Resolution:

• Lower than HD
• HD
• FHD
• Higher than FHD

By Brightness:

• Less than 500 Nits
• 500 to 1,000 Nits
• More than 1,000 Nits

By Industry:

• Consumer
• Industrial & Enterprise
• Automotive
• Military, Defense, and Aerospace
• Sports & Entertainment
• Retail & Hospitality
• Medical
• Education

By Region

• North America
• The U.S.
• Canada
• Mexico
• Europe
• Western Europe
• The UK
• Germany
• France
• Italy
• Spain
• Rest of Western Europe
• Eastern Europe
• Poland
• Russia
• Rest of Eastern Europe
• Asia Pacific
• China
• India
• Japan
• Australia & New Zealand
• ASEAN
• Rest of Asia Pacific
• Middle East & Africa (MEA)
• UAE
• Saudi Arabia
• South Africa
• Rest of MEA
• South America
• Brazil
• Argentina
• Rest of South America