Near-Eye Display Market: Industry Analysis and Forecast (2024-2030) by Technology, Application and Region

Near-Eye Display Market Overview:

 

Near-Eye Display Market report examines the market’s growth drivers as well as its segments (Application, Technology and Region). Data has been provided by market participants, and regions (North America, APAC, Europe, MEA, and South America). This market study takes an in-depth look at all of the significant advancements that are currently occurring across all industry sectors. To provide key data analysis for the historical period (2018-2022), statistics, and presentations are used. The report examines the Near-Eye Display Market Drivers, Restraints, Opportunities, and Challenges. This SMR report includes investor recommendations based on a detailed analysis of the current competitive landscape of the Near-Eye Display Market.

 

Near-Eye Displays are being used extensively in the growing markets of Virtual Reality, Augmented Reality and wearable computers. Possessing the power to provide an immersive experience, the market has promising applications in the future of marketing, automobile, medical, aerospace and defence and several other markets.

 

The light form factor, making them portable and low power consumption are some of the other factors that cement a promising growth of the Near-Eye Display in the forecast period.

 

The availability of different display technologies, which are being extensively developed by key players makes way for substantial innovation opportunities and growth of the technology in the upcoming years.

 

 

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Near-Eye Display Market Dynamics:

 

The increasing adoption of OLEDoS microdisplays is the key factor that drives the growth of the Near-Eye Display Market. OLEDoS technology's advantages, such as efficient power consumption, compactness, and the lack of a need for external illumination, as well as its use in AR and VR devices, are expected to drive demand during the forecast period.

 

Technology corporate giants are concentrating their efforts on collaborating and partnering with businesses that create and deliver value to their clients. Meta, Apple, Inc., Microsoft Corporation, and the Samsung Group all invest heavily in the development of cutting-edge near-eye display modules. In addition, several research institutes are investigating AR technology for a variety of products and applications. Many businesses are concentrating their efforts on improving the features and functions of their current products. With increasing investments by major corporations, the application areas of near-eye displays in the consumer, medical, and aerospace & defence industries will expand, resulting in overall market growth.

 

Increased Usage of Virtual Reality Marketplaces:

 

With many brands now designing Virtual Reality based marketplaces, the Near-Eye Display Technology has multiple forecasted applications in marketing and consumer experience enrichment. The increased usage for gaming and online shopping are other applications that will drive the growth of the Near-Eye Display Market.

 

Due to advanced features such as response time, higher contrast, faster lighter weight, more compact size, negligible image smearing, and a wider operating temperature range than LCDs, OLEDoS microdisplays are gaining traction. Because they are widely used in EVFs and HMDs, they have outperformed traditional LCD and LCoS microdisplay technologies. OLEDoS microdisplays are used in video and VR glasses and EVFs to aid in search, navigation, and daily personal activities in the consumer sector. The defence industry is looking for AR helmets for pilots to help them communicate better during battle. OLEDoS are expected to replace existing display technologies, according to many industry experts. As a result, many companies are investing in research and development activities related to OLEDoS technology. OLEDoS technology-based displays are offered by Kopin Corporation and SeeYA Technology Corporation.

 

Health Issues related to using the main restraint:

 

The eye strain and other associated health problems caused because of usage of Near-Eye Display for long periods of time is a factor that might hinder the growth of the market. These include anxiety, obesity, headaches and lack of concentration. The proximity of the devices to the face exposes the user to substantial electromagnetic frequency radiation might also cause harm and illness to the users. The multiple stimuli that the user experiences might also lead to disorientation and headaches, which might stop the user base from expanding, hampering the growth of the Near-Eye Display market.

 

In VR and AR devices, displays account for more than half of the total response time. If there is a problem with the measurement of the viewpoint, there will be a deviation from the exact position. As a result, VR systems require very little latency in order to keep the virtual entity in a stable position. When adapting to a new situation, the virtual object projection should not be delayed for more than 15 milliseconds, as this can cause differences in the position of virtual objects compared to real objects. In addition, to improve the see-through video comfort, AR systems require low latency.

