Global AR and VR Display Market Size, Share & Trends Analysis Report by Technology (AR and VR), Device Type (AR HMDs, VR HMDs, AR HUDs, and VR Projectors), Display Technology (LCD, OLED, Micro-LED, DLP, and LCoS), Applications (Consumer, Commercial, Enterprise, Automotive, Healthcare, Aerospace & Defense, Energy, and Others), and Regions (North America, Europe, Asia Pacific, Latin America, MEA) Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028

The global AR and VR display market is expected to surpass USD 5 million by 2028, expanding at a CAGR of 38.7% during the forecasted period from 2021 to 2028. AR/VR devices are used in various fields such as healthcare and entertainment. Rapid advancements in digital processing, optical elements, and display technologies, are fueling the VR and AR products. Rising adoption of AR and VR HMDs in numerous industries and use of AR and VR devices in the gaming industry are some of the key factors driving the AR and VR display market.

COVID-19 Analysis:

The COVID-19 outbreak emerged as a global pandemic and spread across the globe, which  adversely impacted various industries and  economies globally. The pandemic disrupted the supply chain of various industries, such as automotive, retail, sports and entertainment, education, the AR and VR display market. The pandemic disrupted the global supply chain, halted production, and declined sales. Application of lockdowns across the globe hampered operations of AR and VR display manufacturing units due to limited availability of labor and raw materials, which postponed many scheduled product launches and related developments However, the impact of crisis is expected to subside during the forecast period.

Market Dynamics (Trends, Drivers, Restraints, and Opportunities)

• Rapid adoption of AR and VR devices in numerous industries such as retail, healthcare, automotive, and sports, is fueling the market.
• The use of AR and VR devices provides innovative ways for designing, manufacturing, and selling, which has transformed businesses and led to the growth in the adoption of AR and VR HMDs in different industries, thus driving the market during the forecast period.
• Display latency, limited field of view, and controlled availability of relevant content are anticipated to impede the market during the forecasted period
• Manufacturing of AR and VR displays includes complex processes, which in turn, restrains the market.
• Constant advancements in technology have led to development of widescreen alternatives for AR and VR displays, which restrict the market.
• High demand for AR and VR devices due to COVID-19 outbreak, is increasing investments in AR and VR ecosystem, thus creating lucrative opportunities in AR and VR display market.
• Technological advancements are leading to more use of micro displays in AR and VR devices, thus surging the adoption of AR technology for enterprise applications, which is creating opportunities in the market.

Scope of the Report

The report on the global AR and VR display market includes an assessment of the market, size, share, trends, segments, and regional markets. Overview and dynamics have been included in the report that throws light on the different market segments for a comprehensive understanding.

Segment Overview

Based on device type, the global AR and VR display market is segmented into AR HMDs, VR HMDs, AR HUDs and VR Projectors. The head mounted displays (HMDs) segment is projected to dominate the market, due to growing applications of AR HMDs in healthcare, enterprise consumer, commercial, enterprise, aerospace & defense, and automotive sectors.

Based on technology, the market is divided into augmented reality AR and VR. In terms of display technology, the market is trifurcated into LCD, OLED and others. The others segment includes Micro-LED, LCoS, and DLP. On the basis of end-users, the global AR and VR market is categorized as consumer, commercial, enterprise, automotive, healthcare, aerospace & defense, energy, and others.

Based on regions, the global AR& VR display market is segregated into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific dominates the global market owing to the presence of prominent AR and VR display manufacturers in the region.

Recent Developments

• In February 2021, eMagin Corporation Signed an agreement with Bild Innovative Technology, which enabled it to provide the latter with compact driver boards line of OLED micro display to customers.
• In October 2020, LG Display announced its 3-year innovation partnership agreement with The Walt Disney Studios’ StudioLAB. The partnership is expected to create superior viewing experiences featuring cutting-edge OLED display technology in  Studios’ world-class content.
• In August 2020, LG Display participated in 2020 Society for Information Display (SID) conference held between August 3 and 7. It showcased newly developed OLED displays, including AR/VR and 3D.
• In February 2020, JDI started mass production of a 2.1″ 1058 PPI LTPS TFT-LCD, specially designed for virtual reality head-mounted displays (VR-HMD).

Segments

Key segments covered in the Report
By Technology

• AR
• VR

By Device Type

• AR HMDs
• VR HMDs
• AR HUDs
• VR Projectors

By Display Technology

• LCD
• OLED
• Others
• Micro-LED
• LCoS
• DLP

By End-users

• Consumer
• Commercial
• Enterprise
• Automotive
• Healthcare
• Aerospace & Defense
• Energy
• Others

By Regions

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

By Key Players

• eMagin Corporation
• Kopin Corporation
• Samsung Electronics
• AU Optronics
• Japan Display
• Barco
• Sony
• LG Display
• BOE Technology
• Syndiant

Competitive Landscape

Key players in the global AR and VR display market include eMagin Corporation, Kopin Corporation, Samsung Electronics, AU Optronics, Japan Display, Barco, Sony, LG Display, BOE Technology, and Syndiant.