Dublin, Dec. 20, 2023 (GLOBE NEWSWIRE) -- The "Global Head-Mounted Display (HMD) Market by Type, Technology (AR, VR), Application (Consumer, Commercial, Enterprise & Industry, Aerospace & Defense), Product Type (Head-mounted, Eyewear), Component, Connectivity and Region - Forecast to 2029" report has been added to ResearchAndMarkets.com's offering.
The global Head-Mounted Display (HMD) market is projected to reach USD 26.4 billion by 2029 from USD 7.5 billion in 2024 at a CAGR of 28.8% during the forecast period.
The major factors driving the growth of Head-mounted Display (HMD) market are growing investments by significant key players in the development of HMD, availability of low-cost HMDs, growing demand for AR and VR, technological advancements and growing digitalization, and Affordable microdisplay prices. Moreover, increasing adoption of HMDs in gaming applications, growing demand for lightweight HMDs and portable devices, and growing consumer adoption are expected to carve out new growth opportunities for market players.
Wired (Tethered HMD) to register the highest CAGR during the forecast period
Wired connectivity (Tethered HMD) is expected to register the highest CAGR of the HMD market due to two main reasons: affordability and performance. Wired HMDs are generally more affordable than wireless HMDs and can deliver a more consistent and stable performance. In addition, wired HMDs are more versatile and easier to use than wireless HMDs. They can be used with a wider range of devices and are generally easier to set up and use. As a result of these factors, wired HMDs are expected to continue to dominate the HMD market for the foreseeable future.
VR Standalone HMD to register the largest share during the forecast period
Standalone Virtual Reality (VR) Head-Mounted Displays (HMDs) are poised to secure the largest share of the HMD market, driven by recent launches and evolving consumer preferences. With a wireless and portable design, these HMDs offer unparalleled convenience, eliminating the need for external devices.
The recent surge in popularity can be attributed to the ease of use, cost efficiency, and versatility of standalone VR HMDs. Notable launches from major manufacturers, such as Oculus Quest 2 and other innovative models, showcase advancements in processing power, graphics capabilities, and enhanced sensors, contributing to a more immersive virtual experience. The appeal of standalone devices to a mass market is underscored by their broad applications, spanning gaming, entertainment, education, and training.
Market Dynamics
Drivers
- Growing Investments by Key Players in Development of HMD
- Increasing Availability of Low-Cost HMDs
- Growing Demand for AR and VR
- Technological Advancements and Growing Digitalization
- Affordable Microdisplay Prices
Restraints
- Lack of HMD Design Standardization
- Health Issues Related to Low Resolution and Absence of Movement
- Government Regulations and Standards
Opportunities
- Increasing Adoption of HMDs in Gaming
- Growing Demand for Lightweight HMDs and Portable Devices
- Growing Consumer Adoption
Challenges
- Lack of Awareness of AR and VR HMDs
- Usability Challenges
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 247 |
| Forecast Period | 2024 - 2029 |
| Estimated Market Value (USD) in 2024 | $7.5 Billion |
| Forecasted Market Value (USD) by 2029 | $26.4 Billion |
| Compound Annual Growth Rate | 28.8% |
| Regions Covered | Global |
Key Topics Covered:
Executive Summary
- Head-Mounted Displays Market Size, 2020-2029
- Standalone HMD Segment to Account for Larger Share During Forecast Period
- Displays Segment to Dominate Market During Forecast Period
- Consumer Segment to Lead Head-Mounted Display Market During Forecast Period
- VR Segment to Hold Major Share of Head-Mounted Display Market During Forecast Period
- Americas to Dominate Head-Mounted Display Market During Forecast Period
Premium Insights
- Attractive Opportunities for Head-Mounted Display Market Players - Presence of Established Technology Players in Americas to Drive Market Growth
- Head-Mounted Display Market, by Connectivity - Standalone HMD Segment to Account for Largest Share of Market During Forecast Period
- Head-Mounted Display Market, by Component - Displays Segment to Dominate HMD Market During Forecast Period
- Head-Mounted Display Market, by Application - Consumer Segment to Lead HMD Market During Forecast Period
- Head-Mounted Display Market, by Application - VR Segment to Account for Largest Market Share During Forecast Period
- Americas: HMD Market, by Application and Country, 2023 - Consumer Applications and US Held Largest Market Share in Americas in 2023
Key Technology Trends
Related Technologies
- OLED on Silicon
- Eye-Tracking and Foveated Rendering
Upcoming Technologies
- LiDAR
- Wearable Health Monitoring
Adjacent Technologies
- Haptic Feedback Integration
- Artificial Intelligence (AI) and Machine Learning (ML)
Case Studies
- Optimized Maintenance Workflows and Quality with Hololens Mixed Reality Glasses (US)
- Precise and Hands-Free Visualization of Patient Anatomy (US)
- Simulation of Dangerous Scenarios with Meta Oculus Quest (US)
- Creation of Virtual Electrical Safety Recertification Course with HTC VIVIE (US)
Companies Profiled
- BAE Systems
- Bytedance
- DPVR
- Goovis
- HP Development Company
- HTC
- Lenovo
- Lynx Mixed Reality
- Magic Leap
- Merge Labs
- Meta
- Microsoft
- Nimo Planet
- Panasonic Holdings Corporation
- Pimax
- Realmax
- Realwear
- Samsung
- Seiko Epson Corporation
- Sony Group Corporation
- Thales
- Valve Corporation
- Varjo
- Vuzix
- Zebra Technologies Corp.
For more information about this report visit https://www.researchandmarkets.com/r/x9j556
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