North America AR Waveguide Market Forecast to 2031 - Regional Analysis - by Type (Geometric Waveguide, Holographic Waveguide, and Diffractive Waveguide) and Application (Consumer Electronics, Industrial, Military, and Others)

List of Tables

The North America AR waveguide market was valued at US$ 202.04 million in 2023 and is expected to reach US$ 343.83 million by 2031; it is estimated to record a CAGR of 6.9% from 2023 to 2031.

Increasing Demand for AR-based Devices Fuels North America AR Waveguide Market

The demand for AR-based devices is rapidly increasing across various industries, including healthcare, automobile, and entertainment, among others. According to Three Kit Inc., a visual commerce firm, it is estimated that the AR market will reach US$ 50 billion by the end of 2024. Advancements in AR content development and software tools have enabled the creation of compelling and interactive AR experiences, driving consumer engagement and brand recognition. Businesses are leveraging AR to deliver immersive product demonstrations, virtual try-on experiences, interactive training modules, and enhanced customer support services, thereby offering consumers an enhanced customer experience. As big tech invests more in augmented reality, AR-based devices are anticipated to become an integrated part of everyday life. In February 2020, Facebook (now Meta) acquired Scape, an augmented reality business that is creating a digital 3D representation of the physical world. Therefore, the growing demand for AR-based devices across various industries fuels the need for advanced waveguide technology, which drives the AR waveguide market.

North America AR Waveguide Market Overview

The North American AR waveguide market is segmented into the US, Canada, and Mexico. Augmented reality (AR) is becoming popular in North America across various sectors, including gaming & entertainment, industrial applications, and healthcare. This demand creates a requirement for key components that enable AR glasses to function, for example, waveguides. Further, North America is home to a few of the world's largest technology giants, such as Google and Facebook, which are actively developing AR products. As a result, these companies are increasingly investing in research and development associated with AR, which fuels the expansion of the AR waveguide market.

Various startups and established players across North America are involved in the development of AR waveguides. For example, in April 2024, Vuzix Corporation launched the Vuzix Shield smart safety glasses. Shield initially launched with a limited fulfillment strategy that was focused on developers and researchers. For example, in May 2023, Dispelix, a waveguide developer for XR, along with Avegant, a renowned developer of miniaturized LED light engines, launched a jointly executed reference display module. This collaboration showcases AR glasses with consumer-ready visual quality in wearables. The design is based on Dispelix Selva-a thin, light, and bright LED waveguide combiner-and Avegant's latest light engine, AG-30L2, which has a significantly lower footprint than the previous-generation engine. The components used in the design are high-performing and can be mass-manufactured. Thus, such initiatives by the players in the region drive the AR waveguide market.

North America AR Waveguide Market Revenue and Forecast to 2031 (US$ Million)

North America AR Waveguide Market Segmentation

The North America AR waveguide market is categorized into type, application, and country.

Based on type, the North America AR waveguide market is segmented into geometric waveguide, holographic waveguide, and diffractive waveguide. The geometric waveguide segment held the largest market share in 2023.

By application, the North America AR waveguide market is segmented into consumer electronics, industrial, military, and others. The consumer electronics segment held the largest market share in 2023.

By country, the North America AR waveguide market is segmented into the US, Canada, and Mexico. The US dominated the North America AR waveguide market share in 2023.

DigiLens Inc, Dispelix, Goertek Inc, Lumus, Optinvent, and WaveOptics Ltd are some of the leading companies operating in the North America AR waveguide market.

Product Code: BMIRE00030822

1. Introduction

1.1 The Insight Partners Research Report Guidance
1.2 Market Segmentation

2. Executive Summary

2.1 Key Insights
2.2 Market Attractiveness

3. Research Methodology

3.1 Secondary Research
3.2 Primary Research
- 3.2.1 Hypothesis formulation:
- 3.2.2 Macro-economic factor analysis:
- 3.2.3 Developing base number:
- 3.2.4 Data Triangulation:
- 3.2.5 Country level data:

4. North America AR Waveguide Market Landscape

4.1 Overview
4.2 PEST Analysis
4.3 Ecosystem Analysis

5. North America AR Waveguide Market - Key Market Dynamics

5.1 Market Drivers
- 5.1.1 Increasing Demand for AR-based Devices
- 5.1.2 Rising Applications of AR Across Various Industries
- 5.1.3 Increasing Demand for AR Wearables
5.2 Market Restraints
- 5.2.1 High Manufacturing Cost
- 5.2.2 Limited Field of View and Associated Challenges
5.3 Market Opportunities
- 5.3.1 Advancements in Optical Waveguide Technology
- 5.3.2 Enhancements in AR Device Design
5.4 Future Trends
- 5.4.1 Growing Demand for AR-based Devices in Gaming Industry
5.5 Impact of Drivers and Restraints:

