CHICAGO, May 9, 2022 / PRNewswire / – According to a research report “Near-Eye Display Market by Technology (TFT LCD, OLEDoS, LCoS, MicroLED, AMOLED, DLP, Laser Beam Scanning), Device Type (AR, VR), Vertical (Consumer, Medical, Aerospace & Defense, Automotive) and Geography – Global Forecast to 2027 “published by MarketsandMarkets ™, the global Near-Eye Display Market size is estimated to be USD 1.7 billion in 2022 and projected to reach USD 5.3 billion by 2027, at a CAGR of 24.7%. Surging investments and innovations from the technology giants, and emergence of the Metaverse play a key role in driving the growth of near-eye display market in near future.
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Application of OLEDoS technology in VR and MR devices stimulates market growth
Advanced features offered by OLEDoS technology, such as power efficiency, compactness, and no requirement for external illumination and its use in AR and MR devices and EVFs are likely to result in surged demand for this technology during the forecast period. Also, the technology has better specifications in terms of resolution and size than other technologies deployed in near-eye displays. Hence, the technology is projecting to the largest share in 2027.
Increasing application areas of AR devices to accelerate demand for near-eye displays
The utilization of near-eye display-based AR devices in the consumer, medical, and automotive sectors is expected to augment the growth of the near-eye display market for AR devices. AR devices are projected to become a popular choice by users from the consumer vertical; therefore, companies plan to expand their presence in the consumer sector. Thus, these developments would propel the growth of the AR devices segment of the near-eye display market in the near future
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Asia Pacific likely to emerge as the largest near-eye display market
Asia Pacific is estimated to be the largest market for near-eye display market during the forecast period. The Asia Pacific market is principally driven by the presence of many key companies along with emerging number of startups in the region. The easy availability of lightweight and cost-effective near-eye display-based HMDs are 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 thereby propelling the near-eye display market.
Sony Group Corporation (Japan), Himax Technologies, Inc. (Taiwan), Kopin Corporation (US), eMagin Corporation (US), MICROOLED Technologies (France), BOE Technology Group Co., Ltd. (China), Syndiant, Inc. (US), Plessey (England), JBD Xianyao Display Technology (China), TriLite Technologies GmbH (Austria) are some of the key players in the Near-eye Display market.
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