Global Market for Head Mounted Display Products is Anticipated to grow at a Significant Pace i.e., USD 38.1 Billion during the Forecast Period 2021-2027

Published Date: Jul, 2021

The global head mounted display market is expected to witness a CAGR of 46.2% during the forecast period 2020-2027. The key factors contributing to the growth of the global head-mounted display market are the increase in investments by the industry players, increasing prominence of VR and AR technologies as a result of COVID-19, low-cost HMDs, rise in digitalization, and technological development in the head-mounted display. However, the lack of standardization of HMD design, health issues related to low resolution and lack of motion, screen delay, and power consumption will impact the overall performance of the VR devices, which may create obstacles in the head-mounted display market globally. Nevertheless, the increase in funds in head-mounted displays will offer potential opportunities for market growth. The rise in demand for mobile-based AR applications, the introduction of lightweight wearable technology, and lightweight display manufacturers are positioning head-mounted display as a consumer product, thus contributing to the growth of the global head-mounted display market.

Microsoft has won a USD 22 billion contract for manufacturing Augmented Reality Gear from the US Army. It would start manufacturing Integrated Augmentation Systems under the contract, which is for over a timeline of 10 years.

The COVID-19 pandemic has negatively impacted the global head-mounted display market as the manufacturing units of the key players are temporarily shut down due to stringent lockdown and limited supply of raw material and a lack of skilled labor. Due to the pandemic, many scheduled product launches and related developments have been postponed. However, during the forecast period, the impact of COVID19 is expected to decrease.

Browse 83 market data Tables and 50 Figures spread through 245 Pages and in-depth TOC on "Head Mounted Display Market by HMD Type (Slide on HMD, Integrated HMD, and Discrete HMD), by Technology (AR Technology and VR Technology), by Component (Processors and Memory, Displays, Lenses, Sensors, Controllers, Cameras, Cases and Connectors, and Others) by Product Type (Head-Mounted and Eyewear ), by Connectivity (Wired and Wireless), by Application (Consumer, Commercial, Enterprise & Industry, Engineering & Design, Healthcare, Aerospace & Defense, and Others), and Region - Global Forecast to 2027"

Virtual reality technology held the largest share of the head-mounted display market in 2020.

Based on technology, the head-mounted display market is bifurcated into AR technology and VR technology.  There is an increase in the number of new entrants who are offering HMD at less cost, this there is widespread adoption of VR HMDs in consumer applications. The main reason for the growth of the VR HMD is the adoption of HMD in gaming.

Global Head Mounted Display Market Segmentation Analysis

Segment

Categorization

Leading Category

HMD Type

Slide on HMD, Integrated HMD, and Discrete HMD

Integrated HMD (Largest)

Discrete HMD

 (Fastest CAGR)

Technology

AR Technology and VR Technology

VR Technology (Largest)

AR Technology (Fastest)

Component

Processors and Memory, Displays, Lenses, Sensors, Controllers, Cameras, Cases and Connectors, and Others

Display (High CAGR)

Product Type

Head-Mounted and Eyewear

Eyewear (Largest)

Connectivity

Wired and Wireless

Wired (Largest)

Application

Consumer, Commercial, Enterprise & Industry, Engineering & Design, Healthcare, Aerospace & Defense, and Others

Enterprise & Industry (Largest)

Region

North America, Europe, Asia-Pacific, and Rest of the World

Europe (Largest)

Asia-Pacific (Fastest)

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Asia Pacific Head Mounted Display Market is anticipated to emerge as a lucrative region during the forecast period

The Asia-pacific is anticipated to create promising new opportunities in the region as  China, Japan, Australia, and India are high adopting AR and VR technologies, which is one of the major reasons for the growth of the Head-Mounted Display (HMD) market in the APAC region. Also, there is low production cost, low maintenance cost, and easy availability of cheap and skilled labor in the region. The rapidly growing consumer electronics market in the Asia-Pacific region is expected to create numerous opportunities for Head-Mounted Displays (HMDs) in the region.

Some of the major players in the global car towing service market include Sony Group Corporation, Google, Microsoft, HTC Corporation, Facebook Technologies, LLC, BAE Systems, Samsung, Seiko Epson Corporation, Magic Leap, Inc., and Lenovo.

Scope of the Report

Report Metric

Details

Market Size Available for the Years in the Study

2019–2027

Historical Period

2019–2020

Base Year

2020

Forecast Period

2021–2027

Segments Covered in the Study

HMD Type, Technology, Component, Product Type, Connectivity, Application and Region

Geographies Covered in the Study

North America (U.S., Canada, Mexico), Europe (Germany, U.K., France, Italy, Spain, Russia), Asia-Pacific (China, Japan, India, South Korea), and Rest of the World (Brazil, Saudi Arabia, South Africa, U.A.E.)

Companies Covered in the Study

Sony Group Corporation, Google, Microsoft, HTC Corporation, Facebook Technologies, LLC, BAE Systems, Samsung, Seiko Epson Corporation, Magic Leap, Inc., and Lenovo

Global Head Mounted Display MarketCoverage

HMD Type Insight and Forecast 2020-2027

  • Slide on HMD
  • Integrated HMD
  • Discrete HMD

Technology Insight and Forecast 2020-2027

  • AR Technology
  • VR Technology

Component Insight and Forecast 2020-2027

  • Processors and Memory
  • Displays
  • Lenses
  • Sensors
  • Controllers
  • Cameras
  • Cases and Connectors
  • Others

Product Type Insight and Forecast 2020-2027

  • Head-Mounted
  • Eyewear

Connectivity Insight and Forecast 2020-2027

  • Wired
  • Wireless

Application Insight and Forecast 2020-2027

  • Consumer
  • Commercial
  • Enterprise & Industry
  • Engineering & Design
  • Healthcare
  • Aerospace & Defense
  • Others

Geographical Segmentation

Head Mounted Display Market by Region

North America

  • By HMD Type
  • By Technology
  • By Component
  • By Product Type
  • By Connectivity
  • By Application
  • By Country – U.S., Canada, and Mexico

Europe

  • By HMD Type
  • By Technology
  • By Component
  • By Product Type
  • By Connectivity
  • By Application
  • By Country – Germany, U.K., France, Italy, Spain, Russia, and Rest of Europe

Asia-Pacific (APAC)

  • By HMD Type
  • By Technology
  • By Component
  • By Product Type
  • By Connectivity
  • By Application
  • By Country – China, Japan, India, South Korea, and Rest of Asia-Pacific

Rest of the World (RoW)

  • By HMD Type
  • By Technology
  • By Component
  • By Product Type
  • By Connectivity
  • By Application
  • By Country – Brazil, Saudi Arabia, South Africa, U.A.E., and Other Countries

 

 

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Global Market for Head Mounted Display Products is Anticipated to grow at a Significant Pace i.e., USD 38.1 Billion during the Forecast Period 2021-2027