sample - global virtual retinal display … 2 sample -global virtual retinal display market 2016...
TRANSCRIPT
2016-2020
TECHNAVIO.COM
SAMPLE - GLOBAL VIRTUAL RETINAL DISPLAY MARKET
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SAMPLE - GLOBAL VIRTUAL RETINAL DISPLAY MARKET 2016-2020
AMERICAS
CANADA 36 Toronto Street, #505 Toronto, ON M5C 2C5 [email protected]
UNITED STATES 110 E Schiller Street, #208 Chicago, IL 60126 [email protected]
EUROPE, MIDDLE EAST, AFRICA
UNITED KINGDOM 8 Wimpole Street London W1G 9SP [email protected]
ASIA-PACIFIC
INDIA First Floor, Left Wing Embassy Signet, Cessna Business Park Kadubeesanahalli Bangalore, Karnataka 560 103 [email protected]
CHINA Tianchen Building, Room 1308 12 Chaoyangmenwai Street Chaoyang District, Beijing [email protected]
ALL MEDIA INQUIRIES
Table of contents
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List of exhibits
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2015 MARKET SIZE
$XXX
2016 MARKET GROWTH RATE
XXX%
2020 MARKET SIZE
$XXX
2020 MARKET GROWTH RATE
XXX%
Highlights
Virtual retinal display (VRD) is expected to gain traction in the market. VRDs are
increasingly used in head mounted displays (HMDs). The display is projected
directly into the users' eyes. It has high potential to replace other display
technologies such as liquid crystal display (LCD), light-emitting diode (LED), and
active matrix organic LED (AMOLED) as it consumes less power and has high
clarity.
Virtual reality (VR)-based gaming is gaining high popularity in the market. Hence,
VR device manufacturers such as Oculus, Samsung, and Sony might adopt VRD
instead of display with screens. However, start-ups such as Avegant might find it
difficult to make a noticeable presence in the market as its product Avegant Glyph
is expensive and does not have head-tracking or eye-tracking option.
The military is expected to be the major end-user segment after individual
consumers, as VRD technology is increasingly used in drones.
PART 01: Executive summary
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Market overview
This report covers the present scenario and the growth prospects of the global VRD
market for the period 2016-2020. To calculate the market size, the report considers
revenue generated from shipment of VRD devices for VR and augmented reality (AR)
applications. VRD is a screenless display technology and is currently used only in
HMDs. The report does not consider the revenue generated by the shipment of VR and
AR headsets, which are not based on VRD technology.
Definitions
VRD
VRD, also known as a retinal projector or retinal scan display, is a display technology
that is directly focused onto the retina of the eye. The user can see a conventional
display floating in space.
VR
VR is a 3D, computer generated environment that engages the user in the virtual
world. The user can interact with the virtual objects and can also execute a series of
actions.
AR
AR technology helps in blending the digital content with the physical world. With AR
technology, computer-generated images of the real-world objects are displayed in the
user's field of vision along with relevant information. The user can scan the physical
real-world environment and get an enhanced or augmented experience by adding
virtual computer-generated information.
Base year
Throughout this report, 2015 is considered as the base year. All calculations involving
quantitative data are based on 2015. The values represented in the report are the
actual values for 2015 whereas those for 2016-2020 have been estimated.
Standard currency conversion rates
Throughout the report, the USD is the standard currency unit for all calculations. In
certain sections, other currencies are converted to USD using the annual average
currency conversion rate (January 1 to December 31, 2015).
PART 02: Scope of the report
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Currency conversion rates
Currency 2013 2014 2015
USD/EUR XXX XXX XXX
USD/GBP XXX XXX XXX
USD/CAD XXX XXX XXX
USD/AUD XXX XXX XXX
USD/JPY XXX XXX XXX
USD/CNY XXX XXX XXX
Source: Technavio
Geographical segmentation
Geographical segmentation is determined based on the location of the end-users. The
regions covered are the Americas, Asia-Pacific (APAC), and Europe, the Middle East,
and Africa (EMEA).
Key regions
Americas APAC EMEA
Argentina
Brazil
Canada
Colombia
Mexico
US
Venezuela
Australia
China
India
Indonesia
Iran
Japan
Malaysia
Pakistan
The Philippines
South Korea
Taiwan
Austria
Bahrain
Belgium
The Czech Republic
France
Germany
Hungary
Italy
Kuwait
Oman
Poland
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Americas APAC EMEA
Thailand Portugal
Qatar
Romania
Russia
Saudi Arabia
Slovakia
Slovenia
Serbia
Spain
Sweden
Turkey
UK
Ukraine
Uzbekistan
Source: Technavio
Vendor Segmentation
This report provides list of vendors, who are active in producing VRD based devices
and VRD technology. It includes vendors across all geographical regions and
segments. The vendors are identified based on the revenue and market dominance in
terms of experience, product portfolio, geographical presence, financial condition,
R&D, and customer base.
