Global Head Mounted Display Market Size, Share and Top Players 2028
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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