The Near-Eye Display Market size is projected to reach USD 5.3 billion by 2027 from an estimated USD 1.7 billion in 2022, at a CAGR of 24.7% from 2022 to 2027. Increasing use of OLEDoS microdisplays in newer applications such as projection, imaging, smart glasses and surging adoption of AR devices in different verticals are among the factors driving the growth of the near-eye display market.
Driver: Increasing use of OLEDoS
microdisplays in newer applications such as projection, imaging, smart glasses
OLEDoS microdisplays are gaining
momentum due to advanced features such as higher contrast, faster response
time, lighter weight, more compact size, negligible image smearing, and a wider
operating temperature range than LCDs. They have outperformed conventional LCD
and LCoS microdisplay technologies as they are widely used in EVFs and HMDs. In
the consumer sector, OLEDoS microdisplays are used in video and VR glasses and
EVFs to facilitate search, navigation, and daily personal activities, while the
defense sector targets AR helmets for pilots to resolve communication issues
during the battle. Many industry experts believe that OLEDoS are likely to
replace existing display technologies. Therefore, various companies have
started investing increasingly in research and development activities related
to OLEDoS technology. Kopin Corporation and SeeYA Technology Corporation are
some the key players offering OLEDoS technology-based displays.
Restraint: Health issues
associated with excessive use of AR and VR devices<
With the advent of AR-based gaming
devices, health issues among gamers are increasing. AR games are highly
interactive and keep the user engaged immensely for longer hours, causing
issues such as anxiety, eye strain, obesity, and lack of concentration. The
nature of AR technology is immersive and can induce anxiety or stress after
wearing the AR headset for longer hours. Apart from stress, AR devices also
expose users to harmful electromagnetic frequency radiation, which may cause
illness. Modern VR implementations do not consider all human senses. The
virtual reality experience may include artificial visual, aural, and even
haptic sensations, while feelings such as balance and proprioception remain
unchanged, contradicting sensory stimulation. Users may see pixels instead of
an image. Lenses can cause optical distortions, or there might be noticeable
latency or some other glitches. Sometimes the imperfections cause increased
fatigue or headaches as the brain is involved in interpreting the unusual
stimuli. Further, eyeglasses may pose problems for some users, and their
prolonged use may cause eye strain and physical fatigue for most. Therefore,
the excessive use of AR and VR devices can cause health issues, limiting the market's
growth.
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Opportunity: Increasing
investments by technology giants in development of innovative near-eye display
products
Technology giants are focused on
collaborating and partnering with companies that create and deliver value to
their customers. Companies such as Meta, Apple, Inc., Microsoft Corporation,
and Samsung Group invest heavily in developing state-of-the-art near-eye
display modules. Also, several research institutes are carrying out research in
AR technology for various products and applications. Many companies are
focusing on maximizing the features and functions of their existing products.
The application areas of near-eye displays across consumer, medical, and
aerospace & defense industries would grow with increasing investments by
giant companies, thereby resulting in the overall growth of the market.
Challenge: Minimizing latency
for AR and VR displays
Displays contribute to more than
50% of the total response delay in VR and AR devices. There will be a deviation
in the location from the exact position if there is an issue in the measurement
of the viewpoint. Thus, VR systems require minimal latency to maintain the
virtual entity in a stable position. The virtual object projection should not
delay more than 15 milliseconds while adapting to a new situation as it can
cause variation in the position of virtual objects compared to real objects.
Further, the AR systems also require minimum latency to improve the see-through
video comfort. Thus, the minimal latency for AR systems should not be more than
five milliseconds as even a little latency between the user moving, and the
virtual imagery updating can be visible and highly distracting. Thus,
minimizing latency is one of the key challenges for companies developing
near-eye displays.
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