Global Head Mounted Display Market

The head mounted displays market was valued at USD 5,000.0 Million in 2020, and it is expected to reach a value of USD 37,500.0 Million by 2027, at a CAGR of 40% over the forecast period (2020 - 2027).

Head Mounted displays are a set of goggles with extra components mounted on the head, such as storage, monitor, camera tracker, and headphones. Military, aerospace, research, gaming, virtual reality, and medical procedures are among some of the few end-user industries that demand HMDs. The key aspect driving the growth of the market includes a surge in key players' investments in the development of HMDs, greater acceptance of AR and VR technologies due to COVID-19, availability of low-cost HMDs, technological improvements, and growing digitalization across the globe.

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Top Players Company Profiles

Sony Corp. (Japan)
Google Inc. (US)
Microsoft Corp. (US)
Oculus VR (US)
HTC Corporation (Taiwan)
Seiko Epson Corporation (Japan)
Samsung Electronics Co. Ltd. (South Korea)
Lenovo Group Ltd. (China)
Magic Leap Inc. (US)
Vuzix (US)
Panasonic Corp. (Japan)
Xiaomi Corp. (China)

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Global Head Mounted Display Market Segmental Analysis

The global Head Mounted Displays market is segmented on the basis of type, technology and application. Based on the type, the market is segmented as Slide-On Head Mounted Displays, Discrete Head Mounted Displays, and Integrated Head Mounted Displays. Based on technology, the market is segmented as AR and VR. Based on the application, the market is segmented as Consumer, Commercial, Enterprise and Industry, Engineering Design, Aerospace Design, Healthcare, Education, and Others. Based on region it is categorized into: North America, Europe, Asia-Pacific, South America, and MEA.

Analysis by Technology

In 2021, VR technology segment of the market is projected to hold the most significant share in the market. The use of computer technology to create a simulated environment is known as virtual reality. Unlike traditional user interfaces, virtual reality immerses users in an experience, allowing them to interact with the 3D world rather than viewing a monitor screen in front of them. Technology has changed the world by simulating as many senses as possible, including vision, touch, hearing, and even smell; thus, this drives the segmental growth of the market.

Analysis by Application

In 2021, consumer segment of the market is projected to hold the most significant share in the market. Consumers majorly use these head mounted displays for gaming and entertainment purposes, which drives the segmental growth. The number of AR and VR gamers has increased dramatically around the world. The global user base of AR and VR games is predicted to grow to 216 million players by 2025, according to NewGenApps, a provider of Artificial Intelligence, Machine Learning, Big Data Analytics, and AR/VR solutions. Similarly, according to numbers given by the Entertainment Software Association in March of 2020, 29% of gamers in the United States had a VR system installed. The group also said that advancements in virtual and augmented reality are a major driver of the gaming industry's growth in the United States. Hence, this drives the growth of the market.

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