The advancement in display technology has been robust. Liquid crystal display (LCD), light-emitting diode (LED), and active-matrix organic light-emitting diode (AMOLED) display are a result of innovation in the backend technologies of display such as the silicon and semiconductors. Liquid crystal on silicon (LCoS) is also one of the benchmarks that the display technology has come across. LCoS was introduced to enable high-definition rear-projection with high display quality at a low-cost on a large screen. Liquid crystal on silicon, also known as microdisplay due to its miniaturized display is a reflective active-matrix liquid crystal display generally used for structured illumination. LCoS has a wide range of application in numerous end-user industries such as the automotive, aviation, consumer electronics, healthcare, and military. The technology was initially applied in televisions, but its applications have expanded in recent years that include optical pulse shaping, wavelength selective switching, near-eye display, optical 3D measurement, and a heads-up display. LCoS display is gaining popularity owing to the improved quality, greater performance, and compatibility with multiple products. The growing demands for high-resolution display from various end-user verticals are anticipated to boost the LCoS market. The global liquid crystal on silicon market size was evaluated to be $2.1 billion as of 2018. Considering the robust demands for high-quality display from around the world, the global Liquid Crystal on Silicon Market is expected to witness a growth at an above-average CAGR of 14% during the forecast period of 2019 to 2025.
Consumer Electronics Burgeoning the Global LCoS market
The LCoS market is witnessing the maximum demands from the consumer electronics sector, and the opportunities in the same are projected to grow at an exceptional CAGR of 23% during the forecast period. LCoS is used in projectors, heads-up display (HUD), head-mounted display (HMD), and cameras. The head-mounted display is used for training and simulation purposes in the military and defense mostly; however, its applications base is escalating to sports, medicine, research, video, and gaming segments. Moreover, LCoS is applied in near-eye display commodities such as cameras and pico projectors. These products are popular in the automotive, aviation, and the entertainment industry. The increasing prevalence of projectors during mass-audience events such as sports, movie premiers, and concerts are driving the global LCoS market.
Asia-Pacific: Remunerative Region in the LCoS Market
APAC is considered as the manufacturing hub for the consumer electronics industry and also is considered as the biggest consumer base for the electronics products segment. The gradually rising economic status and increasing disposable income among the populous are responsible for the growing demands in the consumer electronics market. The APAC region was observed as the most profitable region in the LCoS market in 2018 and was accountable for 40% of the total market share. The prevailing smart technologies such as the Internet of Things (IoT), automation, cloud computing, and artificial intelligence with their implementation in electronic component manufacturing has further reinforced the projections of the consumer electronics industry. Accelerated demand for products such as optical and digital imaging equipment, projectors, monitors, and television sets are burgeoning the APAC consumer electronics business. Additionally, digital photography components are registering a noticeable demand in the region, thereby inducing substantial traction in the regional liquid crystal on silicon market.
LCoS Market Trends
HUD: Head-up display (HUD) is a transparent display that projects a seamless view of critical and valuable details for the pilots. A digital heads-up display is trending in the aviation and the aerospace industries; this digital HUDs projects information in the line-in-sight of the pilot, on-screen or through a separate display. The liquid crystal on silicon is used as a hardware element to build heads-up display equipment. The global aerospace HUD market is flourishing at a considerate pace owing to its increased adoption in the aviation sector and government policies supporting the application of HUDs in the aircraft for safety purposes. Other than the aerospace industry, the HUDs are also being employed in the automotive sector for the emerging autonomous vehicle (AV), electric vehicle (EV), and existing premium vehicle segments. This prolific growth in the automotive and the aerospace industry are subjected to induce substantial profits in the global LCoS market.
Projection Display for Digital Signage: Digital signage is an electronically organized display installed on large-sized monitors or digital screens. These electronic signage displays are used for outdoor advertising, way-finding kiosks, wall-signs, and electronic menu boards. These displays are highly reliable and effective for marketing and advertising purposes. Advertisers are actively looking for new techniques to attract and engage customers with their services and products. Innovations in this product led to the development of projection-based digital signage. Integrating projection technology is conceived as a further step in the digital signage to upsurge the efficacy of signage solutions and deliver a more engaging and real experience towards its audience. Digital light processing (DLP) devices are beginning to penetrate the display market, mostly in the retail sector for advertising and marketing purposes. These projectors use display chips known as digital micromirror devices to meet the system application and requirements. Also, these digital light processing projectors use the light crystal on silicon components to project static and dynamic images. Therefore, the growth in the retail sector catalyzed by provoking advertising and marketing is benefitting the global LCoS market.
Augmented Reality (AR) and Virtual Reality (VR): Virtual reality and augmented reality are witnessing an increased implementation into existing consumer electronics applications. The AR and VR devices manufacturers are incorporating high-resolution display to optimize the customer experience during gaming and video streaming. The AR and VR devices are gaining popularity in both the developing and developed economies. One of the highest potential driven AR devices is smart glasses. Google Glass is one such device that is gaining traction among the populous. These glasses use liquid on crystal silicon for an illuminated display of information on the transparent lenses of the Google Glass. Deliberately, the demands for such AR and VR products are evident to grow considerately in the upcoming years, which is further expected to support the global LCoS market.
Liquid Crystal on Silicon (LCOS) Market Competitive Landscape
The companies operating in the liquid crystal on silicon market are 3M, Canon Inc, LG Electronics Inc., Forth Dimension Displays Ltd., JVC Kenwood Corporation, Pioneer Corporation, Himax Display Inc, MicroVision Inc., Sony Corporation, SiliconMicroDisplay Inc.
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A. Microdisplays Market
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