Pune,India, April 19, 2022 (GLOBE NEWSWIRE) -- Head Mounted Display Market is anticipated to grow at a steady growth rate over the forecast period, owing to the upsurge in adoption of augmented reality (AR) and virtual reality (VR) technologies along with the rising investments in development of head mounted displays. Head-mounted display or HMD is a computer display device that is worn on the head as part of the helmet. This system has a small screen display in front of each eye which effortlessly presents information in front of the eyes of a user. Display streams in images, data, and other information in front of the each of the wearer's eye.
Most of the time, HMDs are the multimedia or virtual reality device designed mainly for entertainment purposes. However, some models, have real-world applications, such as being used as a part of the heads-up display in the number of special weapon systems
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Key Insights & Findings:
- The head-mounted segment led the head mounted display market and valued at USD 3.30 Billion in 2020. Growth of this segment is mainly driven increase in demand from the end users to have compact and portable display device.
- The displays segment accounted for the largest market share and valued at USD 1.44 Billion in 2020. Displays are the most important components of HMDs and its falling prices in the global market fuels growth of the segment.
- The wired segment accounted for the significant market share and valued at USD 2.72 Billion in 2020. This growth is attributed to the proliferation of tethered headsets that are commonly referred as wired connectivity headsets and are connected to game consoles or PCs through cords.
- The consumer segment accounted for the largest market share and valued at USD 3.18 Billion in 2020. Growth of this segment is mainly driven by increase in demand for head mounted displays due to customer leisure purposes.
- The virtual reality (VR) segment accounted for the largest market share and valued at USD 1.21 Billion in 2020. Growth of this segment is mainly driven by rising product development to ensure immersive experience for users by VR headset manufacturers.
- The regions analyzed for the market include North America, Europe, South America, Asia Pacific, and Middle East and Africa. The North America region emerged as the largest market for the head mounted display market and valued at USD 1.83 Billion in 2020. The North America holds a tremendous potential for head mounted display production and demand. The number of industry verticals in this regions such as military and defense, healthcare, and safety services are rapidly adopting head mounted display systems. However, the Europe region is likely to register the significant growth during the forecast period. This is mainly due to flourishing the medical and healthcare sector, fuelling demand for head mounted displays.
Key players operating in the global head mounted display market are Sony, Google, Microsoft, Samsung, Oculus, HTC, Seiko Epson, Lenovo, Magic Leap, and Vuzix among others. To enhance their market share in the global Head Mounted Display market, the key vendors are now focusing on adopting the prominent strategies such as recent developments, product innovation, mergers & acquisitions, joint venture, collaborations, and partnership.
- For instance, in October 2021, Magic Leap, one of the leading augmented reality (AR) companies revealed the second version of its headset, along with the $500m in new investment. The new product launch is intended primarily for business use and has a wider field of view, according to the company.
- In October 2020, Vuzix Corporation, a supplier of Smart Glasses and Augmented Reality (AR) technology & products entered into an agreement with its medical partner located in the United States, for building a customized head mounted display system for assisted medical cancer surgery.
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Global Head Mounted Display Market by Product Type:
- Head-mounted
- Eyewear
Global Head Mounted Display Market by Component:
- Processors and Memory
- Displays
- Lenses
- Cameras
- Sensors
- Controllers
- Cases and Connectors
- Others
Global Head Mounted Display Market by Connectivity:
- Wired
- Wireless
Global Head Mounted Display Market by Technology:
- AR Technology
- VR Technology
Global Head Mounted Display Market by Application:
- Consumer
- Commercial
- Enterprise & Industry
- Engineering & Design
- Healthcare
- Aerospace & Defence
- Education
- Others
Global Head Mounted Display Market by Region:
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Russia
- Asia-Pacific
- Japan
- China
- India
- Korea
- Southeast Asia
- South America
- Brazil
- Peru
- Middle East and Africa
- UAE
- South Africa
- Saudi Arabia
About the report:
This research report gives detailed data about the major factors influencing the growth of the Head Mounted Display market at the national and local level forecast of the market size, in terms of value, market share by region, and segment; regional market positions; segment and country opportunities for growth; Key company profiles, SWOT, product portfolio and growth strategies. It studies the market essential sides such as top participants, expansion strategies, business models, and other market features to improve market insight.
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