[183 Pages Report] The AR/VR Display Market size was estimated at USD 4.20 billion in 2023 and expected to reach USD 4.93 billion in 2024, at a CAGR 17.99% to reach USD 13.37 billion by 2030.
Augmented reality (AR) and virtual reality (VR) are immersive technologies that allow users to experience a different reality. AR overlays digital information on real-world elements, whereas VR creates a completely immersive environment that shuts out the physical world. These technologies utilize AR/VR display systems to deliver interactive and visually compelling experiences. The increasing usage of these technologies in applications ranging from gaming to e-commerce has accelerated the demand for AR/VR displays. The rise of remote work and the increased need for virtual collaboration tools, particularly in the ongoing COVID-19 pandemic situation, has spurred the demand for AR and VR display technologies. In retail and e-commerce, these technologies have allowed businesses to offer virtual trial rooms, product demos, and enhance consumer shopping experiences. However, the complex manufacturing process and high cost associated with the device impede their development. Market players are working on developing quality display technologies that are also cost-effective to address these concerns. As technology continues to evolve, we can expect more display functionality sophistication, including resolution improvements, field of view, and overall user comfort. In the coming years, AR and VR can be utilized for simulation-based training, remote surgery, patient care, and therapeutic treatment, showcasing their potential to redefine traditional medical practices.
Technology: Exponential adoption of VR technologies built with fully immersive displays
AR technology combines the physical world with digital enhancements, overlaying information or objects onto the user’s real-world view. The key aspect of the AR display is that it allows users to remain aware of the physical environment while interacting with digital content. AR displays can be categorized into three types: head-up displays (HUD), handheld displays, and Spatial Displays. Each display type has a unique strength, with HUDs being used primarily in automotive and aviation industries, handheld displays on smartphones and tablets, and spatial displays on smart glasses or similar wearables. On the other hand, VR technology positions users within a completely digital environment, disconnecting them from the physical world. Unlike AR display, VR requires a fully immersive display that presents a 360-degree digital surrounding to users. Two primary types of VR displays widely used in the market are head-mounted displays (HMDs) and cave automatic virtual environments (CAVE), which provide room-sized VR experiences, popular in research and commercial contexts.
Device: Rising investments in 3D holograms to enhance AR/VR technology
Holograms embody the epitome of advanced digital reality, with potential spanning industries from retail to healthcare. Crisp, realistic AR/VR displays are intrinsic to the successful execution of 3D holographic projections. As global companies enter to offer holograms, the requirement for detailed and clear AR/VR displays continues to soar, promising immense commercial opportunities in the future. Head-up displays (HUD) lend an advantage to multiple sectors, notably defense and automotive, by enabling operators to view essential data without distraction. Consequently, the necessity for high-resolution, efficient AR/VR displays cannot be undermined. The steady increase in the utilization of HUDs, particularly in car cockpit systems and aircraft, is expected to boost their market value significantly in the coming years. In the realm of projectors, AR/VR displays impact film, events, and education industries by providing a dynamic, viewer-centric experience. Aside from visual quality, AR/VR displays for projectors must facilitate coherent distortions and illuminations, contingent on environmental conditions. This functionality is the future of projectors and is thus fostering research and development in the sector.
Display Technology: Improved image quality of liquid crystal displays for AR/VR applications
Digital light processing (DLP) technology utilizes a complex system of small mirrors to project images onto a screen. These mirrors correspond to pixels and can rapidly tilt to produce either light or dark shades, yielding an excellent contrast ratio. This technology has been widely used in cinema projection and home theater systems. In AR/VR space, DLP has the potential to provide high-speed, high-resolution, and efficient optical solutions due to its robust color accuracy and fast refresh speeds. Liquid crystal display (LCD) is a pervasive display technology that employs liquid crystals sandwiched between two sheets of polarizing material. The crystals’ alignment is controlled electronically, which determines the amount of light that passes through and creates the image. While being less expensive than other solutions, LCDs may struggle with response speed and deep black levels, factors that are critical to immersion in the AR/VR realm. Liquid crystal on silicon (LCOS) is a reflective technology that modulates light using liquid crystals layered over a silicon chip. It merges the high resolution of LCD with the high contrast and smooth image quality of DLP. However, LCOS can be more expensive, limiting its consumer application in the AR/VR market. Micro-LED displays involve the use of tiny LEDs, thousands of times smaller than conventional LEDs, to create the individual pixel elements. This technology is valued for its potential to deliver superior brightness, lower energy consumption, and increased longevity. Organic light-emitting diodes (OLED) are a revolutionary display technology that uses a thin film of organic material to produce light when subjected to an electric current. OLEDs offer superior contrast ratios, vibrant colors, and fast refresh rates. With the ability to be flexible and thin, they have found extensive use in AR/VR displays.
