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.
Pune, India -- (SBWIRE) -- 01/28/2016 -- According to a new market research report "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", the total market is expected to reach USD 66.60 Million by 2025, at a CAGR of 45.28% between 2016 and 2025.
Browse 41 market data Tables and 40 Figures spread through 114 Pages and in-depth TOC on "Virtual Retinal Display Market".
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The major drivers for the growth of VRD are the need of portable, lightweight viewing devices for ease of use, and growth of virtual reality and augmented reality applications across multiple industries.
Gaming & entertainment industry to drive the growth of the VRD market
VRD technology can find wide applications in a variety of industries such as aviation & tactical, engineering, medical, gaming & entertainment, sports, and training & simulation. The application in the gaming & entertainment industry is expected to hold the largest share of the virtual retinal display market; this is because this industry has been an early adopter of the technology and the demand created for augmented reality and virtual reality applications by users. The market in the sports industry is expected to grow at the highest CAGR between 2019 and 2025 as a result of the clarity and detailing possible in VRDs while watching sports events would help drive the growth of this market.
North America to lead the market in share
The report also covers the VRD market based on different geographic regions- North America, Europe, Asia-Pacific, and Rest of the World (RoW). The VRD market in North America is expected to be the largest during the forecast period because of the high usage of augmented reality and virtual reality in the gaming & entertainment industry in the region. The market in Asia-Pacific for VRD technology is expected to grow at the highest CAGR between 2016 and 2025. Rising disposable incomes, high population density, and demand for technologically advanced products in the gaming & entertainment industry are expected to fuel the growth of the VRD market in APAC.
The major existing and anticipated vendors in the virtual retinal display market include Avengant Corp. (U.S.), Microvision, Inc. (U.S.), Google, Inc. (U.S.), Texas Insturments Inc. (U.S.), Human Interface Technology Laboratory (U.S.).
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The scope of the report covers detailed information regarding the major factors influencing the growth of the virtual retinal display market such as drivers, restraints, challenges and opportunities. A detailed analysis of the existing and aniticipated key players has been done to provide insights into their business overview, products & services, key strategies, new product launches, agreements, and recent developments associated with the virtual retinal display market.
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