Market Size of OLED Microdisplay Industry
| Study Period | 2019-2029 |
| Market Size (2024) | USD 0.73 Billion |
| Market Size (2029) | USD 7.72 Billion |
| CAGR (2024 - 2029) | 60.20 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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OLED Microdisplay Market Analysis
The OLED Microdisplay Market size is estimated at USD 0.73 billion in 2024, and is expected to reach USD 7.72 billion by 2029, growing at a CAGR of 60.20% during the forecast period (2024-2029).
- The OLED microdisplay market has been witnessing significant growth over the years. This is primarily due to the advancement of technologies such as AR/VR and the expansion of end-user industries across various regions. For instance, the transition toward 5G accelerates the demand for advanced near-to-eye devices. Further, TCL announced three of the latest AR/VR products at CES 2023. It includes products such as RayNeo X2, TCL NXTWEAR V, and TCL NXTWARE S.
- Due to contrast, power, size, and color-space advantages, NTE applications are anticipated to offer lucrative opportunities for OLED microdisplay. This relates to electronic viewfinders and personal viewers (PV). OLED microdisplay are finding widespread adoption in fields such as virtual reality (VR), augmented reality (AR), heads-up displays (HUDs), and wearable devices.
- One of the most striking features of OLED microdisplay is its high resolution. With a high pixel density, these displays offer a high level of detail, making them suitable for applications like VR headsets, augmented reality (AR) glasses, and head-mounted displays. The high resolution of OLED microdisplay ensures that users are presented with sharp, clear images, allowing for a truly immersive visual.
- The protection of OLED layers against water vapors and oxygen has been a significant challenge in developing OLED microdisplays, and it has played a role in restraining the market growth.
- The COVID-19 pandemic significantly hampered the OLED microdisplay market. The global supply chain for the parts and components used in OLED microdisplay systems was severely disrupted because of the lockdown imposed in several nations to stop the spread of the COVID-19 virus. However, as the situation returns to normal, there will be an exponential rise in demand for OLED microdisplay, which will likely propel market expansion.
