Global Head Mounted Display Market Size by Product Type (Head-mounted and Eyewear), Component (Processors and Memory, Displays, Lenses, Cameras, Sensors, Controllers, Cases and Connectors, and Others), Connectivity (Wired and Wireless), Technology (AR Technology and VR Technology), Application (Consumer, Commercial, Enterprise & Industry, Engineering & Design, Healthcare, Aerospace & Defense, Education, and Others), Regions, Segmentation and Projection till 2028
CAGR: 43.4%Current Market Size: USD 5.2 BillionFastest Growing Region: Europe
Largest Market: North AmericaProjection Time: 2021-2028Base Year: 2020
Global Head-Mounted Display Market- Market Overview
The global head-mounted display market is expected to grow from USD 5.2 Billion in 2020 to USD 92.7 Billion by 2028, at a CAGR of 43.4%during the Projection period 2021-2028. This growth of the head-mounted display market is significantly driven by an upsurge in the adoption of augmented reality (AR) and virtual reality (VR) technologies along with the rising investments in the development of head-mounted displays.
A head-mounted display or HMD is a computer display device that is worn on the head as part of the helmet. This system has a small screen display in front of each eye which effortlessly presents information in front of the eyes of a user. Display streams in images, data, and other information in front of each of the wearer's eyes. For instance, a number of HMDs such as HTC Vive or Oculus Rift have been displayed over both of the users' eyes. Most of the time, HMDs are multimedia or virtual reality device designed mainly for entertainment purposes. However, some models, have real-world applications, such as being used as a part of the heads-up display in the number of special weapon systems.
The innovative HMDs integrate motion sensors for determining movement and direction to deliver context-sensitive geographic information or as the interface to an immersive virtual reality application.
Request Sample:- Global head mounted display Market
Market Dynamics
Drivers:
- Upsurge in the adoption of augmented reality (AR) and virtual reality (VR) technologies
There is significant growth in the acceptance of AR and VR technologies. For instance, these technologies have become an essential part of the entertainment and gaming industry, along with emerging applications in several industries such as health care, education, and marketing. In addition to this, the introduction of social distancing norms during the COVID-19 pandemic has encouraged the adoption of digital tools, leading to the proliferation of AR & VR technologies. However, the majority of AR & VR devices are head-mounted displays; hence, an upsurge in the adoption of AR & VR technologies drives the growth of the head-mounted display market.
- Rising investments in the development of head-mounted displays
A rise in investments over the development of HMDs, along with their usage in a number of applications worldwide has been observed in past few years. Different organizations including Facebook Corporation, Qualcomm, Inc., Comcast Ventures, Intel Corporation, Alphabet, Inc., and Samsung Group are heavily investing in the HMD industry. These investments in the development of head-mounted displays are fueling the growth of the global market size.
Restraints:
- Lack of standardization in HMD design
Lack of standardization in the head-mounted display industry creates compatibility issues among the products from different sellers, affecting the user experiences. A number of HMDs and eyeglasses manufacturers are emphasizing making products more informative and augmenting user experience. However, due to the lack of standardization, different products in the industry have different quality and specifications, restraining the growth of the market.
Opportunities:
- The emerging trend of HMDs for video games
The demand for improving gaming experience has led to the high penetration of HMDs in video games. In addition, the spending across the video games sector has seen an upsurge owing to the covid-19 pandemic. Also, leading gaming companies are rapidly introducing AR and VR games. Further, more people are playing games, looking for easier ways to access games, and generating demand for immersive entertainment. The aforementioned factors have created lucrative growth opportunities for the application of head-mounted displays in the video gaming industry.
Challenges:
- Lack of awareness
The lack of awareness regarding a range of applications in stereoscopic imaging and potential hazards caused by large wearable displays has posed a number of challenges to the growth of the global head-mounted display market. The aforementioned factors may hamper demand for head-mounted displays in defense-based applications among others. This is one of the challenges for the growth of the market.
Segmentation Analysis
The global head-mounted display market has been segmented based on product type, component, connectivity, technology, application, and regions.
By Product Type
- The product type segment includes head-mounted and eyewear. The head-mounted segment led the head-mounted display market with a market share of around 63.4% in 2020. This is due to an increase in demand from the end-users to have compact and portable display devices. However, the eyewear segment is projected to witness the highest growth rate during the Projection period due to the usage of eyewear in a number of emerging applications, such as healthcare, industry and enterprise, and research & design.
By Component
- The component segment includes processors and memory, displays, lenses, cameras, sensors, controllers, cases and connectors, and others. The displays segment held the largest market share of 27.6% in 2020. Displays are the most important components of HMDs and their falling prices in the global market fuel growth of the segment. In addition to this, considerable growth in the employment of screens in different AR products has created the need for displays in the HMD industry, fueling the growth of the market.
By Connectivity
- The connectivity segment includes wired and wireless. The wired segment held the largest market share of 52.3% in 2020. This growth is attributed to the proliferation of tethered headsets that are commonly referred to as wired connectivity headsets and are connected to game consoles or PCs through cords. For instance, the significant popularity of tethered headsets such as HTC Vive, Oculus Rift, and PlayStation VR is being observed around the globe. However, the wireless segment is expected to grow at the highest growth rate during the Projection period.
By Technology
- The technology segment includes AR technology and VR technology. The virtual reality (VR) segment held the largest market share of 61.2% in 2020. The growth of this segment is mainly driven by rising product development to ensure an immersive experience for users by VR headset manufacturers. However, the augmented reality (AR) segment is projected to experience the highest CAGR during the Projection period due to the rising importance of AR Head-Mounted Display (HMD) or smart glasses in a number of industrial applications.