Top-vendor offerings
Product offerings
Company Products offered
Avegant Avegant Glyph
Source: Technavio
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Research methodology
This Technavio report is based on the synthesis, analysis, and interpretation of
information about the global VRD market collected from specialized sources.
Technavio analysts have derived insights using a mix of primary and secondary
research with an aim to provide a holistic picture of the market.
Economic indicators
Technavio has conducted a detailed study of global economic conditions and other
economic indicators to assess their impact on current global VRD market conditions
and to make informed predictions about future market scenarios.
PART 03: Market research methodology Primary research
• Vendor briefings • Interviews with industry experts
and centers of influence • Telephone and online surveys
Qualitative analysis • Drivers, challenges, and trends • Vendor analysis
Top-down approach
Secondary research
• Proprietary tools and databases • Company reports and publications • Webinars and podcasts • Industry journals and publications
Quantitative analysis • Market size and market share • Statistical models
Bottom-up approach
Microeconomic indicators
Macroeconomic indicators
Mesoeconomic indicators
Data collection and analysis
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Key market highlights
Key customer segments
Individual consumers
Key market challenges
Lack of awareness of VRD
Challenge 2
Challenge 3
Key market drivers
Advantages over other display
technologies
Driver 2
Driver 3
Key market trends
Increase in crowdfunding
Trend 2
Trend 3
VRD, also called as retinal scan display (RSD), is a display technology that uses power
laser beam as a light source, which is projected onto the retina of the user. The VRD
scans the images on the retina of the user to display images in real-time.
The overall display industry can be categorized into two segments:
Display with screen
Screenless display
PART 04: Introduction
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Display with screen
The displays on devices such as kiosks, portable display devices, TVs, monitors,
laptops, and smartphones are one of their most significant components, forming a
platform for user-interface. Display design and technological features enhance user
experience. Rapid advances in technology in the display industry go hand-in-hand with
advances in the electronics industry.
Types of display
Source: Technavio
Cathode ray tube (CRT) display
CRT is a vacuum tube, which helps in displaying image by using one or more electron
guns and a phosphorescent screen. To create images, the electron beams are
accelerated, modulated, and deflected onto the screen. The images may represent
Types of display
Display with screen
CRT
FPD
PDP
VFD
FED
ELD
LED
OLED
AMOLED
PMOLED
LCD
AMLCD
Screenless display
Visual display
Synaptic interface
Retinal direct
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pictures (television and computer monitor), electrical waveforms (oscilloscope), radar
targets, or others.
Flat panel display (FPD)
FPDs are based on electronic viewing technology, which is used to enable people to
see content such as moving images, still images, text, or other visual material in a
range of entertainment, consumer electronics, and many types of transportation,
medical, and industrial equipment. Different types of FPDs are:
Plasma display (PDP)
PDP is a type of FPD consisting of electrically charged ionized gases called plasmas.
They are mainly used in large TV displays (30 inches (76 cm) or more).
Vacuum fluorescent display (VFD)
The principle behind VFD operation is cathodoluminescence, which is similar to that of
a CRT. But VFD operates at much lower voltages. The phosphor-coated anode in each
tube collides with the electrons emitted from the cathode filament. It also has a mesh
control grid in each tube of VFD, because of which it is also called as triode vacuum
tube. VFD is commonly used as a display in consumer-electronics equipment such as
car radios, video cassette recorders, and microwave ovens.
Field emission display (FED)
FED uses large-area field electron emission sources to generate electrons that fall on
the colored phosphor to produce a color image. Generally, FED consists of a matrix of
CRT, with each tube producing a single sub-pixel, grouped in threes to form red-green-
blue (RGB) pixels.
Electroluminescent display (ELD)
ELD is a type of FPD formed by inserting a layer of electroluminescent material such
as gallium arsenide (GaAs) between two layers of conductors.
LED
An LED display uses an array of LEDs as pixels for a video display.
OLED
The emissive electroluminescent layer of organic compound emits a light in response
to an electric current in OLED.
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AMOLED
AMOLED is a display technology that is popular in laptops, smartwatches, and
televisions. A specific type of thin-film display technology with organic compounds form
the electroluminescent material.
Passive-matrix OLED (PMOLED)
PMOLED relates to the way the display is controlled.
LCD
LCD uses the light-modulating properties of liquid crystals. Light is not emitted by the
liquid crystals directly.
