Market Overview
The Global Head Mounted Display Market is expected to achieve a market valuation of
USD 20.5 billion in 2023, with a projected
CAGR of 28.2%, it is further anticipated to reach a market value of
USD 191.6 billion in the forthcoming years from 2023 to 2032.
The Global Head Mounted Display Market refers to an international industry dedicated to the manufacture and distribution of head-mounted displays. It is a type of wearable technology that allows the user to view
digital information, virtual reality (VR), augmented reality (AR) & mixed reality (MR) by wearing the device on their head. Head Mounted Display are commonly worn similarly to headgear or eyewear and provide a visual interface that project the digital content into the user's field of vision.
Market Dynamic
The market dynamics of the global head mounted display Market encompasses various factors that influence its growth, advancement and overall performance. The rapid technological advancements in optics and sensors are positively affecting the quality of the head-mounted display market as they are essential components that are used in the manufacturing process of head-mounted display products. These technical and technological achievements offer higher resolution which improves the user experience as it makes the visuals more realistic and precise.
This market finds its place in different industries ranging from entertainment, and gaming to defense and medicine. The rise of virtual reality in the gaming industry is a major driver behind the growth of this market. As the technology matures and production increases the cost of Head-mounted displays is decreasing making it accessible to the consumers. The biggest restraints this market faces are safety, privacy and data protection, as several countries have set a standard & guidelines based on which many major companies are doing their best to prevent any data breaches and unauthorized use of user data but this topic is still under debate.
Research Scope and Analysis
By Product
The Head Mounted Display Market is categorized by product type into wearable glasses & helmet-mounted display, and foresees that the helmet-mounted display segment is anticipated to account for around 63.1% of the global market share by the end of 2023 and is projected to show significant growth in the upcoming future. The popularity of the helmet-mounted display in the market is because it can use liquid crystal display (LCD) and organic light-emitting diodes (OLED) and
microdisplay, these displays can be monocular (one eye) or Binocular (both eyes) to create 3D & stereoscopic images. The helmet-mounted display also includes an integrated audio system which provides an immersive auditory experience.
By Technology
In technology segment, the virtual reality segment lead the market with a substantial share in 2023 and is anticipated to maintain its dominance throughout the forecast period. Currently, consumers are constantly engaging with some key industries like gaming, entertainment, education and training & simulation. The reason behind the popularity of virtual reality is that it makes the user feel like they are physically present in the virtual environment, so these feelings captivate and it keeps them engaged.
Virtual reality is also used in training and education as it offers a safe & realistic environment for training & learning, which is further expected to drive a significant growth in the demand for Virtual reality technology. Currently, virtual reality has been also used by architects and designers as the technology helps them to get a better understanding of the layout of the project.
By Application
In application segment, the training and simulation segment dominates the market, accounting for a significant revenue of the overall global head-mounted market. In the context of the global head mounted display market, the training & simulation segment defines the use of devices to create realistic environments for training. This segment is closely associated with military training, medical training, aviation training, emergency response training, gaming & entertainment.
These training simulations help the individual to practice and refine their skill set, ultimately improving performance and safety in their field of work. In the
medical field, the simulation is used to practice the surgical procedure before an actual operation. This helps the surgeons improve their skills, reduce errors and ensure patient safety.
By End User
Based on end users segment, the global Head-Mounted Display Market is segmented into defense and consumers. Within this segmentation, the defense sector commands the largest portion of the market and is projected to show rapid growth in the forthcoming years. In the defense sector, head-mounted displays are used in military training, operation stimulations and to improve the overall effectiveness of the military personnel. The stimulative training helps the soldiers to prepare for various combat operations & mission-specific terrain. This hands-on training helps the soldiers to improve their reaction speed in actual combat. Training themselves in simulations & controlled environments reduces the risk of any injury during operations.
The Head Mounted Display Market Report is segmented on the basis of the following:
By Product
- Helmet Mounted Display
- Wearable Glasses
By Technology
- Virtual Reality
- Augmented reality
By Application
- Training & Simulation
- Video Gaming & Entertainment
- Imaging
- Security
- Tracking
- Others
By End-User
Regional Analysis
North American region asserted its dominance in the Global Head-Mounted Display Market, and it is expected to hold its leading position, as it is holding an estimated 37.5% market share by the end of 2023 and is projected to grow further in the forthcoming year of 2023 to 2032. North America's strong presence can be attributed to rapid technical advancements, mature customers and an advanced ecosystem for content developers like game developers, content creators and appliance developers.
