Asia Pacific AR Waveguide Market Forecast to 2031
Asia Pacific 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)
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Description
Enhancements in AR Device Design Boost Asia Pacific AR Waveguide Market
With the increasing adoption of AR technology in sectors such as industrial and media & entertainment, there is an increased need for advanced display technologies that offer superior performance and address the limitations of current solutions. The integration of volume holographic optical waveguides helps enhance the performance and design of AR devices, catering to the increasing consumer preference for AR wearable and portable solutions. This fosters innovation in AR device design. Volume holographic optical waveguides offer several advantages in AR device design. They enable the development of lightweight and compact AR devices without compromising on optical performance. This allows for comfortable and enhanced immersive user experiences. The use of holographic elements in waveguides also provides wider fields of view, which is a crucial factor in creating a more realistic and engaging AR experience. Thus, enhancements in AR device design are anticipated to create numerous opportunities for the AR waveguide market growth during the forecast period.
Asia Pacific AR Waveguide Market Overview
The Asia Pacific AR waveguide market is segmented into Australia, India, China, Japan, South Korea, and the Rest of Asia Pacific. AR optical waveguide modules are in high demand due to the growing implementation of AR technology in the healthcare, automotive, and aerospace industries. There is a rise in expenditures on AR technology and a surge in demand for sophisticated display solutions in India, South Korea, and Japan. Countries, including Japan, South Korea, and China, are widely incorporating AR waveguide technology into their military operations, as it helps improve situational awareness, precision, and real-time tactical intelligence for soldiers. Further, various startups in China are involved in the development of underwater AR goggles. For example, in January 2022, Guangli Technology, a Chinese augmented reality business, raised more than US$ 157 million in a Series A round. The funds will be used to expand the consumer AR smart glasses market, develop light field and holography technologies, and increase production capacity. The corporation plans to accelerate the introduction of next-generation items to boost its business.
Moreover, players across the region are collaborating to increase the manufacturing of AR waveguides. For example, in January 2024, DigiLens Inc. collaborated with India’s Kaynes Technology India Limited to scale waveguide manufacturing. Kaynes Technology, a provider of electronic component manufacturing for the space research, defense, aerospace, railway, healthcare, automotive, and other commercial sectors, is strategically positioned as a DigiLens licensee to scale waveguide manufacturing to aid in the delivery of DigiLens’ flagship Augmented Reality (AR) device-the DigiLens ARGO-in India. Kaynes Technology and DigiLens will work together at Kaynes Semicon Pvt Ltd, a 100% subsidiary of Kaynes Technology, in their Green Field plant in Hyderabad. Such instances in the region drive then growth of the AR waveguide market.
Asia Pacific AR Waveguide Market Revenue and Forecast to 2031 (US$ Million)
Asia Pacific AR Waveguide Market Segmentation
The Asia Pacific AR waveguide market is categorized into type, application, and country.
Based on type, the Asia Pacific AR waveguide market is segmented into geometric waveguide, holographic waveguide, and diffractive waveguide. The geometric waveguide segment held the largest market share in 2023.
By application, the Asia Pacific AR waveguide market is segmented into consumer electronics, industrial, military, and others. The consumer electronics segment held the largest market share in 2023.
By country, the Asia Pacific AR waveguide market is segmented into China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific. China dominated the Asia Pacific AR waveguide market share in 2023.
Zhejiang Crystal-Optech Co Ltd, Dispelix, Goertek Inc, LetinAR Inc, Lumus, Optinvent, and Shenzhen Longjing Optoelectronics are some of the leading companies operating in the Asia Pacific AR waveguide market.
Summary Info
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According to Business Market Insights’ research, the Asia Pacific AR waveguide market was valued at US$ 172.49 million in 2023 and is anticipated to reach US$ 337.14 million by 2031, registering a CAGR of 8.7% from 2023 to 2031. Rising applications of AR across various industries and growing demand for AR-based devices in gaming industry are among the critical factors attributed to drive the Asia Pacific AR waveguide market growth.
Augmented reality (AR) has rapidly emerged as a transformative technology with the potential to revolutionize the way users interact with the world. One of the key enablers of AR experiences is the AR waveguide, a crucial component that facilitates the delivery of virtual information in a seamless and immersive manner. As a result, there is a rise in applications of AR across various industries such as industrial, electronics, healthcare, and automobile. With AR waveguides, workers can access real-time information, instructions, and data overlays directly in their field of view. In the abovementioned industries, this technology is used to enhance productivity, minimize errors, and improve overall efficiency. By equipping workers with AR-enabled devices such as smart glasses, AR waveguides ensure that critical information is readily available, leading to faster decision-making and streamlined processes.
In the healthcare industry, AR waveguides are revolutionizing medical training and enhancing patient care. Surgeons use AR-enabled devices to access patient data, overlay surgical plans, and guide procedures with precision. Medical students and professionals benefit from realistic simulations and virtual anatomy models, improving their learning experiences. Overall, AR waveguides are helping healthcare providers deliver more accurate diagnoses, enhance surgical outcomes, and improve patient safety. In February 2023, Altoida Inc., a prominent player in the augmented reality market, formed a strategic partnership with a pharmaceutical company-Click Therapeutics-to leverage AR technology in the healthcare sector. The collaboration aims to enhance the assessment of baseline cognition measures and their influence on patient outcomes. This collaboration also exemplifies the active involvement of leading AR companies in the healthcare industry, offering their AR tools to support and revolutionize healthcare practices. Thus, the rising applications of AR across various industries fuel the AR waveguide market growth.
On the contrary, high manufacturing cost hampers the growth of Asia Pacific AR waveguide market.
Based on type, the Asia Pacific AR waveguide market is bifurcated into geometric waveguide, holographic waveguide, and diffractive waveguide. The geometric waveguide segment held 50.5% market share in 2023, amassing US$ 87.02 million. It is projected to garner US$ 159.58 million by 2031 to register 7.9% CAGR during 2023-2031.
In terms of application, the Asia Pacific AR waveguide market is divided into consumer electronics, industrial, military, and others. The consumer electronics segment held 51.6% share of Asia Pacific AR waveguide market in 2023, amassing US$ 88.97 million. It is projected to garner US$ 184.36 million by 2031 to expand at 9.5% CAGR from 2023 to 2031.
Based on country, the Asia Pacific AR waveguide market is categorized into China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific. Our regional analysis states that China captured 37.8% share of Asia Pacific AR waveguide market in 2023. It was assessed at US$ 65.14 million in 2023 and is likely to hit US$ 139.83 million by 2031, registering a CAGR of 10.0% during 2023-2031.
Key players operating in the Asia Pacific AR waveguide market are Zhejiang Crystal-Optech Co Ltd, Dispelix, Goertek Inc, LetinAR Inc, Lumus, Optinvent, and Shenzhen Longjing Optoelectronics, 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.
o Highlights key business priorities in order to assist companies to realign their business strategies
o The key findings and recommendations highlight crucial progressive industry trends in the Asia Pacific AR waveguide market, thereby allowing players across the value chain to develop effective long-term strategies
o Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
o Scrutinize in-depth Asia Pacific market trends and outlook coupled with the factors driving the Asia Pacific AR waveguide market, as well as those hindering it
o Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution.
1. Introduction
1.1 The Research Team Research Report Guidance
1.2 Market Segmentation
2. Executive Summary
2.1 Key Insights
2.2 Market Attractiveness
3. Research Methodology
3.1 Secondary Research
3.2 Primary Research
3.2.1 Hypothesis formulation:
3.2.2 Macro-economic factor analysis:
3.2.3 Developing base number:
3.2.4 Data Triangulation:
3.2.5 Country level data:
4. Asia Pacific AR Waveguide Market Landscape
4.1 Overview
4.2 PEST Analysis
4.3 Ecosystem Analysis
5. Asia Pacific AR Waveguide Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Increasing Demand for AR-based Devices
5.1.2 Rising Applications of AR Across Various Industries
5.1.3 Increasing Demand for AR Wearables
5.2 Market Restraints
5.2.1 High Manufacturing Cost
5.2.2 Limited Field of View and Associated Challenges
5.3 Market Opportunities
5.3.1 Advancements in Optical Waveguide Technology
5.3.2 Enhancements in AR Device Design
5.4 Future Trends
5.4.1 Growing Demand for AR-based Devices in Gaming Industry
5.5 Impact of Drivers and Restraints:
6. AR Waveguide Market – Asia Pacific Market Analysis
6.1 Asia Pacific AR Waveguide Market Revenue (US$ Million), 2021-2031
6.2 AR Waveguide Market Forecast Analysis
7. Asia Pacific AR Waveguide Market Analysis – by Type
7.1 Geometric Waveguide
7.1.1 Overview
7.1.2 Geometric Waveguide: AR Waveguide Market – Revenue and Forecast to 2031 (US$ Million)
7.2 Holographic Waveguide
7.2.1 Overview
7.2.2 Holographic Waveguide: AR Waveguide Market – Revenue and Forecast to 2031 (US$ Million)
7.3 Diffractive Waveguide
7.3.1 Overview
7.3.2 Diffractive Waveguide: AR Waveguide Market – Revenue and Forecast to 2031 (US$ Million)
8. Asia Pacific AR Waveguide Market Analysis – by Application
8.1 Consumer Electronics
8.1.1 Overview
8.1.2 Consumer Electronics: AR Waveguide Market – Revenue and Forecast to 2031 (US$ Million)
8.2 Industrial
8.2.1 Overview
8.2.2 Industrial: AR Waveguide Market – Revenue and Forecast to 2031 (US$ Million)
8.3 Military
8.3.1 Overview
8.3.2 Military: AR Waveguide Market – Revenue and Forecast to 2031 (US$ Million)
8.4 Others
8.4.1 Overview
8.4.2 Others: AR Waveguide Market – Revenue and Forecast to 2031 (US$ Million)
9. Asia Pacific AR Waveguide Market – Country Analysis
9.1 Asia Pacific
9.1.1 Asia Pacific: AR Waveguide Market – Revenue and Forecast Analysis – by Country
9.1.1.1 Asia Pacific: AR Waveguide Market – Revenue and Forecast Analysis – by Country
9.1.1.2 China: AR Waveguide Market – Revenue and Forecast to 2031 (US$ Million)
9.1.1.2.1 China: AR Waveguide Market Breakdown, by Type
9.1.1.2.2 China: AR Waveguide Market Breakdown, by Application
9.1.1.3 Japan: AR Waveguide Market – Revenue and Forecast to 2031 (US$ Million)
9.1.1.3.1 Japan: AR Waveguide Market Breakdown, by Type
9.1.1.3.2 Japan: AR Waveguide Market Breakdown, by Application
9.1.1.4 India: AR Waveguide Market – Revenue and Forecast to 2031 (US$ Million)
9.1.1.4.1 India: AR Waveguide Market Breakdown, by Type
9.1.1.4.2 India: AR Waveguide Market Breakdown, by Application
9.1.1.5 Australia: AR Waveguide Market – Revenue and Forecast to 2031 (US$ Million)
9.1.1.5.1 Australia: AR Waveguide Market Breakdown, by Type
9.1.1.5.2 Australia: AR Waveguide Market Breakdown, by Application
9.1.1.6 South Korea: AR Waveguide Market – Revenue and Forecast to 2031 (US$ Million)
9.1.1.6.1 South Korea: AR Waveguide Market Breakdown, by Type
9.1.1.6.2 South Korea: AR Waveguide Market Breakdown, by Application
9.1.1.7 Rest of APAC: AR Waveguide Market – Revenue and Forecast to 2031 (US$ Million)
9.1.1.7.1 Rest of APAC: AR Waveguide Market Breakdown, by Type
9.1.1.7.2 Rest of APAC: AR Waveguide Market Breakdown, by Application
10. Competitive Landscape
10.1 Heat Map Analysis by Key Players
10.2 Company Positioning & Concentration
11. Industry Landscape
11.1 Overview
11.2 Market Initiative
11.3 Product Development
11.4 Mergers & Acquisitions
12. Company Profiles
12.1 Zhejiang Crystal-Optech Co., Ltd.
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 Dispelix
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 Goertek Inc
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 LetinAR Inc.
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.6 Optinvent
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 Shenzhen Longjing Optoelectronics
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
13. Appendix
13.1 Glossary
13.2 About The Research Team
Table 1. Asia Pacific AR Waveguide Market Segmentation
Table 2. List of Vendors
Table 3. AR Waveguide Market – Revenue and Forecast to 2031 (US$ Million)
Table 4. AR Waveguide Market – Revenue and Forecast to 2031 (US$ Million) – by Type
Table 5. AR Waveguide Market – Revenue and Forecast to 2031 (US$ Million) – by Application
Table 6. Asia Pacific: AR Waveguide Market – Revenue and Forecast to 2031(US$ Million) – by Country
Table 7. China: AR Waveguide Market – Revenue and Forecast to 2031(US$ Million) – by Type
Table 8. China: AR Waveguide Market – Revenue and Forecast to 2031(US$ Million) – by Application
Table 9. Japan: AR Waveguide Market – Revenue and Forecast to 2031(US$ Million) – by Type
Table 10. Japan: AR Waveguide Market – Revenue and Forecast to 2031(US$ Million) – by Application
Table 11. India: AR Waveguide Market – Revenue and Forecast to 2031(US$ Million) – by Type
Table 12. India: AR Waveguide Market – Revenue and Forecast to 2031(US$ Million) – by Application
Table 13. Australia: AR Waveguide Market – Revenue and Forecast to 2031(US$ Million) – by Type
Table 14. Australia: AR Waveguide Market – Revenue and Forecast to 2031(US$ Million) – by Application
Table 15. South Korea: AR Waveguide Market – Revenue and Forecast to 2031(US$ Million) – by Type
Table 16. South Korea: AR Waveguide Market – Revenue and Forecast to 2031(US$ Million) – by Application
Table 17. Rest of APAC: AR Waveguide Market – Revenue and Forecast to 2031(US$ Million) – by Type
Table 18. Rest of APAC: AR Waveguide Market – Revenue and Forecast to 2031(US$ Million) – by Application
Table 19. Heat Map Analysis by Key Players
Figure 1. Asia Pacific AR Waveguide Market Segmentation, by Country
Figure 2. PEST Analysis
Figure 3. Ecosystem Analysis
Figure 4. AR Waveguide Market – Key Market Dynamics
Figure 5. Impact Analysis of Drivers and Restraints
Figure 6. AR Waveguide Market Revenue (US$ Million), 2021-2031
Figure 7. AR Waveguide Market Share (%) – by Type (2023 and 2031)
Figure 8. Geometric Waveguide: AR Waveguide Market – Revenue and Forecast to 2031 (US$ Million)
Figure 9. Holographic Waveguide: AR Waveguide Market – Revenue and Forecast to 2031 (US$ Million)
Figure 10. Diffractive Waveguide: AR Waveguide Market – Revenue and Forecast to 2031 (US$ Million)
Figure 11. AR Waveguide Market Share (%) – by Application (2023 and 2031)
Figure 12. Consumer Electronics: AR Waveguide Market – Revenue and Forecast to 2031 (US$ Million)
Figure 13. Industrial: AR Waveguide Market – Revenue and Forecast to 2031 (US$ Million)
Figure 14. Military: AR Waveguide Market – Revenue and Forecast to 2031 (US$ Million)
Figure 15. Others: AR Waveguide Market – Revenue and Forecast to 2031 (US$ Million)
Figure 16. Asia Pacific AR Waveguide Market, by Key Countries – Revenue (2023) (US$ Million)
Figure 17. Asia Pacific: AR Waveguide Market Breakdown, by Key Countries, 2023 and 2031 (%)
Figure 18. China: AR Waveguide Market – Revenue and Forecast to 2031(US$ Million)
Figure 19. Japan: AR Waveguide Market – Revenue and Forecast to 2031(US$ Million)
Figure 20. India: AR Waveguide Market – Revenue and Forecast to 2031(US$ Million)
Figure 21. Australia: AR Waveguide Market – Revenue and Forecast to 2031(US$ Million)
Figure 22. South Korea: AR Waveguide Market – Revenue and Forecast to 2031(US$ Million)
Figure 23. Rest of APAC: AR Waveguide Market – Revenue and Forecast to 2031(US$ Million)
Figure 24. Company Positioning & Concentration
The List of Companies – Asia Pacific AR Waveguide Market
o Zhejiang Crystal-Optech Co., Ltd.
o Dispelix.
o Goertek Inc.
o LetinAR Inc.
o Lumus.
o Optinvent.
o Shenzhen Longjing Optoelectronics.
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