During the period of 2011 through 2016, the total micro-displays market is expected to have a compound annual growth rate (CAGR) of 31.82 percent, with that market’s annual value expected to reach $995 million by 2016.
The report—Global Micro-Displays Market, By Technology, Products & Applications (2011 - 2016)—by MarketsandMarkets, says with the number of innovations taking place in the technology of micro displays, the market is expected to grow exponentially during the next five years at a considerable compounded annual growth.
Fueled by applications in the automotive industry, and by other technologies such as digital holograms—which the report says will be commercialized within three years—the demand for products that use microdisplays is increasing, according to the report. Companies are now shifting towards using organic light-emitting diode (OLED) technology, and research is underway towards reducing the cost of manufacturing tiny displays, the report says.
By region over the next five years, the micro-displays market in North America is expected to continue to grow at a CAGR of 21.78 percent, and in Europe at a CARG of 20.87 percent.
In addition, the micro-displays markets in Japan, China and South Korea are expected to have tremendous growth and lead the market during the next five years, the report says.