Major companies of this region often collaborate and form an acquisition with other technological giants, research institutes & healthcare centers to study & develop tailored Head-Mounted Display solutions according to the industry's requirements. North America has very clear environmental policies and regulatory framework, which make products manufactured in this region more reliable, user-friendly as well and environment-friendly.
By Region
North America
Europe
- Germany
- The U.K.
- France
- Italy
- Russia
- Spain
- Benelux
- Nordic
- Rest of Europe
Asia-Pacific
- China
- Japan
- South Korea
- India
- ANZ
- ASEAN
- Rest of Asia-Pacific
Latin America
- Brazil
- Mexico
- Argentina
- Colombia
- Rest of Latin America
Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Israel
- Egypt
- Rest of MEA
Competitive Landscape
The competitive landscape of the Global Head-Mounted Display market is dynamic, as it seeing recent developments, advancements in technology and shifts in consumer behaviour. In this market, major companies compete with each other on factors like display quality, price range of products, customer support system and tracking technology. The major players in the global head mounted display market are experiencing the responsibility of delivering innovative solutions to meet the demand of evolving technologies, switching business practices & customer requirements. The current market landscape is experiencing strong competition among key players as they look to achieve a competitive edge over one another.
They are trying to improve their market position by using organic and inorganic market strategies. Organic strategies are done by research and development while inorganic strategies are concluded by strategic moves like mergers, partnerships, & acquisitions. The key players in the global head mounted display market are Epson, Google LLC, BAE Systems, HTC Corporation, Lynx, Meta Company, Microsoft, Optinvent, Panasonic, Samsung Electronics, Sony, Ultralead, Beyeonics Ltd. And other key companies.
Some of the prominent players in the Global Head Mounted Display Market are:
- Epson
- Google LLC
- BAE Systems
- HTC Corporation
- Lynx
- Meta Company
- Microsoft
- Optinvent
- Panasonic
- Samsung Electronics
- Sony
- Ultralead
- Beyeonics Ltd.
- Other Key Players
COVID-19 Pandemic & Recession: Impact on the Global Head-Mounted Display Market:
The COVID-19 pandemic and economic recession had a notable impact on the Global Head-Mounted Display Market. The pandemic disrupted the supply chain and availability of raw materials affecting the manufacturing and supply timeline of head-mounted Display components. The reduced consumer spending led to a decrease in demand for the Head-Mounted Display. However, the pandemic accelerated the adoption of head-mounted displays in industries like healthcare, defense and entertainment. Despite the setbacks this market faced in the starting, the crisis highlighted its usefulness in many sectors, and the ongoing research and development of the products aim to make the Head-Mounted Display Technology more accessible and user-friendly.
Report Details
| Report Characteristics |
| Market Size (2023) |
USD 20.5 Bn |
| Forecast Value (2032) |
USD 191.6 Bn |
| CAGR (2023-2032) |
28.2% |
| Historical Data |
2017 - 2022 |
| Forecast Data |
2023 - 2032 |
| Base Year |
2022 |
| Estimate Year |
2023 |
| Report Coverage |
Market Revenue Estimation, Market Dynamics, Competitive Landscape, Growth Factors and etc. |
| Segments Covered |
By Product (Helmet Mounted Display, Wearable
Glasses), By Technology (Virtual Reality, Augmented
reality), By Application (Training & Simulation, Video
Gaming & Entertainment, Imaging, Security, Tracking
and Others), By End-User (Defense, Consumer) |
| Regional Coverage |
North America – The US and Canada; Europe – Germany, The UK, France, Russia, Spain, Italy, Benelux, Nordic, & Rest of Europe; Asia- Pacific– China, Japan, South Korea, India, ANZ, ASEAN, Rest of APAC; Latin America – Brazil, Mexico, Argentina, Colombia, Rest of Latin America; Middle East & Africa – Saudi Arabia, UAE, South Africa, Turkey, Egypt, Israel, & Rest of MEA
|
| Prominent Players |
Epson, Google LLC, BAE Systems, HTC Corporation,
Lynx, Meta Company, Microsoft, Optinvent,
Panasonic, Samsung Electronics, Sony, Ultralead,
Beyeonics Ltd., and Other Key Players |
| Purchase Options |
We have three licenses to opt for: Single User License (Limited to 1 user), Multi-User License (Up to 5 Users), and Corporate Use License (Unlimited User) along with free report customization equivalent to 0 analyst working days, 3 analysts working days and 5 analysts working days respectively. |
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