Active matrix LCD (AMLCD)
AMLCD has features like low weight, high image quality, wide color gamut, and
response time. As a result, it is considered for high-resolution TVs, computer monitors,
notebooks, tablets, and smartphones with an LCD screen.
The display industry has undergone many transitions over the years in terms of
technology and applications. A wide array of display technologies is now available in
the market, increasing the number of applications used for these displays. The display
technology has advanced from CRT TVs, which are over 100 years old, to OLEDs,
which are currently popular in the market.
Flexible displays
Currently, flexible displays are based on OLED technology because of its emissive
characteristics. It is a dominant technology for flexible displays. Foldable or flexible
OLEDs are made up of substrates that are either plastic or flexible metallic foils.
Flexible OLEDs are light weight and have reduced thickness. Flexible displays can
reduce the breakage and repair issues associated with the electronic devices.
As LCD is a non-emissive technology and cannot operate without backlight, it is not
feasible for developing flexible displays and related products. However, few
enhancements with backlights have taken place, which can help develop LCD-based
flexible displays. But these enhancements are not yet commercialized and thus, the
penetration of LCDs in flexible displays is negligible.
Screenless display
In the field of computer-enhanced technologies, the screenless display is an evolving
technology. It will be one of the greatest technological advances over the years. There
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are many time-to-time patents being introduced by researchers on this technology. The
main aim of the screenless display is to transmit the information without any screen or
projector. Screenless computing systems are categorized into three main groups:
Visual display
Visual image screenless display includes any screenless image that the eye can
observe. Hologram is the most common example for visual image screenless display.
Hologram
In telecommunications, holograms were used as a substitute to screens. Holograms
could either be transmitted directly or stored in various storage devices such as
holodisks. This storage device can be connected with a holoprojector in order to
access the stored image, for example, AR goggles.
In digital holography, a charge-coupled device (CCD) camera is used to record a digital
hologram. The information is transferred to a computer and analyzed. As a result, 3D
images are formed, which are used to examine and evaluate the objects with accuracy.
In general, the CCD camera is used to produce realistic 3D images of 2D objects.
Digital holography is gaining traction in the healthcare and retail sectors. Currently, the
medical, education, and banking sectors are the major revenue generators for the
market. As the brick-and-mortar stores are looking for innovative ways to retain
customers, the digital holographic displays are boosting the retail sector by offering
unique and engaging advertisements.
The automotive, aerospace, and gaming are the potential sectors that will drive the
market in the future. The global digital holography market is expected to grow at a
CAGR of XXX% during the forecast period.
A 3D information or an object is obtained through a digital hologram. Digital holograms
have several advantages when compared to a conventional optical holography:
Strong anti-disturb property
Easy to modify
Difficult to imitate
Can be multiplexed
Can act as anti-counterfeiting identifiers
Easy to create content and cost-effective
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The main advantage of digital holography is that one can view 3D projections in thin air
without the use of 3D glasses. However, there are limitations regarding the picture
quality. Vendors are trying to eliminate such limitations and commercialize this
technology at a large scale. In the near future, digital holography can be used for many
purposes. For instance, a 3D projected person can welcome any customer walking into
a restaurant or a miniature-sized 3D projected avatar can pop up on the dining table
and take the menu ordered. Also, smartphone or tablet users will have their own 3D
holographic avatar that can remind about the meetings, exercises, or any event. with
digitization, digital holography might be integrated with haptics technology and can
revolutionize online marketing. For example, any product from an e-commerce website
can be projected into thin air in 3D by using digital holography, and by haptic
technology the user can touch the product without its actual presence.
The following exhibit represents new opportunities for the vendors to increase
awareness among customers. This can be considered as a unique proposition services
for their B2B customers in the market.
Digital holography opportunities in display industry
Source: Technavio
Digital holography
Works effectively
under sunlight
Optical clarity
High quality
Haptics
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Synaptic interface
In the synaptic interface, no screenless video light is used. Instead, the visual
information is directly transmitted to the brain by bypassing the eye. This system is yet
to be implemented in humans. The technology was implemented in a live horseshoe
crab, wherein the sample video signals were sent through the optic nerves of the crab
to its brain by using electronic cameras through the same method.
Retinal direct
In VRD, the images are directly projected onto the user's retina. It is different from
other visual image systems, as the light is not reflected from some intermediate object
onto the retina. Retinal direct systems give the user extreme privacy in public places,
as these systems pass light only into the retina of the viewer.
