Virtual Retinal Display Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Virtual Retinal Display Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

The global virtual retinal display market size reached US$ 14.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 108.0 Billion by 2028, exhibiting a growth rate (CAGR) of 36.3% during 2023-2028.

A virtual retinal display (VRD) refers to a head-mounted display device that utilizes low-energy lasers to directly show a picture onto the human retina. It offers user with the illusion of watching a standard-sized display floating several feet away. A virtual retinal display provides numerous benefits, such as enhanced brightness, high contrast, improved resolution, and low power consumption. As a result, it finds a wide range of applications across numerous industries, including healthcare, military, aviation and tactical, engineering, gaming and entertainment, sports, etc.

Virtual Retinal Display Market Trends:
The increasing demand for enhanced user experience, better content connectivity, and improved Field of View (FoV) while maintaining high levels of privacy is primarily driving the global virtual retinal display market. In addition to this, the rising adoption of virtual and augmented reality in the gaming sector along with the growing integration of VRD with gaming consoles, smartphones, and laptops is further propelling the market growth. Moreover, the widespread utilization of VRD in the healthcare sector with potential applications in therapeutics and surgical procedures is acting as a significant growth-inducing factor. Additionally, the elevating employment of VRD in the engineering industry for providing field employees with access to crucial information, including operational protocols and circuit diagrams, in real-time is also augmenting the growth of the market. Besides this, the expanding usage of VRD in training and simulation activities in the aerospace sector as it saves costs by mimicking the experience and eliminates the requirement for physical setup, is positively influencing the market growth. Furthermore, the extensive R&D activities for the introduction of advanced VRD technology that offers radiation protection to mitigate any health risk are also propelling the global market. In the coming years, the emerging popularity of lightweight and compact devices that create images with high resolution and in real-time is expected to drive the global virtual retinal display market.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global virtual retinal display market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on technology and application.

Breakup by Technology:

Optics
Driver and Controller Electronics
Light Source
Others

Breakup by Application:

Aerospace
Medical
Gaming and Entertainment
Sports
Training and Simulation
Others

Breakup by Region:

North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Avegant Corp., Himax Technologies Inc., Innovega Inc., Magic Leap Inc., Omnivision Technologies Inc., Optinvent, QD Laser and Vuzix Corporation.

Key Questions Answered in This Report:
How has the global virtual retinal display market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global virtual retinal display market?
What are the key regional markets?
What is the breakup of the market based on the technology?
What is the breakup of the market based on the application?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global virtual retinal display market and who are the key players?
What is the degree of competition in the industry?