The report on the global near eye display market provides qualitative and quantitative analysis for the period from 2021-2030. The revenue generated by the near eye display market was USD 1.75 billion in 2022 and is expected to reach USD 11.09 billion in 2030 and is expected to grow with a CAGR of 25.97% over the forecast period 2023-2030. The study on near eye display market covers the analysis of the leading geographies such as North America, Europe, Asia Pacific, and RoW for the period of 2021-2030.
Near‐eye displays are an enabling vessel for VR/AR applications, which must tackle many challenges related to ergonomics, comfort, visual quality, and natural interaction. AR and VR demand is rising, and this is driving the growth of the near-eye display market. Near-eye displays are essential components of AR and VR devices, as they allow users to see digital images and objects superimposed on the real world or in a fully immersive virtual environment. Additionally, heightened military expenditures drive a surge in the demand for the near-eye display market. For instance, in 2022, India ranked as the world's third-largest military spender, with expenditures of USD 76.6 billion, comprising 3.7% of global military spending, following only the United States and China. These displays offer valuable benefits to military personnel, empowering them with advanced situational awareness, superior target acquisition capabilities, and heightened combat efficiency. Similarly, in aerospace, these devices improve situational awareness and enhance safety and efficiency in aviation and space exploration. Hence, as investment in the aerospace and defense industries rises, the demand for the near-eye display market is also likely to propel.
The OLED segment of the near-eye display market holds the largest market share. In recent years, manufacturers such as Sony Semiconductor Solutions have made substantial advancements in optimizing OLED microdisplays specifically for Augmented Reality (AR. applications, where characteristics like high brightness, excellent contrast, and low power consumption are crucial. While OLED displays have been commonly employed in various non-AR applications for some time, their significantly improved brightness now positions them as a viable alternative to DLP and LCoS technology in the AR field. OLED microdisplays provide exceptionally high resolution and brightness within compact display dimensions. Owing to their efficient power usage, small form factor, and simplified control electronics, OLED microdisplays are exceptionally well-suited for compact, energy-efficient embedded systems. In terms of response time, traditional OLED displays operate in the microsecond range, making them more than 1,000 times faster than LCoS displays, in broad terms.
The Asia Pacific region is poised to hold the largest market share in the global near-eye display market due to several key factors. Firstly, the region's immense population and expanding middle class create a substantial consumer base for products like Augmented Reality (AR. and Virtual Reality (VR. devices, which heavily rely on near-eye displays. Secondly, the presence of major tech giants and innovative startups in countries like China, Japan, and South Korea ensures a steady stream of cutting-edge research and development in this field. Furthermore, the Asia Pacific region benefits from robust manufacturing capabilities, making it a hub to produce near-eye display components, resulting in cost-effective solutions. Additionally, government support and investments in emerging technologies, along with increasing consumer awareness and adoption, further bolster the region's position in the global near-eye display market. These factors collectively position Asia Pacific as a powerhouse in this industry, with the largest market share.
Report Findings
1. Drivers
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