Increasing Automotive, Manufacturing, and Consumer Applications to Drive the Global AR VR Display Market Ecosystem
The global AR VR display market ecosystem is set to witness spectacular growth in the coming years. The market for AR VR to go through major developments over the next few years due to technological advancements taking place in AR VR devices. As a result, the adoption and application of AR VR devices has been increasing significantly in recent times and this trend is likely to continue and gather more strength with time.
Factors such as increasing adoption of AR VR devices for various applications, technological advancements, growing use of micro displays in AR VR, and increasing demand for OLED in AR VR devices are some of the major factors that will help the global AR VR display market ecosystem to flourish in the coming years.
In the global AR VR display market, the AR HMD (Head Mounted Display) segment is to register impressive growth in the coming years. The increasing use of AR HMDs for enterprise and healthcare applications will play a key role in the growth of this segment over the next five years. The use of HMDs is also expected to increase in aerospace & defense, automotive, consumer, manufacturing, and commercial applications, which too will give a major boost to the growth of the AR HMD segment and the overall AR VR display market.
The increasing application of AR HUDs in the automotive industry will particularly play a crucial role in the growth of AR HUDs in the AR VR display market. As the number of safety features incorporated in vehicles is rising, the application of HUDs in the automotive sector is also increasing, and this will propel the growth of the global AR VR display market.
The VR display market is presently growing at a significant CAGR and increasing gaming and entertainment applications will help this segment maintain its growth momentum. Factors such as advancements in computer technology and internet connectivity will also drive the market for VR and thus, the demand for VR display. At present, the most noteworthy HMDs available in the market are Oculus Rift, Sony PlayStation, Samsung Gear, HTC Vive, Google’s Daydream and Cardboard, and Merge VR, which are used for various consumer applications.
The global AR VR display market ecosystem is presently dominated by North America and this trend is likely to continue over the next few years as well. As North America is a technologically advanced region, the adoption of AR VR for aerospace & defense, healthcare, consumer, and enterprise applications is already high and is expected to increase further in the coming years.
Moreover, the region is known to have several global players offering AR products and solutions. All these factors will help the North American AR VR display market to register high growth. The Asia-Pacific region is also projected to exhibit remarkable growth and lead the AR VR display market in the coming years.
The major players operating in the global AR VR display market ecosystem are Samsung Electronics, Sony, LG Display, Japan Display, eMagin, Kopin, AU Optronics, Syndiant, Seiko Epson, BEO Technology, Barco, HOLOEYE Photonics, Himax Technologies, Jasper Display, and Innolux, and Raontech, among others.