Boston, MA 02/24/2014 (wallstreetpr) – MicroVision Inc (NASDAQ:MVIS) today affirmed that its patented display technology called PicoP has been taken as part of a pico projector module which is being developed by a leading Fortune Global 100 company.
Pico Projectors
MicroVision Inc (NASDAQ:MVIS) is continuously supporting the Fortune Global 100 consumers electronics company in developing the high definition display engine since April 2013. The module aims at highlighting the advantages of laser beam scanning technology for the company’s pico projectors. MicroVision Inc (NASDAQ:MVIS), which is a leading innovator in ultra-miniature projection display technology, is the pioneer in the technology. It holds more than 500 patents which include proprietary MEMS and control algorithms. The Fortune Global 100 company a leading semiconductor lasers and optical technology company, has plans to launch the module in the market for employment in pico projectors. The company expects to use the module in other devices also which are equipped with projector functionality.
Emerging Technology
Pico projector is believed to be an emerging technology which has the potential to revolutionize the global projector market, as described by the firm Markets and Markets. MicroVision Inc (NASDAQ:MVIS) sees the announcement by the Fortune Global 100 leader in consumer electronics to be an optimistic approach for the growing pico projection market. The company’s President and Chief Executive Officer, Alexander Tokman expressed his gratitude towards the consumer electronics company for having incorporated the PicoP tdisplay technology in its pico projector module. He said that this would results in a display engine which would have excellent image quality and would provide outstanding performance.
The market research report issued by Markets and Markets forecasts a growth of more than 40% CAGR in a period of 7 years and it expects to reach $10 billion in 2020. The report further points the vital role of lasers to be the key technology which would assist in the growth of pico projector market.
