Continuous Advancement in Display Technologies Boosts Near-Eye Display Market

The near-eye display market was USD 1,709 million in 2022, which will increase to USD 9,799 million, growing at a 24.40% compound annual growth rate, by 2030. 

The growth is because head-mounted displays are progressively utilized across different applications, because of their benefits like small size, lightweight, low power consumption, transparency, and portability.  

Furthermore, these wearable products project a virtual image into the vision of both or one eye and the designed image is much larger than a very small display panel. These displays also enable users to design small, portable, and intimate viewing experiences. 

In the swiftly advancing disciplines of AR, VR, and wearable computing, near-eye displays are earning recognition. They can produce groundbreaking experiences that might transform applications in the medical, consumer, automotive, aerospace & defense, entertainment, and various other sectors. 

The medical category, on the basis of end user, generated USD 256 million in 2022, and it will advance at approximately 24.2% CAGR, during this decade. HMDs have been progressively utilized in the medical sector for various applications, such as preoperative planning, patient education, and surgical training in orthopedic processes.  

In addition, the technology has remained to enhanced, and VR/AR is becoming more common in orthopedic surgical education. 

In 2022, the TFT LCD category, on the basis of technology, was the largest contributor to the near-eye display market. This can be because it is generally employed in HMDs and wearable displays like see-through and immersive glasses, because of its capability to deliver high-resolution displays that can show detailed videos and images with exceptional color precision. 

Whereas, the acceptance of OLED is becoming a general option for HMDs, and this category will propel significantly during this decade. This can be because of its enhanced advantages like deep blacks, vibrant colors, and high contrast ratios. Moreover, OLEDs have quicker response times compared to LCDs, which can assist in decreasing latency as well as blurs in fast-paced games. 

The requirement for VR systems has observed a significant increase in recent years. This technology can transform lives as well as the way people socialize at their work. 

APAC was a significant contributor to the industry in 2022. This can be because of technological development, extensive acceptance of VR and AR in the entertainment and gaming sectors, and the existence of several major producers in this region.  

Furthermore, the rising disposition of numerous Gen Z as well as millennials toward the gaming culture is raising the acceptance of this technology in this region. 

It is because of the constant progression in display technologies, the near-eye display industry will continue to progress in the years to come. 

SOURCE: P&S Intelligence