The Global Near-Eye Display Market size is expected to reach $ 6.7 billion by 2028, rising at a market growth of 25% CAGR during the forecast period

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Near-eye displays are a type of head-mounted display that immerses the user in a virtual environment (VR) or augments the real world (AR) by superimposing digital information or anything in between on the ‘cross / extended reality’ spectrum (XR ).

New York, June 29, 2022 (GLOBE NEWSWIRE) – Reportlinker.com announces the release of the report “Global Near-Eye Display Market Size, Share & Industry Trends Analysis Report By Device Type, By Vertical, By Technology, By Regional Outlook and Forecast, 2022 – 2028 “- https://www.reportlinker.com/p06289273/?utm_source=GNW
In addition, near-eye displays response to head movement and allow manipulation and interaction with objects. Along with that, near-eye displays, which have recently inundated the market, have the ability to generate innovative experiences that could transform industries such as healthcare, communication, entertainment, and manufacturing, among others.

Since its development in the last century, a near-eye display, also known as a head-mounted display, has been a critical method for providing humans with virtual pictures. In particular, an ultra-wide field of view (FOV), obvious depth cues, and a compact form factor with acceptable weight are required for the ultimate implementation of the commercial near-eye display. Freeform surface elements may be an effective technique to achieve not just a large field of view but also a better and lighter image, but their weight and volume make them unwearable. Implementing reflective mirrors into the system, substituting the spherical lens category with a wedge-shaped freeform prism, and using gradient index lenses are all possible options.

The growing and evolving culture of gaming among millennials and gen Z are contributing to the increasing popularity of VR and AR technology, especially in gaming products and events. In addition, various gaming events are using products using near-eye display technology in order to provide a better experience to the audience and participants. Along with that, the rise in the usage of VR and AR technology in the entertainment industry for creating different content would further accelerate the demand and growth of the near-eye display market in the coming years.

COVID-19 Impact

COVID-19, a fatal respiratory virus that originated in China, has infected millions of people around the world. The influence of COVID-19 on the near-eye display market and customer demand in the current context is unknown. On the other hand, because China is home to the bulk of microdisplay makers, device production is projected to decline in the near future. Also, many microdisplay-related research and development activities, as well as new product releases, were postponed and component supply was affected as a result of the COVID-19 outbreak. In addition, the temporary ban on imports or exports by various governments as well as the shutdown of manufacturing units has significantly impacted the supply chain of near-eye displays.

Market Growth Factors

Growing usage of OLEDoS microdisplays in latest applications

With the developments in technologies and the introduction of various advanced components, the demand for better performance products would increase. In this case, due to enhanced qualities such as greater contrast, faster response time, lower weight, negligible image blurring, more compact size, and a wider operational temperature range than LCDs, OLEDoS microdisplays are gaining traction in the market among key players. Because they are widely employed in EVFs and HMDs, they have outperformed traditional LCD and LCoS microdisplay technologies.

Rising investments by companies in the development of advanced products

Technology behemoths are concentrating their efforts on cooperating and partnering with businesses that generate and deliver value to their clients. Meta, Apple, Microsoft Corporation, and the Samsung Group are all investing extensively in the development of cutting-edge near-eye display modules, which provide effective and efficient performance. In addition, several research institutes are investigating AR technology for a variety of goods and applications. Along with that, the increasing R&D activities by the companies and manufacturers are contributing to the rise in the number of near-year display products in the market.

Market Restraining Factors

Increase in demand for electric and semi-autonomous vehicles

There has been a significant increase in overall demand for electric and semi-autonomous vehicles in recent years across the world. The need for head-up displays is rising as these vehicles become more popular. Semi-autonomous vehicles can sense their surroundings and navigate to their destination with minimal human assistance. This type of car may be controlled using voice commands. The main goal of these vehicles is to make driving safer and more convenient. Advanced features in semi-autonomous vehicles include park assistance, front collision avoidance, and adaptive cruise control.

Device Type Outlook

Based on Device Type, the market is segmented into VR Devices, AR Devices, and Others. AR devices segment recorded a substantial revenue share in the near-eye display market in 2021. It is due to the increasing popularity of AR across different industrial verticals. In addition, wearable glasses, head-mounted devices, and smartphone apps are the most common ways to enjoy augmented reality, which is contributing to the growth of the segment over the forecast period.

Vertical Outlook

Based on Vertical, the market is segmented into Consumer, Automotive, Aerospace & Defense, Medical, and Others. The medical segment procured a substantial revenue share in the near-eye display market in 2021. It is because of the continued improvements in the healthcare sector. VR diagnosis, VR surgery, and AR for visualization and training help are examples of technological developments. In addition, the near-eye display market is likely to rise in response to current advances in the AR and VR markets.

