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Virtual Retinal Display Market Research Report - Forecast to 2027

Virtual Retinal Display Market Research Report, Component (Optics, Driver and Controller Electronics, Light Source, Others), Vertical (Automotive, Consumer Electronics, Aerospace & Defense, Healthcare and Others) - Forecast till 2027

ID: MRFR/SEM/5503-HCR | February 2021 | Region: Global | 100 pages

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Market Overview


The Virtual Retinal Display Market is projected to grow at a CAGR of 30.25%. It is projected that the market value will expand up to USD 40.11 Million during the forecast period 2019-2026. The Virtual Retinal Display plays a major role to scan the modulated laser light on the retina of the eye to create a virtual image. Similar to the CART scan, the device scans only one pixel. Along with that, it receives signals from a video camera and then modulates light as per the intensity of the pixels from the light source.


It produces the best quality image with high resolution without flickering. The optimization of power consumption and capability for providing high-resolution images even during an inconsistent environment is the majorly driving the market. Along with that, the Virtual Retinal Displays have immense potential for offering low-cost alternatives which will open new opportunities for the market.


The Virtual Retinal Display Market on the basis of region is divided into North America, Latin America, Europe, Asia-Pacific, and the Rest of the World. During the forecast period, North America will hold the largest share and dominate the Virtual Retinal Display Market. It is mainly due to the growing use of augmented and virtual reality in the entertainment and animation industry. Furthermore, Asia-Pacific will have the highest growth rate in the forecast period. Hence, the market will have significant growth in the upcoming years.


COVID-19 Analysis


The outbreak of COVID-19 disease led to the economic disruption of several countries. Various industries including Virtual Retinal Display Market were disrupted. Strict measures were taken to curb the market su9ch as border lockdowns, social distancing, etc. As a result, the companies in these markets faced huge financial disruptions. However, with innovations in the healthcare sectors and vaccines, the market will have a gradual growth in the upcoming period.


Market Dynamics


Market Drivers


The increasing use of virtual reality in the entertainment and the gaming industry is the major driving factor for the market. Its various positive factors such as optimization in power consumption, and producing high-resolution images even in the inconsistent environment are majorly driving the Virtual Retinal Display Market.


Restraints


The low awareness about the use of augmented technology can be a huge hindrance for the market. Along with that, the risks of damaging the retina due to the radiations from harmful radiations from light can also slow down the growth of the Virtual Retinal Display Market.


Opportunities


There are various opportunities are estimated to fuel the market growth extensively. It can be used for various purposes such as defense, aerospace, and healthcare will have significant growth during the forecast period. Apart from that, it is also used to help out patients who have low vision. Hence, the market will have significant growth in the upcoming years.


Challenges


Some challenges may hinder the market growth during the forecast period. Challenges such as the availability of skilled professionals are expected to slow down the growth. Also, the high prove of components and lack of knowledge is a major challenge for the market. However, Virtual Retinal Display Market Forecast estimates that the market will have considerable growth despite these challenges.


Cumulative Analysis


According to the Virtual Retinal Display Market Analysis, the market value will expand up to USD 40.11 Billion. The Compound Annual Growth Rate (CAGR) of the market is projected to increase by 30.25%. Driving factors such as technological development in the entertainment and gaming industries will fuel the market growth. Also, the presence of several key players will benefit the market exponentially.


Value Chain Analysis


The uses of Virtual Retinal Displays in various sectors such as defense, aerospace, military, etc. will also provide new growth opportunities. Due to this reason, the value chain of the market will simultaneously improve in the upcoming years. Furthermore, the rapid technological advancements will also improve in the upcoming years. Hence, these factors will lead to the immense growth of the Virtual Retinal Displays in the upcoming years.


Market Segmentations


The Virtual Retinal Display Market Size is segmented into Components and Vertical. On the basis of vertical, the Virtual Retinal Display Market is segmented into Medical, Tactical and Aviation, Entertainment and Gaming, Simulation and Training, Engineering, Sports, and others.


On the basis of Virtual Retinal Display Market Component, the market is divided into Light Source, Controller and Driver Electronics, Optics, and others.


Regional Analysis


The Virtual Retinal Display Market on the basis of region is divided into North America, Europe, Latin America, Asia-Pacific, and the Rest of the World. In the upcoming years, North America will hold the largest Virtual Retinal Display Market Share during the forecast period. This region consists of major counties such as the US and Canada. The increasing use of virtual reality and augmented reality in gaming and entertainment, healthcare, etc. are the major reason for the extensive market growth.


Furthermore, the Asia-Pacific region is projected to have the highest market growth by the end of the forecast period. The growing demand for advanced products in the technical field and low-cost solutions will be favourable for the market growth.


Competitive Landscape


The key players play an important role in the development of the Virtual Retinal Display System. With strategies such as collaborations, mergers, acquisitions, product launches, the key players are expanding their business foothold. The key players in the Virtual Retinal Display Market are listed below.-



  • Magic Leap, Vuzix Corp (US)

  • Human Interface Technology Laboratory (New Zealand)

  • Occulus VR (US)

  • HTC Corp. (Taiwan)

  • Google Inc. (US)

  • Brother Industries Ltd. (Japan)

  • Avegant Corporation (US)

  • Microvision Inc. (US)

  • Sony Corp. (Japan)

  • Texas Instruments (US)

  • Innovega Inc. (US)


Recent Developments


No Recent Developments were found.


Report Overview


The overview of the Virtual Retinal Display Market Report is as follows-



  • Market Overview

  • COVID-19 Analysis

  • Dynamics of the Market

  • Value Chain Analysis

  • Market Segmentation

  • Regional Analysis

  • Competitive Analysis

  • Recent Development


The score of the report highlights the developments and potential of the market in the forecast period 2019-2026. It highlights the market value, drivers, opportunities, etc. The report also highlights the important role of key players and strategies to improve the market growth. Furthermore, the information in this report is collected from secondary and primary sources.


Segmentation


By Components


  • Light Source

  • Controller and Driver Electronics

  • Optics

  • Others


By Vertical


  • Medical

  • Tactical and Aviation

  • Entertainment and Gaming

  • Simulation and Training

  • Engineering

  • Sports

  • Others


By Region


  • North America

  • Europe

  • Latin America

  • Asia-Pacific

  • Rest of the World



Report Scope:
Report Attribute/Metric Details
  Market Size

  • 2019: USD 25.65 Million
  • 2027: Significant Value
  •   CAGR   30.25% (2019-2026)
      Base Year   2019
      Forecast Period   2020-2027
      Historical Data   2018
      Forecast Units   Value (USD Million)
      Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
      Segments Covered   Component and Vertical
      Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
      Key Vendors   Avegant Corporation (US), Google Inc (US), Occulus VR (US), Magic Leap (US), Human Interface Technology Laboratory (New Zealand), Texas Instruments (US) and Microvision Inc (US).
      Key Market Opportunities   The potential to provide low cost display options.
      Key Market Drivers

  • Optimized power consumption and capability
  • Capability to provide clear display of an image even in the most flickering and inconsistent environments


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    Frequently Asked Questions (FAQ) :

    The global reed sensor market was valued at USD 2.68 million in 2017.

    The global virtual retinal display market is expected to record a substantial market valuation of up to USD 23.84 million by 2023.

    The global virtual retinal display market is projected to register a moderate 44.30% CAGR in the forecast period.

    The consumer electronics segment is slated to expand as the fastest-growing segment.

    A few major market players operating in the global virtual retinal display market are Occulus VR (US), Google Inc (US), Magic Leap (US), Texas Instruments (US) and Microvision Inc (US), and others.