PUBLISHER: The Business Research Company | PRODUCT CODE: 1455446
PUBLISHER: The Business Research Company | PRODUCT CODE: 1455446
Extended Reality Display refers to a display technology that encompasses Virtual Reality (VR), Augmented Reality (AR), and Mixed Reality (MR). It involves the use of immersive displays to seamlessly integrate digital content with the physical world or create entirely virtual environments. Extended Reality Display is employed in gaming and entertainment to deliver immersive and interactive experiences for users.
The primary types of extended reality displays include Liquid Crystal Displays (LCD), Organic Light-Emitting Diodes (OLED), and others. Liquid Crystal Displays (LCD) represent a flat-panel display technology extensively utilized in various electronic devices, including televisions, computer monitors, smartphones, and digital signage. The components associated with extended reality displays encompass hardware, software, and services, providing solutions for both business and consumer engagement. Applications span augmented reality, mixed reality, and virtual reality, catering to diverse end-users such as gaming and entertainment, healthcare, education, military and defense, automotive and manufacturing, retail, among others.
The extended reality displays market research report is one of a series of new reports from The Business Research Company that provides extended reality displays market statistics, including extended reality displays industry global market size, regional shares, competitors with extended reality displays market share, detailed extended reality displays market segments, market trends, and opportunities, and any further data you may need to thrive in the extended reality displays industry. This extended reality displays market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The extended reality display market size has grown exponentially in recent years. It will grow from $1.52 billion in 2023 to $2.04 billion in 2024 at a compound annual growth rate (CAGR) of 34.7%. The growth observed in the historical period can be attributed to research and usability testing, gaming and entertainment, applications in the medical and healthcare sector, utilization in market research and advertising, and advancements in human-computer interaction.
The extended reality display market size is expected to see exponential growth in the next few years. It will grow to $6.81 billion in 2028 at a compound annual growth rate (CAGR) of 35.1%. The anticipated growth in the forecast period can be attributed to the expansion of Virtual Reality (VR) and Augmented Reality (AR) applications, the integration of e-commerce and retail, the utilization of health monitoring wearables, increased adoption in the education sector, and the proliferation of smart devices and Internet of Things (IoT). Key trends expected in the forecast period encompass the application of eye tracking technology in neuromarketing, the rise of wearable eye tracking devices, the integration of eye tracking in automotive design and driver monitoring, advancements in healthcare applications, and the increasing relevance of eye tracking in remote work collaboration.
The anticipated increase in smartphone usage is set to drive the growth of the extended reality display market. Smartphones, advanced mobile devices combining traditional mobile functionality with computing features, incorporate extended reality displays to seamlessly integrate digital information into the real world through augmented reality (AR) and mixed reality (MR). As reported by Uswitch Limited, a UK-based financial conduct authority, in February 2023, the UK witnessed 71.8 million mobile connections in 2022, reflecting a 3.8% increase (approximately 2.6 million) from 2021. The UK population is expected to reach 68.3 million by 2025, with an estimated 95% (around 65 million individuals) owning smartphones. Consequently, the growing usage of smartphones emerges as a pivotal driver propelling the extended reality display market's growth.
Key players in the extended reality display market are strategically prioritizing the development of innovative technologies, exemplified by spatial reality displays, to fortify their market position. Spatial Reality Displays represent advanced display technologies aimed at providing users with a more immersive and interactive experience by seamlessly blending digital content with the physical world in three-dimensional space. In September 2023, Sony Corporation, a Japan-based conglomerate, introduced a cutting-edge Spatial Reality Display featuring a 27-inch 4K resolution screen and a 100% Adobe RGB color gamut. This display offers a glasses-free, VR headset-free 3D experience, showcasing the evolution of immersive visual technologies.
In March 2022, Autodesk, Inc., a US-based software company, successfully acquired The Wild for an undisclosed sum. Through this strategic acquisition, Autodesk aims to enhance support for AEC (Architecture, Engineering, and Construction) clients across the project delivery lifecycle and foster increased demand for augmented reality (AR) and virtual reality (VR) technological advancements within the AEC industry. The Wild, a US-based extended reality (XR) solutions provider, plays a significant role in advancing Autodesk's capabilities in this domain.
Major companies operating in the extended reality display market report are Apple Inc., Alphabet, Samsung Electronics Co. Ltd., Microsoft, Meta Platforms Inc., Dell Technologies Inc., Sony Corporation, HP Development Company L.P., Accenture PLC, Qualcomm Technologies Inc., Koninklijke Philips N.V., Vuzix Corporation, Seiko Epson Corporation, Japan Display Inc., PTC Inc., Niantic Inc., Tata Elxsi Limited, Magic Leap, MAGIC LEAP Inc., HTC Corporation, EON Reality Inc., Talespin Reality Labs Inc., Kopin Corporation, Varjo Technologies Oy, Zappar, SphereGen Technologies LLC, Metaio, Softweb Solutions Inc.
North America was the largest region in the extended reality display market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the extended reality display market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the extended reality display market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The extended reality display market includes revenues earned by entities by providing services such as content creation, 3D modeling, hardware and software integration, consulting and integration, and maintenance and upgrades. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The extended reality display market also consists of sales of head-mounted displays, 2D and 3D AR devices, OLED micro displays, micro-LED, and spatial mapping technologies. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Extended Reality Display Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on extended reality display market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for extended reality display ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The extended reality display market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
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