Global Head Mounted Displays Market

Global Head Mounted Displays Market Size, Share, Growth Analysis, By Type(Slide-On Head Mounted Displays, Discrete Head Mounted Displays), By Technology(AR, VR), By Application(Consumer, Commercial) - Industry Forecast 2022-2028


Report ID: SQMIG45J2041 | Region: Global | Published Date: November, 2022 | Pages: 157 | Tables: 95 | Figures: 69

Global Head Mounted Displays Market Insights

Global Head Mounted Displays Market was valued at USD 3.65 billion in 2021 and it is expected to reach at USD 77.7 billion by 2028, with CAGR of 46% over the forecast period (2022-2028).

Over the next seven years, the head-mounted display industry is anticipated to develop due to decreased microdisplay prices and strong demand for helmet-mounted displays across all application sectors. A promising growth potential for the mobile industry is anticipated to result from increasing demand for mobile-based AR apps for 3D scene assembly.

The development of portable wearable technology has stimulated an increase in innovation within the head-mounted display (HMD) market. With the development of lightweight screens, producers all around the world have begun to position HMD as a consumer good. By analyzing the precise placements of various components and communicating customisation to designers, people can take part in virtual car designing, giving purveyors a significant chance. The market is still in its formative stages.

For a few years, the expansion of the industry has been constrained by a lack of understanding of the various medical applications for stereoscopic imaging, especially in poor countries. Additionally, the development of the industry for defense-based applications is being hampered by a lack of knowledge regarding the potential dangers caused by obstructing line of sight, which is a result of huge wearable displays. Industry expansion is being hampered by a lack of standardization in components like orientation sensors. It is necessary to design standardized evaluation procedures for both whole systems and individual parts. In order to improve the market, simulator sickness related to general discomfort, eyestrain, perceptual constancy, dark focus, and effect of darkness needs to be addressed.

The global adoption of head mounted displays is a result of the rising popularity of augmented reality and virtual reality technology in consumer and corporate solutions. In the next few years, it is predicted that this aspect will fuel the expansion of the worldwide head mounted display market. In order to eliminate the requirement that a user be physically present in every area, advanced technologies like virtual reality and augmented reality are being adopted more frequently.

Market snapshot

Global Market Size

USD 3.65 billion

Largest Segment

Consumer

Fastest Growth

Commercial

Growth Rate

46% CAGR

Global Head Mounted Display Market, 2021-2027 ($ Mn)
Country Share for North America Region- 2021 (%)
Global Head Mounted Display Market Size By Application , 2021-2027 ($ Mn)
Global Head Mounted Display Market Size By Application , 2021-2027 (%)

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Global Head Mounted Displays Market Segmental Analysis

The global head mounted displays market is segmented on the basis of type, technology, application, and region. 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

Global Head Mounted Display Market By Application , 2021(%)

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Global Head Mounted Displays Market Regional Insights

Based on the geographical viewpoint, the global Head-Mounted Displays market is segmented into North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. In 2021, North American region is projected to hold the most substantial share of 28% in the market and grow at a fastest CAGR during the forecast period. The regional growth of the market is attributed to the heavy investments done by the market players in the region. The rapid adoption of new technologies by the consumers in the regions is another factor that contributes to the market growth.

During the forecast period, Asia Pacific is expected to capture a significant market share of the head-mounted display market. The increased adoption of AR and VR technologies in emerging markets such as India and China is driving market growth. Furthermore, the growing demand for a head-mounted display in the medical field for treatment and surgery is propelling the market forward. The increasing adoption of HMD technology in the educational sector in Europe is expected to boost the market. During the forecast period, the Rest of the World HMD market expands significantly. The increasing demand for HMD technology in South America, the Middle East, and Africa is driving market growth.

Global Head Mounted Display Market By Geography, 2021 - 2027
  • Largest
  • Fastest

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Global Head Mounted Displays Market Dynamics

Drivers

  • The major aspect that drives the growth of the market includes the growing popularity of head mounted displays across various industries. In video games, HMDs have a high penetration rate as they improve the gaming experience. PlayStation (PS) has increased the popularity of head-mounted displays. Head Mounted Displays project digital images, allowing for a 3D vision, which improves the quality of gaming by projecting visuals and game screens that look like real-world images.
  • The COVID-19 pandemic has resulted in a significant increase in video game spending. Many AR and VR games are being released by top-tier gaming firms amid the period. With the introduction of VR and 3D technology, the gaming industry has undergone a technological transformation.
  • There has also been increased popularity of head mounted displays in the military and defense sector. Head mounted displays are widely adopted for warfare simulations, battlefield visualizations, digital twins, tactical augmented reality, situational awareness, spatial orientation, weapons aiming, digital terrain, and other vital activities. Hence, this contributes to the growth of the market during the forecast period.

Restraint

  • Many HMD and eyeglass manufacturers are focusing on improving the user experience and making products more informative. As different products have different specifications and quality, lack of standardization causes compatibility issues between products from different sellers, which affects user experience. VR and AR HMDs require similar universal standards that allow developers to create applications that are open and interoperable across different headsets in order to achieve widespread enterprise and consumer adoption of HMDs. It becomes more complicated for mobile virtual reality, where different smartphones from different manufacturers are used, because users have different operating systems, screen standards, and other parameters. As a result, it becomes more difficult for developers to create VR apps, limiting market growth.

