OLED Microdisplay Market worth USD 537.0 million by 2027

The Market Statsville Group (MSG) publishes the new report on the "OLED Microdisplay Market by Type (Near-to-eye and Projections), by End-Use (Automotive, Healthcare, Industrial, Consumer Electronics, Military, and Law Enforcement), by Region – Global Share and Forecast to 2027". The global OLED microdisplay market size is expected to grow from USD 123.9 million in 2020 to USD 537.0 million by 2027, at a CAGR of 27.6% during the forecast period. Compared to LCOS, DLP, and LCD technologies available in the market, OLED technology offers high resolution, low latency, higher contrast, and picture quality. The demand for OLED microdisplays is increasing. OLED pixels produce light and do not require lighting sources, such as LEDs for LCD screens. This technology provides control on a pixel-by-pixel basis, increasing the users' picture quality. This is increasing the adoption of technology by various vendors in the market. Power consumption becomes an essential factor for smaller devices, such as wearables and head-mounted devices, which run on batteries. OLED technology comparatively consumes less power over its closest competitor technologies, driving the adoption of the technology in microdisplays.

Global OLED Microdisplay Market Segmentation

The overall OLED microdisplay market has been segmented into type, end-use, and region.

• By Type (Near-to-eye and Projections)
• By End-Use (Automotive, Healthcare, Industrial, Consumer Electronics, Military, and Law Enforcement)
• By Region (US, Canada, Mexico, UK, Germany, France, Italy, Spain, China, Japan, India, South Korea, Southeast Asia, Australia, Saudi Arabia, UAE, South Africa, Qatar, Nigeria, Israel, Brazil, Argentina, Peru)

Military, by end-use, is estimated to hold the largest market share during the forecast period

By end-use, the global OLED microdisplay market is segmented into automotive, healthcare, industrial, consumer electronics, military, and law enforcement. The military segment generated the highest revenue of 40.1% of the total global OLED microdisplay market in 2020, and it is expected to register a significant CAGR from 2021 to 2027. The military end-user industry segment encompasses military, aviation, and defense. OLED microdisplays are used in monochrome night-vision systems for military applications, including thermal imaging, situational awareness, and soldiers' training. The use of OLED microdisplays in avionics, simulators, and field combat is expected to positively drive the market’s growth.

The military uses VR in all three major fields – Navy, Air, and Ground forces for flight and battlefield simulations, medical training, vehicle simulation, and virtual boot camps. The military and defense sector was one of the first end-users to adopt VR technologies for training and simulation purposes. The military has adopted virtual reality in parachuting simulation, the disorientation of jumping from an aircraft, thereby gaining awareness about the sensation, without the associated real-world flight costs.

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North America accounts for the largest market share in the OLED microdisplay market 2020

Based on the regions, the global OLED microdisplay market has been segmented across North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. In 2020, North America accounted for the highest market share of 35.5% in the global OLED microdisplay market and was anticipated to maintain its dominance throughout the forecast period. The United States is expected to be one of the fastest-growing markets globally for AR and MR in the near future. Most companies advancing in this technology, including leading players, like Microsoft and Magic Leap, are based in the United States. Facebook recently acquired Scape, an AR company building a digital 3D map of the physical world. As investment in AR becomes increasingly rapid by big tech, it significantly contributes to the market studied.

Display brightness is critical for AR and VR devices because of ambient light, optics inefficiency, and the need to eliminate motion artifacts. This is especially important for Heads Up Displays (HUDs) used in bright, daylight environments. In August 2020, eMagin Corporation announced that it had been awarded two new patents for its Direct Patterning Display technology. The new patents relate to the methods and fabrication of OLED microdisplays using eMagin's proprietary direct patterning technology and can overcome the existing display limitations of the VR/AR market.

This research report includes a study on the development and marketing strategies, along with a study on the product portfolios and winning strategies of the leading companies operating in the OLED microdisplay market. It also consists of leading companies such as Winstar Display Co. Ltd., eMagin Inc., Kopin Corp., WiseChip Semiconductor Inc., MicroOLED SA, Yunnan Olightek Optoelectronic Technology Co. Ltd., Seiko Epson Corp., Fraunhofer FEP, Sunlike Display Technology Corp, and Sony Semiconductor Solutions Corp.

Browse complete report: https://www.marketstatsville.com/oled-microdisplay-market

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