Growing Use of HUD-Integrated ADAS Driving Microdisplay Market Expansion
The global microdisplay market was valued at $1,145.6 million in 2020, and it is predicted to progress at a CAGR of 17.1% from 2020 to 2030. The major factors driving the expansion of the market are the growing use of heads-up display (HUD)-integrated advanced driver assistance systems (ADAS), owing to the rising incidence of road accidents, especially in China, the U.S., and Japan, and surging number of near-to-eye (NTE) applications. According to the Federal Motor Carrier Safety Administration (FMCSA), the U.S. launched a project to facilitate the use of ADAS in the trucking industry in 2019 due to the ability of ADAS to mitigate the prevalence of road crashes, injuries, and fatalities. The government allocating $0.65 million to the project, which is predicted to be completed by the end of 2021. Besides, the burgeoning need for microdisplays in NTE applications is also driving the microdisplay market. These screens are being increasingly adopted in NTE devices, such as per...