North America 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)

BMIRE00030822 | Pages: 66 | Electronics and Semiconductor | Oct 2024 | Type: Regional | Status: Published

The North America AR waveguide market was valued at US$ 202.04 million in 2023 and is expected to reach US$ 343.83 million by 2031; it is estimated to record a CAGR of 6.9% from 2023 to 2031.

Increasing Demand for AR-based Devices Fuels North America AR Waveguide Market

The demand for AR-based devices is rapidly increasing across various industries, including healthcare, automobile, and entertainment, among others. According to Three Kit Inc., a visual commerce firm, it is estimated that the AR market will reach US$ 50 billion by the end of 2024. Advancements in AR content development and software tools have enabled the creation of compelling and interactive AR experiences, driving consumer engagement and brand recognition. Businesses are leveraging AR to deliver immersive product demonstrations, virtual try-on experiences, interactive training modules, and enhanced customer support services, thereby offering consumers an enhanced customer experience. As big tech invests more in augmented reality, AR-based devices are anticipated to become an integrated part of everyday life. In February 2020, Facebook (now Meta) acquired Scape, an augmented reality business that is creating a digital 3D representation of the physical world. Therefore, the growing demand for AR-based devices across various industries fuels the need for advanced waveguide technology, which drives the AR waveguide market.

North America AR Waveguide Market Overview

The North American AR waveguide market is segmented into the US, Canada, and Mexico. Augmented reality (AR) is becoming popular in North America across various sectors, including gaming & entertainment, industrial applications, and healthcare. This demand creates a requirement for key components that enable AR glasses to function, for example, waveguides. Further, North America is home to a few of the world's largest technology giants, such as Google and Facebook, which are actively developing AR products. As a result, these companies are increasingly investing in research and development associated with AR, which fuels the expansion of the AR waveguide market.

Various startups and established players across North America are involved in the development of AR waveguides. For example, in April 2024, Vuzix Corporation launched the Vuzix Shield smart safety glasses. Shield initially launched with a limited fulfillment strategy that was focused on developers and researchers. For example, in May 2023, Dispelix, a waveguide developer for XR, along with Avegant, a renowned developer of miniaturized LED light engines, launched a jointly executed reference display module. This collaboration showcases AR glasses with consumer-ready visual quality in wearables. The design is based on Dispelix Selvä—a thin, light, and bright LED waveguide combiner—and Avegant's latest light engine, AG-30L2, which has a significantly lower footprint than the previous-generation engine. The components used in the design are high-performing and can be mass-manufactured. Thus, such initiatives by the players in the region drive the AR waveguide market.

North America AR Waveguide Market Revenue and Forecast to 2031 (US$ Million)

North America AR Waveguide Market Revenue and Forecast to 2031 (US$ Million)

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North America AR Waveguide Market Segmentation  

The North America AR waveguide market is categorized into type, application, and country.

Based on type, the North America 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 North America 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 North America AR waveguide market is segmented into the US, Canada, and Mexico. The US dominated the North America AR waveguide market share in 2023.

DigiLens Inc, Dispelix, Goertek Inc, Lumus, Optinvent, and WaveOptics Ltd are some of the leading companies operating in the North America AR waveguide market.   

TABLE OF CONTENTS

 

1. Introduction

1.1 The Insight Partners 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. North America AR Waveguide Market Landscape

4.1 Overview

4.2 PEST Analysis

4.3 Ecosystem Analysis

5. North America 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 - North America Market Analysis

6.1 AR Waveguide Market Revenue (US$ Million), 2021-2031

6.2 AR Waveguide Market Forecast Analysis

7. North America 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. North America 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. North America AR Waveguide Market - Country Analysis

9.1 North America

9.1.1 North America: AR Waveguide Market - Revenue and Forecast Analysis - by Country

9.1.1.1 North America: AR Waveguide Market - Revenue and Forecast Analysis - by Country

9.1.1.2 United States: AR Waveguide Market - Revenue and Forecast to 2031 (US$ Million)

9.1.1.2.1 United States: AR Waveguide Market Breakdown, by Type

9.1.1.2.2 United States: AR Waveguide Market Breakdown, by Application

9.1.1.3 Canada: AR Waveguide Market - Revenue and Forecast to 2031 (US$ Million)

9.1.1.3.1 Canada: AR Waveguide Market Breakdown, by Type

9.1.1.3.2 Canada: AR Waveguide Market Breakdown, by Application

9.1.1.4 Mexico: AR Waveguide Market - Revenue and Forecast to 2031 (US$ Million)

9.1.1.4.1 Mexico: AR Waveguide Market Breakdown, by Type

9.1.1.4.2 Mexico: 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 DigiLens Inc.

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 Lumus

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 Optinvent

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 WaveOptics, Ltd.

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 Insight Partners

 

List of Tables

Table 1. North America 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. North America: AR Waveguide Market - Revenue and Forecast to 2031(US$ Million) - by Country

Table 7. United States: AR Waveguide Market - Revenue and Forecast to 2031(US$ Million) - by Type

Table 8. United States: AR Waveguide Market - Revenue and Forecast to 2031(US$ Million) - by Application

Table 9. Canada: AR Waveguide Market - Revenue and Forecast to 2031(US$ Million) - by Type

Table 10. Canada: AR Waveguide Market - Revenue and Forecast to 2031(US$ Million) - by Application

Table 11. Mexico: AR Waveguide Market - Revenue and Forecast to 2031(US$ Million) - by Type

Table 12. Mexico: AR Waveguide Market - Revenue and Forecast to 2031(US$ Million) - by Application

Table 13. Heat Map Analysis by Key Players

 

List of Figures

Figure 1. North America 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. North America AR Waveguide Market, by Key Countries - Revenue (2023) (US$ Million)

Figure 17. North America: AR Waveguide Market Breakdown, by Key Countries, 2023 and 2031 (%)

Figure 18. United States: AR Waveguide Market - Revenue and Forecast to 2031(US$ Million)

Figure 19. Canada: AR Waveguide Market - Revenue and Forecast to 2031(US$ Million)

Figure 20. Mexico: AR Waveguide Market - Revenue and Forecast to 2031(US$ Million)

Figure 21. Company Positioning & Concentration

 

 

  1. DigiLens Inc.
  2. Dispelix.
  3. Goertek Inc.
  4. Lumus.
  5. Optinvent.
  6. WaveOptics, Ltd.
  • Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the North America AR waveguide market.
  • Highlights key business priorities in order to assist companies to realign their business strategies
  • The key findings and recommendations highlight crucial progressive industry trends in the North America AR waveguide market, thereby allowing players across the value chain to develop effective long-term strategies
  • Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
  • Scrutinize in-depth North America market trends and outlook coupled with the factors driving the North America AR waveguide market, as well as those hindering it
  • Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution.
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