DUBLIN, January 6, 2016 /PRNewswire/ --
Research and Markets (http://www.researchandmarkets.com/research/tpvcgn/virtual_retinal) has announced the addition of the "Virtual Retinal Display Market by End-User Industry (Aviation & Tactical, Engineering, Medical, Gaming & Entertainment, Sports, Training & Development, and Others) and Geography - Trends and Forecast to 2016 - 2025" report to their offering.
The virtual retinal display (VRD) technology is expected to commercialize in 2016 and expected to be worth USD 2.30 million in 2016
The VRD market is expected to grow at a CAGR of 45.28% between 2016 and 2025. The growth in the market is expected to be driven by the need for lightweight, portable wearable devices that can provide the required data to users in real-time.
Out of the major end-user industries that would adopt this technology, markets in sports and engineering are expected to grow at a high CAGR, from the year of adoption to 2025. The fast growth of virtual retinal display technology in sports can be attributed to the focus of suppliers on growing interest of users to watch matches with close-ups and detailing; it is also useful for coaches and referees/umpires to make quick decisions in real-time. The growth in the engineering industry will be driven by the need for optimizing resource utilization by providing field staff with essential data related to specific operations such as circuit schematics and operational procedures in real-time.
In terms of geography, APAC, followed by North America are expected to witness high growth of this market between 2016 and 2025. The high growth in APAC can be attributed to the applications of virtual reality and augmented reality across industries such as engineering and medical in the region, while the North American market growth will be driven by the presence of virtual retinal display technology providers in the region and initiatives taken by them to provide feature-rich products to sustain in the increased competitive environment.
Among end-user industries, the application in gaming & entertainment is expected to hold the largest share of the market for virtual reality and augmented reality. In regions, North America is estimated to hold the largest market share of the virtual retinal display technology because of the presence of local providers and value-driven market in gaming & entertainment.
The virtual retinal display market is expected to commercialize in 2016 and grow at a moderate CAGR. This low penetration rate would be the result of certain restraints in usage as current devices once mounted on a user's head cover the eyes; therefore, these would be difficult to use in public places. Also, it could divert the attention of a user in end-user industries such as medical and engineering. However, with gradual acceptance and realization of benefits of wearable electronics in IoT applications, the virtual retinal display technology would find applications in various end-user industries and achieve significant growth by 2020.
Microvision Inc. (U.S.) and Avengant Corp. (U.S.) are expected to be forerunners in commercialization of VRDs. Microvision is jointly working with HIT laboratories (U.S.) i to develop commercial applications and Avegant (U.S.) is set to commercialize its Glyph, a wearable headset with a capability to deliver content in audio and video formats by 2016. The company is using its own website to pre-book orders from across the globe.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 Global Virtual Retinal Display Market, By End-User Industry
8 Global Virtual Retinal Display Market, By Geography
9 Competitive Landscape
10 Company Profiles
- Avegant Corporation
- Google Inc.
- Human Interface Technology Laboratory
- Microvision Inc.
- Texas Instruments
For more information visit http://www.researchandmarkets.com/research/tpvcgn/virtual_retinal
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SOURCE Research and Markets