The report "AR
and VR Display Market with COVID-19 Impact Analysis by Device Type (AR
HMDs, VR HMDs, AR HUDs, VR Projectors), Technology (AR, VR), Display Technology
(LCD, OLED, Micro-LED, DLP, LCoS), Application, and Geography - Global Forecast
to 2026", size was valued at USD 994 million in 2021 and is projected
to reach USD 5,102 million by 2026. It is expected to grow at a CAGR of 38.7%
during the forecast period. Growing adoption of AR and VR devices in various
applications, increasing demand for OLED displays in AR and VR devices, growing
adoption of AR and VR HMDs in different industries, and adoption of AR and VR
devices in gaming industry are the key driving factors for the AR and VR
display market.
HMDs to hold major share of the AR and VR
display market during the forecast period.
The use of AR HMDs
for enterprise and healthcare applications will be the major factor driving the
growth of the market in the next 5 years. AR HMDs are used in different
applications, including consumer, commercial, enterprise, aerospace & defense,
automotive, and healthcare. The use of AR HMDs in retail would drive the market
growth for AR HMDs for commercial applications. HMDs are generally used as
visual displays for AR/VR, mixed reality (sometimes referred to as hybrid
reality, encompassing both AR and VR), and telepresence applications. HMDs are
small and lightweight, offer a wide field of view and stereo capability, and
display images in accordance with the motion of the user’s head. An HMD
consists of an image projector or display, optical system, sensors, and
electronic components, along with housing, and is mounted on the user’s head
via a headband or a helmet. They can be wired or wireless. Significant
improvements in terms of mass, cost, volume, simplicity, and optical
performance are expected to boost the adoption of HMDs by customers.
Consumer application to hold major share of
the AR and VR display market during the forecast period.
The consumer
application held the largest size of the VR display market in 2020. The
introduction of VR in consumer technologies has led to the launch of many
innovative products in the market. Moreover, continuous decline in the cost of
VR devices, software developments, and relevant content developments are
driving the market for VR. The demand for AR displays for consumer applications
mainly stems from the gaming industry. AR technology has garnered considerable
interest from the gaming industry, in particular, as it can be used to enhance
gaming experience. APAC is likely to be the fastest-growing AR display market
for consumer applications during the forecast period, owing to the presence of
major display manufacturers in the region. The economic powerhouses in
Asia—China, Japan, India, Taiwan, and South Korea—would drive the growth of the
AR display market for consumer applications.
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APAC to witness a higher CAGR during the
forecast period.
The VR display
market growth in APAC is driven by countries such as China, Japan, and South
Korea due to the presence of major display manufacturers, growing consumer
demand, and decreasing price of VR devices. Owing to the presence of a number
of display panel manufacturers in the region, the adoption of the latest
display technologies is high in APAC. The use of VR displays in APAC is
expected to grow in healthcare, commercial, and enterprise verticals. The commercial
and enterprise verticals in APAC have adopted these displays at large owing to
the easy availability of VR devices in the region. Low-priced VR headsets are
easily available in APAC countries, which would, in turn, help the market in
APAC to grow at a high pace. The presence of major AR display manufacturers in
countries such as China, South Korea, Japan, and Taiwan is the major driver of
the AR display market. The region is also the largest consumer market in the
world. With growing adoption of AR HMDs in different verticals and growing use
cases of these devices, it is expected that in the coming years, the AR display
market is likely to boom in the region.
A few of the key
players in the AR and VR display market are Samsung Electronics (South Korea),
Sony (Japan), LG Display (South Korea), eMagin Corporation (US), Kopin
Corporation (US), AU Optronics (Taiwan), Japan Display (Japan), Barco
(Belgium), BOE Technology (China), and Syndiant (US).
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