The Worldwide Near-Eye Display Industry is Expected to Reach $6.7 Billion by 2028 at a 25% CAGR
DUBLIN, Dec. 1, 2022 /PRNewswire/ -- The "Global Near-Eye Display Market Size, Share & Industry Trends Analysis Report By Device Type, By Vertical, By Technology, By Regional Outlook and Forecast, 2022 - 2028" report has been added to ResearchAndMarkets.com's offering.
The Global Near-Eye Display Market size is expected to reach $6.7 billion by 2028, rising at a market growth of 25% CAGR during the forecast period.
Near-eye displays are a type of head-mounted display that immerses the user in a virtual environment (VR) or augments the real world (AR) by superimposing digital information or anything in between on the 'cross/extended reality' spectrum (XR). In addition, near-eye displays response to head movement and allow manipulation and interaction with objects.
Along with that, near-eye displays, which have recently inundated the market, have the ability to generate innovative experiences that could transform industries such as healthcare, communication, entertainment, and manufacturing, among others.
Freeform surface elements may be an effective technique to achieve not just a large field of view but also a better and lighter image, but their weight and volume make them unwearable. Implementing reflective mirrors into the system, substituting the spherical lens category with a wedge-shaped freeform prism, and using gradient index lenses are all possible options.
In addition, various gaming events are using products using near-eye display technology in order to provide a better experience to the audience and participants. Along with that, the rise in the usage of VR and AR technology in the entertainment industry for creating different content is expected to further accelerate the demand and growth of the near-eye display market in the coming years.
Also, many microdisplay-related research and development activities, as well as new product releases, were postponed and component supply was affected as a result of the COVID-19 outbreak. In addition, the temporary ban on imports or exportsby various governments as well as the shutdown of manufacturing units has significantly impacted the supply chain of near-eye displays.
Market Growth Factors:
Growing usage of OLEDoS microdisplays in latest applications
With the developments in technologies and the introduction of various advanced components, the demand for better performance products is expected to increase.
In this case, due to enhanced qualities such as greater contrast, faster response time, lower weight, negligible image blurring, more compact size, and a wider operational temperature range than LCDs, OLEDoS microdisplays are gaining traction in the market among key players. Because they are widely employed in EVFs and HMDs, they have outperformed traditional LCD and LCoS microdisplay technologies.
In addition, several research institutes are investigating AR technology for a variety of goods and applications. Along with that, the increasing R&D activities by the companies and manufacturers are contributing to the rise in the number of near-year display products in the market.
This type of car may be controlled using voice commands. The main goal of these vehicles is to make driving safer and more convenient. Advanced features in semi-autonomous vehicles include park assistance, front collision avoidance, and adaptive cruise control.
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