The Future of the Near-Eye Display Market Growth, and Research Report Breakdown

The global near-eye display market size is estimated to be USD 1.7 billion in 2022 and is projected to reach 5.3 billion by 2027, at a CAGR of 24.7% during the forecast period. The increasing adoption of AR devices in different verticals, and upsurging popularity of the Metaverse are driving factors for the market growth. Moreover, increasing use of OLEDoS micro displays in newer applications is expected to drive the market growth for near-eye display market.

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The near-eye display market has promising growth potential due to several factors, including the increasing investments by technology giants in development of innovative near-eye display products, and growing focus of market layers on filing patents and spending more on R&D activities. The filing of patents pertaining to near-eye display products has increased over the past few years. The increasing number of startups, such as TriLite Technologies GmbH; JBD Xianyao Display Technology; and Shenzhen Top pop Electronic Technology Co., Ltd., and their focus on sustainable business growth have resulted in fierce competition in the near-eye display market.

The OLEDoS technology is projected to be the largest growing technology of the near-eye display market. The growth can be attributed to advanced features offered by OLEDoS technology, and better specifications in terms of resolution and size than other technologies. Further, the LCoS technology is projected to be the second largest growing technology of the near-eye display market. An LCoS micro display has made a significant impact on applications as diverse as optical correlation and projection. They are used in near-eye display devices such as EVFs, and HMDs in medical and military applications.

Medical segment followed by aerospace & defense are projected to be the fastest-growing segments respectively of the near-eye display market, by verticals. Technological advancements include VR diagnostics, VR surgery, and AR for visualization and training assistance in the healthcare sector propels the growth of the near-eye display market. Further, in the aerospace & defense, the increasing importance of training and simulation using AR and VR devices have emerged as key enablers for the growth of near-eye display market.

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Asia Pacific is estimated to be the largest growing market for near-eye display. The near-eye display market is projected to grow at the highest rate in emerging economies such as China, and Japan due to the presence of leading number of key players and increasing number of start-ups. Additionally, the easy availability of lightweight and cost-effective near-eye display-based HMDs in Asia Pacific would lead to high adoption of these products in consumer applications, encouraging more companies from the region to invest in AR and VR HMDs thereby bolstering the growth of near-eye display market.

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This release was published on openPR.