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Global microdisplay market: 33% CAGR growth predicted between 2012-2016
Global Microdisplay Market 2012-2016 - a new market research report on 2014-04-29 03:31:01
The Global Microdisplay market is to grow at a CAGR of 32.5 percent over the period 2012-2016. One of the key factors contributing to this market growth is the increasing adoption of augmented reality devices. The market has also been witnessing increasing number of near-to-eye applications. However, the lack of acceptance of microdisplay-based products could pose a challenge to the growth of this market.

The Global Microdisplay market is currently witnessing an increase in the number of near-to-eye application devices such as camcorder viewfinders, digital camera viewfinders, video phones, and HMDs. As these devices are integrated with microdisplays, the increase in their demand fosters the demand for microdisplays, thus driving the growth of the Global Microdisplay market. Furthermore, the demand for near-to-eye application devices stems majorly from the Consumer Electronics sector and the Military and Defense sector. Since these sectors are among the high-growth sectors, the Global Microdisplay market will have higher growth prospects during the forecast period.

The most important of the drivers in this market is the increased adoption of augmented reality products. Augmented reality products such as HMDs and HUDs use microdisplays extensively in their projection units. Thus, the increased adoption of these augmented reality products is expected to foster the demand for microdisplays.

One of the key challenges is the lack of acceptance of microdisplay-based products. As a result of the high cost and delayed launch of microdisplay-based products in the market, the adoption of such products are low among consumers. Moreover, some of the microdisplay-based devices are yet to be commercialized therefore, hindering the growth of the Global Microdisplay market.

The key vendors dominating this market space include AU Optronics Corp, eMagin Corp., Kopin Corp., and Universal Display Corp. The other vendors mentioned in this report are Hana Microdisplay Technologies Inc., Himax Display Inc., Innovega Inc., LG Display Co. Ltd., Liteye Systems Inc., MicroOLED, Microvision Inc., Syndiant Inc., WiseChip Semiconductor Inc., and Sony Mobile Display Corp.

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