The global MEMS microdisplay market size is expected to reach USD 16,761.0 Million in 2032. The MEMS microdisplay market is growing rapidly. As per FMI Analysts, the global MEMS microdisplay market is estimated to be valued at USD 2,836.0 Million in 2022 and is projected to increase at a CAGR of 19.4% in the forecast period from 2022 to 2032.
| Report Attribute | Details |
|---|---|
| MEMS Microdisplay Market Estimated Base Year Value (2021) | USD 2375.21 Million |
| MEMS Microdisplay Market Expected Market Value (2022) | USD 2,836.0 Million |
| MEMS Microdisplay Market Anticipated Forecast Value (2032) | USD 16,761.0 Million |
| MEMS Microdisplay Market Projected Growth Rate (2022 to 2032) | 19.4% CAGR |
A type of MEMS microdisplay is an electronic screen that can display high-resolution data in magnified display systems. Due to their size, microdisplays are used with augmentation optics to display large amounts of information. Microdisplays can be used for projection or near-to-eye applications.
Microdisplays are in such high demand due to their benefits and additional features that they are overtaking LCD and LCoS displays. Wearable devices, head-up displays (HUDs), smart glasses, and head-mounted displays (HMDs) are creating demands for MEMS microdisplays.
The increasing use of augmented reality (AR) devices is predicted to enhance the demand for MEMS microdisplays in the display market. The increasing use of microdisplays in various industries like military and aerospace has created lucrative opportunities in the MEMS microdisplay market.
The LCoS shelf life of MEMS microdisplay products is a restraining factor on the growth of the MEMS microdisplay market. The number of near-to-eye applications is the latest trend in the microdisplay market.
The MEMS Microdisplay Market sector is now increasingly confident about enhancing its global profile by launching strategies, such as targeting marketing, CSR programs, etc. A significantly observable trend in the MEMS microdisplay market is that the companies now look to manage a given business-related activity in countries with favorable regulations.
The continuous advancement in DMDs (digital micromirror devices) makes projection-based display technology possible. North America is predicted to hold the largest market share in the MEMS Microdisplay market. Europe and Asia Pacific are projected to contribute significantly over the forecast period as well.
Meanwhile, several key players of the MEMS Microdisplay Market sector are increasingly involved in setting up joint ventures, acquisitions, and/or collaborations for the purpose of maximizing their target market bases by being able to connect with them both on a global and national scale.
These practices substantially reduce the cost of operations while hiring industry specialists at every critical juncture of the respective business. Authorities in emerging countries such as India, China, Taiwan, and Indonesia, etc. are enacting policies to increase foreign investment and jobs in the manufacturing sector by lowering trade tariffs and duties.
With this element combined with favorable developments in developing nations of the Asia-Pacific region such as India, China, Taiwan, Indonesia, etc., we anticipate a boost in business prospects for companies during this forecast period.
The MEMS microdisplay market has received a lot of traction in the industry.
MEMS microdisplays, also called MEMS screens, are high-resolution screens used in magnified displays, and because of their size are usually used with augmenting optics. Microdisplays can also be used in other simple applications such as projections and near-eye displays.
The Microdisplay market is booming due to the benefits and additional features offered by OLED displays. In addition to their ability to overtake LCD and LCD and LCOS technologies, wearable devices, head-up displays (HUDs), smart glasses, and head-mounted displays (HMDs) have created a demand for microdisplay technology.
Currently, microdisplays are widely used on near-to-eye devices such as HMDs, camcorder viewfinders, video phones, and digital camera viewfinders. Innovative microdisplay technologies are used in areas such as military & defense, aerospace, healthcare, and industrial purposes, which has also driven the growth of the MEMS microdisplay market.
Increased penetration of augmented reality (AR) devices will lead to a demand increase for MEMS microdisplays in the display market. Rising demand from the military and aerospace industries, along with numerous players in the market, has created strong demand for MEMS microdisplays.
The Microdisplay market restraining factor is the shorter shelf life of LCoS, resulting in a lack of acceptance of MEMS microdisplay products. Near-to-eye applications are growing in number, restraining market growth.
