The near-eye display market size is projected to reach USD 5.3 billion by 2027, at a CAGR of 24.7% during the forecast period. Increasing use of OLEDoS micro displays 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 industry.
By technology, TFT LCDs
to capture larger share of near-eye display market in 2021
In 2021, TFT LCD
technology captured the largest share of the market. The displays based on this
technology are light in weight, compact in size, have high resolution, and
consume low power. Also, these displays can be mass-produced and extensively
adopted in VR devices. These factors drive the growth of the market for
near-eye displays based on TFT LCD.
VR Devices hold the
larger share of the near-eye display market in 2021
VR devices led the
market in 2021. These devices are powered by near-eye display-based HMDs to
provide a fully digital experience that simulates a three-dimensional
environment in the real world.
Near-eye displays are
highly adopted in VR devices as these displays are affordable and can be
mass-produced by players from China, Japan, and India. VR devices have
revolutionized the applications from the consumer sector by allowing users to
immerse themselves in a highly simulated environment.
Consumer vertical is
projected to hold the largest share in 2027
In 2027, the consumer
vertical is projected to capture the largest share of the near-eye display
market.
This growth is
attributed to the high adoption of near-eye display-based VR devices in gaming
consoles, which help provide immersive and realistic gaming experiences to
users. Moreover, the rising demand for near-eye display-based AR and VR devices
in sports and entertainment, navigation, and other applications will spur the
growth of the market for the consumer vertical.
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In 2027, Asia Pacific is
projected to hold the largest share of the overall near-eye display market
The market in Asia
Pacific is expected to grow at the highest CAGR owing to the high adoption of
AR and VR technologies by the consumer and medical verticals in countries such
as China, Japan, and India.
The market growth in
China is attributed to the fact that the country is one of the largest consumer
electronics markets in Asia Pacific. The easy availability of lightweight and
cost-effective near-eye display-based HMDs in Asia Pacific would lead to high
adoption of these products in consumer applications, encouraging more companies
from the region to invest in AR and VR HMDs. These factors are likely to
augment the growth of the market in the near future.
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