Head Mounted Display Market Insights
The global head mounted display market is likely to witness enormous growth. Increasing military expenditures worldwide would drive market growth. Market Research Future (MRFR) asserts that the global head mounted display market is poised to escalate from USD 5.8 BN in 2022 to USD 203.7 BN by 2032, with a 48.50% CAGR throughout the assessment period (2023-2032).
Greater acceptance of AR & VR technologies, developments in HMDs by key companies, and availability of affordable HMDs are key driving forces. Besides, technological developments and rapid digitalization boost the head mounted display market size. Moreover, the increasing emphasis on in-flight safety and advancements in pilot assistance technologies escalate the head mounted display market value.
Advancements in technology led by the increasing demand for safety technologies are some of the major tailwinds pushing the head mounted display market value revenues. Improvements in technologies such as artificial intelligence, augmented reality, and virtual reality substantiate the market growth.
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Major Players
Leading head mounted display market players are
- Sony Corporation,
- Alphabet Inc.,
- SAMSUNG,
- BAE Systems.,
- Microsoft Corporation,
- Elbit Systems Ltd.,
- HTC Corporation,
- FUJITSU,
- Huawei Technologies Co. Ltd.,
- Optinvent SA,
- LG Electronics,
- Collins Aerospace,
- Thales Group,
- Seiko Epson Corporation,
- Avegant Corp.,
- Magic Leap Inc.,
- FOVE Inc.,
- Meta View Inc.,
- Kopin Corporation, and
- CINOPTICS, among others.
Global Head Mounted Display Market - Segments
The market report is segmented into product types, components, connectivity, technologies, end-uses, and regions. The product type segment is sub-segmented into head mounted and eyewear. The component segment is sub-segmented into processor & memory, controller, sensor, camera, display, lens, case & connector, goggles, head trackers, computing, battery, projectors, and accessories.
The connectivity segment is sub-segmented into wired and wireless. The technology segment is sub-segmented into artificial intelligence, augmented reality, and virtual reality. The end-use segment is sub-segmented into consumers, commercial, enterprise & industry, engineering & design, military, aerospace, medical, education, sports, fashion, and journalism. By region, the head mounted display market is segmented into the Americas, Europe, Asia-Pacific, Middle East & Africa, and rest-of-the-world.
Global Head Mounted Display Market - Regional Analysis
North America dominates the global head mounted display market. The defense sector in the region perceives the high expenditures and adoption of advanced technologies. Moreover, huge government spending on advanced military tactical equipment supports regional market growth. With the high concentration of prominent market players and government support to develop advanced technology for military applications, the US accounts for the largest head mounted display market share.
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Global Head Mounted Display Market - Competitive Analysis
The highly competitive head mounted display market appears fragmented, characterized by the presence of several major well-established players. These players incorporate strategic initiatives such as collaboration, acquisition, partnership, technology launch, and expansion to maintain their positions in this market by gaining a competitive advantage. Strategic alliances between these players support their expansion plans.
Industry/Innovation/Related News:
April 26, 2023 --- Vision Products, a leading head mounted display maker, demonstrated its SA-62/S HMD and DVE HMD at the Army Aviation Summit in Nashville, TN. The company designs head mounted displays specially for military aviation. The SA-62/S HMD features high-resolution (1920 x 1200) and eMagin color OLED microdisplays providing extremely sharp images and a 62-degree wide diagonal view field. The innovative free-form prism eyepiece design of this HMD help minimize peripheral obscuration by providing users with an unobstructed view of the real world.
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