The North America Near-Eye Display Market would witness market growth of 24.3% CAGR during the forecast period (2022-2028).
In the coming years, rising automotive manufacturing and advancements such as networked vehicles and driverless vehicles are anticipated to enhance HUD use and demand. HUDs are widely used in both military and commercial airplanes to aid pilots and lessen the risk of collision with the environment. Rising military investment and the increased deployment of HUDs in civil aircraft are expected to help the industry grow.
The increased frequency of car accidents has forced the development and deployment of technology to aid drivers in avoiding dangerous vehicle accidents, fatal mistakes, and casualties. Drivers who are distracted or talking on their phones while driving cause the majority of car accidents. Additionally, using navigational apps on a smartphone or mobile device allowed the motorist to look down or at the screen to see where they were going. This causes a temporary loss of concentration and slows response time, which can be dangerous if another vehicle enters the same lane or if a person or pedestrian jumps off a sidewalk onto the road.
Because of the importance of the United States in car safety, North America is one of the most important regions in the automobile HUD industry. As a result of high safety regulations set by international bodies, the use of safety systems to provide driver assistance is likely to expand, which is expected to help accelerate the market for these systems in the country over the forecast years. With the United States' automobile sector experiencing a progressive shift, there is substantial market penetration and broad use of safety features, especially among passenger cars. These systems have begun to be used in commercial vehicles, like pick-up trucks, to improve driver visibility and prevent nighttime accidents.
Emerging sectors such as augmented reality, virtual reality, and smart wearable devices are driving demand for near-eye displays in the region. As a result of fast-growing businesses such as gaming and entertainment, healthcare, education, and others, the United States is expected to gain traction.
The US market dominated the North America Near-Eye Display Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $1,431.3 million by 2028. The Canada market is poised to grow at a CAGR of 27.1% during (2022 - 2028). Additionally, The Mexico market would display a CAGR of 26% during (2022 - 2028).
Based on Device Type, the market is segmented into VR Devices, AR Devices, and Others. Based on Vertical, the market is segmented into Consumer, Automotive, Aerospace & Defense, Medical, and Others. Based on Technology, the market is segmented into TFT LCD, AMOLED, LCoS, OLEDOS, MicroLED, and DLP & Laser Beam Scanning. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Near-Eye Display Market is Estimated to reach $6.7 Billion by 2028, at a CAGR of 25%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Sony Corporation, Himax Technologies, Inc., Kopin Corporation, eMagin Corporation, BOE Technology Group Co., Ltd., Texas Instruments, Inc., Tianma Microelectronics Co., Ltd., Tianma Microelectronics Co., Ltd., MICROOLED Technologies, and Syndiant, Inc.
By Device Type
By Vertical
By Technology
By Country
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