Microdisplay Market

Microdisplay Market - Proliferation of Electronics Industry to Propel Growth of
Market
Transparency Market Research (TMR) observes, the global microdisplay market is
highly conciliated due to presence of number of companies operating in the market.
Some of the key players operating in the global retail digital transformation market
are AU Optronics Corp., Universal Display Corporation, eMagin Corporation, LG
Display Co. Ltd., Seiko Epson Corporation. The market players are expected to take
part in the mergers and acquisitions by acquiring the invalid and redundant players
in the global market for microdisplay.
A report estimates, the global microdisplay market is expected to attain value of
US$1,350.2 mn by the end of 2022 with a CAGR of 10.8% over the forecast period
of 2017 to 2022. The market was valued at revenue of US$809.8 mn in 2017. Based
on type, the LCD segment was valued at US$417 mn in 2017 by accounting for the
51.5% shares in the global microdisplay market. Based on region, the Asia Pacific
excluding Japan (APEJ) is expected to attain valuation of US$580.1 mn by the end of
2022 by accounting more than 40% shares of the global market. Japan is one of the
major contributors to the global microdisplay market and is expected to expand with
a CAGR of 6.3% over the forecast period.
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Proliferation of Electronics Industry to Propel Growth of Market
Growing demand for microdisplay is predicted to continue over the forecast period
due to substantial rise of the electronics industry, from past decade. Several consumer
electronics devices such as irons, mobile phones, watches, and numerous wearable
devices which are equipped with microdisplay in order to show different readings and
parameters.
Furthermore, use of microdisplay is growing due to growing uptake of microdisplay
across the defense and aerospace sectors, which is further improving of growth the
global market for microdisplay. Additionally, smart glasses have emerged as key
product in and with important advancement in numerous industries owing to the
enhanced experiences which they offer. The tremendous popularity of virtual and
augmented reality has also been an important factor for the growth of the global
microdisplay market.
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Developing Economies to Augment Growth
Despite these factors, countries such as Japan, China, Korea, and Taiwan has
transformed the electronics industry from past decade. Surge in number of high-tech
electronics and its availability have glutted the market, originating from the
aforementioned regions to the globally. Thus, the growth of the global microdisplay
market is attributable to the technology has been survived by these emerging
economies. Besides, high demand for artificial and virtual reality in the Asia Pacific
is leading to the development of multiple industries. Additionally, the microdisplay
are available in low cost in the region which is again propelling growth of the global
microdisplay market.

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