What is the global market size of Head Mounted Displays Market?

Global Head Mounted Displays Market size was valued at USD 3.65 Billion in 2021 and is poised to grow from USD 5.33 Billion in 2022 to USD 110.02 Billion by 2030, at a CAGR of 46% during the forecast period (2023-2030).

Head Mounted Displays Market Size, Share, Growth Analysis, By Type(Slide-On Head Mounted Displays, Discrete Head Mounted Displays, Integrated Head Mounted Displays), By Technology(AR, VR), By Application(Consumer, Commercial, Enterprise, Industry), By Region - Industry Forecast 2024-2031

Q: Which region accounted for the largest share in Global Head Mounted Displays Market?

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.

Report ID: SQMIG45J2041 | Region: Global | Published Date: April, 2024
Pages: 157 | Tables: 95 | Figures: 76

Head Mounted Displays Market News

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.

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Head Mounted Displays Market size was valued at USD 3.65 Billion in 2019 and is poised to grow from USD 5.33 Billion in 2023 to USD 110.02 Billion by 2031, at a CAGR of 46% during the forecast period (2024-2031).

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 Corporation (Japan) ', 'Samsung Electronics Co., Ltd. (South Korea) ', 'HTC Corporation (Taiwan) ', 'Oculus VR (Facebook Technologies, LLC) (US)', 'Microsoft Corporation (US)', 'Google LLC (US)', 'Apple Inc. (US)', 'Vuzix Corporation (US)', 'Avegant Corporation (US)', 'Daqri LLC (US)', 'Kopin Corporation (US)', 'Epson America, Inc. (US)', 'Lenovo Group Limited (China)', 'Huawei Technologies Co., Ltd. (China)', 'LG Electronics Inc. (South Korea)', 'Pimax Technology (China)', 'Razer Inc. (Singapore)', 'Seiko Epson Corporation (Japan)', 'Sulon Technologies Inc. (Canada)', 'Zeiss Group (Germany)'

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 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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Head Mounted Displays Market Size, Share, Growth Analysis, By Type(Slide-On Head Mounted Displays, Discrete Head Mounted Displays, Integrated Head Mounted Displays), By Technology(AR, VR), By Application(Consumer, Commercial, Enterprise, Industry), By Region - Industry Forecast 2024-2031

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