Virtual Retinal Display Market Size 2023-2028 | Latest Trends & Industry Growth
IMARC Group has recently released a new research study “Virtual retinal display Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends, and competitive landscape to understand the current and future market scenarios.
What are the growth prospects of the Virtual retinal display Industry?
The global virtual retinal display market size reached US$ 14.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach a value of US$ 108.0 Billion by 2028, exhibiting a growth rate (CAGR) of 36.3% during 2023-2028.
What is a Virtual retinal display?
A virtual retinal display (VRD) refers to a head-mounted display device that directly projects visual images onto the retina of the human eye using low-energy lasers. It offers individuals the impression of watching a screen-sized display floating in the air from far away. It provides numerous benefits, such as increased brightness, high contrast, better resolution, and reduced power consumption. As a result, VRD finds extensive applications in the healthcare, engineering, gaming and entertainment, military, aviation and tactical, and sports industries across the globe.
what are the key factors driving in the virtual retinal display market?
The global virtual retinal display market is primarily driven by rising demand for better content connectivity, enhanced user experience, and improved Field of View (FoV) while maintaining high levels of privacy. Moreover, the increasing use of VRD in the healthcare sector with potential applications in surgical procedures and therapeutics is positively influencing the market growth.
Additionally, the surging adoption of virtual and augmented reality in the gaming industry and the rising integration of VRD with gaming smartphones, consoles, and laptops have catalyzed the market growth. Furthermore, the increasing use of VRD in the engineering sector to provide field workers with real-time access to essential information, such as operational protocols and circuit diagrams, is contributing to the market growth. Other factors, including ongoing research and development (R&D) activities, technological advancements, and the rising popularity of lightweight and compact devices, are also anticipated to create a positive market outlook.
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who are the key players/companies in virtual retinal display market?
Avegant Corp., Himax Technologies Inc., Innovega Inc., Magic Leap Inc., Omnivision Technologies Inc., Optinvent, QD Laser and Vuzix Corporation
Report Segmentation:
The report has been segmented the market into following categories:
Breakup by Technology:
· Optics
· Driver and Controller Electronics
· Light Source
· Others
Breakup by Application:
· Aerospace
· Medical
· Gaming and Entertainment
· Sports
· Training and Simulation
· Others
Regional Insights:
· Asia Pacific
· North America
· Europe
· Middle East and Africa
· Latin America
On the geographical front, Asia Pacific enjoys the leading position in the market. This can be attributed to the rising establishment of international companies in the region, on account of low manufacturing costs and cheap labor.
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