Near-to-eye (NTE) device-based applications like augmented reality (AR)/virtual reality (VR), consumer electronics including camera and mobile phones, heads-up display (HUD), and full-color projection devices are being equipped with microdisplays to offer better experience to customers in the gaming and media and entertainment industries. Thus, the increasing adoption of AR/VR devices in these industries will fuel the sales of microdisplays in the coming years.

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Similarly, the growing adoption of HUDs in the automotive and military industries will also escalate the usage of microdisplays in the future. Soaring demand for HUDs along with the advent of advanced driver-assistance system (ADAS) will propel the market of microdisplay at a CAGR of 13.4% during the forecast period (2020–2030). As per P&S Intelligence, the market stood at $1.0 billion in 2019, and it will reach $4.0 billion by 2030.

ADAS has become an essential part of automobiles and is being integrated in both commercial and passenger vehicles. The stringent government regulations for road safety have boosted the sales of ADAS solutions, especially in Japan, China, and the U.S. Currently, the automobile and consumer electronics industries are increasing the usage of organic light-emitting diode (OLED) microdisplays, as these offer a compact size with high-pixel density.

The OLED microdisplays are being widely installed in televisions, smartphones, wearable devices, and fitness and sports devices to provide better picture quality. Additionally, these sectors are also integrating liquid crystal display (LCD) microdisplays, as these consume less power, have compact size, and are available at low price. The LCD displays are mostly used in thermal-imaging glasses, HUDs, wearable products, electronic viewfinders (EVFs), and head-mounted displays (HMDs).