OmniVision Integrated Circuits Group(SH:603501) Chan Ye Xin Xi Wang·2025-09-25 01:55Core Insights - The demand for high-end electronic products, particularly high-end smartphones, tablets, and wearable devices, is increasing in China, providing significant market opportunities for the silicon-based liquid crystal (LCOS) industry [1][4] - The LCOS market in China is projected to grow, with a demand of 239,700 units in 2024 and an expected increase to 374,000 units by 2025, indicating a robust growth trajectory [4][5] Industry Overview - LCOS, or Liquid Crystal on Silicon, is a small-sized matrix liquid crystal display device based on a reflective mode, utilizing CMOS technology on silicon chips [2] - The LCOS industry can be categorized into spatial color LCOS and temporal color LCOS, with the latter being the mainstream product due to its high optical efficiency and pixel density [3] Market Size and Growth - The LCOS market in China is expected to reach a scale of 157.5 million yuan in 2024, with the projection field accounting for 106.4 million yuan and the HUD field for 43.725 million yuan [4] - By 2025, the market size is anticipated to grow to 231.192 million yuan, with significant contributions from the projection and HUD sectors [4] Industry Chain - The LCOS industry chain includes upstream materials such as silicon substrates and liquid crystal materials, midstream production, and downstream applications in consumer electronics, automotive electronics, and projection [6][7] Competitive Landscape - The LCOS industry is in a growth phase, with a competitive landscape characterized by both international leaders and domestic companies focusing on niche markets [8] - Key international players include Himax, JasperDisplay, and Sony, while domestic companies like ChipSight and Jingfan are making strides in AR/VR and automotive HUD applications [8] Development Trends - The LCOS technology is expected to advance towards higher resolutions and broader color gamuts, with potential applications expanding into smart home, commercial display, and medical imaging sectors [9][12] - The trend towards miniaturization and high-density integration is evident, with companies like OmniVision introducing micro-modules that meet the demands of wearable devices [10][11] Application Expansion - The primary market for projectors remains in home entertainment, but new growth areas are emerging in commercial, educational, and automotive sectors [13] - The near-eye display market, particularly in AR/VR, is poised for rapid growth, driven by advancements in technology and the rise of the metaverse concept [13]