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Global Head Mounted Displays Market Competitive Landscape

The market is fragmented in nature. The prominent players operating in the market are constantly adopting various growth strategies in order to stay afloat in the market. Product launches, innovations, mergers and acquisitions, collaborations and partnerships, intensive R&D are some of the growth strategies that are adopted by these key players to thrive in the competitive market. The key market players are also constantly focused on R&D in order to supply industries with the most efficient and cost-effective solutions.

Top Players in the Global Head Mounted Displays Market

Recent Developments

  • In April 2021, Microsoft received a USD 22.0 billion contract from the US Army for the manufacturing of AR Gears. Under the terms of the contract, it would begin producing Integrated Augmentation Systems for the army for a span of ten years.
  • In March 2021, Sony announced its new VR controllers, which are distinct from the PS4's ball-on-a-stick controls. The controllers will also include adjustable triggers, haptic feedback, and finger touch recognition, among other feature.

Global Head Mounted Displays Key Market Trends

  • Micro-displays, for example, provide a wide field of view, a high-quality projected image, and compatibility with head-mounted displays. By incorporating micro-display technology into head mounted displays, HMDs become lightweight, smart, flexible, low latency, and simple to use. HMD manufacturers, such as Oculus VR, are focusing on reducing latency in their products. When connected to a smartphone, Recon Jet is a high-performance sportswear that displays performance metrics. The Sony HMZ-T3W wireless Personal 3D viewer is an example of an upgraded OLED Micro-display with twin OLED screens that support HD displays.
  • Smart glass is an example of an upgraded version of micro-display technology in HMD designs, making it lightweight, compact, and comfortable to wear. Advanced features on head-mounted displays include access to the mobile internet browser, voice commands, performance metrics and tracking, augmented reality, virtual surround sound mimic, and numerous connectivity options for interacting with other devices. As a result, the adoption of new technologies such as micro-display in the coming year will open up enormous opportunities for HMD manufacturers.

Global Head Mounted Displays Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.

According to our analysis, growing importance of augmented reality and virtual reality technologies in consumer and business solutions has resulted in widespread use of head-mounted displays around the world. This factor is expected to drive growth in the global head mounted display market in the coming years. The primary reason for the increased adoption of advanced technologies such as virtual reality and augmented reality is to eliminate the need for a user to be physically present at all times.

Report Metric Details
Market size value in 2021 USD 3.65 billion
Market size value in 2028 USD 77.7 billion
Growth Rate 46%
Base year 2021
Forecast period 2022-2028
Forecast Unit (Value) USD Billion
Segments covered
  • Type
    • Slide-On Head Mounted Displays, Discrete Head Mounted Displays, Integrated Head Mounted Displays
  • Technology
    • AR, VR
  • Application
    • Consumer, Commercial, Enterprise, Industry, Engineering & Design, Aerospace & Design, Healthcare, Education, Others
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
Customization scope

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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Global Head Mounted Displays Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Global Head Mounted Displays Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Global Head Mounted Displays Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Head Mounted Displays Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Head Mounted Displays Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Global Head Mounted Displays Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQ's

Global Head Mounted Displays Market was valued at USD 3.65 billion in 2021 and it is expected to reach at USD 77.7 billion by 2028, with CAGR of 46% over the forecast period (2022-2028).

The market is fragmented in nature. The prominent players operating in the market are constantly adopting various growth strategies in order to stay afloat in the market. Product launches, innovations, mergers and acquisitions, collaborations and partnerships, intensive R&D are some of the growth strategies that are adopted by these key players to thrive in the competitive market. The key market players are also constantly focused on R&D in order to supply industries with the most efficient and cost-effective solutions. '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)', 'STK Bio-ag (Philippines)'

The major aspect that drives the growth of the market includes the growing popularity of head mounted displays across various industries. In video games, HMDs have a high penetration rate as they improve the gaming experience. PlayStation (PS) has increased the popularity of head-mounted displays. Head Mounted Displays project digital images, allowing for a 3D vision, which improves the quality of gaming by projecting visuals and game screens that look like real-world images.

Micro-displays, for example, provide a wide field of view, a high-quality projected image, and compatibility with head-mounted displays. By incorporating micro-display technology into head mounted displays, HMDs become lightweight, smart, flexible, low latency, and simple to use. HMD manufacturers, such as Oculus VR, are focusing on reducing latency in their products. When connected to a smartphone, Recon Jet is a high-performance sportswear that displays performance metrics. The Sony HMZ-T3W wireless Personal 3D viewer is an example of an upgraded OLED Micro-display with twin OLED screens that support HD displays.

Based on the geographical viewpoint, the global Head-Mounted Displays market is segmented into North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. In 2021, North American region is projected to hold the most substantial share of 28% in the market and grow at a fastest CAGR during the forecast period. The regional growth of the market is attributed to the heavy investments done by the market players in the region. The rapid adoption of new technologies by the consumers in the regions is another factor that contributes to the market growth.

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