Virtual Retinal Display Market Size Incredible Possibilities, Growth With Industry Study, Detailed Analysis and Forecast 2022-2031

AMARILLO, TX , United States, Fri, 24 Jun 2022 04:44:40 / Comserve Inc. / -- Virtual Retinal Display Market With Top Countries Data, Industry Analysis , Size, Share, Revenue, Prominent Players, Developing Technologies, Tendencies and Forecast

Market Overview

The Virtual Retinal Display market was valued at USD 5.3 million in 2019 and is expected to reach USD 33.12 million by 2025, at a CAGR of 42.62% over the forecast period In the screenless display market, the retinal direct technology is estimated to be the fastest growing, compared to the visual image and Synaptic Interface technology. Virtual Retinal Display (VRD) was developed to solve the limitations of image quality, weight, and cost problems associated with head-mounted display technology. Providing wider field-of-view, this technology also addresses the technical limitation that Mixed Reality technology is facing.

- Compared to other types of displays, the retina display is highly secure and safe. By using a retina display, the user can control the intensity of display through his voice. Adoption of this technology is making people easy to work in any environment without any security or privacy issues.
- As the technology addresses the high eye strain caused by using night vision goggles, the technology finds applications in the aerospace and defense sector. The applications are widespread in the healthcare sector as well and range from treating trauma to be used as an aid in cancer detection.
- Avegant, Magic Leap and Microvision are the only vendors to commercialize the technology as of now. These vendors released VRD devices targeting the enterprises and consumers as well. QD Laser (the subsidiary of Fujitsu) is also looking to launch its VRD product into the market.

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Scope of the Report

Virtual retinal display systems are a type of screenless displays, in which images are projected directly onto the retina. The differentiating factor between retina direct and visual image systems is that the light is not reflected from some intermediate object onto the retina. It projects light on the eye and mimics the natural vision.

Key Market Trends

Virtual Reality and Augmented Reality are Gaining Surging Demand from the Entertainment Industry

- Virtual reality and augmented reality are gaining increasing demand from the entertainment industry. The augmented reality technology is being mainly used in games and animations onto the real world, using new retinal display systems.
- In the entertainment industry, eyewear glasses are used in 3D cinemas. However, in the recent days, these are being replaced with smart glasses, for improved cinema experience for audience. Smart glasses are also being used for a virtual reality cinema experience.
- Avegant and Magic Leap have entered the market through this segment, due to high demand and purchasing propensity. Today's tech-savvy generation demands the most innovative gaming and media solutions, along with the most immersive experiences. As a result, terms, such as 'personal theatre' have been coined by companies, to commercialize various solutions.
- On the other hand, augmented reality games could reach a broader audience than the people who play games today, because they can be played outside and based on interaction with other people, in addition to augmented virtual objects.
- Virtual reality environments allow common people to engage with exhibits, concerts, museum, gallery, etc., in ways that were previously unknown and forbidden. It allows the person to view 3D images and these images appear life sized to the person, such that entertainment becomes realistic and enjoyable.

North American Segment Dominates the Virtual Retinal Display Market

- The United States is one of the early adopters of virtual retinal display technology, because of which, the North American segment dominates the market studied. In addition, the rapid demand for augmented reality and virtual reality in the region is expected to drive the segment's growth, over the forecast period.
- Notably, owing to the exceptional benefits from virtual retinal display, such as light weight, larger angle of view, higher resolution, and sufficient contrast and brightness ratio, a few startups are raising funds, to boost the R&D and commercialization of the product.
- For instance, in August 2018, a Florida-based startup, Magic Leap, raised USD 2.3 billion. This funding is expected to bolster the R&D of virtual retinal display products, thus bolstering the growth of the regional market, and also compelling other companies to invest and garner larger shares, in the nascent market.
- Additionally, in August 2018, Avegant, an AR display company, announced funding of USD 12 million, which is likely to have a positive impact on the North American segment, over the forecast period.
- Virtual retinal display is a next-gen technology for virtual and augmented reality, the companies operating in VR and AR have an immense opportunity to penetrate in the market, with early launches. However, the high price of the products may restrain the segment's growth.

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Competitive Landscape

The Virtual Retinal Display Market is highly competitive and consists of several major players. In terms of market share, few of the major players currently dominate the market. These companies are leveraging on strategic collaborative initiatives to increase their market share and increase their profitability. The presence of long-standing vendors is expected to increase the level of competitive rivalry during the forecast period.

- February 2019 - The product "RETISSA Display" of QD Laser, Inc. was selected as the winner at 2019 SPIE Photonics West 's Vision Technology department of PRISM AWARDS. Prism Award is an authoritative award of Photonics West which is an exhibition of industrial equipment, and selection to the winner is proof that QD laser products have been highly regarded within the industry.

1 INTRODUCTION

2 RESEARCH METHODOLOGY
2.1 Research Phases
2.2 Analysis Methodology

3 EXECUTIVE SUMMARY

4 MARKET ANALYSIS

5 MARKET DYNAMICS
5.1 Market Overview
5.2 Introduction to Market Drivers and Restraints
5.3 Market Drivers
5.3.1 Technical Advantages Over Screen-Based Devices
5.4 Market Restraints
5.4.1 High Costs and Lack of Awareness
5.5 Industry Attractiveness - Porter's Five Force Analysis
5.5.1 Threat of New Entrants
5.5.2 Bargaining Power of Buyers/Consumers
5.5.3 Bargaining Power of Suppliers
5.5.4 Threat of Substitute Products
5.5.5 Intensity of Competitive Rivalry
5.6 Product Life Cycle Analysis
5.7 Customer Acceptance / Adaptability

6 MARKET SEGMENTATION

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The dynamic nature of business environment in the current global economy is raising the need amongst business professionals to update themselves with current situations in the market. To cater such needs, Shibuya Data Count provides market research reports to various business professionals across different industry verticals, such as healthcare & pharmaceutical, IT & telecom, chemicals and advanced materials, consumer goods & food, energy & power, manufacturing & construction, industrial automation & equipment and agriculture & allied activities amongst others.

The dynamic nature of business environment in the current global economy is raising the need amongst business professionals to update themselves with current situations in the market. To cater such needs, Shibuya Data Count provides market research reports to various business professionals across different industry verticals, such as healthcare & pharmaceutical, IT & telecom, chemicals and advanced materials, consumer goods & food, energy & power, manufacturing & construction, industrial automation & equipment and agriculture & allied activities amongst others.

For more information, please contact:

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