Report : Europe AR Waveguide Market Forecast to 2031 - Regional Analysis - by Type (Geometric Waveguide, Holographic Waveguide, and Diffractive Waveguide) and Application (Consumer Electronics, Industrial, Military, and Others)
At 7.9% CAGR, Europe AR Waveguide Market is Projected to be Worth US$ 248.47 Million by 2031, says Business Market Insights
According to Business Market Insights' research, the Europe AR waveguide market was valued at US$ 135.58 million in 2023 and is anticipated to reach US$ 248.47 million by 2031, registering a CAGR of 7.9% from 2023 to 2031. Advancements in optical waveguide technology and growing demand for AR-based devices in gaming industry are among the critical factors attributed to drive the Europe AR waveguide market growth.
A few advancements in optical waveguide technology include diffractive waveguides and holographic waveguides. These technologies play a critical role in the deployment of AR devices across various sectors, including automotive, healthcare, aerospace & defense, education, and retail. Diffractive waveguides are considered the most utilized AR combiner technology and are used in popular devices such as Microsoft HoloLens, Magic Leap One, and Vuzix M4000. These waveguides use a diffractive optical element (DOE) to inject light into the waveguide, distribute it to a large exit pupil, and extract it to the eye. They offer ergonomic design and high-quality projected images, contributing to the immersive AR experience. For instance, in June 2023, Apple announced the Vision Pro, an augmented reality (AR) headset, at its annual Worldwide Developers Conference (WWDC). The headset features a high-resolution display with more than 23 million pixels, surpassing the quality of a 4K TV. It is powered by Apple's M2 chip, which is also found in their MacBook laptops, and a new chip called R1, specifically designed for the headset. The R1 chip processes the vast amount of data involved, including input from 12 cameras and sensors that face forwards, downwards, and inwards towards the user's eyes. This design aims to reduce lag and minimize motion sickness. The Vision Pro can be used all day when plugged in, but the battery life is limited to two hours when used wirelessly.
Holographic waveguides, on the other hand, use holographic elements to diffract light within the waveguide. Holographic waveguides can provide wider fields of view and have the potential to reduce power consumption compared to diffractive waveguides. Companies such as Lumus are employing reflective waveguide technology that offers greater efficiency, uniform brightness, and color over a wider field of view, which can help prolong the battery life of AR glasses. For instance, in January 2023, Lumus, the developer of reflective waveguide technology for augmented reality (AR) eyewear, announced the launch of its 2nd generation Z-Lens 2D waveguide architecture. This new technology builds upon the 2D Maximus waveguide architecture and addresses key obstacles in the development of consumer AR glasses. The Z-Lens 2D waveguide architecture enables the creation of smaller, lighter AR eyeglasses with high-resolution image quality, outdoor-compatible brightness, and seamless integration with prescription lenses. The technology will be publicly demonstrated for the first time at CES 2023. These technologies are opening possibilities for broader application and attracting a global clientele in various industries. Thus, advancements in optical waveguide technology are anticipated to provide lucrative opportunities for the AR waveguide market growth during the forecast period.
On the contrary, high manufacturing cost hampers the growth of Europe AR waveguide market.
Based on type, the Europe AR waveguide market is bifurcated into geometric waveguide, holographic waveguide, and diffractive waveguide. The geometric waveguide segment held 46.7% market share in 2023, amassing US$ 63.26 million. It is projected to garner US$ 108.67 million by 2031 to register 7.0% CAGR during 2023-2031.
In terms of application, the Europe AR waveguide market is divided into consumer electronics, industrial, military, and others. The consumer electronics segment held 48.7% share of Europe AR waveguide market in 2023, amassing US$ 66.09 million. It is projected to garner US$ 128.85 million by 2031 to expand at 8.7% CAGR from 2023 to 2031.
Based on country, the Europe AR waveguide market is categorized into Germany, the UK, France, Italy, Russia, and the Rest of Europe. Our regional analysis states that Germany captured 29.4% share of Europe AR waveguide market in 2023. It was assessed at US$ 39.84 million in 2023 and is likely to hit US$ 81.88 million by 2031, registering a CAGR of 9.4% during 2023-2031.
Key players operating in the Europe AR waveguide market are Dispelix, Goertek Inc, Lumus, NIL Technology, Optinvent, and WaveOptics Ltd, among others.
- In August 2021, WaveOptics, the pioneering designer of diffractive waveguides for Augmented Reality (AR) wearables, announced a strategic supplier relationship with Jade Bird Display (JBD) for MicroLED microdisplays.
- In May 2023, NIL Technology launched NTLight Projector & Illuminator Solutions, our state-of-the-art technology for projection and illumination needs. NTLight is diffusers, custom-built dot-projectors, and integrated multiple-functionality optics.
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