Head Mounted Display (HMD) Market Report
Head Mounted Display (HMD) Market, by Product (Helmet Mounted Display, Wearable Glass), End-use [Defense, Consumer (Augmented Reality, Virtual Reality, Video Gaming), Others], Application (Imaging, Security, Tracking, Training & Simulation) Regional Analysis (North America, Europe, Asia-Pacific, LAMEA): Global Opportunity Analysis and Industry Forecast, 2020–2027
Head Mounted Display Market Analysis:
Head Mounted Display is a technological device that has projection screens and small displays placed accurately to cover eyes and are worn on the head as a gear or in goggle form. A head mounted display device comprises of camera, an emission projector, storage device, headphones, monitor, and various other minute accessories. The head mounted display device has brought a technological revolution in multiple industries for various purposes and is being extensively used either for work, educational, or leisure purposes. Head mounted devices are lightweight and usually come in a circular cap-like shape or goggle resembling shape which enables a comfortable and strong grip on the wearer’s head. The projectors are capable of emitting high-resolution pictures on screens paired with crystal clear audio. Head mounted display devices usually don’t obstruct the vision but they create an overlying image on the real view of a user. Head mounted display devices have become extremely popular amongst the general public as well as public and private institutions which has caused a drastic rise in demand for them.
The growing importance of AR and VR, increasing demand for portable and lightweight HMD’s to drive the market growth
The rising importance of virtual reality (VR) and augmented reality (AR) technologies for corporate, medical, military, stimulation and education, and customer leisure purposes have significantly increased demand for head mounted displays. AR and VR technologies enable a person to view, feel, and experience a stimulation almost close to an environment/surrounding without being physically present there. For instance, a surgeon can perform an artificial surgery using AR/VR on any organ to study and understand the patient’s condition better and choose the most optimum surgery plan. AR and VR are highly capable of creating accurate representations of various environments and situations which gives it high flexibility. AR and VR enable its users to sit at one place and experience multiple things at low costs. They are majorly being incorporated in mobile technologies with the rise in the smartphone segment. Industries and organizations are using AR and VR technology to upgrade infrastructural facilities and creating an ecosystem based on virtual reality applications. All these factors have facilitated the head mounted display market growth. Further, demand for compact, portable, and lightweight computing devices like head mounted display systems have grown majorly. HMD devices are highly mobile which enables users to carry them easily anywhere. Owing to these benefits users are investing exponentially in the head mounted display devices.
Standardization issues and poorly designed head mounted display systems are negatively impacting the market growth
Head mounted display market has no standardization norms and every organization creates its product as per compatibility with other devices like smart-phones and others. This creates serious compatibility issues and restricts the market to only some people. Every device has its features, design, and specifications which is not completely supported by head mounted display systems and this creates a negative impact on users viewing experience. Further, these HMD devices have issues like over-heating and excess weight which causes strain on the user’s neck.
Technological advancements and upgradations to create lucrative opportunities for market growth
Head mounted display market players are extensively investing in cutting-edge technologies which could reduce the weight of the devices, enhance the user’s experience, and all at comparatively low costs. The development of miniature systems could make these devices as light-weight as a normal goggle. Technological upgradations will further allow high resolution and ultra-high definition projected image, increased compatibility, and a wide view of the field. The upgradations will offer features like increased smart capabilities, compact, highly mobile, reduced latency, and high flexibility. Owing to these factors, the demand for head mounted display systems is anticipated to increase massively and create a lucrative opportunity for market growth.
Head Mounted Display (HMD) Market, by Product:
Helmet mounted display segment will be the most lucrative till 2027
Helmet mounted display segment will have a dominating share in the global market and it is expected to register a significant revenue during the forecast timeframe. Helmet mounted displays are capable of providing a better viewing experience to its user. Helmet mounted display systems are extensively used in the military and defense sector for the factors that they are more stable, cost-effective, and provide greater flexibility. While the wearable glass systems are costly and are restricted to only technologically advanced regions, the helmet-mounted display systems cover a wider region. This increases the popularity of helmet systems as they have appropriate tech support and repair centers available at the majority of the places. All these factors are facilitating the growth of helmet-mounted display segment growth.