Market summary
Global VRD market
2015 2020
By revenue $XXX $XXX
Geographical segmentation
Americas $XXX $XXX
EMEA $XXX $XXX
APAC $XXX $XXX
Source: Technavio
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Market size and forecast
The global VRD market was valued at $XXX in 2015 and is expected to reach $XXX by
2020, growing at a CAGR of XXX% during the forecast period.
Global VRD market 2015-2020 ($)
Source: Technavio
Revenue generation from consumers is difficult to achieve because VRD adds very
little value to the users. The most common applications of VRD are gaming and
infotainment. It can be a useful device for watching movies while traveling or playing
video games by connecting it to Xbox, PlayStation, or PC. Lack of awareness among
the individual consumers will be a major setback to the VRD devices market. It can be
used as a substitute for current VR or AR display technologies; however, currently,
these devices have high penetration and recognition among individual consumers.
Hence, it will be difficult for the VRD devices to replace them in the next five years. In
addition, the current VRD devices are only capable of viewing while VR and AR
devices are capable of functions like head tracking and eye tracking. Incorporating
these functions in the current VRD devices is expected to take time. However, there is
a high possibility that VRD technology integrated into VR and AR devices can help
drive the global VRD market.
Potential applications of VRD where AR and VR devices are popular
The marketing and advertising sector is increasingly adopting AR technology. Print
media and publishing houses have also been using it in the form of quick response
(QR) codes that can be easily accessed by mobile device users. For marketers and
Revenue
PART 05: Market landscape
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advertisers, it is a great opportunity to attract more customers and increase interest in
products. Several brands have shown huge interest in using AR for promotion. In fact,
for most of these brands, AR-based advertising or promotion is mainly done not to
increase revenue, but to create product awareness.
Many industries, including service and maintenance, automotive, and logistics, use AR
technology to increase productivity. For instance, AR apps are used to replace printed
manuals, which can identify objects and give related information. The apps designed
for this sector are relatively expensive, as system integration is a challenging task. For
instance, designing an AR app to check fuel leakage might be easy, but the same app
should be capable of analyzing each and every part of an automobile to give complete
details to a user. Though the number of uses in this sector is currently low, the
potential for revenue generation is high.
The retail is one of the most promising sectors for mobile AR because of increased
interest in developing apps for their customers. Many large brands such as Converse,
IKEA, Maybelline, Nike, and others have rolled out several apps that have interested
their consumers. Future mobile AR apps can enable users to locate their favorite
stores and get an inside view of the location, along with information such as pricing
and stock availability. Retailers are spending heavily on AR apps that can attract
potential customers.
The healthcare sector has huge potential for AR. The sector is growing rapidly and is
increasing its spending on technology, so AR is expected to penetrate this sector.
Several uses have been demonstrated but have not yet commercialized.
The real estate sector has demonstrated the use of AR by providing apps to
consumers. Users can search for properties that are up for sale or rent from any
location, and also view the property through their mobile device. These apps can save
time and money for users.
Note: Information included in this sample are extracts of the full report.
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Advantages over other display technologies
VRD holds major advantages over other display technologies in terms of the following
factors:
Color range
Luminance and viewing modes
Contrast ratio
Power consumption
Color range
The hues produced by CRT and FPD produced is significantly lower than VRDs.
Miniature FPDs and CRTs can reflect only a small portion of the total palette of colors,
which is visible to the human eye.
Luminance and viewing modes
The range of energy incident at the corneal surface is 60 nW to 300 nW. This flexibility
of VRD allows producing images in fluctuating environments with clarity when
compared to conventional electronic displays, which do not transmit light energy in the
ideal range. As a result, conventional displays are preferred in a light-controlled
environments, as they are not clearly visible under bright ambient light conditions such
as outdoors.
Occluded and augmented are the two viewing modes in which VRD is generally used.
The outside environment is not visible in the occluded mode, only images generated by
the VRD are visible. VRD can join an image in the real world, allowing both occluded
and augmented to be seen at the same time in the augmented mode. VRD luminance
can be controlled in the augmented mode, allowing the user to see an image even
under outside ambient light conditions.
Contrast ratio
VRD brightness can be increased to high levels or decreased to minimal levels. This
leads to high contrast ratio, which is far higher than that of panel displays or
conventional CRT monitors.
Power consumption
Light energy is not efficiently converted to electrical energy in conventional displays.
Both CRTs and backlit FPDs utilize extensive power to produce radiant energy. This
leads to low brightness as more power is utilized for input. They use the majority of the
PART 06: Market drivers
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battery power in which they are incorporated. VRD technology carries virtually all of its
generated light onto the retina, leading to brighter display with minimum power
requirements (based on LED).
Note: Information included in this sample are extracts of the full report.
