Press release
Extended Reality Display Market Poised to Hit $9.15 Billion by 2029 with Accelerating Growth Trends
Extended Reality Display Market Size
Extended Reality Display Market Size Growth Forecast: What to Expect by 2025?
Over the previous years, the market size of extended reality display has seen substantial growth. The market is forecasted to expand from $2.04 billion in 2024 to $2.78 billion in 2025, implying a compound annual growth rate (CAGR) of 36.0%. The significant growth witnessed in the historic period is a result of research and usability testing, applications in gaming and entertainment, medical and healare sectors, market research, advertisement and human-computer interaction.
How Will the Extended Reality Display Market Size Evolve and Grow by 2029?
The market for extended reality displays is projected to undergo drastic expansion in the coming years, with its value predicted to reach $9.15 billion by 2029, demonstrating a compound annual growth rate (CAGR) of 34.7%. This growth within the forecast period could be credited to the increase in applications of virtual reality (VR) and augmented reality (AR), integration with e-commerce and retail, health tracking wearable devices, use in the educational sector, and engagement with smart devices and the internet of things (IoT). Significant trends observed for the forecast period encompass its use in neuromarketing, the escalation in wearable eye-tracking devices, eye tracking features in vehicle design and driver surveillance, advancements in healare-related applications, and remote work collaborations.
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What Drivers Are Propelling the Growth of Extended Reality Display Market Forward?
The escalating use of smartphones is predicted to augment the expansion of the extended reality display market in the future. Smartphones, which are advanced mobile phones that merge the attributes of conventional mobile devices with capabilities typically inherent in computer devices, make use of extended reality displays. These displays assist in the flawless integration of digital data into the actual world through augmented reality (AR) and mixed reality (MR). For example, Statistics Canada - a Canadian national statistical agency - reported in November 2024 that in 2022, some 85% of Canadians utilized the internet through their smartphones. The usage was most prevalent among those in the 25 to 34 age bracket, recording a 98% rate and least common amongst individuals over the age of 75, where it stood at 37%. Thus, the escalating use of smartphones continues to be a significant driver for the expansion of the extended reality display market.
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Which Emerging Trends Are Transforming the Extended Reality Display Market in 2025?
Leading firms in the extended reality display market are concentrating on the advancement of groundbreaking technologies such as spatial reality displays, in order to maintain their market dominance. Spatial Reality Displays are evolved display technologies tailored to provide a more engaging and interactive experience by merging digital material with the tangible world in 3D. Sony Corporation, a Japanese conglomerate, introduced a pioneering Spatial Reality Display in September 2023. This display enables a glasses-free 3D experience, eliminating the need for a VR headset. It boasts a 27-inch 4K resolution screen with a complete 100% Adobe RGB color gamut.
What Are the Key Segments in the Extended Reality Display Market?
The extended reality display market covered in this report is segmented -
1) By Display Type: Liquid Crystal Displays (LCD), Organic Light-Emitting Diode (OLED), Other Display Type
2) By Component: Hardware, Software, Services
3) By Solution: Business Engagement, Consumer Engagement
4) By Application: Augmented Reality, Mixed Reality, Virtual Reality
5) By End-User Industry: Gaming And Entertainment, Healare, Education, Military And Defense, Automotive And Manufacturing, Retail, Other End-Users
Subsegments:
1) By Liquid Crystal Displays (LCD): Standard LCDs, Thin Film Transistor (TFT) LCDs, In-Plane Switching (IPS) LCDs
2) By Organic Light-Emitting Diode (OLED): Flexible OLED Displays, Rigid OLED Displays, Transparent OLED Displays
3) By Other Display Types: MicroLED Displays, Projection Displays, Digital Light Processing (DLP) Displays
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Who Are the Key Players Shaping the Extended Reality Display Market's Competitive Landscape?
Major companies operating in the extended reality display market report are Apple Inc., Alphabet, Samsung Electronics Co. Ltd., Microsoft, Meta Platforms Inc., Dell Technologies Inc., Sony Corporation, HP Development Company L.P., PLC, Qualcomm Technologies Inc., Koninklijke Philips N.V., Vuzix Corporation, Seiko Epson Corporation, Japan Display Inc., PTC Inc., Niantic Inc., Tata Elxsi Limited, Magic Leap, MAGIC LEAP Inc., HTC Corporation, EON Reality Inc., Talespin Reality Labs Inc., Kopin Corporation, Varjo Technologies Oy, Zappar, SphereGen Technologies LLC, Metaio, Softweb Solutions Inc.
What Geographic Markets Are Powering Growth in the Extended Reality Display Market?
North America was the largest region in the extended reality display market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the extended reality display market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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