Global Microdisplay Market Size to worth USD 15.45 Billion by 2033: Forecast Analysis Report

Global Microdisplay Market Size to worth USD 15.45 Billion by 2033

According to a research report published by Spherical Insights & Consulting, The Global Microdisplay Market Size is Expected to Grow from USD 2.39 Billion in 2023 to USD 15.45 Billion by 2033, at a CAGR of 20.52% during the forecast period 2023-2033.  

Browse key industry insights spread across 210 pages with 110 Market data tables and figures & charts from the report on the Global Microdisplay Market Size, Share, and COVID-19 Impact Analysis, By Product (Near-To-Eye, Projection, and Others), By Technology (Liquid Crystal Display (LCD), Organic Light-emitting Diode (OLED), Digital Light Processing (DLP), and Liquid Crystal on Silicon (LCoS)), By Application (Consumer Electronics, Military & Defense, Medical Applications, Industrial Systems, Automotive, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033.     

A microdisplay is a small, high-resolution electronic display panel with a typical screen size of less than two inches diagonal. They are found in digital camera viewfinders, head-mounted displays (HMDs), and rear-projection televisions and their data projector counterparts. Major factors driving the microdisplay market's growth include the growing demand for advanced microdisplays like microLED and OLEDoS, the growing deployment of head-mounted displays in automotive applications, the growing adoption of head-mounted displays (HMDs), and the growing demand in wearable and near-to-eye devices. The advancements in micro-LED technology with the integration of artificial intelligence are offering lucrative market growth opportunities. The widespread adoption of AR and VR devices across various sectors including gaming, healthcare, and retail is driving the market growth. However, the shorter shelf life of LCoS hindering the adoption of MEMS microdisplay products are contributing to restraining the market.

The near-to-eye segment dominated the market with the largest revenue share in 2023.

Based on the product, the microdisplay market is classified into near-to-eye, projection, and others. Among these, the near-to-eye segment dominated the market with the largest revenue share in 2023. Due to the high pixel density of the near-to-eye display, which produces outstanding resolution and clarity, it is increasingly utilized in the military and medical fields. The advancement in microdisplay technology including improved OLED and LCOS panels that have increased color accuracy and resolution are driving the market in the near-to-eye segment.

The liquid crystal display (LCD) segment is anticipated to hold the largest market share during the forecast period.

Based on the technology, the microdisplay market is classified into liquid crystal display (LCD), organic light-emitting diode (OLED), digital light processing (DLP), and liquid crystal on silicon (LCoS). Among these, the liquid crystal display (LCD) segment is anticipated to hold the largest market share during the forecast period. LCD microdisplays are in high demand in cameras/EVFs and projectors. The widespread use of LCDs in consumer electronics, including laptops, gaming systems, cellphones, computers, televisions, and mobile devices is driving the market expansion.

The consumer electronics segment held the largest revenue share of the microdisplay market in 2023.

Based on the application, the microdisplay market is classified into consumer electronics, military & defense, medical applications, industrial systems, automotive, and others. Among these, the consumer electronics segment held the largest revenue share of the microdisplay market in 2023. Microdisplay adoption was accelerated by consumer demand for smartphones, smartwatches, and digital cameras with high-resolution screens. The rising demand for advanced consumer electronics including digital camera viewfinders, head-mounted displays, and smartphones is driving the market growth.

North America is estimated to hold the largest share of the microdisplay market over the forecast period.

North America is estimated to hold the largest share of the microdisplay market over the forecast period. The growing availability and accessibility, the existence of several manufacturing organizations that use microdisplays in their product development, and rising technological breakthroughs and innovations in microdisplays are some of the major factors propelling market expansion. Furthermore, the regional market growth is driven by the growing use of AR/VR and the increased need for high-resolution displays.

Asia Pacific is predicted to have the highest CAGR growth in the microdisplay market over the forecast period. The growing application of microdisplay in aerospace, medical, and consumer electronics in countries like Japan, South Korea, and China is driving market growth. The use of electronic equipment, such as HMDs, for efficient and real-time information collecting has grown as a result of the requirement to expand operational flexibility in defense-related operations, thereby propelling the market.

Company Profiling

Major key players in the global microdisplay market include Sony Group Corporation, Seiko Epson Corporation, Kopin Corporation, Himax Technologies, Inc., SeeYA Technology, LG DISPLAY CO., LTD, eMagin. (SAMSUNG DISPLAY), AUO Corporation, Micron Technology, Inc., MicroVision, and Others.

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Development

• In June 2024, LG Display, the world’s leading innovator of display technologies, announced that it has started mass production of the industry’s first 13-inch Tandem OLED panel for laptops. The company is targeting the OLED market with the higher performance and lower power consumption of Tandem OLED technology.

• In January 2024, Kopin Corporation, a leading provider of application-specific optical systems and high-performance micro-displays for defense, enterprise, consumer and medical products, and MICLEDI Microdisplays, a fabless semiconductor design and technology company developing microLED displays for Augmented Reality (AR), announced a strategic agreement to work together to design, develop, and manufacture advanced microLED displays to provide a more immersive and information-rich AR experience for use in high-brightness light conditions.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the microdisplay market based on the below-mentioned segments:

Global Microdisplay Market, By Product

• Near-To-Eye
• Projection
• Others

Global Microdisplay Market, By Technology

• Liquid Crystal Display (LCD)
• Organic Light-emitting Diode (OLED)
• Digital Light Processing (DLP)
• Liquid Crystal on Silicon (LCoS)

Global Microdisplay Market, By Application

• Consumer Electronics
• Military & Defense
• Medical Applications
• Industrial Systems
• Automotive
• Others

Global Microdisplay Market, By Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa