AR and VR Display Companies - Samsung Electronics (South Korea) and LG Display (South Korea) are the Key Players
Chicago, March 27, 2024 (GLOBE NEWSWIRE) -- The AR and VR display market size is projected to grow from USD 1.8 billion in 2023 to USD 8.2 billion by 2028; it is expected to grow at a CAGR of 35.6% from 2023 to 2028. The key factors fueling the growth of this market include growing adoption of AR and VR devices in various applications, increasing demand for OLED displays in AR and VR devices, growing adoption of AR and VR HMDs in different industries, adoption of AR and VR devices in gaming industry, and growing popularity of Metaverse.
*The AR and VR display market is dominated by key established players such as *
· Samsung Electronics (South Korea),
· Sony (Japan),
· LG Display (South Korea),
· eMagin Corporation (US),
· Kopin Corporation (US),
· AU Optronics (Taiwan),
· Japan Display (Japan),
· Barco (Belgium),
· BOE Technology (China),
*To know about the assumptions considered for the study download the pdf brochure*
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=180787629
Samsung Electronics is a leading developer and manufacturer of electronics and computer peripherals. The company operates through four business segments, namely, Consumer Electronics (CE), Information Technology & Mobile Communications (IM), Device Solutions (DS), which comprises a semiconductor, Display Panel (DP), and Harman. The Consumer Electronics (CE) segment deals in cable televisions, monitors, printers, air conditioners, refrigerators, washing machines, and medical devices. The Information Technology & Mobile Communications (IM) segment deals in handheld products, communication systems, computers, and digital cameras.
*AR and VR Display Market Dynamics*
*Driver: Increasing demand for OLED displays in AR and VR devices*
OLED is an emerging display technology and has become the mainstream display technology in many markets. OLED displays do not require a backlight; thus, they are thinner and more efficient than LCD displays. OLED displays offer high picture quality, bright colors, infinite contrast, fast response rate, and wide viewing angles, making them ideal for AR and VR applications. OLED microdisplays are gaining momentum due to advanced features such as higher contrast, faster response time, lighter weight, compact size, negligible image smearing, and a wider operating temperature range than LCDs. They have outperformed conventional LCD and LCoS microdisplay technologies as they are widely used in EVFs and HMDs. In the consumer sector, OLED microdisplays are used in video and VR glasses and EVFs to facilitate search, navigation, and daily personal activities, while the defense sector targets AR helmets for pilots to resolve communication issues during the battle.
*Restraint: Development of widescreen alternatives*
Screenless displays are interactive projection technology developed to solve problems related to miniature electronic devices. Devices such as HMDs, HUDs, and AR and VR projectors are small in size; thus, the lack of space on screen-based displays provides an opportunity for the development of screenless displays. The growing advancements in virtual retinal display and holographic display are an imminent threat to AR and VR traditional displays. Projection technology has been evolving for a long time, and its usage has increased in the last decade. Full domes, planetariums, and many other applications utilize projection technology. The increasing adoption of interactive projectors in different verticals and the low cost of interactive projectors, compared with AR and VR devices, are among the factors propelling the growth of the projectors, which hinders the growth of the AR and VR market.
*Opportunity: Surging adoption of AR technology for enterprise applications*
The opportunities in enterprise applications are huge. Huge investments in AR and VR devices from enterprises for smart manufacturing will be a major driver for the growth of the market. Companies having factories at varied locations can use AR and employ a small number of engineers to manage large setups. Remote collaboration using AR technology to manage machines and other setups remotely would help manage enterprises effectively. Other important applications of AR in the enterprise vertical are with regard to the instructional use for technicians and other workers in enterprises. The use of head-up displays and smart helmets to understand blueprints and instructions to provide real-time data will help workers function efficiently.
*Challenge: Developing user-friendly AR/VR systems*
AR/VR technology suppliers and developers face the challenge of developing user-friendly AR/VR devices and tracking systems. A user-friendly virtual environment allows a user to easily navigate and interact with objects in the virtual environment. AR/VR systems are a combination of hardware and software components. AR/VR devices track a user’s movements through different sensors and array them on the virtual display. The development of AR/VR software and virtual content is a challenging task for developers as the virtual content displayed must satisfy the user’s needs.
Samsung Electronics has been focusing on the development of displays for electronic gadgets, such as smartphones, tablets, wearable devices, and headsets. It also provides displays for TVs, laptops, cameras, and audio systems. The company uses newer technologies for developing high-definition, high-quality displays. Currently, the company is focusing on VR applications for its smart TVs. In addition, it provides wearable devices powered by AR and VR. Samsung has been maintaining its leading position in the display market; it has consistently introduced high-resolution, low-power-consuming, low-cost, and high-yield-rate products. With the rapidly growing demand for AR and VR displays, its technological expertise, and quick expansion of production capabilities, the company has captured a majority share of the market. It is focused on developing display solutions for evolving use cases, including AR and VR and flexible devices, and automotive systems.
LG Display, which offers AR and VR displays, is a part of LG Electronics and is listed on the Korea Stock Exchange and New York Stock Exchange. LG Display is now one of the leading manufacturers of TFT-LCD panels, OLED display panels, and flexible displays. It uses technologies such as film-type patterned retarder (FPR), advanced high-performance in-plane switching (AH-IPS), and organic light-emitting diode (OLED) to develop display panels.
LG is a major company that offers a broad portfolio of AR and VR solutions globally. It offers a wide range of display panels for televisions, smartphones, tablets, desktop computers, automobiles, and smart wearables, including AR and VR devices. It is focused on offering cost-competitive display products and maintains stable and long-term relationships with its customers. The company is more focused on the development of automotive OLED display panels for HUDs and HMDs that can be used in autonomous cars. The company invests a significant portion of its revenue in R&D activities, which has helped it maintain a leading position in the AR and VR display market. It has a sound financial condition and has been active in exploring and preparing for new business opportunities.
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