AR/VR Display Market by Technology (AR, VR), Device (HMD, Hologram, HUD), Display Technology, End User, Application - Global Forecast 2024-2030

AR/VR Display Market by Technology (AR, VR), Device (HMD, Hologram, HUD), Display Technology, End User, Application - Global Forecast 2024-2030

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.

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.

Market Insights

• Market Dynamics
  
  The market dynamics represent an ever-changing landscape of the AR/VR Display Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.
  • Market Drivers
    • Increasing Adoption of AR/VR Devices
    • Growing Demand for Head-Mounted Displays (HMDs) and Head-up Displays (HUDs)
    • Integration of Organic Light-Emitting Diode Microdisplays for Augmented Reality/Virtual Reality Applications
    • Market Restraints
      • Complex Manufacturing Process and High Cost Associated with the Device
      • Market Opportunities
        • Advancements and Transformation of the Gaming Industry
        • Noticeable Investments in AR and VR Ecosystem
        • Market Challenges
          • Health Risks Associated With the use of AR/VR Devices
          • Market Segmentation Analysis
            • Technology: Exponential adoption of VR technologies built with fully immersive displays
            • Device: Rising investments in 3D holograms to enhance AR/VR technology
            • Display Technology: Improved image quality of liquid crystal displays for AR/VR applications
            • End-User: Extensive utility of AR/VR displays in aerospace & defense industries
            • Market Disruption Analysis
            • Porter’s Five Forces Analysis
            • Value Chain & Critical Path Analysis
            • Pricing Analysis
            • Technology Analysis
            • Patent Analysis
            • Trade Analysis
            • Regulatory Framework Analysis
            FPNV Positioning Matrix
            
            The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the AR/VR Display Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment 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, namely 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 assessment of the current state of vendors in the AR/VR Display Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. 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 these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
            
            Recent Developments
            • Samsung Display Acquires Technology for Next-gen VR Displays
              
              Samsung Display has acquired eMagin, a display company valued at USD 218 million. One of the key highlights of eMagin's OLED microdisplays is their potential to replace current LCD VR displays. With the acquisition, the company planned to bring this cutting-edge display technology to the market and potentially supply it to various companies that are involved in producing mixed reality headsets.
              
              VoxelSensors, OQmented Announce AR/VR Partnership
              
              VoxelSensors, a 3D perception technology firm, has partnered with OQmented, a leading AR/VR display and 3D sensing firm. This partnership aims to leverage VoxelSensors' proprietary sensor architecture along with OQmented's Lissajous scan pattern.
              
              Google Acquires MicroLED Display Startup for Future AR Headsets
              
              Google LLC by Alphabet Inc. has acquired Raxium, a startup specializing in single panel MicroLED display technologies. This acquisition is part of Google's effort to build next-generation augmented/virtual and mixed reality headsets.
            Strategy Analysis & Recommendation
            
            The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the AR/VR Display Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.
            
            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
                                
                                
                                Please Note: PDF & Excel + Online Access - 1 Year