 

As a result, the minimum latency for AR systems should not exceed five milliseconds, because even a small delay between the user moving and the virtual imagery updating can be noticeable and distracting.  As a result, one of the main challenges for companies developing near-eye displays is to reduce latency.

 

Near-Eye Display Market Segment Analysis:

 

Based on the Technology, the Near-Eye Display Market is segmented into TFT LCD, AMOLED, OLEDoS and MicroLED. The TFT LCD held the largest market share in 2023. This can be attributed to the high resolutions of the devices that can be manufactured using the technology which is both affordable because of mass production and efficient in power consumption. The increasing adoption of OLEDoS is also expected to contribute to significant growth in the Near-Eye Display Market.

 

 

Based on Applications, the Near-Eye Display Market is segmented into Consumer, Medical, Aerospace and Defence, and Automotive segments. The medical segment is expected to grow the most during the forecast period. Innovations in VR Surgery, VR Consultation, Psychiatry and rehabilitation, and training purposes are forecasted to boost the growth of the medical segment. The consumer segment was the largest segment in the Near-Eye Display Market. This is because the wide application of the technology in VR and AR displays will change the landscape for consumer experiences in the forecast period. VR based marketplaces and AR-based shopping are some examples where the applications will drive significant growth in the Near-Eye Display Market.

 

Based on the Device Type, VR devices held the largest market share of xx% in 2023. Near-eye display-based HMDs power these devices to provide a fully digital experience that simulates a three-dimensional environment in the real world. Near-eye displays are highly adopted in VR devices as these displays are affordable and can be mass-produced by players from China, Japan, & India. VR devices have revolutionized the applications from the consumer sector by allowing users to immerse themselves in a highly simulated environment.

 

Near-Eye Display Market Regional Outlook:

 

Asia Pacific region held the largest market share for the Near-Eye Display Market in 2023. The market is driven by the presence of many key players and new emerging start-ups that drive innovation in the market. As a result, high rates of adoption are forecasted because of easily available and affordable products. The consequential growth of applications in VR and AR will further boost the growth of the market in the region.

 

The report provides Porter’s Five Forces Model that will aid enterprise decision makers to develop their long-term strategies and marketing positions. It identifies the key competitors, their positioning and how their products perform and are perceived by the customers. Through expert analysts’ opinion, the report provides consultation on the difficulty of entering the market for new players.

 

Further the report provides PESTEL Analysis which will help the company tailor the overall strategies for market activities. The analysis takes into consideration various environmental variables that are crucial for the development of the market position of the company such as government funding and other political variables. Therefore, this analysis helps the stakeholder evaluate the challenges and opportunities in a holistic way.

 

Near-Eye Display Market Scope:

 

 

Near-Eye Display Market
Market Size in 2023	USD 2.47 Bn.
Market Size in 2030	USD 11.80 Bn.
CAGR (2024-2030)	25%
Historic Data	2018-2022
Base Year	2023
Forecast Period	2024-2030
Segment Scope	By  Technology   TFT LCD AMOLED OLEDoS MicroLED
	By Application   Consumer Medical Aerospace and Defence Automotive
	By Device Type AR Devices VR Devices Others (EVF and MR Devices)
Regional Scope	North America- United States, Canada, and Mexico Europe – UK, France, Germany, Italy, Spain, Sweden, Austria, and Rest of Europe Asia Pacific – China, India, Japan, South Korea, Australia, ASEAN, Rest of APAC Middle East and Africa - South Africa, GCC, Egypt, Nigeria, Rest of the Middle East and Africa South America – Brazil, Argentina, Rest of South America

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Near-Eye Display Market Key Players:

• 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)
• Micron Technology Inc. (US)
• Microvision Inc.(US)
• Lumus(Israel)
• Digilens(US)
• WaveOptics (UK)