A recent report published by Infinium Global Research on near eye display market provides in-depth analysis of segments and sub-segments in the global as well as regional near eye display market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional near eye display market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global near eye display market. According to the report, the global near eye display market is projected to grow at a CAGR of nearly 25% over the forecast period of 2022-2028.
The revenue generated by the near eye display market was about USD 1.7 billion in 2022 and is expected to reach over USD 6.7 billion in 2028 and is expected to grow with a CAGR of nearly 25% over the forecast period 2022-2028. A virtual image is produced in the field of vision of one or both eyes via near eye displays (NED), often referred to as head-mounted displays (HMD) or wearable displays. The virtual image looks to be far away and considerably larger than the comparatively modest display panel and optics that produced it. Traditional speakers are large, difficult to move, and provide a shared listening experience. Conversely, earbuds and headphones are portable, small, and offer a customized listening experience. Similar to televisions, monitors are large, heavy, and cumbersome to move, making for a shared viewing experience. The display industry's equivalent of headphones, near eye displays let users design small, portable, and intimate viewing experiences.
Due to advanced features such as higher contrast, negligible image smearing, and faster response time OLEDs, micro displays are gaining momentum. As they are widely used in EVFs and HMDs they have outperformed conventional LCD and LCOs micro display technologies. The adoption of near eye displays in new devices such as smart glass, VR devices, imaging devices, and others is growing. This adoption is significant as near eye display technologies are at the core of these devices. Furthermore, the growing applications of near eye display in the aerospace and defense field is another factor boosting the growth of the market. The health effects of near eye display on the eyes such as visual distortions are expected to hamper the growth of the market. Growing investments in the R&D of new innovative products are expected to offer growth opportunities.
North America market accounted for a significant share of the market share of the near eye display market. Asia-Pacific is expected to be the fastest-growing region in the market. Due to the consumer and medical verticals' extensive use of AR and VR technology in nations like China, Japan, and India, the adoption of near eye displays is expected to grow significantly in Asia-Pacific. The demand for near eye displays is expected to surge for defense applications in Asia-Pacific. North America is expected to hold a significant share of the market as the region has tech giants such as Meta, Apple and Microsoft who are working on various AR/VR technologies using near eye display.
The report on global near eye display market covers segments such as technology, device type, and end-user vertical. On the basis of technology, the sub-markets include TFT LCD, OLEDs, LCoS, micro-LED, AMOLED, DLP, and laser beam scanning. On the basis of device type, the sub-markets include AR, and VR. On the basis of end-user vertical, the sub-markets include consumer, medical, aerospace & defense, and automotive.
The report provides profiles of the companies in the market such as Sony Group Corporation, Himax Technologies, Inc., Kopin Corporation, JBD Xianyao Display Technology, TriLite Technologies GmbH, MICROOLED Technologies, BOE Technology Group Co., Ltd., Syndiant, Inc., Plessey, and eMagin Corporation.
The report provides deep insights into demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of near eye display market. Moreover, the study highlights current market trends and provides forecast from 2022-2028. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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