Virtual Retinal Displays Market Report
Virtual Retinal Displays Market, By Component (Video Electronics, Light Source & Modulator, Scanner, Holographic Optical Element, Other), Application (Engineering, Medical, Communication, Sports, Military, Others), and Region - COVID-19 Impact Analysis and Forecast to 2026
This market research report provides in-depth information on trends, dynamics, revenue opportunities, competitive landscape, and recent developments in the global Virtual Retinal Displays market. The historic years considered for the study are 2016-2019, the base year is 2020, and the forecast period is 2021-2026.
Virtual Retinal Displays Market, By Component (Video Electronics, Light Source & Modulator, Scanner, Holographic Optical Element, Other), Application (Engineering, Medical, Communication, Sports, Military, Others), and Region - COVID-19 Impac...
Covid-19 has impacted the market dynamics, competition, and global supply chain. The revenues have gone down in 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operation and strategy will sustain and beat the competition.
Note: The summary below might not have included insights on covid impact since we have large number of reports.
The Virtual Retinal Displays market is projected to grow from USD 7.6 million in 2020 to USD 66.5 million by 2026 at a CAGR of around 44.6% during the forecast period.
Virtual retinal display also known as retinal scan display is defined as display technology that draws a raster display directly onto the retina of the eye. The virtual retinal display comprises various components including video electronics, light source & modulator, scanner, holographic optical element, and others.
Key players operating in the Virtual Retinal Displays market are-
The growth of the virtual retinal displays market is primarily driven by increasing product demand in numerous applications including sports, engineering, and entertainment among others. The rising adoption of advanced technologies such as virtual reality and augmented reality in the gaming and entertainment industry is likely to drive the growth of the virtual retinal displays market at a significant rate during the review period. In addition to this, growing emphasis on new product development and increasing investment in R&D activities is likely to create lucrative opportunities for the players operating in the global market in the coming years.
By application, the virtual retinal displays market has been bifurcated into engineering, medical, communication, sports, military, and others. Under these, the sports segment accounted for the largest market share in 2020 and is projected to register significant growth during the review period. The medical segment is projected to grow at a significant CAGR on account of increasing product adoption in the medical industry.
By region, the market in North America accounted for the largest market share in 2020 and is projected to grow at a significant CAGR during the assessment period. The regional growth can be attributed to the high adoption rate of advanced technologies in the end-use industries coupled with the presence of key market players such as Texas Instruments (US) and Google LLC (US). The market growth in the Asia-Pacific region is expected to be driven by increasing awareness about the benefits of the product.
The covid-19 outbreak posed significant challenges on the industrial sector across geographies. It impacted the growth of the virtual retinal displays market negatively for a short period as the imposition of complete lockdown and restrictions on trade affected the product supply and demand for a short period.
Here is the list of the group of customers that the virtual retinal displays market hopes to have the greatest opportunity to convert-
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The virtual retinal displays market size is expected to reach USD 66.5 million in the coming years.
Texas Instruments (US), Human Interface Technology Laboratory (India), Microvision Inc (US), Google LLC (US), Avegant Corporation (US), Oculus VR (US), eMagin Corporation (US), Vuzix (US), Rockwell Collins (US), Sony Group Corporation (Japan), Konica Minolta, Inc. (Japan), HTC Corporation (Taiwan), Brother Industries, Ltd. (Japan), Lumus (Israel), Daqri LLC (US) and Oculon Optoelectronics, Inc. (Taiwan) are among the key players in the virtual retinal displays market.
The virtual retinal displays market is expected to witness an impressive growth of 44.6% CAGR in the virtual retinal displays market.
The sports segment is expected to register significant growth in the virtual retinal displays market in the coming years.
North America accounted for the largest share in the virtual retinal displays market in 2020.
Virtual retinal displays distributors, Virtual retinal displays suppliers, Virtual retinal displays manufacturers, Logistics organizations, Government bodies are the target audience in the virtual retinal displays market.