The OLED microdisplay market is expected to register a CAGR of over 19%, during the forecast period (2019 - 2024). OLED microdisplays offer a compact size with high pixel density. The market is witnessing growth in demand, owing to the increased use of microdisplays in devices, such as smartphones, television, etc. Moreover, low entry barriers and growing revenue avenues are the prominent attributes to the OLED microdisplay market.
- The launch of virtual reality headsets is distorting the line between digital and physical worlds and is generating a sense of being present in the virtual environment, which is accelerating the growth of the OLED microdisplay market.
- Advancements in the heads-up display (HUD) provide additional information to the driver while driving. The demand for OLED microdisplay in automotive industries is increasing, while the use of VR and AR for automotive prototyping in virtually designing a car is also supporting the market demand.
- The increasing number of near-to-eye applications is boosting the growth of the market.
Scope of the Report
The scope of the report includes insights on the solutions offered by major players which include near to eye, and projections, applications are limited to automotive, healthcare, industrial, consumer electronics, military, and law enforcement.
Key Market Trends
Consumer Electronics to Have a Major Share
- The digital camera evolution has helped the microdisplay market to innovate and evolve. The demand from the customer to have a display with a clearer image, wide view angle and to overcome the limitations of assisted the OLED microdisplay to capture the market.
- The increasing disposable income of consumers has increased the demand for innovative and luxury products. Entertainment has become a medium for these products, which is reflecting the adoption of new display technologies. Consumer Electronics such as virtual reality, digital cameras are witnessing growth in adoption. This is expected to reflect the growth of the market studied in consumer electronics.
- Sony, a leading manufacturer of OLED microdisplay, has used and developed the product in their digital cameras. The scope of the product usage is high with the microdisplay being developed in various standard sizes and research going on to develop stretched display.
The United States to Hold Significant Share
- The United States is expected to be one of the fastest-growing markets in the world for AR & MR in the near future. Most of the companies advancing in this technology are based in the United States. Leading players, like Microsoft and Magic Leap, are actively working on this technology, using the United States as their base.
- The United States is one of the largest markets for the media and entertainment industry as well. For example, Microsoft HoloLens is a breakthrough in mixed reality technology. Also, the United States is a pioneer in the technology space across the world. High technology exposure and easy availability of devices have created a strong market for smart devices in North America.
The global OLED Microdisplay market is moderately competitive. Various established international brands, domestic brands and as well as new entrants form a competitive landscape. The major players are increasingly seeking market expansion through various strategic mergers and acquisitions, innovation, increasing investments in research and development.
- March 2018: Sony Corporation released ECX339A OLED Microdisplay featuring UXGA (1600 x 1200 resolution). It has the smallest pixel pitch of 6.3μm and a resolution 1.6x higher than the previous model. It features optimized transistors layout and process to address uneven characteristics and loss of withstand voltage, the issues associated with transistor miniaturization.
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