Near-Eye Display Market to Surpass USD 17.08 Billion by 2032 Driven by AR/VR and Wearable Tech Advancements

The Near-Eye Display (NED) market has seen significant growth, driven by advancements in augmented reality (AR) and virtual reality (VR) technologies.

AUSTIN, TX, UNITED STATES, January 24, 2025 /EINPresswire.com/ -- Market Size & Industry Insights

As Per the SNS Insider,“The Near-Eye Display Market size was USD 2.31 Billion in 2023 and is expected to reach USD 17.08 Billion by 2032, growing at a CAGR of 24.90% over the forecast period of 2024-2032.”

Surge in Near-Eye Display Adoption Driven by AR/VR Advancements and Government Initiatives

The Near-Eye Display market is experiencing tremendous growth, mainly because of the advancements in AR/VR technologies. Countries like Japan, China, the U.S., France, Germany, and India are highly supportive of NED adoption through government initiatives. Japan's "Digital Japan Initiative" and China's "Made in China 2025" focus on enhancing AR/VR technologies, and the U.S. invests in defense and healthcare applications. Technological advancement in microLED and OLED displays, coupled with waveguide and holographic technologies, is improving the performance of NED.

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SWOT Analysis of Key Players as follows:
- Sony Corporation
- Samsung Electronics
- Microsoft Corporation
- Google LLC
- Apple Inc.
- Magic Leap
- Meta Platforms Inc.
- HTC Corporation
- Vuzix Corporation
- Panasonic Corporation
- NVIDIA Corporation
- Intel Corporation
- Himax Technologies
- Kopin Corporation
- BOE Technology Group
- LG Display
- WaveOptics
- eMagin Corporation
- MicroVision
- Lumus

Segment Analysis

By Components

The Image Generators segment held the largest market share in 2023, accounting for 38% of the market. An advance in microOLED and micrOLED technologies has taken performance to very high levels due to critical ingredients in generating images of high quality for AR and VR. Their parts have brightness, contrast, and resolution high enough to render them indispensable to be used in manufacturing immersion experiences through near-eye display devices.

The Optical Combiners segment is expected to experience the fastest growth, with a projected CAGR of 25.05% from 2024 to 2032. The Optical combiners, which are pivotal in AR applications, merge physical and digital elements into optical and transparent experiences. The requirement for these parts is growing because of emerging holographic and waveguide-based technologies. Smart glasses and AR-enabled devices are in demand in industries and consumer markets.

By Industry

In 2023, the Consumer segment dominated the market, accounting for 35% of the total share. Demand growth from the increasing gaming and entertainment interest in VR headsets and AR-enabled smart glasses is the sector's main source of growth. Growing consumer interest in high-quality AR/VR immersive experience devices continues unabated, most especially in such regions as Japan and the U.S., where devices with lightweight yet high-resolution and wide fields of view are in high demand.

The Medical segment is expected to grow at the fastest rate, with a projected CAGR of 26.06% from 2024 to 2032. Near-eye displays change healthcare with uses like AR-guided surgeries, diagnosis tools, and training simulations. As governments continue to back their use in hospitals, countries including Germany and India see an adoption of these new technologies in their hospitals.

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KEY MARKET SEGMENTS:

By Technology
Laser Beam Scanning
TFT LCD
LCoS
MicroLED
AMOLED
OLEDOS
DLP

By Components
Image Generators
Imaging Optics
Optical Combiners

By Device Type
AR Devices
VR Devices
Others

By Industry
Consumer
Aerospace & Defense
Automotive
Medical
Others

Key Regional Development

North America was the largest market for near-eye displays in 2023, holding 34% of the global market share. The dominance of this region is mainly attributed to the fact that AR/VR technologies were embraced much earlier than other regions, with considerable government support, especially through the U.S. Department of Defense's investments in immersive training tools. Such advancements have further led to the proliferation of near-eye displays across various sectors, including defense and healthcare.

The Asia-Pacific region is expected to experience the fastest growth, with a projected CAGR of 25.51% from 2024 to 2032. It is driven by rising demand for consumer electronics in China, Japan, and India and is furthered by the incentives offered by the governments of these countries toward technological innovation. This is coupled with the rapid 5G rollout in China and the "Digital India" initiative in India.

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Recent Developments

-September 2024: Sony Semiconductor Solutions Corporation (SSS) introduced a new 0.44-inch Full HD OLED Microdisplay, the ECX350F, which sets new records for pixel density (5.1 µm) and peak brightness (up to 10,000 cd/m²). This innovation marks a significant milestone in the development of near-eye display technologies.

-August 2024: Samsung Display unveiled a new OLED microdisplay at K-Display 2024, featuring a 1.3-inch display with a peak brightness of 12,000 nits and a pixel density of 4000 PPI. This new display represents a breakthrough in OLED microdisplay technology, potentially enhancing the user experience in AR/VR applications.

Table of Content - Major Points Analysis

Chapter 1. Introduction

Chapter 2. Executive Summary

Chapter 3. Research Methodology

Chapter 4. Market Dynamics Impact Analysis

Chapter 5. Statistical Insights and Trends Reporting

Chapter 6. Competitive Landscape

Chapter 7. Near-Eye Display Market Segmentation, by Technology

Chapter 8. Near-Eye Display Market Segmentation, by Components

Chapter 9. Near-Eye Display Market Segmentation, by Device Type

Chapter 10. Near-Eye Display Market Segmentation, by Industry

Chapter 11. Regional Analysis

Chapter 12. Company Profiles

Chapter 13. Use Cases and Best Practices

Chapter 14. Conclusion

Continued…

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Akash Anand
SNS Insider
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