The global AR and VR display market size was valued at USD 994 million in 2021 and is projected to reach USD 5,102 million by 2026. It is expected to grow at a CAGR of 38.7% during the forecast period. Growing adoption of AR and VR devices in various applications, increasing demand for OLED displays in AR and VR devices, growing adoption of AR and VR HMDs in different industries, and adoption of AR and VR devices in gaming industry are the key driving factors for the AR and VR display market. However, development of widescreen alternatives and limited availability of relevant content hampering the growth of the market.
HMDs to witness a higher CAGR during the forecast period. The use of AR HMDs for enterprise and healthcare applications will be the major factor driving the growth of the market in the next 5 years.AR HMDs are used in different applications, including consumer, commercial, enterprise, aerospace & defense, automotive, and healthcare.
The use of AR HMDs in retail would drive the market growth for AR HMDs for commercial applications.The increasing number of local manufacturers and the growing adoption of VR HMDs in APAC are among the major factors for the high estimated growth of VR HMDs in APAC.
Local vendors have been promoting their products at a lower price than the tech giants that have entered this space with high-end products. Though per unit cost of products is low in this region, the high sales volume of these products in the region will lead APAC to be the major shareholder of the market during the forecast period.
Consumer application to account the largest share of the VR display market during the forecast period. The consumer application held the largest size of the VR display market in 2020.The introduction of VR in consumer technologies has led to the launch of many innovative products in the market.
Moreover, continuous decline in the cost of VR devices, software developments, and relevant content developments are driving the market for VR.The growing use of VR HMDs for gaming will propel the market for consumer applications.
Virtual reality technology offers remarkable visual effects when used in gaming and sports broadcasts.The demand for head-mounted displays is high in consumer applications because of their use in gaming and sports & entertainment.
Samsung Gear VR, Oculus Rift, PlayStation VR, and HTC Vive are among the popular HMDs that are used in various consumer applications.
APAC to account the largest share during 2021–2026. The VR display market growth in APAC is driven by countries such as China, Japan, and South Korea due to the presence of major display manufacturers, growing consumer demand, and decreasing price of VR devices.Owing to the presence of a number of display panel manufacturers in the region, the adoption of the latest display technologies is high in APAC.
The use of VR displays in APAC is expected to grow in healthcare, commercial, and enterprise verticals. The commercial and enterprise verticals in APAC have adopted these displays at large owing to the easy availability of VR devices in the region.
In-depth interviews have been conducted with chief executive officers (CEOs), marketing directors, other innovation and technology directors, and executives from various key organizations operating in the AR and VR display marketplace.
• By Company Type: Tier 1 - 25%, Tier 2 – 40%, and Tier 3 - 35% • By Designation: C-Level Executives - 75% and Managers - 25% • By Region: North America - 40%, Europe - 23%, APAC - 26%, and RoW 11%
The AR and VR display market comprises major players such as Samsung Electronics (South Korea), Sony (Japan), LG Display (South Korea), eMagin Corporation (US), Kopin Corporation (US), AU Optronics (Taiwan), Japan Display (Japan), Barco (Belgium), BOE Technology (China), and Syndiant (US). The study includes an in-depth competitive analysis of these key players in the AR and VR display market, with their company profiles, recent developments, and key market strategies.
Research Coverage The report defines, describes, and forecasts the AR and VR display market based on technology, device type, display technology, application, and region.It provides detailed information regarding factors such as drivers, restraints, opportunities, and challenges influencing the growth of the AR and VR display market.
It also analyzes competitive developments such as product launches, acquisitions, expansions, contracts, partnerships, and developments carried out by the key players to grow in the market.
Key Benefits of Buying the Report The report will help market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall AR and VR display market and the subsegments.This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies.
The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
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Virtual And Augmented Reality
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