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IMARC Group’s latest report, titled “Microdisplay Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, finds that the global microdisplay market size reached US$ 1.63 Billion in 2021. Microdisplays refer to miniature displays with micro-level resolution and a diagonal screen size of less than two inches. These displays incur lower manufacturing cost and power dissipation, create large images from a lightweight and small unit, and can even integrate drivers with display chip. In recent years, manufacturers have introduced OLED-on-silicon technology that offers an improved image quality through high-resolution, bidirectional, and ultra-low-power microdisplays. OLED microdisplays have also gained immense popularity with the increasing usage of the technology in augmented reality (AR) and virtual reality (VR) applications.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Microdisplay Market Trends
Microdisplays offer various advantages over direct-view displays such as CRTs and flat-panel LCDs. Owing to this, they are incorporated in a variety of consumer electronics, notably new 3G portable communications devices, digital camera technologies, portable DVD viewers and wearable PCs. Besides this, microdisplays are utilized in several industries ranging from military and defense to automotive, medical and education. In military applications, for instance, aircraft OEMs and military aviation regulators are considering the installation of head-up-displays (HUD) in military aircraft to prevent accidents due to collisions. Moreover, the leading companies are investing in the research and development (R&D) to manufacture next-generation microdisplays with advanced technologies such optical waveguides and micro-electromechanical system (MEMS) based laser scanning, which allow them to reduce the size of HUDs. Looking forward, the market value is projected to reach US$ 5.17 Billion by 2027, registering to grow at a CAGR of 21.2% during 2022-2027
Market Summary:
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