6. AR Waveguide Market - North America Market Analysis

6.1 AR Waveguide Market Revenue (US$ Million), 2021-2031
6.2 AR Waveguide Market Forecast Analysis

7. North America AR Waveguide Market Analysis - by Type

7.1 Geometric Waveguide
- 7.1.1 Overview
- 7.1.2 Geometric Waveguide: AR Waveguide Market - Revenue and Forecast to 2031 (US$ Million)
7.2 Holographic Waveguide
- 7.2.1 Overview
- 7.2.2 Holographic Waveguide: AR Waveguide Market - Revenue and Forecast to 2031 (US$ Million)
7.3 Diffractive Waveguide
- 7.3.1 Overview
- 7.3.2 Diffractive Waveguide: AR Waveguide Market - Revenue and Forecast to 2031 (US$ Million)

8. North America AR Waveguide Market Analysis - by Application

8.1 Consumer Electronics
- 8.1.1 Overview
- 8.1.2 Consumer Electronics: AR Waveguide Market - Revenue and Forecast to 2031 (US$ Million)
8.2 Industrial
- 8.2.1 Overview
- 8.2.2 Industrial: AR Waveguide Market - Revenue and Forecast to 2031 (US$ Million)
8.3 Military
- 8.3.1 Overview
- 8.3.2 Military: AR Waveguide Market - Revenue and Forecast to 2031 (US$ Million)
8.4 Others
- 8.4.1 Overview
- 8.4.2 Others: AR Waveguide Market - Revenue and Forecast to 2031 (US$ Million)

9. North America AR Waveguide Market - Country Analysis

9.1 North America
- 9.1.1 North America: AR Waveguide Market - Revenue and Forecast Analysis - by Country
  - 9.1.1.1 North America: AR Waveguide Market - Revenue and Forecast Analysis - by Country
  - 9.1.1.2 United States: AR Waveguide Market - Revenue and Forecast to 2031 (US$ Million)
    - 9.1.1.2.1 United States: AR Waveguide Market Breakdown, by Type
    - 9.1.1.2.2 United States: AR Waveguide Market Breakdown, by Application
  - 9.1.1.3 Canada: AR Waveguide Market - Revenue and Forecast to 2031 (US$ Million)
    - 9.1.1.3.1 Canada: AR Waveguide Market Breakdown, by Type
    - 9.1.1.3.2 Canada: AR Waveguide Market Breakdown, by Application
  - 9.1.1.4 Mexico: AR Waveguide Market - Revenue and Forecast to 2031 (US$ Million)
    - 9.1.1.4.1 Mexico: AR Waveguide Market Breakdown, by Type
    - 9.1.1.4.2 Mexico: AR Waveguide Market Breakdown, by Application

10. Competitive Landscape

10.1 Heat Map Analysis by Key Players
10.2 Company Positioning & Concentration

11. Industry Landscape

11.1 Overview
11.2 Market Initiative
11.3 Product Development
11.4 Mergers & Acquisitions

12. Company Profiles

12.1 DigiLens Inc.
- 12.1.1 Key Facts
- 12.1.2 Business Description
- 12.1.3 Products and Services
- 12.1.4 Financial Overview
- 12.1.5 SWOT Analysis
- 12.1.6 Key Developments
12.2 Dispelix
- 12.2.1 Key Facts
- 12.2.2 Business Description
- 12.2.3 Products and Services
- 12.2.4 Financial Overview
- 12.2.5 SWOT Analysis
- 12.2.6 Key Developments
12.3 Goertek Inc
- 12.3.1 Key Facts
- 12.3.2 Business Description
- 12.3.3 Products and Services
- 12.3.4 Financial Overview
- 12.3.5 SWOT Analysis
- 12.3.6 Key Developments
12.4 Lumus
- 12.4.1 Key Facts
- 12.4.2 Business Description
- 12.4.3 Products and Services
- 12.4.4 Financial Overview
- 12.4.5 SWOT Analysis
- 12.4.6 Key Developments
12.5 Optinvent
- 12.5.1 Key Facts
- 12.5.2 Business Description
- 12.5.3 Products and Services
- 12.5.4 Financial Overview
- 12.5.5 SWOT Analysis
- 12.5.6 Key Developments
12.6 WaveOptics, Ltd.
- 12.6.1 Key Facts
- 12.6.2 Business Description
- 12.6.3 Products and Services
- 12.6.4 Financial Overview
- 12.6.5 SWOT Analysis
- 12.6.6 Key Developments

13. Appendix

13.1 Glossary
13.2 About The Insight Partners