Chicago, Feb. 16, 2023 (GLOBE NEWSWIRE) -- Head-Mounted Display Market have a high penetration rate in video games, as they enhance the gaming experience. PlayStation (PS) PlayStation has made HMDs more popular. The gaming industry has undergone a technological evolution with the emergence of VR and 3D technologies. Sony Corporation (Japan), Oculus VR (US), and HTC Corporation (Taiwan) are some of the key companies operating in the market.
This growth is largely driven by a surge in investment in HMDs, increased adsoption of Augmented Reality (AR) and Virtual Reality (VR) technologies due to the COVID-19 pandemic, availability of low-cost HMDs, and technological advancements.
The high penetration rate in the video game industry, where HMDs enhance the gaming experience, is one of the major drivers of the HMD market. The gaming industry has undergone a technological revolution as a result of the introduction of VR and 3D technologies. HMDs project digital images, enabling a 3D view that improves the user experience by making game screens look like real-world images. As a result, the expanding gaming sector is expected to drive the HMD market.
North America is the leading region for HMDs, with major investments in the US driving market growth. Adoption of new technologies and the presence of major corporations are also factors driving market growth in North America.
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Oculus VR is among the key companies in the VR industry. The company’s VR headset, Oculus Rift, gained admiration from various companies for its potential effectiveness in a wide range of applications. The company has made high investments in R&D and is also actively involved in strategic business expansion. The company was acquired by Facebook (US) in March 2014 for about USD 2 billion, which indicates the importance of this technology and the potential value of Oculus’s Rift project. Facebook has been implementing this technology in business arenas such as gaming, architecture, education, healthcare, as well as consumer applications.
Head-mounted Display Market Report Scope :
| Report Metric | Details |
| Estimated Market Size | USD 5.5 Billion |
| Projected Market Size | USD 36.5 Billion |
| Growth Rate | CAGR of 46.0% |
| Market size available for years | 2021–2026 |
| On Demand Data Available | 2030 |
| Report Coverage |
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| Segments covered |
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| Geographies covered |
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| Companies covered |
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| Key Market Driver | Surge in Investments by Major Players in Development of HMDs |
| Largest Growing Region | North America |
| Largest Market Share Segment | Wired Connectivity Segment |
| Highest CAGR Segment | Eyewear Segment |
HMDs are wearable devices that allow users to interact with digital content and augment reality. The HMD market is growing at an unprecedented rate due to increased demand for Augmented Reality (AR) and Virtual Reality (VR) technologies. This development has been fueled further by a surge in investments in the development of HMDs by major players.
Several factors are driving the rise in investment in the HMD market. One of the most significant is the increasing use of AR and VR technologies in a wide range of industries. As these technologies become more widely available, there is a greater demand for high-quality HMDs capable of providing users with an immersive and engaging experience.
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Another factor driving the HMD market's growth is the increasing availability of low-cost HMDs. As these devices become more affordable, they become more accessible to a broader range of consumers, fueling demand for HMDs.
Furthermore, technological advancements in HMDs are contributing to the investment increase. HMDs are becoming lighter, more compact, and higher in resolution as display technologies such as OLED and micro-LED advance. This means that HMDs are now more comfortable to wear for prolonged periods of time and can provide users with more vivid and lifelike experiences.
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The advancement of the gaming industry is also driving the increase in HMD investment. HMDs are popular in the gaming industry because they improve performance.
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