Europe is expected to contribute significantly to the global market over the forecast period.
Currently, the European MEMS microdisplay market is likely to hold a share of 23.2% as it witnesses robust growth, owing to the product’s microlevel resolution and transmissive displays, which drives the adoption.
The demand for MEMS microdisplays is basically governed by the rising demand from the defense and aerospace sectors.
In addition to this, the growing need to bring improvements in the flexibility for defense-related activities and gathering real-time information is necessitating the adoption of MEMS microdisplays in Europe.
North America is forecasted to dominate the global MEMS microdisplay market with a share of 33.8%, owing to the continuous development of MEMS-based DMDs (digital micromirror devices) that are enabling projection-based display technology to be integrated into a variety of applications.
The ongoing development of MEMS-based DMDs (digital micromirror devices), which is opening up opportunities to incorporate projection-based display technology across various applications is likely to boost the growth of the North American market.
The education sector is increasingly utilizing ICT technology, which is altering traditional classroom instruction and, as a result, spurring regional market expansion.
Increased spending on microdisplay technologies, such as night vision HUDs and thermal imaging, is a result of the USA government's high military spending.
The majority of recent MEMS developments are housed within startups, which is an interesting fact.
When many new MEMS developments were on the verge of crossing the chasm in the 1998 to 1999 time frame, the situation was quite similar to what it is today, when these products are mature MEMS with large volume markets.
Alternatives to TI's Digital Light Processing (DLP) technology are being developed by Miradia Inc. (Santa Clara, California) and Reflectivity Inc. (Sunnyvale, California) for a variety of front- and rear-projection displays.
Up to two additional startups are also pursuing the use of tiny mirrors integrated into microelectromechanical systems (MEMS) to compete with TI's expanding high-end TV and business projector market share.
Some of the leading companies operating in the global MEMS microdisplay market include Texas Instruments, Iron City Micro Display, MicroVision Inc, Cardiocomm Solutions, Casio America, Inc., Cellnovo Limited, Covidien plc, EM Microelectronic-Marin SA, Jawbone Inc. and STMicroelectronics N.V., etc.
MEMS Microdisplay Market companies are now more engaged with promotional activities such as CSR programs, targeted marketing, etc. to boost their global recognition. A trend that is becoming increasingly popular is that these organizations now aim to process economic activities in countries with favorable regulations.
In addition, several key market players in the global MEMS Microdisplay Market have been focused on setting up joint ventures, acquisitions, and/or collaborations in order to expand their respective consumer bases. By doing so, they stand to increase their given market share by being able to cater to these consumers both globally and domestically.
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 19.4% from 2022 to 2032 |
| Base Year for Estimation | 2021 |
| Historical Data | 2015 to 2021 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD Million and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | Material, Application, Display Technologies, Region |
| Regions Covered | North America; Latin America; Western Europe; Eastern Europe; Asia-Pacific; Japan; Middle East and Africa |
| Key Countries Profiled | USA, Canada, Argentina, Mexico, Brazil, Rest of Latin America, Germany, France, United Kingdom, Spain, Italy, Nordic, Benelux, Rest of Western Europe, Russia, Poland, Rest of Eastern Europe, Australia and New Zealand (A&NZ), China, India, ASIAN, Rest of Asia Pacific, Japan, GCC Countries, North Africa, South Africa, Rest of the Middle East and Africa |
| Key Companies Profiled | Texas Instruments; Iron City Micro Display; MicroVision Inc; Cardiocomm Solutions; Casio America, Inc.; Cellnovo Limited; Covidien plc; EM Microelectronic-Marin SA; Jawbone Inc.; STMicroelectronics N.V |
| Customization | Available Upon Request |
The global MEMS microdisplay market is set to exceed USD 16,761.0 Million in 2032.
The USA is projected to lead the MEMS microdisplay market in the forecast period.
Texas Instruments, Iron City Micro Display, MicroVision Inc, and others are some of the renowned companies in the MEMS microdisplay market.
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