Near-Eye Display Market Worth $5.3 Billion by 2027

CHICAGOMay 9, 2022 /PRNewswire/ — According to an investigative report Near-Eye Display Market by Technology (TFT LCD, OLEDoS, LCoS, MicroLED, AMOLED, DLP, Laser Beam Scanning), Device Type (AR, VR), Vertical (Consumer, Medical, Aerospace & Defense, Automotive) and Geography – Global Forecast to 2027″published by MarketsandMarkets™, the global market size for Near-Eye Displays is estimated at USD 1.7 billion in 2022 and expected to reach USD 5.3 billion by 2027, at a CAGR of 24.7%. Rising investments and innovations from the tech giants and the rise of the Metaverse play a key role in driving the growth of the near-eye display market in the near future.

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Adoption of OLEDoS technology in VR and MR devices fuels market growth

Advanced features offered by OLEDoS technology such as energy efficiency, compactness and no requirement for external lighting and its use in AR and MR devices and EVFs are likely to lead to strong demand for this technology during the forecast period. Also, the technology has better specifications in terms of resolution and size than other technologies used in near-eye displays. Therefore, the technology projects to the largest share in 2027.

Increasing Applications of AR Devices to Accelerate Demand for Near-Eye Displays

The use of near-eye-based AR devices in the consumer, medical and automotive sectors is expected to fuel the growth of the near-eye display AR devices market. AR devices are expected to become a popular choice among consumer industry users; therefore, companies are planning to expand their presence in the consumer sector. Thus, these developments would drive the growth of the AR device segment of the near-eye display market in the near future

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Asia-Pacific likely to become the largest near-eye display market

Asia-Pacific is estimated to be the largest near-eye display market during the forecast period. The Asia-Pacific The market is mainly driven by the presence of many key companies and the emerging number of startups in the region. The easy availability of lightweight and cost-effective HMDs based on near-eye displays in Asia-Pacific would lead to high adoption of these products in consumer applications, encouraging more companies from the region to invest in AR and VR HMDs, driving the near-eye display market.

Sony Group Corporation (Japan), Himax Technologies, Inc. †Taiwan), Kopin Corporation (US), eMagin Corporation (US), MICROLED Technologies (France), BOE Technology Group Co., Ltd. †China), Syndiant, Inc. (USA), Plessey (England), JBD Xianyao display technology (China), TriLite Technologies GmbH (Austria) are some of the major players in the Near-Eye Display Market.

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