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Head Mounted Display Market attained a value of USD 3,000 Million in 2020 and is projected to register a growth rate of 46% over the forecast period. The GMI Research repost on the head-mounted display market provides a comprehensive analysis, market size and forecast, growth drivers, and restraints. The market is driven by the advent of the fourth industrial revolution and the increasing application of head-mounted displays by the defense industry.
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The head-mounted display is a kind of computer display device incorporated with projection technology for a totally captivating experience for the user. The displays are portable in nature to be carried easily by the user. This display is customarily worn on the head like glasses or helmets so that it captures the entire field of view and is majorly used in applications like watching movies and live events, gaming, social media interactions, and virtual tourism.
• HTC Corporation
• Microsoft Corporation
• Alphabet Inc.
• Samsung Electronics Co. Ltd.
• Sony Corporation
• Lenovo Group Limited
• Emagin Corporation
• Facebook, Inc.
• NEC Corporation
• BAE System Plc
The head-mounted display helps enhance the user experience by providing a real-time perception and simulation environment with information about tasks performed. The evolution of lightweight wearable technology has resulted in innovation in the Head-mounted display industry. With the evolution of lightweight displays, producers across the globe have started placing HMD as a consumer product. The growing prominence of 3D video games and the incorporation of augmented and virtual reality technologies into retail, medicine, education training, aviation, and engineering has bolstered the global head-mounted display market size.
Rapidly increasing digitalization and surging demand for portable and miniature devices are other factors complementing the market growth. In addition to it, the increasing application of HMDs in training and simulation to replicate a real-life situation in different areas, such as medical process training, dismounted soldier training, and driving, is projected to fuel the market growth. The rising need for a multimedia device designed for entertainment has strengthened the market growth. However, insufficient standardization that results in affinity issues between products impacting user experience will restrain the head mounted display market share.
By product type, the head-mounted segment is projected to witness a remarkable share in the market during the forecast period. The growing prominence and endorsement of head-mounted displays in the engineering, medical, military, research, and training industries have significantly increased market growth. Additionally, the growing deployment of sophisticated avionics with the aggravating use of helmet-mounted displays in transport aircraft, helicopters, and fighter planes for enhanced functional coordination is further encouraging market growth.
Based on the HMD type, the slide-on HMD is anticipated to expand at a remarkable rate over the forecast period. This is primarily because of the accelerating penetration of smartphones among consumers, together with the growing spread of slides on HMD for Virtual Reality experience with the help of smartphones. For instance, Google Cardboard and Samsung Gear VR are two Virtual Reality head-mounted displays that provide the user with a virtual reality experience.
The Gaming, Media, & Entertainment segment is projected to seize a higher market share during the forecast period. This is because of the increasing perforation of HMD devices in video games to enhance the gaming experience with real-world images on the gaming screens. As per the Head Mounted Display Market global forecast, HMD offers users remarkable advantages, such as bio-sensing that allows them to interact with other users in AR and VR video games, which further escalate the growth of the market.
North America is likely to expand at a faster rate in the market over the forecast period. This is primarily due to the accelerating number of digital gamers, intensified investment in the field of aerospace and defense, and rising application of digital technologies in education and research. Moreover, the global Head Mounted Display Market research report projects that the existence of key players, including Alphabet Inc., Microsoft Corporation, and Emagine Corporation, has fostered market growth.
Head Mounted Display Market Segmentation:
Segmentation by Product Type
• Head Mounted
Segmentation by HMD Type
• Discrete HMD
• Integrated HMD
• Slide-on HMD
Segmentation by Application
• Gaming, Media,& Entertainment
• Aerospace, and Defence
• Healthcare and Medical Devices
• Engineering & Industry Applications
Segmentation by Region:
• Asia Pacific
o Rest of APAC
• North America
o United States of America
o United Kingdom
o Rest of Europe
o South Africa
o Saudi Arabia
About GMI Research
GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.
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