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The latest report by IMARC, titled “OLEDMicrodisplay Market:GlobalIndustryTrends,Share,Size,Growth,OpportunityandForecast2023-2028” " the global OLED microdisplay market reached a value of US$ 192.8 Million in 2022.
An organic light-emitting diode (OLED) microdisplay is a compact-sized, high-resolution display. It is made using circuits and thin films of organic light-emitting materials that help control the individual pixels and emit light when electricity is applied. It is commonly available in projections and near-to-eye variants. OLED microdisplay provides super-extended graphics array (SEGA) resolution for better angle viewing and enhanced brightness.
It is widely used in electrical viewfinder (EVF) for digital cameras, smart watches, smart bands, and augmented reality (AR) and virtual reality (VR) glasses. OLED microdisplay provides high speed and brilliant colors, a wide operating temperature range, no backlight and a faster refresh rate while lowering the overall power consumption.
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The significant growth in the consumer electronics industry across the globe is creating a positive outlook for the market. OLED microdisplays are widely used in smartwatches and digital cameras to offer more explicit images and wide-view angles. In line with this, the widespread adoption of VR headsets among young consumers that are compatible with various devices, such as smartphones and glasses, to offer an improved gaming experience is favoring the market growth. Apart from this, the introduction of miniaturized and high-definition (HD) OLED microdisplays to offer exceptional contrast ratio and high optical performance is providing an impetus to the market growth.
Moreover, the increasing product utilization in the military and defense sector to manufacture armed electronics due to its high-resolution display, excellent picture quality, low power consumption and compact size is positively impacting the market growth. Other factors, including the rising product demand in the automotive industry for virtual designing of vehicles, the emerging trend of medical wearables, and extensive research and development (R&D) activities, are anticipated to drive the market toward growth. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 670.9 Million by 2028, growing at a CAGR of 22.3% during 2023-2028.
Looking forward, the market value is projected to reach a strong growth during the forecast period (2023-2028).
MarketSummary:
BreakupbyType:
• Near-To-Eye
• Projections
BreakupbyResolution:
• HD
• Full HD
BreakupbyEndUseIndustry:
• Automotive
• Healthcare
• Consumer Electronics
• Military
• Law Enforcement
• Others
BreakupbyRegion:
• North America
• United States
• Canada
• Asia-Pacific
• China
• Japan
• India
• South Korea
• Australia
• Indonesia
• Others
• Europe
• Germany
• France
• United Kingdom
• Italy
• Spain
• Russia
• Others
• Latin America
• Brazil
• Mexico
• Others
• Middle East and Africa
CompetitiveLandscapewithKeyPlayers:
• eMagin Corporation
• Fraunhofer FEP
• Kopin Corporation
• MicroOLED S.A.S. (Photonis Technologies SAS)
• Seiko Epson Corporation
• Silicon Micro Display Inc.
• Sony Group Corporation
• Sunlike Display Tech Corporation
• Winstar Display Co. Ltd.
• WiseChip Semiconductor Inc.
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