New York, USA, May 11, 2023 (GLOBE NEWSWIRE) -- According to a comprehensive research report by Market Research Future (MRFR), “Head Mounted Display Market Research Report Information By Technology, End-Use, Product Type, Connectivity, Application, Type, And Region - Forecast Till 2032, the market is anticipated to acquire a valuation of approximately USD 203.7 Billion by the end of 2032. The reports further predict the market to flourish at a robust CAGR of over 48.50% during the assessment timeframe.
Head Mounted Display Market Synopsis
An advanced set of goggles make up the head-mounted display. The head-mounted display includes a remote control, detector, and camera, among other accessories. A head-mounted display, also called an HMD, is a screen attached to a helmet and typically equipped with a minuscule optic in the center of one or both eyes. HMD displays are frequently used in virtual reality gaming, military operations, and healthcare settings due to their portability. The declining cost of microdisplays and the growing need for helmet-mounted displays are expected to drive the market. Investments in creating HMDs and their use have increased significantly in recent years. Additionally, the increasing demand for portable devices, lightweight head mounted displays, and head-mounted displays for video games will create additional opportunities for expanding the head mounted display market. Financers have been eager to fund organizations whose technologies and products have recently been validated, and significant capital has been placed in the HMD market.
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Head Mounted Display Market Competitive Landscape:
The powerful contenders in the head mounted display market are:
- Alphabet Inc.
- Sony Corporation
- Thales Group
- Avegant Corp.
- FOVE Inc.
- Magic Leap Inc.
- SAMSUNG
- Microsoft Corporation
- BAE Systems
- Elbit Systems Ltd
- Meta View Inc.
- CINOPTICS
- Kopin Corporation
Head Mounted Display Market Report Scope:
| Report Metric | Details |
| Revenue forecast in 2032 | USD 203.7 Billion |
| Growth Rate | CAGR of 48.50% from 2023 to 2032 |
| Base Year | 2022 |
| Study Period | 2023-2032 |
| Key Market Opportunities | Growing use of HMDs for video games |
| Key Market Drivers | Investments by major players in development of HMDs and increased adoption of AR and VR technologies due to COVID-19 |
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Head Mounted Display Market U.S.P. Covered:
Market Drivers:
The cost of creating HMDs and implementing them in various applications has increased significantly. Growing investments by significant key players are the influences anticipated to propel the market. The market is also expected to grow as augmented reality and virtual reality devices become more widely used. The increase in investments by significant key players in the creation of head mounted displays is one of the key factors anticipated to propel the advancement of the market for head-mounted displays over the anticipated period. The expansion of the head mounted display market is also anticipated to be fueled by the prevalence of practical head mounted displays.
Additionally, it is predicted that rising technological advancements and increased digitalization will temper market growth for head-mounted displays. The market will soon have opportunities due to the rising demand for portable devices and lightweight head-mounted displays. An immense amount of funds have been put into the HMD market, and investors have been determined to support companies whose products and technologies have recently been validated. The cost of creating HMDs and implementing them in various applications has increased significantly.
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Market Restraints:
However, the lack of design standards for head-mounted projection displays and the rise in health issues related to their low resolution and absence of movement are expected to restrain the market's expansion over the forecast period. The lack of consumer awareness of HMDs is limiting market expansion. However, the decline in awareness of head-mounted displays may soon make the growth even more difficult.
Head Mounted Display Market Segmentation
By component, the market includes processor and memory, controller, sensor, camera, display, lens, case and connector, goggles, head tracker, computing, battery, pico projectors technology, and accessories. By technology, the market includes augmented reality and virtual reality. By end-use, the market includes consumer, commercial, enterprise and industry, engineering and design, military, defense, aerospace, fashion, medical, education, sports, and journalism. The market includes security, training and simulation, tracking, and imaging by application. By product type, the market includes head-mounted and eyewear. By connectivity, the market includes wired and wireless. By type, the market includes discrete, slide-on, and integrated.
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Regional Insights
North America is currently expected to dominate the market throughout the forecast period. Key players are thought to be responsible for this growth. The use of head-mounted display gaming has also increased in the region. The use of head-mounted displays in various applications, including commercial and medical ones, will also contribute to the market's expansion in the region over the forecast period. The expansion of the medical industry is expected to cause the Head Mounted Display Market in Europe to grow significantly. The increasing demand for helmet-mounted displays due to their use in various industries is also anticipated to fuel the expansion of the head mounted display market across the region over the years. During the forecast period, the Asia-Pacific is anticipated to hold a sizable market share for head-mounted displays. This market expansion can be attributed to emerging countries like China and India using AR and VR technologies more frequently. The demand for head-mounted displays in the medical industry in medicine and surgery is also boosting the market. The European market is anticipated to grow due to the increasing use of HMD devices in education.
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