Virtual Retinal Display Market Size was valued at USD 1.5 billion in 2022. The Virtual Retinal Display market is projected to grow from USD 2.1 Billion in 2023 to USD 36.6 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 42.6% during the forecast period (2023 - 2032). Compared to other screens, the retina display is extremely safe and secure. The retina display user may modulate the display's brightness with his voice. People can now operate in any setting without worrying about security or privacy because of the acceptance of this technology, which will act as the key market drivers enhancing market growth.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Market CAGR is expected to rise as the aerospace and defense industries can employ the technology to reduce the severe eye strain caused by night vision goggles. Applications in the healthcare industry are numerous and vary from helping to identify cancer to treating trauma. The virtual retinal display is much more energy-efficient than the postage-stamp LCD panels in today's mobile gadgets. Because this sector was an early adopter of the technology and the demand generated for augmented reality and virtual reality applications by consumers, the gaming and entertainment business application is driving demand for the virtual retinal display market.
The market is propelled by the expanding use of virtual retina displays (VRD) in the simulation & training, healthcare, and entertainment sectors. The market for virtual retinal displays is largely propelled by advantageous characteristics, including low power consumption and the capacity to create high-resolution pictures in real-time. The need for small, portable wearables that can give users essential data in real-time drives the market for virtual retinal displays. The gaming, entertainment, and sports industries are seeing increased demand for these devices. Such technology is also necessary in the engineering and medical fields for a range of applications. VRD makes it simple to produce images that may be viewed in ambient daylight and natural light.
A surgical display would benefit greatly from VRD because of its high brightness, contrast, and resolution. Additionally, research indicates that VRDs have substantial commercial potential as a display option for persons with poor vision. Because it mimics the experience and does not require a physical setup, VRD technology is also anticipated to be widely used for training and simulation activities.
The VRD industry is driven by the demand for small, lightweight wearables to give consumers real-time data. The gaming, entertainment, and sports industries have a rising demand for such gadgets. The engineering and medical sectors also require this technology. VRD easily produces images that can be viewed in natural daylight as well as images that can be easily observed in ambient room light. Thus, driving the Virtual Retinal Display market revenue.
The Virtual Retinal Display Market segmentation, based on components, includes optics, driver and controller electronics, light source, and others. The light source segment dominated the market, accounting for 45% of market revenue (78.48 billion). Although LEDs can be used in some applications, lasers are frequently the light sources in the VRD. A single red laser diode with a wavelength of 650 nm is employed for a monochrome display.
Figure 1: Virtual Retinal Display Market, by Component, 2022 & 2032 (USD billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The Virtual Retinal Display Market segmentation, based on vertical, includes automotive, consumer electronics, aerospace & defense, healthcare and others. The consumer electronics category generated the most income in 2022. The entertainment sector is becoming increasingly interested in virtual and augmented reality. With the aid of modern retinal display devices, augmented reality technology is mostly utilized in games and animations in the real world. In the entertainment sector, 3D movies require special eyeglasses. To improve the viewing experience for the audience, smart glasses have taken their position recently. Another use of smart glasses is a virtual reality moviegoing experience. Due to the strong demand and tendency for purchases, companies like Avegant and Magic Leap have joined this market. Today's tech-savvy age requires cutting-edge gaming and media solutions and immersive experiences. As a result, businesses have created words like "personal theatre" to market different products.
By Region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North American market area will dominate this market. Notably, a few firms are seeking money to support the R&D and commercialization of the product due to the extraordinary benefits of the virtual retinal display, including its low weight, wider field of view, greater resolution, and adequate contrast and brightness ratio.
Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: VIRTUAL RETINAL DISPLAY MARKET SHARE BY REGION 2022 (%)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe Virtual Retinal Display market accounts for the second-largest market share. In addition, the rapid demand for augmented and virtual reality in the region is expected to drive growth over the forecast period. Further, the German Virtual Retinal Display market held the largest market share, and the UK Virtual Retinal Display market was the fastest growing market in the European region
The Asia-Pacific Virtual Retinal Display Market is expected to grow at the fastest CAGR from 2023 to 2032. The virtual retinal display is a cutting-edge technology for virtual and augmented reality, and the businesses involved in these fields stand to gain significantly from early market penetration. Moreover, China’s Virtual Retinal Display market held the largest market share, and the Indian Virtual Retinal Display market was the fastest growing market in the Asia-Pacific region.
For instance, The US Congressional Budget Office predicts that through 2032, spending in the defense sector would rise annually in the US. Defense spending in the United States reached USD 760 billion in 2022. According to the prediction, defense spending might rise by up to $998 billion by 2032. Governments' growing spending in the defense sector are fueling the market for virtual retinal displays.
