Market Size of Virtual Retinal Display Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 42.60 % |
| Fastest Growing Market | North America |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Virtual Retinal Display Market Analysis
The Virtual Retinal Display Market is expected to register a CAGR of 42.6% during the forecast period. In the screenless display market, direct retinal technology is estimated to be the fastest growing, compared to the visual image and Synaptic Interface technology. Virtual Retinal Display (VRD) was developed to solve the limitations of image quality, weight, and cost problems associated with head-mounted display technology. Providing a wider field of view, this technology also addresses the technical limitations that Mixed Reality technology faces.
- The retina display is highly secure and safe compared to other displays. Using a retina display, the user can control the intensity of the display through his voice. The adoption of this technology is making people easy to work in any environment without any security or privacy issues.
- As the technology addresses the high eye strain caused by night vision goggles, the technology finds applications in the aerospace and defense sector. The applications are widespread in the healthcare sector and range from treating trauma to being used as an aid in cancer detection.
- The virtual retinal display is highly efficient concerning power consumption, requiring far less power than the postage-stamp LCD screens used commonly in today's mobile devices. The gaming & entertainment industry application is driving the demand for the virtual retinal display market because this industry has been an early adopter of the technology and the demand created for augmented reality and virtual reality applications by users.
- On the other hand, the need for more awareness about the virtual retinal display is expected to hamper the market's growth. The major problem with virtual retinal displays is they can cause motion sickness. These restraining factors are said to decline the market's growth.
- The COVID-19 pandemic is influencing society and the global economy. The closure of manufacturing facilities globally has resulted in a significant loss of revenue and business for the nations under lockdown. The pandemic has had a significant negative impact on the production and manufacturing processes. However, to fight COVID-19, companies have been actively investing in product development.
