Europe AR Waveguide Market Forecast to 2031

At 7.9% CAGR, Europe AR Waveguide Market is Speculated 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.

o Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the Europe AR waveguide market.
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 Europe 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 Europe market trends and outlook coupled with the factors driving the Europe 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.

TABLE OF CONTENTS

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. Europe AR Waveguide Market Landscape
4.1 Overview
4.2 PEST Analysis
4.3 Ecosystem Analysis
5. Europe AR Waveguide Market – Key Market Dynamics
5.1 AR Waveguide Market – Key Market Dynamics
5.2 Market Drivers
5.2.1 Increasing Demand for AR-based Devices
5.2.2 Rising Applications of AR Across Various Industries
5.2.3 Increasing Demand for AR Wearables
5.3 Market Restraints
5.3.1 High Manufacturing Cost
5.3.2 Limited Field of View and Associated Challenges
5.4 Market Opportunities
5.4.1 Advancements in Optical Waveguide Technology
5.4.2 Enhancements in AR Device Design
5.5 Future Trends
5.5.1 Growing Demand for AR-based Devices in Gaming Industry
5.6 Impact of Drivers and Restraints:
6. AR Waveguide Market – Europe Market Analysis
6.1 AR Waveguide Market Revenue (US$ Million), 2021-2031
6.2 AR Waveguide Market Forecast Analysis
7. Europe 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. Europe 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. Europe AR Waveguide Market – Country Analysis
9.1 Europe
9.1.1 Europe: AR Waveguide Market – Revenue and Forecast Analysis – by Country
9.1.1.1 Europe: AR Waveguide Market – Revenue and Forecast Analysis – by Country
9.1.1.2 Germany: AR Waveguide Market – Revenue and Forecast to 2031 (US$ Million)
9.1.1.2.1 Germany: AR Waveguide Market Breakdown, by Type
9.1.1.2.2 Germany: AR Waveguide Market Breakdown, by Application
9.1.1.3 United Kingdom: AR Waveguide Market – Revenue and Forecast to 2031 (US$ Million)
9.1.1.3.1 United Kingdom: AR Waveguide Market Breakdown, by Type
9.1.1.3.2 United Kingdom: AR Waveguide Market Breakdown, by Application
9.1.1.4 France: AR Waveguide Market – Revenue and Forecast to 2031 (US$ Million)
9.1.1.4.1 France: AR Waveguide Market Breakdown, by Type
9.1.1.4.2 France: AR Waveguide Market Breakdown, by Application
9.1.1.5 Italy: AR Waveguide Market – Revenue and Forecast to 2031 (US$ Million)
9.1.1.5.1 Italy: AR Waveguide Market Breakdown, by Type
9.1.1.5.2 Italy: AR Waveguide Market Breakdown, by Application
9.1.1.6 Russia: AR Waveguide Market – Revenue and Forecast to 2031 (US$ Million)
9.1.1.6.1 Russia: AR Waveguide Market Breakdown, by Type
9.1.1.6.2 Russia: AR Waveguide Market Breakdown, by Application
9.1.1.7 Rest of Europe: AR Waveguide Market – Revenue and Forecast to 2031 (US$ Million)
9.1.1.7.1 Rest of Europe: AR Waveguide Market Breakdown, by Type
9.1.1.7.2 Rest of Europe: 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 Dispelix
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 Lumus
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 NIL Technology
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 Optinvent
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
12.5 WaveOptics, Ltd.
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 Goertek Inc.
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
13. Appendix
13.1 Glossary
13.2 About The Research Team

LIST OF TABLES

Table 1. Europe 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. Europe: AR Waveguide Market – Revenue and Forecast to 2031(US$ Million) – by Country
Table 7. Germany: AR Waveguide Market – Revenue and Forecast to 2031(US$ Million) – by Type
Table 8. Germany: AR Waveguide Market – Revenue and Forecast to 2031(US$ Million) – by Application
Table 9. United Kingdom: AR Waveguide Market – Revenue and Forecast to 2031(US$ Million) – by Type
Table 10. United Kingdom: AR Waveguide Market – Revenue and Forecast to 2031(US$ Million) – by Application
Table 11. France: AR Waveguide Market – Revenue and Forecast to 2031(US$ Million) – by Type
Table 12. France: AR Waveguide Market – Revenue and Forecast to 2031(US$ Million) – by Application
Table 13. Italy: AR Waveguide Market – Revenue and Forecast to 2031(US$ Million) – by Type
Table 14. Italy: AR Waveguide Market – Revenue and Forecast to 2031(US$ Million) – by Application
Table 15. Russia: AR Waveguide Market – Revenue and Forecast to 2031(US$ Million) – by Type
Table 16. Russia: AR Waveguide Market – Revenue and Forecast to 2031(US$ Million) – by Application
Table 17. Rest of Europe: AR Waveguide Market – Revenue and Forecast to 2031(US$ Million) – by Type
Table 18. Rest of Europe: AR Waveguide Market – Revenue and Forecast to 2031(US$ Million) – by Application
Table 19. Heat Map Analysis by Key Players

LIST OF FIGURES

Figure 1. Europe AR Waveguide Market Segmentation, by Country
Figure 2. PEST Analysis
Figure 3. Ecosystem Analysis
Figure 4. Impact Analysis of Drivers and Restraints
Figure 5. AR Waveguide Market Revenue (US$ Million), 2021-2031
Figure 6. AR Waveguide Market Share (%) – by Type (2023 and 2031)
Figure 7. Geometric Waveguide: AR Waveguide Market – Revenue and Forecast to 2031 (US$ Million)
Figure 8. Holographic Waveguide: AR Waveguide Market – Revenue and Forecast to 2031 (US$ Million)
Figure 9. Diffractive Waveguide: AR Waveguide Market – Revenue and Forecast to 2031 (US$ Million)
Figure 10. AR Waveguide Market Share (%) – by Application (2023 and 2031)
Figure 11. Consumer Electronics: AR Waveguide Market – Revenue and Forecast to 2031 (US$ Million)
Figure 12. Industrial: AR Waveguide Market – Revenue and Forecast to 2031 (US$ Million)
Figure 13. Military: AR Waveguide Market – Revenue and Forecast to 2031 (US$ Million)
Figure 14. Others: AR Waveguide Market – Revenue and Forecast to 2031 (US$ Million)
Figure 15. Europe AR Waveguide Market, by Key Countries – Revenue (2023) (US$ Million)
Figure 16. Europe: AR Waveguide Market Breakdown, by Key Countries, 2023 and 2031 (%)
Figure 17. Germany: AR Waveguide Market – Revenue and Forecast to 2031(US$ Million)
Figure 18. United Kingdom: AR Waveguide Market – Revenue and Forecast to 2031(US$ Million)
Figure 19. France: AR Waveguide Market – Revenue and Forecast to 2031(US$ Million)
Figure 20. Italy: AR Waveguide Market – Revenue and Forecast to 2031(US$ Million)
Figure 21. Russia: AR Waveguide Market – Revenue and Forecast to 2031(US$ Million)
Figure 22. Rest of Europe: AR Waveguide Market – Revenue and Forecast to 2031(US$ Million)
Figure 23. Company Positioning & Concentration