Near-Eye Display Market to Surpass USD 9.90 Billion by 2030 owing to Rising Demand for Augmented and Virtual Reality

The Near-Eye Display Market is poised for continued growth, driven by the increasing demand for immersive AR and VR experiences, technological advancements. AUSTIN, TEXAS, UNITED STATES, January 26, 2024 /EINPresswire.com/ -- Market Report Scope

The SNS Insider report indicates that the near-eye display market was worth USD 1.80 billion in 2022 and is projected to attain a value of USD 9.90 billion by 2030, with a compounded annual growth rate (CAGR) of 23.7% during the forecast period from 2023 to 2030.

Near-eye displays are cutting-edge technologies that have been transforming the way we interact with digital information. These devices, often in the form of augmented reality (AR) glasses or virtual reality (VR) headsets, provide users with immersive, high-quality visual experiences. They have gained significant traction across various industries, from gaming and entertainment to healthcare, manufacturing, and education.

Market Analysis

The near-eye display market has witnessed remarkable growth in recent years, driven by several key factors. The increasing demand for immersive AR and VR experiences in industries such as gaming, healthcare, and education is a major driver. These technologies require sophisticated near-eye displays to deliver realistic and engaging content. Ongoing innovations in display technology, including OLED and microLED screens, have significantly enhanced the visual quality of near-eye displays. These improvements have attracted more consumers and businesses to invest in such devices. The gaming industry has been a substantial driver, with VR gaming experiences becoming increasingly popular. Near-eye displays provide gamers with immersive environments, taking gaming to a whole new level. AR and VR have made education more engaging and interactive. These technologies offer students immersive learning experiences, making complex subjects more accessible and understandable.

𝐆𝐞𝐭 𝐅𝐫𝐞𝐞 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 𝐨𝐟 𝐍𝐞𝐚𝐫-𝐄𝐲𝐞 𝐃𝐢𝐬𝐩𝐥𝐚𝐲 𝐌𝐚𝐫𝐤𝐞𝐭 @ https://www.snsinsider.com/sample-request/1554

Key Players Listed in this Report are:

• Sony Group Corporation
• Kopin Corporation
• eMagin Corporation
• BOE Technology Group Co
• Plessey
• TriLite Technologies GmbH
• Himax Technologies Inc
• MICROOLED Technologies
• Syndiant Inc
• JBD Xianyao Display Technology

Impact of Recession

The impact of an ongoing recession on the near-eye display market is nuanced, with both positive and negative aspects to consider. On the negative side, economic uncertainty can lead to reduced consumer spending on non-essential items like AR glasses and VR headsets, potentially affecting the market's growth. Companies may also face challenges in securing investment for research and development. However, there are positive aspects as well. During economic downturns, people often seek cost-effective solutions for entertainment, education, and remote work, which can increase the demand for affordable near-eye displays.

Impact of Russia-Ukraine War

The Russia-Ukraine war has introduced a significant degree of geopolitical instability and economic uncertainty. This uncertainty can potentially impact the near-eye display market in both negative and positive ways. Negatively, the conflict can disrupt global supply chains, affecting the production and distribution of near-eye display components and products. Economic sanctions and trade restrictions can further complicate international business relations, potentially leading to increased costs and supply chain disruptions. On a positive note, the ongoing conflict may spur increased investment in defense and security technologies, which could lead to greater demand for AR and VR solutions for training and simulation purposes within the defense industry.

Near-Eye Display Market Key Segments

BY TECHNOLOGY
• Laser Beam Scanning
• TFT LCD
• LCoS
• MicroLED
• AMOLED
• OLEDOS
• DLP

BY COMPONENTS
• Image Generators
• Imaging Optics
• Optical Combiners

BY DEVICE TYPE
• AR Devices
• VR Devices
• Others

BY INDUSTRY
• Consumer
• Aerospace & Defense
• Automotive
• Medical
• Others

𝐁𝐮𝐲 𝐚 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐨𝐟 𝐍𝐞𝐚𝐫-𝐄𝐲𝐞 𝐃𝐢𝐬𝐩𝐥𝐚𝐲 𝐌𝐚𝐫𝐤𝐞𝐭 𝐎𝐮𝐭𝐥𝐨𝐨𝐤 𝟐𝟎𝟐𝟑-𝟐𝟎𝟑𝟎 @ https://www.snsinsider.com/checkout/1554

Key Regional Development

North America has been a key driver of the near-eye display market, primarily due to the presence of major tech companies and a strong focus on AR and VR applications. The region boasts a robust ecosystem of startups and investments in these technologies. Asia-Pacific is emerging as a significant player in the market, with countries like China and Japan leading the way in manufacturing and innovation. The region's large population and tech-savvy consumers offer a fertile ground for market expansion. Europe has seen growing interest in near-eye displays, particularly in industrial and healthcare applications. Regulatory support and increased investment in R&D are contributing to market growth in this region.

Key Takeaway from Near-Eye Display Market Study

• The LBS segment in the market is poised for remarkable growth in the coming years. The demand for AR and VR experiences is increasing, with a growing consumer base and expanding use cases. As a result, manufacturers are investing heavily in LBS technology to meet this demand.

• The consumer segment plays a pivotal role in dominating the market. With an ever-increasing demand for smart glasses, augmented reality (AR) devices, and virtual reality (VR) headsets, consumer preferences are shaping the industry.

Recent Developments Related to Near-Eye Display Market

• eMagin, a prominent microLED display manufacturer, has announced its merger with Samsung Display. Their merger with Samsung Display, a division of the tech giant Samsung, is expected to unlock new synergies in the field of microLED displays, potentially leading to breakthroughs in the visual technology sector.

• Chinese microLED display developer JBD has made headlines by securing investments from major players in the automotive and technology sectors. BYD, Geely, and Alibaba have all shown a keen interest in JBD's innovative microLED display technology. These investments are expected to facilitate the expansion of JBD's research and development efforts, enhancing its ability to bring cutting-edge displays to the market.

𝐓𝐚𝐛𝐥𝐞 𝐨𝐟 𝐂𝐨𝐧𝐭𝐞𝐧𝐭𝐬 – 𝐌𝐚𝐣𝐨𝐫 𝐊𝐞𝐲 𝐏𝐨𝐢𝐧𝐭𝐬

1. Introduction
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Near-Eye Display Market Segmentation, By Technology
9. Near-Eye Display Market Segmentation, By Components
10. Near-Eye Display Market Segmentation, By Device Type
11. Near-Eye Display Market Segmentation, By Industry
12. Regional Analysis
13. Company Profile
14. Competitive Landscape
15. USE Cases and Best Practices
16. Conclusion

𝐀𝐜𝐜𝐞𝐬𝐬 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 𝐃𝐞𝐭𝐚𝐢𝐥𝐬 @ https://www.snsinsider.com/reports/near-eye-display-market-1554

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