The global AR and VR display market size was valued at USD 994 million in 2021 and is projected to reach USD 5,102 million by 2026. It is expected to grow at a CAGR of 38.7% during the forecast period. 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, and adoption of AR and VR devices in gaming industry are the key driving factors for the AR and VR display market.
The AR and VR display market comprises major 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), and Syndiant (US). These top players have strong portfolios of OLED products and presence in both mature and emerging markets.
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Samsung Electronics is a leading developer and manufacturer of electronics and computer peripherals. The company operates through 3 business segments, namely, Consumer Electronics (CE), Information Technology & Mobile Communications (IM), and 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. The Device Solutions business division deals in memory systems, large-scale integrated circuits, and light-emitting diodes. The Display Panel division designs and manufactures LED-LCD, QD-LCD, and OLED display panels. The Consumer Electronics (CE) and IT & Mobile Communications (IM) divisions fall under Samsung Research, which is the advanced research and development (R&D) hub of Samsung Electronics. The hub leads the development of future technologies, with more than 10,000 researchers and developers working in overseas R&D centers.
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 that 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. The company manufactures display panels for televisions, desktop monitors, notebook computers, tablet computers, mobiles, AR and VR devices, and other applications (industrial, entertainment systems, automobiles, portable navigation devices, medical diagnostic equipment, etc.). It undertakes continuous research and development and investments in next-generation displays such as flexible and transparent displays.
LG is 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.
AR and VR Display Market with COVID-19 Impact Analysis by Device Type (AR HMDs, VR HMDs, AR HUDs, VR Projectors), Technology (AR, VR), Display Technology (LCD, OLED, Micro-LED, DLP, LCoS), Application, and Geography - Global Forecast to 2026
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