The global AR and VR display market was highly fragmented in 2018. Prominent players operating in the global market are focusing on technological developments and expansions to meet the growing demand for AR and VR display. Moreover, manufacturers are signing partnerships for the development of innovative products and to gain higher profit margins.
Key players operating in the global AR and VR display market include:
- Samsung Electronics
- Sony
- eMagin
- Kopin
- LG Display
- Japan Display
- Syndiant
- AU Optronics
- Barco
- Seiko Epson
- BEO Technology
- HOLOEYE Photonics
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AR (Augmented reality) can be defined as a system that fulfills three basic features: a combination of real and virtual worlds, real-time interaction, and accurate 3D registration of virtual and real objects. Virtual reality (VR) is a simulated experience that can be similar to or completely different from the real world. Applications of virtual reality can include entertainment (i.e. video games) and education (i.e. medical or military training).
These realities can be integrated through different technologies to be experienced with a display called AR and VR display. The display technology profoundly influences the augmented and virtual reality experience. Too heavy display or low resolution may diminish the experience of the user. AR and VR devices are increasingly being utilized for industrial as well as leisure purposes.
The display trends in the industry currently seen are digital light processing (DLP), micro-LED, organic light-emitting diode (OLED), and liquid crystal on silicon (LCOS), among others. The AR and VR display market is expected to witness sharp growth during the forecast period on account of heavy investments from tech giants.
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AR and VR Display Market Dynamics
- The AR and VR display market is anticipated to grow during the forecast period owing to driving factors such as the rapid adoption of AR and VR devices coupled with the demand for OLED displays and adoption of wearable technology. Also, robust technological developments are likely to fuel market growth.
- The growing use of VR HMDs for gaming is likely to propel the market for consumer applications. Virtual reality technology offers remarkable results in terms of visual effects when used in gaming and sports broadcasts.
- Demand for head-mounted displays is high in consumer applications because of their use in gaming and sports & entertainment. Advancements in computer technology and internet connectivity is driving the market for VR, which in turn is expected to drive the demand for VR displays.
- However, the high cost of devices is a challenge for the growth of the AR and VR display market. Nevertheless, emerging display technologies and advancements in gaming are expected to create symbolic growth prospects for players in the coming years.
Increasing Demand for Head Mount Displays: A Key Driver
- A display system is an important component in HMDs (head mount displays) such as AR and VR, which displays information in the user’s field of view. These displays help in projecting the virtual environment images in front of a user’s eye.
- The advent of lightweight wearable technology has led to growing innovation in the HMD (head-mounted display) industry. Manufacturers across the globe have started positioning HMD as a consumer product with the introduction of lightweight displays.
- Virtual prototyping provides significant opportunities. It involves using computer-aided design (CAD), computer-automated design (CAutoD), and computer-aided engineering (CAE) software to validate a design before committing to making a physical prototype. This is done by creating (usually 3D) computer generated geometrical shapes (parts) and combining them into an “assembly” and testing different mechanical motions, fit and function, which can be visualized easily through AR and VR displays.
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Asia Pacific to Lead the Global Market
- North America, being a developed and technologically advanced region, is likely to be one of the key contributors to the overall growth of the AR and VR display market during the forecast period. Applications such as enterprise, aerospace & defense, healthcare, consumer, and commercial are utilizing AR technologies for further advancements.
- The U.S has many global players featuring AR products and solutions. This helps North America stand out as one of the significant regions in the AR display market, whereas APAC is expected to lead the overall AR and VR display market.
- The AR and VR display market in Asia Pacific and Europe is likely to witness stagnant growth owing to presence of various semiconductor and autonomous vehicle manufacturers. The market in Latin America and Middle East & Africa is estimated to show sluggish growth during the forecast period.
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