End-User: Extensive utility of AR/VR displays in aerospace & defense industries
In aerospace and defense industries, AR/VR displays are used for advanced simulation training, maintenance, planning for missions, and crisis management. High-quality, ultra-realistic displays are needed to accommodate the complexities inherent in these operations. AR/VR displays in automotive industries comprise the development and testing of new designs, recreating on-road scenarios for safe driving practices, and improving the customer experience in showrooms by presenting a complete digital view of cars. Businesses leverage AR/VR displays for meetings, 3D visualizations for architectural designs, and interactive advertising. They require high-definition, interactive displays that can deliver a seamless user experience. High consumer demand exists for AR/VR displays in gaming, entertainment, online shopping, and social interactions. Displays that excel in response time and visual fidelity can significantly improve the user’s immersive experience in these applications. AR/VR displays are beneficial in education for conducting virtual field trips, in-depth learning of complex subjects, and enhancing student engagement. Displays for educational use prioritize interactivity, ease of use, and safety measures. In the energy sector, AR/VR displays assist in simulations for risky operations, disaster management, and training workers in remote locations. The need here centers on robustness, accuracy, and provision for real-time updates and collaboration. For enterprises, AR/VR displays play a crucial role in product design, personnel training, data visualization, and virtual collaboration spaces. Displays necessitate advanced features allowing multiple user interactions and secure data sharing. In the healthcare industry, AR/VR displays for surgical simulations, patient education, pain management, and rehabilitation. The demand for these displays is primarily for precise high-resolution images, haptic feedback, and adherence to stringent medical compliance standards.
Regional Insights
The Americas, particularly the United States and Canada, are at the forefront of the thriving AR/VR display technology industry. The region is a hub of innovation, owing to major tech companies investing heavily in AR/VR research & development. The Americas hold a major share of global market value in AR/VR displays and overlooks large-scale production of AR/VR displays, especially for the gaming, healthcare, and military sectors. Asia is the fastest-growing region in the global AR/VR display market, specifically China, Japan, and South Korea. Asian electronic companies have entered the AR/VR market, boosting the production and usage scenario of displays, and are steady contributors to the substantial growth of the industry. Particularly, Japan and South Korea are predominantly invested in using AR/VR technology in tourism, entertainment, and education. Europe is home to several key companies in the AR/VR display industry, contributing significantly to the industry’s growth. The region encompasses several companies introducing high-resolution displays to cater to the demands of the AR/VR market. In the Middle East & Africa, there is an increasing level of interest and ongoing investments in AR/VR technology in countries such as the UAE and Saudi Arabia, portraying an immense need for displays.
FPNV Positioning Matrix
The FPNV Positioning Matrix is pivotal in evaluating the AR/VR Display Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
Market Share Analysis
The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the AR/VR Display Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
Key Company Profiles
The report delves into recent significant developments in the AR/VR Display Market, highlighting leading vendors and their innovative profiles. These include Apple Inc., AU Optronics Corp., Augmedics, Barco N.V., BOE Technology Group Co., Ltd., eMagin Corporation, Google LLC by Alphabet Inc., Holoeye Photonics AG, Innolux Corporation, Jasper Display Corp., Kopin Corporation, Kura Technologies, Lenovo Group Limited, LG Display Co., Ltd., Magic Leap, Inc., Meta Platforms, Inc., Mojo Vision, Niantic, Raontech, Samsung Electronics Co., Ltd., Seiko Epson Corporation, Sony Group Corporation, STMicroelectronics N.V., TCL Technology Group Corporation, TeamViewer, Virtual Realities, LLC, Vuzix Corporation, and Wave Optics Limited by Snap.
Market Segmentation & Coverage
This research report categorizes the AR/VR Display Market to forecast the revenues and analyze trends in each of the following sub-markets:
- Technology
- AR
- VR
- Device
- HMD
- Hologram
- HUD
- Projectors
- Display Technology
- DLP
- LCD
- LCOS
- Micro-LED
- OLED
- End User
- Aerospace & Defense
- Automotive
- Commercial
- Consumer
- Education
- Energy
- Enterprise
- Healthcare
- Application
- Advertising & Marketing
- Gaming
- Maintenance
- Manufacturing
- Simulation & Training
- Sports & Entertainment
- Region
- Americas
- Argentina
- Brazil
- Canada
- Mexico
- United States
- California
- Florida
- Illinois
- New York
- Ohio
- Pennsylvania
- Texas
- Asia-Pacific
- Australia
- China
- India
- Indonesia
- Japan
- Malaysia
- Philippines
- Singapore
- South Korea
- Taiwan
- Thailand
- Vietnam
- Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom
- Americas
The report offers valuable insights on the following aspects:
- Market Penetration: It presents comprehensive information on the market provided by key players.
- Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.
- Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.
- Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.
- Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.
The report addresses key questions such as:
- What is the market size and forecast of the AR/VR Display Market?
- Which products, segments, applications, and areas should one consider investing in over the forecast period in the AR/VR Display Market?
- What are the technology trends and regulatory frameworks in the AR/VR Display Market?
- What is the market share of the leading vendors in the AR/VR Display Market?
- Which modes and strategic moves are suitable for entering the AR/VR Display Market?
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