By Application
- The application segment includes consumer, commercial, enterprise & industry, engineering & design, healthcare, aerospace & defense, education, and others. The consumer segment held the largest market share of 23.2% in 2020. An increase in demand for head-mounted displays due to customer leisure purposes primarily drives the growth of the consumer segment. In addition to this, a number of factors such as increased awareness about AR and VR, growing smartphone users, better compatibility, and rising demand for entertainment services fuel the growth of the segment. However, the aerospace & defense segment is expected to witness the highest growth rate during the Projection period owing to the demand for helmet-mounted display systems in the global military and defense sector.
By Regional Analysis
The regions analyzed for the head-mounted display market include North America, Europe, South America, Asia Pacific, and the Middle East and Africa. The North American region dominated the Head Mounted Display market and held the 35.2% share of the market revenue in 2020.
- North America holds tremendous potential for head-mounted display production and demand. The number of industry verticals in this region such as military and defense, healthcare, and safety services is rapidly adopting head-mounted display systems. In addition to this, the region is seeing expanding demand for flexible, portable, and wearable computing devices along with the rising innovations and investments in HMDs by market players.
- The European region is likely to register significant growth during the Projection period. This is mainly due to the flourishing of the medical and healthcare sector. In addition to this, the region is seeing technological advancements with enhanced technological infrastructure, creating lucrative growth opportunities for the market.
Key Industry Players Analysis
Key market players are focusing on product launches
The key players are now concentrating on implementing strategies such as adopting new technology, product innovations, mergers & acquisitions, joint venture, alliances, and partnerships to improve their market position in the global Head Mounted Display industry.
For instance, in October 2020, Vuzix Corporation, a supplier of Smart Glasses and Augmented Reality (AR) technology & products entered into an agreement with its medical partner located in the United States, for building a customized head-mounted display system for assisted medical cancer surgery.
In November 2018, HTC Vive launched several enterprise-focused products. This launch comprises developer tools, a new standalone mobile VR headset, and a collaboration app that promises to connect with remote employees.
- Sony
- Microsoft
- Samsung
- Oculus
- HTC
- Seiko Epson
- Lenovo
- Magic Leap
- Vuzix
Latest Development
- October 2021, Magic Leap, one of the leading augmented reality (AR) companies revealed the second version of its headset, along with the $500m in new investment. The new product launch is intended primarily for business use and has a wider field of view, according to the company.
- October 2018, Samsung released a refresh of its Odyssey Windows Mixed Reality headset that promises to bring improved life-like & immersive experiences and true-to-life visuals, according to the company.
Report Metrics
|
Report Attribute |
Details |
|
Projection period |
2021-2028 |
|
Base year considered |
2020 |
|
CAGR (%) |
43.4% |
|
Market Size |
5.2 Billion in 2020 |
|
Projection unit |
Value (USD) |
|
Segments covered |
Product Type, Component, Connectivity, Technology, Application, and Regions |
|
Report Scope |
Revenue Projection, competitive landscape, company ranking, growth factors, and trends |
|
Companies covered |
Sony, Google, Microsoft, Samsung, Oculus, HTC, Seiko Epson, Lenovo, Magic Leap, and Vuzix among others. |
|
By Product Type |
|
|
By Component |
|
|
By Connectivity
|
|
|
By Technology |
|
|
By Application |
|
|
Regional scope |
|
Scope of the Report
Global Head Mounted Display Market by Product Type:
- Head-mounted
- Eyewear
Global Head Mounted Display Market by Component:
- Processors and Memory
- Displays
- Lenses
- Cameras
- Sensors
- Controllers
- Cases and Connectors
- Others
Global Head Mounted Display Market by Connectivity:
- Wired
- Wireless
Global Head Mounted Display Market by Technology:
- AR Technology
- VR Technology
Global Head Mounted Display Market by Application:
- Consumer
- Commercial
- Enterprise & Industry
- Engineering & Design
- Healthcare
- Aerospace & Defense
- Education
- Others
Global Head Mounted Display Market by Region:
- North America
- USA
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Russia
- Asia-Pacific
- Japan
- China
- India
- Korea
- Southeast Asia
- South America
- Brazil
- Peru
- Middle East and Africa
- UAE
- South Africa
- Saudi Arabia
Frequently Asked Questions
What is the market value of the head-mounted display Market in 2020?
The market value of the Head Mounted Display Market in 2020 is $ 5.2 Billion.
Which is the most influencing segment growing in the head-mounted display report?
Head-mounted segment is the most influencing segment in the Head Mounted Display market.
Which region has the highest market share in the head-mounted display Market?
North America held the major share in the market over the Projection period 2021- 2028.
Which are the Top players active in the head-mounted display market?
The leading market players active in the global Head Mounted Display market are Sony, Google, Microsoft, Samsung, Oculus, HTC, Seiko Epson, Lenovo, Magic Leap, Vuzix among others.
What are the segment considered in the global head-mounted display market?
Product Type, Component, Connectivity, Technology, Application, and Regions are the six segments of the report.
Does this report include the impact of COVID-19 on the head-mounted display market?
Yes, the market includes qualitative and quantitative insights for COVID-19 impact on the Head Mounted Display market.
What is the study period of this market?
The head-mounted display market is studied from 2020 - 2028.
Choose License Type
GreyViews is one of the leading providers of market intelligence products and services. We offer reports on over 10+ industries and update our collection daily which helps our clients to access database of expert market insights on global industries, companies, products, and trends.
