The Asia Pacific Microdisplays Market would witness market growth of 27.5% CAGR during the forecast period (2021-2027).
Due to the increasing use of microdisplays in diagnostic equipment such as CT scanners, ECG machines, medical imaging machines, and other devices, the medical industry is expected to witness higher demand for microdisplays in the upcoming years. In addition, microdisplays made of Organic Light-Emitting Diode (OLED) are frequently employed in monochrome night-vision systems for military applications such as thermal imaging, situational awareness, and soldier training.
Some of the growth catalysts for this industry are the growing popularity of smartwatches and fitness trackers among consumers for a variety of applications such as health monitoring, lifestyle assistance, entertainment, and fitness monitoring. Moreover, the introduction of microdisplay-based holographic displays would help the industry in the upcoming years.
Some of the common trends of the region are rapid industrialization, as well as the existence of a significant number of OEMs and customers. The key regional industries that significantly use microdisplays are consumer, industrial & enterprise, automotive, and military, defense & aerospace. The existence of a large number of microdisplay producers in APAC has also resulted in lower microdisplay prices and increased microdisplay-based device adoption in the area.
The China market dominated the Asia Pacific Microdisplays Market by Country 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $455.2 million by 2027. The Japan market is anticipated to grow a CAGR of 26.7% during (2021 - 2027). Additionally, The India market would exhibit a CAGR of 28.2% during (2021 - 2027).
Based on Product Type, the market is segmented into Near-to-Eye, Projection Based, and Others. Based on Application, the market is segmented into Consumer Electronics, Military & Defense, Medical, Industrial, Automotive, Retail & Hospitality, Sports & Entertainment, and Others. Based on Resolution, the market is segmented into HD & FHD, and Others. Based on Technology, the market is segmented into LCD, LCoS, DLP, and OLED. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Microdisplays Market is Projected to reach USD 4.4 Billion by 2027, at a CAGR of 27.4%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Sony Corporation, Seiko Epson Corporation, eMagin Corporation, Kopin Corporation, Himax Technologies, Inc., HOLOEYE Photonics AG, Yunnan OLiGHTEK Opto-Electronic Technology Co., Ltd., WiseChip Semiconductor, Inc., Raystar Optronics, Inc., and Winstar Display Co. Ltd.
By Product Type
By Application
By Resolution
By Technology
By Country
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