Hong Kong – MobiusTrend, the fintech market research organization, recently released a research report “WIMI Uses HMD Patent to Accelerate Scene-Based Applications, and the Global AR and VR Display Market Is Worth $994 Million in 2021”. According to relevant statistics, the global AR and VR display market will reach $994 million in 2021 and is expected to reach $5.102 billion by 2026, with a compound annual growth rate of 38.7%.
During the forecast period, the adoption of AR and VR devices in various applications is on a growing trend. The demand for OLED displays for AR and VR devices continues to grow, and the demand for AR and VR HMD adoption in different industries is also increasing. In particular, the adoption of AR and VR devices in the game industry is a key factor in promoting the development of the industry. In the New York global press report, COVID-19 impact analysis by device type, technology, display technology, application, and geography is conducted on the AR and VR display market, and it forecasts that AR and VR will be the mainstream of the future market in 2026.
In the next five years, AR HMD will be used in a wide range of applications, including consumer, commercial, enterprise, aerospace and defense, automotive, and healthcare fields. The use of AR HMD in enterprise and healthcare applications will become the main factor driving the market growth. Meanwhile, the use of AR HMD in retail will also promote the rapid growth of the market share of commercial AR HMD.
In addition, the high estimated growth of VR HMD in the Asia-Pacific region is due to the increase in the number of local manufacturers and the increase in the adoption of VR HMD in the Asia-Pacific region. Local suppliers have adopted lower prices to promote their products. Although the unit cost of products in the region is lower, the high sales of these products in the region will prompt the Asia-Pacific region to become a major shareholder in the market during the forecast period.
The news report also predicts that consumer applications will occupy the largest share of the VR display market in the future. In 2020, consumer applications occupied the largest scale in the VR display market. The introduction of VR in consumer technology has led to the launch of many innovative products on the market. For example, for VR equipment, the continuous decline in costs of software development and related content development is driving the VR market. The increasing use of VR HMD in games will drive the consumer application market. From 2021 to 2026, the use of VR displays in the Asia-Pacific region is expected to grow in healthcare, commercial, and enterprise vertical markets. Due to the convenience of VR devices in the region, commercial and enterprise vertical markets in the Asia-Pacific region have widely adopted these displays.
The growth of the VR display market in the Asia-Pacific region is driven by countries such as China, Japan, and South Korea. Among manufacturers in the region, the adoption rate of the latest display technology in the Asia-Pacific region is also high. The AR and VR display market clearly shows a strong blue ocean prospect. In addition, virtual reality technology can provide excellent visual effects when used in games and sports broadcasts. Head-mounted displays are very popular for use in games, sports, and entertainment, so the demand for head-mounted displays in consumer applications is very high.
Samsung Electronics (Korea), Sony (Japan), Microsoft HoloLens (US), Google Project Glass (US), AU Optronics (Taiwan), Japan Display, and other major companies, which are optimistic about the dividends in the AR and VR display market, have joined AR market. Among them, Samsung has produced a series of popular HMDs used in various consumer applications such as Gear VR, Oculus Rift, PlayStation VR, and HTC Vive. The holographic glasses of Microsoft HoloLens are a head-mounted augmented reality device, and later the HoloLens holographic imaging helmet is launched. Epson began to enter the AR field in 2012 and has successively launched three AR glasses, BT-100, BT-200, and BT-300. Sony released the developer version of Smart Eyeglass. The Smart Eyeglass of Sony weighs about 77g and has a built-in 300,000-pixel camera and multiple environmental sensors, including an accelerometer, gyroscope, compass, and brightness sensor.
Google Project Glass is an “extended reality” glasses released by Google in April 2012. It has the same functions as a smartphone. It can control taking pictures, video calls, and direction through voice, as well as surfing the Internet, processing text messages and emails, etc.
As the leading provider of holographic AR application technology, WIMI Hologram Cloud, based on its own advantages, has independently developed and invented a patent for the head-mounted display used in the holographic AR system. This patent proposes a head-mounted display for a holographic AR system, which realizes the immersion required by holographic applications, and can send head motion data and external image information to a host computer. It includes a holographic data acquisition and transmission module and a micro-display module. The holographic data acquisition and transmission module includes an image sensor, a gyroscope, an accelerometer, a Bluetooth module, and a processor. The holographic data acquisition and transmission module completes the collection of head movement data and the holographic image information of the real scene. And then, the collected holographic data is transmitted to the micro-display module for further data processing. The micro-display module includes a micro control module as the holographic AR data output of the system.
This patent uses a head-mounted display optical system to digitize the holographic AR image source output by a computer and holographically image it in the user’s field of vision, thereby realizing an analog simulation technology that reproduces a specific environment. The patented immersive head-mounted AR display technology has the advantages of a large field of view, low power consumption, wearable, modular, stereoscopic display, and a high degree of customization. In the future, it will be used in telemedicine, industrial construction, environmental simulation, traffic instructions, virtual education, holographic communication, 3D printing, assisted driving, and many other fields.
It can be said that the head-mounted display patent will further accelerate the upgrading of scene-based applications. In addition to actively deploying in the AR market, WIMI focuses more on computer vision holographic cloud services. Moreover, it mainly concentrates on vehicle-mounted AR holographic HUD, 3D holographic pulse LiDAR, head-mounted light field holographic equipment, holographic semiconductor, holographic cloud software, holographic car navigation, and other professional fields, covering multiple links of AR technology, including holographic vehicle-mounted AR technology, 3D holographic pulse LiDAR technology, holographic vision semiconductor technology, holographic software development, holographic AR advertising technology, holographic AR entertainment technology, holographic ARSDK payment, interactive holographic communication, and so on. It is a holographic cloud comprehensive technical solution provider.
With the advent of the information digitization era, all text information and pictures are digitized. The network connects lots of information, humans can obtain all kinds of knowledge extremely conveniently, and the efficiency of information circulation becomes more efficient. AR and VR will play a vital role in it. The rise of the AR and VR display market is a change in the market, and it is a brand-new opportunity for industrial development. The size of the AR and VR market is large, and the industry continues to develop. At the same time, countries should play a guiding and supporting role in the construction of the virtual reality industry, which is of great significance to enhancing the future influence in the AR and VR technology and industrial fields.
MobiusTrend Group is a leading market research organization in Hong Kong. They have built one of the premier proprietary research platforms on the financial market, emphasizing on emerging growth companies and paradigm-shifting businesses. MobiusTrend team is professional in market research reports, industry insights, and financing trends analysis.
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