Americas Will Continue to Dominate the Global Virtual Retinal Display Market Through 2020: Technavio

LONDON–([1])–The global
virtual retinal display (VRD) market
[2] is expected to grow
at a CAGR of 3.51% during the forecast period, according to Technavio’s
latest report.

In this report, Technavio[3]
covers the market outlook and growth prospects of the global VRD[4]
market for 2016-2020. To calculate the market size, the report
considers revenue generated from shipment of VRD devices for VR
and augmented
reality (AR)
[5] applications.

Technavio’s research study segments the global VRD market into the
following regions:

Global VRD market: segmentation by geography 2016

Geography       Market share (%)
Americas     91.7%
EMEA     5.2%
APAC     3.1%
   

Source: Technavio

 

Americas: largest VRD market

The Americas accounted for almost 92% of the global VRD market in 2016,
followed by EMEA. The US is the leading country in the region, followed
by Canada. The US is expected to continue to be a leading technology
provider due to the presence of companies such as Avegant, Magic Leap,
and MicroVision. As the technology is new, these companies will try to
capture the American market first, then later try to penetrate the other
regions. So, for the next five years, the Americas will be the dominant
region for VRD devices. There are several projects related to smart
glasses
and HMDs lined up, and there is a huge demand for AR
technology in the US.

Sunil Kumar Singh, a lead analyst at Technavio for displays[6]
research asserts, “The Americas is also one of the earliest
adopters of AR, and there are a number of apps being developed for iOS
and Android. This gives good potential for VRD technology providers such
as
MicroVision to penetrate the Americas.”

Request a sample report: http://www.technavio.com/request-a-sample?report=54537[7]

Technavio’s sample reports are free of charge and contain multiple
sections of the report including the market size and forecast, drivers,
challenges, trends, and more.

Global VRD market in EMEA

MEA is not expected to have much of an impact for VRD devices and
technology, as many big players in the market such as Blippar, Metaio,
and Wikitude are located in Europe. The UK is one of the key leading
countries in the region and globally. In addition, there are several
companies in Israel involved in the defense, military, and aerospace
sectors where VRD can be effectively used. Also, several
government-funded projects in these sectors are encouraging new vendors
in Israel to enter the market. “Some of the other leading
countries in Europe include Germany, France, Switzerland, and Austria.
BMW,
Volkswagen, and many publishing companies have employed AR
technology and created huge interest among consumers. This might also
help in the adoption of VRD technology
,” adds Sunil.

Global VRD market in APAC

APAC accounted for only 3% of the global VRD market in 2015. This is
because, there are only a few companies involved in AR technology in
this region, with the highest number being located in Japan. The revenue
contribution from APAC is not expected to show any major changes during
the forecast period, except for the outsourcing of software development
to India. The final products are sold in EMEA or the Americas. However,
APAC is expected to lead the market in terms of mass production of AR
devices like mobile devices, HMDs, or smart glasses during the forecast
period.

Competitive market scenario

The global VRD market is at a nascent stage. There are not many vendors
involved in the market but so far MicroVision and Avegant
are the only vendors that have gained recognition in the market. Magic
Leap
is yet to release its product, and the product is likely to
adopt MicroVision’s VRD technology. MicroVision also provides VRD
technology
to other vendors. Avegant provides VRD-based devices. As
VRD has a large number of advantages such as high clarity and low power
consumption over LCD and other display technologies, VR and AR vendors
might consider VRD instead of LCD or LED for manufacturing VR and AR
devices.

Browse Related Reports:

Do you need a report on a market in a specific geographical cluster
or country but can’t find what you’re looking for? Don’t worry,
Technavio also takes client requests. Please contact
enquiry@technavio.com[8]
with your requirements and our analysts will be happy to create a
customized report just for you.

About Technavio

Technavio[9]
is a leading global technology research and advisory company. The
company develops over 2000 pieces of research every year, covering more
than 500 technologies across 80 countries. Technavio has about 300
analysts globally who specialize in customized consulting and business
research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research
techniques to ascertain the size and vendor landscape in a range of
markets. Analysts obtain information using a combination of bottom-up
and top-down approaches, besides using in-house market modeling tools
and proprietary databases. They corroborate this data with the data
obtained from various market participants and stakeholders across the
value chain, including vendors, service providers, distributors,
re-sellers, and end-users.

If you are interested in more information, please contact our media team
at media@technavio.com[10].

References

  1. ^ (www.businesswire.com)
  2. ^ global virtual retinal display (VRD) market (www.technavio.com)
  3. ^ Technavio (www.technavio.com)
  4. ^ VRD (www.technavio.com)
  5. ^ augmented reality (AR) (www.technavio.com)
  6. ^ displays (www.technavio.com)
  7. ^ http://www.technavio.com/request-a-sample?report=54537 (www.technavio.com)
  8. ^ enquiry@technavio.com (www.businesswire.com)
  9. ^ Technavio (www.technavio.com)
  10. ^ media@technavio.com (www.businesswire.com)

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