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Impact of drivers
Source: Technavio
PART 07: Impact of drivers
Drivers Impact on key customer Category
Advantages over other display technologies
Individual consumers
3
Driver 2
Individual consumers
3
Driver 3
Individual consumers
4
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Lack of awareness of VRD
The awareness of and knowledge about VRD is limited to a small customer base, as
Avegant Glyph is the only product that has been commercialized yet. VRD will take a
lot of time to gain attention among VR and AR device manufacturers. Also, it is priced
high when compared to other VR devices, which again will hinder its adoption and
popularity. Lack of features such as head tracking and eye tracking in this device will
also affect the penetration. This lack of awareness is preventing potential customers
from adopting products that are integrated with AR. Others are waiting for AR to reach
its maturity stage. Infrastructural issues also hinder the penetration rate.
Note: Information included in this sample are extracts of the full report.
PART 08: Market challenges
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Increase in crowdfunding
By the end of 2015, Avegant gained a funding of $XXX for their virtual retinal display
device through crowdfunding. Hangzhou Liaison Interactive Information Technology, a
Chinese mobile internet company, led the Series B round of funding. This shows that
there is continuous investment taking place in the consumer electronics sector and
thus, the market for VR is maturing. Many US-based consumer electronics companies
earned around $XXX from investors during the first half of 2015.
Successful initial public offering (IPO) start-ups such as Fitbit and GoPro as well as
Google's acquisition of Nest are proving that there is a great scope for smart
technologies in the market. It has now become easy for launching a hardware start-up
due to the presence of crowdfunding sites like Kickstarter and Indiegogo to test
prototypes.
Avegant has decided to use fresh funds to improve the design, for marketing and
accelerating the sales and distribution. Like Oculus Rift, Vuzix's iWear, and Dashbon's
Mask, Avegant makes headphones with an immersive video screen, which acts as a
portable movie theater. The Glyph does not use LED screen to display picture, instead
it utilizes two million small scale mirrors to reflect the picture specifically into the user's
eyes. The headset conforms for vision contrasts among clients and can play any
content from a smartphone or PC.
Magic Leap has not yet disclosed whether its product type is based on AR or VR
technology. It is likely to adopt MicroVision's VRD technology. The company has raised
$XXX through Series C funding. This investment was made by China's Alibaba, along
with existing investors—Google and Qualcomm Ventures. Other new investors in this
round include Warner Bros, Fidelity Investments, J.P. Morgan, Morgan Stanley, T.
Rowe Price, and Wellington Management.
Note: Information included in this sample are extracts of the full report.
PART 09: Market trends
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Competitive scenario
The global VRD market is at a nascent stage. There are not many vendors involved in
the market. MicroVision and Avegant are the only vendors that have gained recognition
in the market. Magic Leap is yet to release its product, and the product is likely to
adopt MicroVision's VRD technology. MicroVision also provides VRD technology to
other vendors. Avegant provides VRD-based devices. As VRD has a large number of
advantages such as high clarity and low power consumption over LCD and other
display technologies, VR and AR vendors might consider VRD instead of LCD or LED
for manufacturing VR and AR devices.
As of 2016, there are many start-ups and large companies planning to invest in the
development of AR technology. There are many emerging vendors in the market but
do not have a dominant position in the market, as the market is in its nascent stage of
development. This could change over the next few years, and some vendors can
establish themselves by taking over small companies.
Well-established technology companies such as Facebook, Google, HP, Intel,
Microsoft, and Qualcomm can become some of the major players in the market in the
future, as they are investing heavily in the development of VR and AR devices.
Facebook has already acquired Oculus Rift, an AR company. In the future, Facebook
users may be able to just point their camera at an individual to view a person’s profile.
Avegant
Avegant is a start-up, which received $XXX through three rounds from 10 investors. Its
last series B funding was of $XXX on August 21, 2015. It started shipping its product at
the end of 2015. In Avegant Glyph, a VRD device, the company used micromirror
arrays to create pixel-free images for applications such as VR and AR experience.
Avegant Glyph can be connected to devices with HDMI out port, which includes
smartphones, tablets, laptops, gaming console, TVs, and even drones. The high
popularity of other VR and AR devices, along with its high cost, will hinder the adoption
of Avegant Glyph.
MicroVision
MicroVision provides PicoP scanning technology, which is a virtual retinal display. It is
one of the first vendors to commercialize VRD-based devices. MicroVision funded HIL
to develop the first VRD-based device.
PART 10: Vendor landscape
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Disclaimer
This document has been prepared on the basis of economic data, actual market news and events, and is only valid on
the date of publication. Infiniti Research Limited does not make any guarantee, representation or warranty, (either
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