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The head-mounted display (HMD) is a set of technologically advanced goggles. In the head-mounted display, several accessories are included, such as controller, sensor, and camera. These devices are portable; therefore, HMD display is majorly adopted in the defense services, gaming sector for virtual reality, and medical practices. The reduced microdisplay pricing, along with high demand for helmet-mounted displays, is expected to drive the market.
The factors expected to drive the market are increasing investments by major key players. Moreover, increased adoption of augmented reality ( AR )and virtual reality (VR ) technologies are anticipated to boost the market. The increasing demand for lightweight head-mounted display and portable devices are the upcoming opportunities for the market. However, low awareness of HMDs is affecting the market growth.
Key Market Driver -
• Availability of Low-Cost HMDs
Key Market Restraint -
• Lack of Standardization in Components are Hampering the Market Growth
By product, the market is segmented into head-mounted and eyewear. Based on the component, the market is segmented into the processor and memory, controller, sensor, camera, and display. Based on the connectivity, the market is categorized into wired and wireless. Based on technology, the market is segmented into AR and VR. Based on the application, the market is classified into the consumer, commercial, enterprise & industry, engineering & design, military, and medical. From a geographical standpoint, the market categorized into North America, Europe, Asia Pacific, and the Rest of the World.
Major key players that are present in the head-mounted display market are BAE Systems, inc. (The U.K.), Collins Aerospace, a United Technologies company (The U.S.), Google Inc.( The U.S.), HTC Corporation (Taiwan), Kopin Corporation, Inc. (The U.S.), Microsoft Corporation (The U.S.), Recon Instruments, Inc. (Canada), Samsung Electronics Co., LTD. ( South Korea), Seiko Epson Corporation ( Japan), Novatel Inc. (Canada), Thales Defense & Security, Inc. (The U.S.), and among others.
The head-mounted display market is analyzed across four major regions North America, Europe, Asia Pacific, and the Rest of the World. At present, North America is anticipated to steer the market during the forecast period. This growth is attributed to the presence of key players, which include Collins Aerospace, a United Technologies company, Google Inc., Kopin Corporation, Inc., and Microsoft Corporation.
The Asia Pacific estimated to capture a significant market share of the head-mounted display during the forecast period. This market growth is owing to increased adoption of AR and VR Technologies from emerging nations such as India and China. Furthermore, the increasing demand for a head-mounted display in the medical field for treatment and surgery are helping to grow the market. In Europe, the rising adoption of HMD technology in the educational sector is projected to boost the market. The Rest of the World registers significant growth in the HMD market during the forecast period. The market growth is attributed to the increasing demand for HMD technology in South America and Middle East & Africa.
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