According to the latest report by IMARC Group, titled “OLED Microdisplay Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global OLED microdisplay market reached a value of US$ 156.25 Million in 2021. An organic light-emitting diode (OLED) microdisplay is a compact-sized, high-resolution display. It is made using circuits and thin films of organic light-emitting materials that help control the individual pixels and emit light when electricity is applied. It is commonly available in projections and near-to-eye variants. OLED microdisplay provides super-extended graphics array (SEGA) resolution for better angle viewing and enhanced brightness. It is widely used in electrical viewfinder (EVF) for digital cameras, smart watches, smart bands, and augmented reality (AR) and virtual reality (VR) glasses. OLED microdisplay provides high speed and brilliant colors, a wide operating temperature range, no backlight and a faster refresh rate while lowering the overall power consumption.
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 OLED Microdisplay Market Trends-
The significant growth in the consumer electronics industry across the globe is creating a positive outlook for the market. OLED microdisplays are widely used in smartwatches and digital cameras to offer more explicit images and wide-view angles. In line with this, the widespread adoption of VR headsets among young consumers that are compatible with various devices, such as smartphones and glasses, to offer an improved gaming experience is favoring the market growth. Apart from this, the introduction of miniaturized and high-definition (HD) OLED microdisplays to offer exceptional contrast ratio and high optical performance is providing an impetus to the market growth. Moreover, the increasing product utilization in the military and defense sector to manufacture armed electronics due to its high-resolution display, excellent picture quality, low power consumption and compact size is positively impacting the market growth. Other factors, including the rising product demand in the automotive industry for virtual designing of vehicles, the emerging trend of medical wearables, and extensive research and development (R&D) activities, are anticipated to drive the market toward growth. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 571.31 Million by 2027, growing at a CAGR of 23.10% during 2022-2027.
- On the basis of the type, the market has been bifurcated into near-to-eye and projections.
- Based on the resolution, the market has been divided into HD and full HD.
- On the basis of the end user, the market has been classified into automotive, healthcare, consumer electronics, military, law enforcement, and others.
- Based on the region, the market has been categorized into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia and Others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and Others) Latin America (Brazil, Mexico and Others), Middle East and Africa.
- The competitive landscape of the industry has also been examined, with the profiles of the key players being eMagin Corporation, Fraunhofer FEP, Kopin Corporation, MicroOLED S.A.S. (Photonis Technologies SAS), Seiko Epson Corporation, Silicon Micro Display Inc., Sony Group Corporation, Sunlike Display Tech Corporation, Winstar Display Co. Ltd. and WiseChip Semiconductor Inc.
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