Top Tech Trends in the Extended Reality Display Market

Extended Reality Display Market – Inkwood Research

Extended reality (XR) is an emerging term for various immersive technologies like mixed reality (MR), augmented reality (AR), virtual reality (VR), and other technologies that are to emerge in the future. Governments are also eying applications for immersive technologies globally as the XR devices are being used as simulated weapons to train army, recruits and the next generation of bio-hazard diagnosticians and controllers, among other applications. Inkwood Research predicts that the global extended reality display market will propel with a 35.20% CAGR during the forecasted years 2023-2032.

5G Connectivity augments XR Market Growth

As a result of 5G launches by mobile operators, the comeback of smartphone-tethered VR headsets in 2021 & 2022 expanded the demand for XR displays. Besides, in the coming years, the proliferation of 5G, interactive AI, real-time rendering, and the popularity of immersive experiences are anticipated to upgrade the theatrical experience and positively stimulate the growth of the global XR display market.

For instance, in November 2021, Immersivecast announced the XR Metaverse Workspace, a service environment supporting multi-dimensional Web 3.0 with integrated AR, NFT, and VR that simplifies content development. On an initial 5G network trial, the offering was revealed with Ericsson, Samsung, and Deutsche Telekom at MWC 2021 and encouraged the company to expand its market presence in South Korea and the United States. Thus, such developments are expected to boost the demand for the displays studied in the market.

Micro-LED, AR, and VR Technologies: Redefining User Experience

Virtual reality (VR) and augmented reality (AR) technologies have redefined how users interact with electronics and gadgets by embracing an immersive experience and promoting interaction between the user and the device. Such trends augment the demand for advanced display technologies, amongst other technologies.

Micro-LED is an advanced display technology that ensures high brightness and contrasts while low power consumption. These features are particularly relevant for virtual reality (VR) and augmented reality (AR) applications to deliver the best visual experience. The increased number of applications encourages several companies to collaborate, develop, and integrate advanced technologies in their devices and enhance the user’s experience.

Some of the recent developments by leading market players include:

  • In September 2021, Xiaomi introduced a pair of smart glasses called Xiaomi Smart Glasses, equipped with a monochrome micro-LED system that provides higher pixel density and a longer lifespan while having a simpler structure than OLED. According to Xiaomi, micro-LED allows for a more compact display and easier screen integration.
  • In October 2021, the Chinese electronics company, TCL, unveiled its brand-new Thunderbird Smart Glasses Pioneer Edition, equipped with a full-color transparent micro-LED display. These advanced glasses also have an inbuilt camera allowing users to take pictures with a click on the side of the frame. The glasses may also have augmented reality support, with which they can add layers of digital information to the user’s vision through the glasses.
  • Furthermore, companies operating in the micro-LED landscape are receiving significant funding. For instance, in March 2021, Belgium-based micro-LED micro-display developer MICLEDI announced that it had raised EUR 7 million from FPIM and KBC Focus Fund. The funds are poised to enable the company to transition from pilot line technology development to product design and gradually to manufacturing, thus driving the growth of the market studied.

Extended Reality Display Market Future: Merging XR & AI

The merge of XR and artificial intelligence (AI) contributes to a powerful gaming experience for designing the right user interface. Integrating AI in the XR landscape allows the developers to make interacting with an environment feel more natural and organic. In line with emerging technologies, companies have invested in the global extended reality display market to provide their customers with enhanced and real experiences.

Similarly, as gamers search for more ways to feel connected to the experiences in the console world, new technologies such as Haptic Feedback have emerged in the market. Haptic feedback is an experience when people can feel sense the vibrations of something moving in the distance or zombies jumping at them in a shooting game. This new level of immersion is expected to make every gaming and entertainment experience more memorable and enchanting. Such initiatives by gaming companies are expected to increase the demand for extended reality displays in the market.

By Sukanya Mukherjee

FAQs:

What are the major growth drivers of the global extended reality display market?

Surging adoption of VR and AR applications across multiple end-user industries and significant technological advancement across micro-displays, such as micro-LEDs, are some major growth drivers of the global extended reality display market.

Who are some of the leading companies in the global extended reality display market?

SA Photonics Inc, BOE Technology Group Co Ltd, Realfiction Holding AB, and Samsung Electronics Co Ltd are some of the leading companies in the global extended reality display market.