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OLED Microdisplay Market Overview
The global OLED Microdisplay Market is likely to post impressive growth records. The rising use of ADAS & head-up displays (HUD) worldwide and the demand for wearable devices are the key market drivers. Market Research Future (MRFR) asserts that the global OLED microdisplay market value is poised to escalate from USD 0.2 BN in 2022 to USD 1.80 BN by 2032, registering a 27.69% CAGR throughout the forecast period (2023-2032).
Moreover, the wide adoption of these displays across the burgeoning industries such as automotive, consumer electronics, media & entertainment, sports, retail, aviation, aerospace & defense, and education substantiate the OLED microdisplay market size. Also, factors such as the growing demand for energy-efficient display panels for small devices such as smartphones and other devices accelerate the OLED microdisplay market shares.
OLED microdisplays are rapidly replacing LCD panels in hospitals & airports and leisure centers & control rooms. They are increasingly preferred and adopted in the sectors such as media and advertisements. With technological advancements, many different models have been introduced in the market. The growing number of models with high resolution is spurring sales, increasing the OLED microdisplay market revenues.
Significant investments by the manufacturers to bring more innovations to these displays are paying off well, fostering the OLED microdisplay market growth. Besides, factors contributing to the market growth include increasing industrialization, urbanization, and the global economy, fuelling consumers’ purchasing power and enhancing their lifestyles.
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Major Players
Leading OLED microdisplay market players include.
OLED Microdisplay Market – Segments
The market report is segmented into products, resolutions, verticals, and regions. The product segment is sub-segmented into near-to-eye devices, head-mounted displays, and head-up displays. The resolution segment is sub-segmented into HD and Full HD. The vertical segment is sub-segmented into automotive, media & entertainment, consumer electronics, sports, retail, aviation, aerospace & defense, and education. By region, the OLED microdisplay market is segmented into the Americas, Asia-Pacific, MEA, and the rest of the world.
Global OLED Microdisplay Market – Regional Analysis
The Asia-Pacific region, with giant players such as LG and Samsung, would retain its lead over the global OLED microdisplay market throughout the review period. The region is also expected to be the fastest-growing market. Additional factors positively impacting the regional market’s growth include the increased adoption of smartphones and smartwatches and the augmenting demand for microdisplays with OLED technology. Also, vast R&D investments to improve display technologies substantiate OLED microdisplay market revenues.
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OLED Microdisplay Market – Competitive Analysis
Fiercely competitive, the OLED microdisplay market appears fragmented with the presence of various dynamic and diversified international players. These players form a competitive landscape, continually innovating and seeking strategic plans such as M&A activities. Through increasing investments in R&D activities, they strive to develop a portfolio of cost-effective solutions.
Industry/ Innovation/ Related News
May 18, 2023 — Samsung Display, a leading global OLED display panel maker announced the acquisition of the US-based OLED microdisplay maker eMagin, planning to use eMagin’s technology in its AR/VR headsets. Scheduled to be completed by the second half of 2023, this acquisition aligns with Samsung Display’s strategy to expand its OLED microdisplay manufacturing to meet the growing demand for AR/VR devices worldwide.
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About Market Research Future:
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis regarding diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
