Inkwood Research anticipates that the Global Extended Reality Display Market is set to project a 20% CAGR during the assessment years 2023-2032.
“Browse 54 market data Tables and 49 Figures spread over 159 Pages, along with an in-depth TOC on the Global Extended Reality Display Market Forecast 2023-2032.”
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Extended Reality (XR) is the collective term used for virtual reality (VR), augmented reality (AR), and mixed reality (MR), as well as all future reality technologies. XR covers the full spectrum of real and virtual environments. Extended reality displays include liquid crystal on silicon microdisplays, liquid crystal displays, organic light-emitting diodes, and digital light projector microdisplays. The market numbers stated in the study indicate the value of displays sold by the vendors across applications such as gaming, education, military & defense, entertainment, retail, healthcare, and automotive & manufacturing. The displays used in the market are designed as either direct-view panels or microdisplay panels.
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Adoption of AR and VR Applications boosts Market Growth
The rapid adoption of AR and VR is transforming the gaming industry and significantly creating more opportunities for the global extended reality display market. Companies are making rapid developments in their products to gain maximum market traction. Gesture-based computing is becoming a part of TVs, designers, medical professionals, advertisers, devices, kiosks, gaming, medical, engineering, and people with physical disabilities. Gesture-based gaming has moved beyond traditional gaming consoles and is witnessing increasing adoption in educational games for children.
Organic Light Emitting Diode (OLED) expected to lead the Display Type Segment
Organic light-emitting diodes or OLEDs are monolithic, solid-state devices comprising a series of organic thin films between two thin-film conductive electrodes. Being emissive displays, OLEDs do not require a backlight and are thinner than LCDs. However, OLED displays tend to be costlier than LCDs.
Apart from the standard OLED, the segment also covers Micro OLED, SiOLED, and AMOLED. OLEDs are the technology of choice for many VR equipment due to their latency, black levels, contrast ratio, and response time advantages. These varied advantages drive the global extended reality display market.
Dominating Region – Asia-Pacific
Asia-Pacific is a major region for the market, with the overall spending on augmented reality and virtual reality AR/VR technologies expected to grow at a very fast pace in the coming years. The penetration of the wireless-first strategy amongst enterprises, industries, and public sector organizations will drive these AR/VR technology investments.
The competition degree depends on factors affecting the market, such as the degree of transparency, powerful competitive strategy, brand identity, and. The market incumbents have been identified to adopt powerful competitive strategies characterized by acquisitions, partnerships, a strong emphasis on research and development, and innovative activities. There are relatively fewer firms in the market studied. Therefore, the firm concentration is low.
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