Technology Outlook

Based on Technology, the market is segmented into TFT LCD, AMOLED, LCoS, OLEDOS, MicroLED, and DLP & Laser Beam Scanning. OLEDOS segment procured a significant revenue share in the near-eye display market in 2021. Near-eye displays based on OLED technology are made on a silicon surface known as silicon-based OLED or OLEDoS. Instead of using a TFT line, OLEDoS technology uses a semiconductor CMOS silicon driving circuit. As a result, the technology has greater resolution and dimension parameters than existing near-eye display technologies. In addition, market participants have begun to employ organic growth tactics in order to expand their portfolio of OLEDoS-based near-eye display solutions. SeeYA Technology, for example, began producing OLEDoS displays for smart wearables in 2020.

Regional Outlook

Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. Asia Pacific garnered a significant revenue share in the near-eye display market in 2021. Due to the significant adoption of AR and VR technologies by the consumer and medical sectors in countries like China, Japan, and India, the near-eye display market in Asia Pacific would grow in the coming years. China’s market growth can be ascribed to the fact that it is one of the major consumer electronics marketplaces. The widespread availability of lightweight, low-cost near-eye display-based HMDs in Asia Pacific will encourage more enterprises in the region to invest in AR and VR HMDs.

The market research report covers the analysis of key stakeholders of the market. Key companies profiled in the report include Sony Corporation, Himax Technologies, Inc., Kopin Corporation, eMagin Corporation, BOE Technology Group Co., Ltd., Texas Instruments, Inc., Tianma Microelectronics Co., Ltd., Samsung Electronics Co., Ltd., MICROOLED Technologies, and Syndiant, Inc.

Recent Strategies Deployed in Near-Eye Display Market

Apr-2022: BOE unveiled a new launch Virtual Reality Glasses, Pancake Particle / BOE Pancake Optic 250g All-In-One VR Headset. This product is the next-gen all-in-one VR headset, only 250g, and ¼ the thickness of a traditional VR headset. In addition, the BOE Pancake Lenses in Particle All-in-One VR Headset would assist make it lightweight and compact.

May-2022: eMagin introduced a new microdisplay in 2.1 inches. This display is almost as large as a new set of compact regular panels aimed for headsets with pancake lenses. The latest microdisplay’s resolution of 3600 × 4000 could practically be utilized in VR headsets without compromising the field of view.

Feb-2022: eMagin Corporation launched its flagship Direct Patterning Display technology on a widescreen ultra-extended graphics array (WUXGA) (1920×1200 pixels) OLED microdisplay. The dPd-based, full-color OLEDs are more power effective at any brightness level that would pave the way for dPd technology to ultimately replace current full-color OLED technologies aimed at metaverse applications.

Jan-2022: Kopin Corporation unveiled a new all-plastic Pancake optics for its next-generation 1.3? 2.6K x 2.6K Lightning OLED microdisplay with outstanding performance for virtual reality (VR) applications. The new Pancake optics would allow the design of compact, lightweight, stylish VR glasses, which would provide comfort to wear for extended hours with no requirement for adjustment, even for people who wear eyeglasses.

Jan-2021: Kopin entered into a partnership with Jade Bird Display, a leading manufacturer of microLED microdisplays. This partnership aims to develop super bright monochrome LED microdisplays. In the partnership, Jade Bird Display would offer the LED wafers and the hybrid bonding service on Kopin-designed and supplied backplane wafers for monolithic microdisplays, which manufactures different kinds of displays for military and aviation applications.

Oct-2019: Himax Technologies entered into a partnership with VividQ, a UK-based software company. This partnership aims to develop a complete solution for holographic displays. This partnership would enable technology companies and Original Equipment Manufacturers to make Himax display technology powered by the VividQ software suite straight into their products.

May-2018: Sony Corporation unveiled the ECX339A OLED Microdisplay featuring UXGA. Through this launch, Sony would expect this high-definition OLED Microdisplay to be deployed in a wide range of fields and applications such as AR (augmented reality) and VR (virtual reality) head-mounted displays.

Scope of the Study

Market Segments covered in the Report:

By Device Type

• VR Devices

• AR Devices

• Others

By Vertical

• Consumer

• Automotive

• Aerospace & Defense

• Medical

• Others

By Technology

• TFT LCD

• AMOLED

• LCoS

• OLEDOS

• MicroLED

• DLP & Laser Beam Scanning

By Geography

• North America

o US

o Canada

o Mexico

o Rest of North America

• Europe

o Germany

o UK

o France

o Russia

o Spain

o Italy

o Rest of Europe

• Asia Pacific

o China

o Japan

o India

o South Korea

o Singapore

o Malaysia

o Rest of Asia Pacific

• LAMEA

o Brazil

o Argentina

o UAE

o Saudi Arabia

o South Africa

o Nigeria

o Rest of LAMEA

Companies Profiled

• Sony Corporation

• Himax Technologies, Inc.

• Kopin Corporation

• eMagin Corporation

• BOE Technology Group Co., Ltd.

• Texas Instruments, Inc.

• Tianma Microelectronics Co., Ltd.

• Samsung Electronics Co., Ltd.

• MICROOLED Technologies

• Syndiant, Inc.

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Read the full report: https://www.reportlinker.com/p06289273/?utm_source=GNW

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