Leading market players to provide a broad product range, market participants are boosting their spending in research and development departments. By engaging in market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations, these companies are also pursuing various strategic efforts to expand their worldwide presence. Additionally, the leading companies in the Virtual Retinal Display industry started pricing their goods reasonably.
Increasing their regional and local presence is one of the main strategies the market leaders use in the global Virtual Retinal Display industry sector. The global Virtual Retinal Display industry company has recently produced goods with some of the most important advantages. Major players in the Virtual Retinal Display market include Google Inc, Avegant Corporation, Occulus VR, Human Interface Technology Laboratory, Magic Leap, Texas Instruments, and Microvision Inc.
Online advertising, search engine technology, cloud computing, computer software, quantum computing, e-commerce, artificial intelligence, and consumer electronics are the main areas of interest for Google LLC, an American multinational technology firm. Due to its market domination, data collecting, and technological advantages in artificial intelligence, it has been called "the most powerful company in the world" and one of the most valuable brands globally. Along with Microsoft, Amazon, Apple, Meta, and Apple, its parent firm Alphabet is regarded as one of the Big Five American technological corporations. While pursuing their PhDs at Stanford University in California, computer scientists Larry Page and Sergey Brin started Google on September 4, 1998. Together, they possess around 14% of their publicly traded shares and, through super-voting stock, 56% of their shareholder voting power.
Texas Instruments Incorporated (TI) is an American technological business with its main office in Dallas, Texas. It creates and produces integrated circuits and semiconductors, which it then sells to producers and designers of electronics worldwide. According to sales volume, it is one of the top 10 semiconductor businesses in the world. The firm concentrates on creating embedded CPUs and analog circuits, which provide more than 80% of its sales. Calculators, microcontrollers, and multi-core processors are among the educational technology items that TI also makes using its digital light processing technology. As of 2016, the business has 45,000 patents globally. After Geophysical Service Incorporated, a business established in 1930 that produced equipment for the seismic industry and defense electronics, was reorganized, Texas Instruments was created in 1951.
December 2022 It has been confirmed by Meta that it intends to develop a Retina-resolution VR headset. According to Meta, Quest Pro has 10% higher PPD than Meta Quest 2. (22 vs. 20 PPD). The PPD value quantifies the number of pixels within 1° of the field of vision while considering the screen and optics. In contrast, the "resolution" of the Retina is around 60 PPD, which is also the target figure for Meta. Display researchers unveiled the Butterscotch prototype during the summer, which achieves 55 PPD but has just half of Meta Quest 2's field of vision.
March 2022 The 10th International Congress on OCT and OCT Angiography will be attended by eMagin Corporation, a pioneer in high-resolution OLED microdisplays development, design, and production for AR/VR and other near-eye imaging technologies. The displays from eMagin have a broad color spectrum. Medical applications benefit greatly from high contrast, small form factors, and ultra-high resolution. OLED microdisplays that are appropriate for medical usage and employed in ophthalmic applications such as retinal surgery, imaging, diagnostics, and teaching will be shown by eMagin.
North America
Europe
Asia-Pacific
Rest of the World
Middle East
Africa
Latin America
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 1.5 billion |
| Market Size 2023 | USD 2.1 billion |
| Market Size 2032 | USD 36.6 billion |
| Compound Annual Growth Rate (CAGR) | 42.6% (2023-2032) |
| Base Year | 2022 |
| Market Forecast Period | 2023-2032 |
| Historical Data | 2019- 2021 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Component, Vertical, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The U.S., Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Google Inc, Avegant Corporation, Occulus VR, Human Interface Technology Laboratory, Magic Leap, Texas Instruments, Microvision Inc, Vuzix Corp, Sony Corp., HTC Corp., Brother Industries Ltd., Innovega Inc. |
| Key Market Opportunities | Rising Applications in Aerospace and Defense Sectors |
| Key Market Dynamics | Increasing Disposable Income |
Frequently Asked Questions (FAQ) :
The Virtual Retinal Display Market size was valued at USD 1.5 Billion in 2022.
The global market is projected to grow at a CAGR of 42.6% during the forecast period, 2023-2032.
North America had the largest share in the global market
The key players in the market are Google Inc, Avegant Corporation, Occulus VR, Human Interface Technology Laboratory, Magic Leap, Texas Instruments, and Microvision Inc.
The Driver and Controller Electronics category dominated the market in 2022.
The Consumer Electronics had the largest share in the global market.
Team Lead - Research she holds an experience of about 6+ years in market research and business consulting, working under the spectrum of information communication technology, telecommunications and semiconductor domains. aarti conceptualizes and implements a scalable business strategy and provides strategic leadership to the clients. her expertise lies in market estimation, competitive intelligence, pipeline analysis, customer assessment, etc.
Get in Touch
© 2024 Market Research Future ® (Part of WantStats Reasearch And Media Pvt. Ltd.)
