AR and VR Display Market Worth $4.4 Billion by 2024 - Exclusive Report by MarketsandMarkets™
CHICAGO, Nov. 18, 2019 /PRNewswire/ -- According to the new market research report "AR and VR Display Market by Device Type (AR HMD, VR HMD, HUD, Projector), Technology (AR, VR), Application (Consumer, Enterprise, Commercial, Healthcare, Aerospace & Defense), Display Trends, and Geography - Global Forecast to 2024", published by MarketsandMarkets™, the AR and VR Display Market is expected to grow from USD 1.6 billion in 2019 to USD 4.4 billion by 2024, at a CAGR of 21.8% during the forecast period. Increasing adoption of AR and VR devices in various applications, increasing demand for OLED in AR and VR devices, rising technological advancement and growing use of microdisplays in AR and VR devices are the major factors fueling the growth of the overall market.
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VR technology to lead AR and VR display market during the forecast period
Oculus Rift, HTC Vive, Sony PlayStation VR, Samsung Gear VR, Google's Daydream and Cardboard, Merge VR, and Carl Zeiss VR One are the major VR devices currently available in the market. The high adoption of VR HMDs is the primary driver for the growth of VR technology in the AR and VR display market.
AR HUDs to be fastest-growing device type in AR and VR display market during the forecast period
The use of HUDs in automotive would help the high growth of AR HUDs in the AR and VR display market wherein AR HUDs are expected to grow at the highest CAGR during the forecast period. Vehicles are evolving with added safety features. The growth rate of safety features is expected to increase exponentially in the coming years. The main objective behind the implementation of these features in the vehicle is to provide a safer, efficient, and convenient driving experience. The increasing awareness of driving safety and technological advancements in HUD is expected to drive the market for AR HUDs.
North America led the AR and VR display market in 2018
North America is a hub for technological innovations and is a leading market for cutting-edge technologies such as LCD-LED, OLED, and micro-LEDs. The growth of smart devices that are compatible with AR and VR technologies is used to a greater extent in North America than in other regions. Hence, the region contributes significantly to the AR and VR display market, and the market is expected to witness higher growth in North America during the forecast period.
Browse in-depth TOC on "AR and VR Display Market"
103 – Tables
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The major vendors in AR and VR display market include Samsung Electronics (South Korea), Sony (Japan), eMagin (US), Kopin (US), LG Display (South Korea), Japan Display (Japan), Syndiant (US), AU Optronics (Taiwan), Barco (Belgium), Seiko Epson (Japan), BEO Technology (China), and HOLOEYE Photonics (Germany). The other essential and emerging companies include Himax Technologies (Taiwan), Jasper Display (Taiwan), Raontech (South Korea), Innolux (Taiwan), OLiGHTEK (China), Fraunhofer (Germany), Universal Display (US), ITRI (Taiwan), New Vision Display (China), Mojo Vision (US), INT Tech (Hong Kong), EverDisplay Optronics (China), and CREAL3D (Switzerland).
Please Explore Relevant Reports:
Microdisplay Market by Product (HMD, HUD, EVF, Projector), Technology (OLED, LCoS, LCD, DLP), Industry (Consumer, Industrial/Enterprise, Aerospace, Automotive, Retail, Entertainment, Medical), Resolution, Brightness, and Region - Global Forecast to 2024
Display Market by Product (Smartphone, Wearables, Television, Automotive, Signage), Technology (LCD, OLED (Flexible, Foldable, Rigid), Direct-View LED, Micro-LED), Panel Size (Micro, Small & Medium, Large), Industry, and Geography - Global Forecast to 2024
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