Analysis on the World's $4.4Bn AR and VR Display Market, 2019-2024 - VR HMDs to Lead the Market During the Forecast Period

DUBLIN, Nov. 26, 2019 /PRNewswire/ -- The "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" report has been added to ResearchAndMarkets.com's offering.

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.

The AR display market was valued at USD 108 million in 2018 and is projected to reach USD 1,509 million by 2024; it is expected to grow at a CAGR of 48.3% during the forecast period. The VR display market was valued at USD 1,021 million in 2018 and is projected to reach USD 2,889 million by 2024; it is expected to grow at a CAGR of 15.1% during the forecast period.

The VR display market is expected to lead the market due to the increased adoption of VR HMDs, with VR being a mature market as compared with that of AR. Also, the use of VR for commercial purposes to attract customers has been on the rise with business owners using VR headsets to build their sales.

The company profile section includes Samsung Electronics, LG Display, EMagin Corporation, Kopin Corporation, Sony Corporation, Holoeye Photonics, Japan Display, Syndiant Corporation, AU Optronics, Barco, Seiko Epson, and BOE Technology.

Drivers & Restraints

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.

However, the deployment of full-screen alternatives, competition from existing devices with traditional displays, and limited content availability are the major factors restraining the growth of the market.

VR HMDs to lead AR and VR display market during the forecast period.

The use of VR HMDs in gaming and entertainment in the consumer space is the primary driver for the growth of the VR HMD panel market. New entrants in the form of local vendors coming in from APAC countries would be major consumers of VR HMD panels.

The commercial sector is expected to grow at the highest growth rate owing to the use of VR HMDs on a large scale in tourism and sight-seeing, as well as in the retail sector. The realistic and interactive real-time environment offered by these devices makes them ideal for gaming and entertainment.

Enterprise application to lead the AR display market during the forecast period.

AR is a cutting-edge technology involved in the Industry 4.0 trend. The use of AR devices helps minimize human errors, improves efficiency, and reduces expenses. The AR devices have a wide range of use cases, namely in operations for installation and assembly, maintenance and remote assistance, training, quality control, safety management, and for design and visualization.

There is a growing number of use cases of AR HMD for maintenance and repair, allowing a worker to repair an engine by superimposing images and information in his actual line of sight. Complex procedural repairs can be broken down into a series of simple steps offering instructions at a glance. This would help enterprise applications to lead the AR display market during the forecast period.

APAC to register the highest CAGR in AR and VR display market by 2024

The presence of significant AR and VR display manufacturers in countries such as China, South Korea, Japan, and Taiwan is the primary driver of the AR and VR display market. The majority of the demand for AR and VR displays is expected to derive from consumer, enterprise, commercial, and automotive applications.

These applications offer huge potential for the AR and VR market because of the increasing awareness among consumers and the rising adoption of new technologies in various industries, especially in countries such as China, India, and South Korea. APAC will grow at the highest CAGR and is also expected to lead the AR and VR display market by 2024.

Key Topics Covered

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights
4.1 Attractive Market Opportunities in AR and VR Display Market
4.2 VR Display Market in APAC, By Application and Country
4.3 AR Display Market: Developed vs Developing Markets, 2018 and 2024 (USD Million)
4.4 VR Display Market: Major Countries
4.5 AR Display Market: Major Applications

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Growing Adoption of AR and VR Devices in Various Applications
5.2.1.2 Increasing Demand for OLED Displays in AR and VR Devices
5.2.1.3 Rising Technological Advancement and Growing Use of Microdisplays in AR and VR Devices
5.2.2 Restraints
5.2.2.1 Deployment of Widescreen Alternatives
5.2.2.2 Competition From Existing Devices With Traditional Displays
5.2.2.3 Limited Content Availability
5.2.3 Opportunities
5.2.3.1 Emerging Display Technologies - Micro-LED
5.2.3.2 Growing Investments in AR and VR Devices From Tech-Giants
5.2.3.3 Technological Advancements in Gaming
5.2.4 Challenges
5.2.4.1 Display Latency and Limited Field of View (FOV)
5.2.4.2 High Cost Devices
5.2.4.3 Complex Manufacturing Processes

6 Industry Trends
6.1 Introduction
6.2 Value Chain Analysis
6.2.1 Research and Development
6.2.2 Panel Manufacturing
6.2.3 Product Integration
6.2.4 Input Suppliers
6.3 Trends
6.3.1 Artificial Intelligence
6.3.2 Microdisplay

7 Display Trends of AR and VR Display
7.1 Introduction
7.2 Liquid Crystal Display (LCD)
7.3 Organic Light-Emitting Diode (OLED)
7.4 Liquid Crystal on Silicon (LCOS)
7.5 Micro-LED
7.6 Digital Light Processing (DLP)

8 AR and VR Display Market, By Technology
8.1 Introduction
8.2 AR
8.2.1 HMDS and HUDS to Play Crucial Role in High Growth of AR Technology in Market
8.3 VR
8.3.1 Use of VR HMDS in Consumer Application to Drive Growth of VR Technology in Market

9 AR and VR Display Market, By Device Type
9.1 Introduction
9.2 Hmd
9.2.1 AR Hmd
9.2.1.1 Use of AR HMDS in Enterprise Application Offers Growth Opportunities
9.2.2 VR Hmd
9.2.2.1 Gaming and Entertainment to Drive Use of VR HMDS
9.3 Hud
9.3.1 Use of AR HUDS in Automotive and Aerospace & Defense to Play Crucial Role to Drive Growth
9.4 Projectors
9.4.1 Use of Projectors in Commercial Application to Drive Growth