Head Mounted Display (HMD) Market, by End-Use:
The consumer segment will grow at a significant rate
The consumer segment is expected to have significant growth in the head mounted display market during the forecast period. Growing smartphone users, increased awareness about AR and VR, better compatibility, and growing demand for entertainment are driving the market growth. Virtual reality (VR) is extensively used in various consumer applications like entertainment, gaming, movies, theme parks, and museums. Further, availability at extremely low prices has increased HMD systems demand by a huge margin. Rising investments in the gaming industry to enhance user experience and give them an almost real life-like experience have significantly increased the use of HMD systems for AR and VR applications.
Head Mounted Display (HMD) Market, by Application:
Training and simulation segment will grow exponentially
The training and simulation segment is anticipated to grow exponentially in the head mounted display market during the forecast timeframe. Training and simulation applications are used for enhancing the skills of a person by using HMD systems to create a real-life situation. This helps a person to develop skills and facilitates better decision making when such situations occur in real life and this ensures that the person acts fast and chooses the best plan of action. Training and simulation are majorly used in defense and military sectors and healthcare sectors. These factors help in the development of a person without causing any real harm, at extremely low costs, and enables to examine their skills and capabilities. Owing to these factors and benefits, universities, organizations, governments, and various other institutions have started investing in HMD systems for education and training purposes.
Head Mounted Display (HMD) Market, by Regional Analysis:
North America region to hold the largest market share
North America region is anticipated to hold the majority of the market share in the head mounted display market during the forecast timeframe. North American region extensively uses head mounted display devices for various sectors like military and defense, safety services, and healthcare. Further, the growing demand for portable, flexible, and wearable computing devices by the consumer segment is expected to fuel the market growth. Also, the region is massively investing in research and development (R&D) activities to develop new and better VR and AR technologies which will create lucrative opportunities for the market’s growth.
Europe region to grow at a fast pace
Europe region is anticipated to grow at a fast pace in the head mounted display market during the forecast timeframe. Technological upgradations in the sector of display technologies will increase the demand for head mounted display systems in the region. Further, increased advancement and better technological infrastructure will help in reducing the production and maintenance cost. Also, increased focus by government organizations for different applications will create lucrative opportunities for the market to grow.
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Some of the significant head mounted display market players include Trivision, Sony Corporation, Google, Syndiant, NEC Corporation, Innovega Inc, BAE Systems, eMagin, Inc, Facebook Technologies, LLC, and Seiko Epson Corporation.
Market players prefer inorganic growth strategies to expand into local markets.
Head mounted display market players are emphasizing increasingly on advanced product development and merger & acquisition. These are the regular strategies followed by established organizations. To emphasize more on the competitor analysis of market players, the porter’s five force model is explained in the report.
Historical Market Estimations
Base Year for Market Estimation
Forecast timeline for Market Projection
North America, Europe, Asia-Pacific, LAMEA
Segmentation by Product
Segmentation by End-Use
Segmentation by Application
Key Countries Covered
U.S., Canada, Germany, France, Spain,
Russia, Japan, China, India, South Korea, Australia, Brazil, and Saudi Arabia
Key Companies Profiled
Source: Research Dive Analysis
Q1. Which are the leading companies in the head mounted display market?
A. Sony Corporation, Trivison, and BAE Systems are the leading companies in the head mounted display market.
Q2. Which region possesses greater investment opportunities in the coming future?
A. The Europe region possesses great investment opportunities for investors to witness the most promising growth in the future.
Q3. What are the strategies opted by the leading players in this market?
A. Technological advancements, product development, along with joint ventures are the key strategies opted by the operating companies in this market.
Q4. Which companies are investing more in R&D practices?
A. Facebook Technologies, LLC and Google are investing more in R&D practices.