Virtual Retinal Display Market Opportunities, Challenges and Growth Factors 2023
Virtual Retinal Display (VRD) Market – Highlights:
global virtual retinal display market that determines prosperity for this market at 44.30% CAGR (Compound Annual Growth Rate) between 2017 and 2023. By value, the market has been figured to be worth the US $ 23.84 mn by the end of the forecast period.
The virtual retinal display market is segmented on the basis of components, vertical and region. On the basis of component, the market is segmented into optics, driver & controller electronics, light source and others. By vertical the market is segmented into healthcare, aerospace and defense, consumer electronics, automotive and others. Among all the segment, the healthcare segment is expected to have considerable growth opportunities as the healthcare segment have its applications in radiology, therapeutics and surgery.
The critical factors for global virtual retinal display market growth include demand for better image quality, low-cost display options, optimized power consumption, and capability to provide clear display of image even in the most flickering as well as inconsistent environments. However, the lack of awareness and threat of retina damage due to some harmful light radiations in the VRD technology can hinder the market growth.
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The key players in the global virtual retinal display market include Avegant Corporation (USA), Brother Industries Ltd. (Japan), Human Interface Technology Laboratory (New Zealand), Google Inc (USA), HTC Corp. (Taiwan), Innovega Inc. (USA), Magic Leap (USA), Microvision Inc (USA), Occulus VR (USA), Sony Corp. (Japan), Texas Instruments (USA), and Vuzix Corp (USA).
Latest Industry News
27 MAR 2019 AT&T is set to showcase the introduction of Magic Leap One, a virtual retinal display virtual reality goggle.
2 APR 2019 California-based Ocutrx Vision Technologies LLC, which is an advanced research and development (R&D) manufacturer of AR glasses, has been issued the US patent that will protect the company’s unique eye-tracking technology for patients not only with macular degeneration but also other low vision conditions.
The global virtual retinal display market segmentation segments the market into components, vertical, and lastly, region. The component-based segmentation can segment this market into the light source, optics, driver & controller electronics, and others. Based on verticals, the market segmentation is covering aerospace & defense, automotive, consumer electronics, healthcare, and others. During the forecast period, the healthcare segment is expected to have considerable growth opportunities than other segments because this segment has its applications in radiology, surgery, and therapeutics.
The global market for virtual retinal display is estimated to grow at a significant rate during the forecast period from 2018 to 2023. The geographical analysis of virtual retinal display is covered for North America, Europe, Asia-Pacific, and the rest of the world.
North America is expected to dominate the virtual retinal display market being a technically adavanced region and due the presence of many key players in the region such as Goggle and Microsoft. Also the existence of emerging startups primarily focusing on the display technologies such as Occulus and MagicLeap are a major driving force behind the growth of virtual retinal display market in this region. Further, the rising demand for augmented reality and virtual reality in the region is expected to drive the growth of this market, over the forecast period.
The Asia pacific region is expected to grow at the fastest rate owing to the rising demand in consumer electronics and gaming appliactions from the developing countries such as India, China, Japan and South Korea. Further, the rising trend of augmented and virtual reality is expected to drive the market in the years to come.
TABLE OF CONTENTS
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.1 Research Objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure
3 Market Research Methodology
3.1 Research Process
3.2 Secondary Research
3.3 Primary Research
3.4 Forecast Model
LIST OF TABLES
Table 1 Global Virtual Retinal Display Market, By Region, 2018–2023
Table 2 North America: Virtual Retinal Display Market, By Country, 2018–2023
Table 3 Europe: Virtual Retinal Display Market, By Country, 2018–2023
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LIST OF FIGURES
FIGURE 1 Global Virtual Retinal Display Market Segmentation
FIGURE 2 Forecast Methodology
FIGURE 3 Porter’s Five Forces Analysis Of Global Virtual Retinal Display Market
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