10 AR and VR Display Market, By Application
10.1 Introduction
10.2 AR Display Applications
10.2.1 Consumer
10.2.1.1 Gaming
10.2.1.1.1 Increased Demand for AR-Based Gaming Will Drive Growth of Consumer Application
10.2.1.2 Sports and Entertainment
10.2.1.2.1 Sports Broadcasting to Play Crucial Role in High Growth of Sports and Entertainment Application
10.2.2 Commercial
10.2.2.1 Use of AR in Education and Tourism to Drive Growth of Commercial Application
10.2.3 Enterprise (Manufacturing)
10.2.3.1 Augment of Industry 4.0 Will Be Major Growth Avenue for Enterprise Application
10.2.4 Automotive
10.2.4.1 Use of AR HUDS Onto Windshield Will Play Crucial Role in Market Growth
10.2.5 Healthcare
10.2.5.1 Reduction in Complexity for Surgeries and Procedures Will Drive the Use of AR in Healthcare Application
10.2.6 Aerospace & Defense
10.2.6.1 Use of AR Devices to Gain Competitive Advantage in Aerospace & Defense Application
10.2.7 Energy
10.2.7.1 Use of AR for Improving Safety, and Maintenance & Repair Will Play Crucial Role in Growth of Energy Application in AR Display Market
10.2.8 Others
10.3 VR Display Applications
10.3.1 Consumer
10.3.1.1 Gaming
10.3.1.1.1 Immersive Gaming to Drive Growth of VR Gaming Application
10.3.1.2 Sports and Entertainment
10.3.1.2.1 Improved Athletic Performance Using VR to Drive Growth of the Market in Sports & Entertainment Application
10.3.2 Commercial
10.3.2.1 Virtual Classrooms to Play Crucial Role in Growth of VR Display Market
10.3.3 Enterprise (Manufacturing)
10.3.3.1 Training and Simulation to Be Major Growth Avenues in Enterprise Application
10.3.4 Healthcare
10.3.4.1 Intraprocedural Visualization and Patient Rehabilitation to Be Major Growth Factors in Healthcare Application
10.3.5 Aerospace & Defense
10.3.5.1 Use of Combat Simulations to Be Leading Driver for Growth of Aerospace & Defense Application
10.3.6 Others

11 Geographic Analysis
11.1 Introduction
11.2 APAC
11.2.1 China
11.2.1.1 Local Producers of VR and AR Devices Will Drive Growth of Market in China
11.2.2 Japan
11.2.2.1 Use of AR and VR in International Gaming Events Will Play Crucial Role in High Growth of Market in Japan
11.2.3 India
11.2.3.1 Attractive Market Opportunity and Increasing Number of AR and VR Startups Will Drive Growth of AR and VR Display Market in India
11.2.4 South Korea
11.2.4.1 Advent of 5G in the Region Along With Growing Demand for HMDS for Gaming Applications to Boost Growth of Market in South Korea
11.2.5 Rest of APAC
11.3 North America
11.3.1 US
11.3.1.1 Strong Presence of AR Hmd Companies in the US Likely to Drive the Market
11.3.2 Canada
11.3.2.1 Use of AR and VR in Enterprise Application Would Drive Growth of Market in Canada
11.3.3 Mexico
11.3.3.1 Large Video-Gaming Industry in the Country Likely to Drive Growth of Market
11.4 Europe
11.4.1 UK
11.4.1.1 Large Video-Gaming Industry in the Country Likely to Drive Growth of Market
11.4.2 Germany
11.4.2.1 Automation in Manufacturing Would Boost Market Growth in Germany
11.4.3 France
11.4.3.1 High Demand for AR and VR in Aerospace & Defense to Boost Its Growth in France
11.4.4 Rest of Europe
11.5 RoW
11.5.1 the Middle East & Africa
11.5.1.1 Use of AR and VR in Oil & Gas and Mining to Drive Growth of Market in Middle East & Africa
11.5.2 South America
11.5.2.1 Growing Market for Gaming and Entertainment in South America to Propel Growth of Market

12 Competitive Landscape
12.1 Introduction
12.2 Ranking Analysis of Players in the AR and VR Display Market
12.3 Competitive Leadership Mapping
12.3.1 Visionary Leaders
12.3.2 Dynamic Differentiators
12.3.3 Innovators
12.3.4 Emerging Companies
12.4 Competitive Situations and Trends
12.4.1 Product Launches and Developments
12.4.2 Agreements, Partnerships, Contracts, Joint Ventures, and Collaborations
12.4.3 Mergers and Acquisitions

13 Company Profiles
13.1 Introduction
13.2 Key Players
13.2.1 Samsung Electronics
13.2.2 Sony
13.2.3 Emagin Corporation
13.2.4 Kopin Corporation
13.2.5 LG Display
13.2.6 Japan Display (JDI)
13.2.7 Syndiant
13.2.8 AU Optronics
13.2.9 Barco
13.2.10Seiko Epson
13.2.11 BOE Technology
13.2.12 Holoeye Photonics
13.3 Key Innovators
13.3.1 Himax Technologies
13.3.2 Innolux Corporation
13.3.3 Truly International
13.3.4 Creal3D
13.3.5 Int Tech (Chuangwang)
13.3.6 Jasper Display Corp. (JDC)
13.3.7 Olightek
13.3.8 Everdisplay Optronics
13.3.9 New Vision Display (NVD)
13.3.10 Raontech
13.4 Other Players
13.4.1 Universal Display Corporation
13.4.2 Fraunhofer Fep
13.4.3 Industrial Technology Research Institute (ITRI)
13.4.4 Google
13.4.5 Vuzix
13.4.6 Magic Leap
13.4.7 Oculus
13.4.8 HTC

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