OLED Microdisplay Market – Overview
The global OLED microdisplay market is increasingly garnering traction. OLED technology is far superior to LED and LCD in terms of low power consumption. As a result, OLED microdisplays' popularity is rising rapidly, replacing the LEDs and LCDs from various consumer devices such as TVs, smartphones, and others. Besides, advances in display technologies drive the market growth. Also, OLED microdisplays are increasingly preferred and adopted in media and advertisement sectors.
Moreover, the growing demand for energy-efficient display panels for small devices such as smartphones and others escalate market growth. According to Market Research Future (MRFR), the global OLED microdisplay market valuation is poised to reach over USD 2,240.2 MN by 2023. In 2017, the market had registered USD 654.4 MN value, which would appreciate further at a whopping double-digit CAGR of 23.4% throughout the assessment period (2017-2023).
Growing adoption of these displays in industries such as automotive & aviation, consumer electronics, media & entertainment, aerospace & defense, and education substantiate the market demand. Also, OLED microdisplays are rapidly replacing LCD panels from hospitals and airports to leisure centers and control rooms. Moreover, with technological upgrades, many advanced models are introduced in the market. The increasing size of the OLED microdisplays with high resolution spurs market sales.
Resultantly, the OLED microdisplay market is growing rapidly, registering impressive growth records worldwide. Additionally, significant investments made by industry players to bring more advancement in these displays pay off well, fostering the market growth. Besides, the increasing industrialization and urbanization increase the OLED Microdisplay Market share.
Also, the improving economy worldwide boosts market growth, enhancing consumer purchasing power, and lifestyles. Conversely, the high cost of OLED microdisplays is a major factor projected to impede the development of the market. Nevertheless, technological advances expected in the recent future would support market growth, bringing about many cost-effective solutions to minimize OLED microdisplays' cost.
The key players in the OLED Microdisplay Market are identified across all the major regions based on their country of origin, presence across different regions, recent key developments, product diversification, and industry expertise. Some of them are— Sony Corporation (Japan), LG Display Co., Ltd. (South Korea), Samsung Electronics Co., Ltd (South Korea), OSRAM Licht AG (Germany), Dresden Microdisplay GmbH (Germany), Kopin Corporation (US), Yunnan OLiGHTEK Opto-Electronic Technology Co., Ltd (China), Himax Technologies, Inc. (Taiwan), Holoeye Photonics AG (Germany), Seiko Epson Corporation (Japan), Silicon Micro Display Inc. (US), eMagin Corporation (US), OmniVision Technologies Inc. (US), MicroVision Inc. (US), and WINSTAR Display Co., Ltd (Taiwan). These players contribute a major proportion towards market growth.
Apart from the top key players, the other players contribute nearly 30–35 % in the OLED microdisplay market. These include Innovative and others. Fraunhofer Fep (Germany), Industrial Technology Research Institute (ITRI) (Taiwan), Cea-Leti (France), JBD Inc. (US), Vuereal (Canada), Jasper Display Corp. (US), Texas Instruments Inc. (US) among others.
OLED Microdisplay Marketing: Segmental Analysis
The global OLED microdisplay market is segmented into product, resolution, vertical, and region.
- By Product
- , the market is segmented into near-to-eye devices, head mounted displays, head-up display, and others.
- By Resolution
- , the market is segmented into HD, full HD and others.
- By Vertical
, the market is segmented into automotive, consumer electronics, media, entertainment & sports, retail, aviation, aerospace & defense, education, and others.
- By Region
, the OLED microdisplay market is segmented into North America, Europe, Asia-Pacific, and rest of the world.
Global OLED Microdisplay Market: Regional Outlook
The market for spectrum analyzer is estimated to grow at a significant rate during the forecast period from 2018 to 2023. The geographical analysis of spectrum analyzer market is studied for North America, Europe, Asia-Pacific, and the rest of the world (including the Middle East, Africa, and Latin America).
Asia-Pacific dominates in terms of revenue generation during the forecast period. Owing to the presence of major display device manufacturers and increased adoption of smartphones and smartwatches, the demand of microdisplay with OLED technology is increasing. Moreover, North America region is also growing with the second highest growth rate. Countries such as the US and Canada are heavily investing in smart homes and smart city initiatives which is increasing the demand of microdisplay to be used in commercial spaces.
TABLE OF CONTENTS
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.3 Research Objectives
2.4 Markets Structure
3 Research Methodology
4 Market Landscape
4.1 Porter’s Five Forces Analysis
4.1.1 Threat Of New Entrants
4.1.2 Bargaining Power Of Buyers
4.1.3 Threat Of Substitutes
4.1.4 Segment Rivalry
4.1.5 Bargaining Power Of Suppliers
4.2 Value Chain/Supply Chain Of OLED Microdisplay
5 Market Landscape
5.2 Growth Drivers
5.3 Impact Analysis
5.4 Market Challenges
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