“Growing investments by technology giants pertaining to the development of near-eye display based AR and VR devices are set to drive the growth of the market”

The global near-eye display market size is estimated to be USD 1.7 billion in 2022 and is projected to reach 5.3 billion by 2027, at a CAGR of 24.7% during the forecast period. The market has a promising growth potential due to several factors, including the emergence of metaverse, surge in the use of OLEDoS micro displays, and rising adoption of AR and VR devices.

Near-eye displays are becoming popular in emerging fields of virtual reality (VR), augmented reality (AR), and wearable computing. They have the power to create novel experiences that potentially revolutionize applications in aerospace & defense, medical, automotive, consumer, and several other sectors. Further, the small form factor, light weight, high portability, very low power consumption, and the ability to see-through are some key advantages of near-eye display solutions, boosting their demand.

“OLEDoS: The fastest-growing segment of the near-eye display market, by technology. “

OLED technology-based near-eye displays are fabricated on a silicon surface called silicon-based OLED or OLEDoS. OLEDoS technology has a driving circuit based on semiconductor CMOS silicon rather than the TFT line. Hence, the technology has better specifications in terms of resolution and size than other technologies deployed in near-eye displays. Also, market players have started adopting organic growth strategies to strengthen their portfolio of OLEDoS technology-based near-eye display products. For example, SeeYA Technology started manufacturing OLEDoS displays for smart wearables in 2020. Therefore, the market for OLEDoS technology-based near-eye displays is likely to grow at the fastest rate during the forecast period.

“Medical: The largest growing vertical of the near-eye display market.”

With the ongoing advancements in the healthcare sector, the medical industry is likely to be the fastest-growing market for near-eye displays during the forecast period. Technological advancements include VR diagnostics, VR surgery, and AR for visualization and training assistance. Further, ongoing developments in the AR and VR markets are expected to propel the growth of the near-eye display market.

“North America: The largest region in the near-eye display market.”

North America led the near-eye display market in 2021. Investments in display technologies made by the major players in the US have led the market growth in this region. The increased adoption of new technologies, such as LCoS, OLEDoS, and AMOLED, in the near-eye display products by North American players such as Kopin Corporation; eMagin Corporation; Syndiant, Inc.; and several other leading companies is the key driving factor for the market growth in the region. Moreover, the growing use of smartphones, the rising consumption of smart electronic devices, and the surging demand for AR and VR technologies in healthcare applications also boost the near-eye display market growth in the region.

Breakdown of primaries

The study contains insights from various industry experts, ranging from component suppliers to Tier 1 companies and OEMs. The break-up of the primaries is as follows:

• By Company Type– Tier 1- 45%, Tier 2- 35% Tier 3 – 20%
• By Designation— C level – 35%, Managers – 25%, Other Level – 40%
• By Region— North America – 40%, Europe – 37%, Asia Pacific – 15%, RoW  – 8%,

The near-eye display market is dominated by a few globally established players such as Sony Group Corporation (Japan), Himax Technologies, Inc. (Taiwan), Kopin Corporation (US), eMagin Corporation (US), and MICROOLED Technologies (France).

The study includes an in-depth competitive analysis of these key players in the structured cabling market, with their company profiles, recent developments, and key market strategies.

Research Coverage:

The report segments the near-eye display market and forecasts its size, by volume and value, based on region (Asia Pacific, Europe, North America, and RoW), technology (TFT LCD, AMOLED, LCoS, OLEDoS,

MicroLED, DLP, and Laser BeamScanning), device type (AR devices, VR devices, and others), and verticals (Aerospace & defense, medical, automotive, consumer, and others).

The report also provides a comprehensive review of market drivers, restraints, opportunities, and challenges in the near-eye display market. The report also covers qualitative aspects in addition to the quantitative aspects of these markets.

Key Benefits of Buying the Report:

The report will help the leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall market and the sub-segments. This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the near-eye display market and provides them information on key market drivers, restraints, challenges, and opportunities.