Head Mounted Display Market Analysis

Global Head Mounted Display Market Overview

Head Mounted Display Market Size was valued at USD 5.8 Billion in 2022. The Head Mounted Display market is projected to grow from USD 8.6 Billion in 2023 to USD 203.7 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 48.50% during the forecast period (2023 - 2032). Due to COVID-19's greater acceptance of AR and VR technologies, the creation of HMDs by key companies, the availability of affordable HMDs, technological developments, and rapid digitalization are the key market drivers enhancing the market growth.

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Head Mounted Display Market Trends

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  Surge in investments by major players in development of HMDs is driving the market growth

  
  

The amount of money being put into developing HMDs and using them in different applications around the world has significantly increased. Huge sums of money have been invested in the HMD industry, and investors have been eager to fund businesses whose innovations and goods have recently been validated.

The HMD market is receiving significant investment from firms including Facebook Corporation, Intel Corporation, Qualcomm, Inc., Alphabet, Inc., Comcast Ventures, and Samsung Group. Additionally, a number of research organizations are investigating the AR application market for a range of goods and uses. Governments, commercial businesses, and venture capitalists all contribute to the funding of research institutes. Due to its advantages, a variety of industries are adopting augmented reality, including consumer electronics, aerospace & military, healthcare, retail, and advertising.

In 2017, Boeing unveiled a brand-new arrangement called HorizonX. Zunum Aero and Upskill, two significant providers of enterprise software for industrial AR devices, would be the initial investments. The Japanese smartphone service provider NTT DoCoMo gave Magic Leap USD 280 million in April 2019. The partnership's goal is to connect Magic Leap's augmented reality platform with NTT's 5G infrastructure. Niantic received USD 245 million in January 2019 from IVP, a venture capital firm. The financing is intended to help the Pokémon Go developer innovate, create cutting-edge AR solutions, and increase the range of games it offers. Thus, driving the head mounted display market revenue.

Head Mounted Display Market Segment Insights

Head Mounted Display Technology Insights

The Head Mounted Display Market segmentation, based on Technology, includes augmented reality and virtual reality. The virtual reality category dominated the market. Users of VR technologies get a lifelike virtual image complete with sound and other senses. Users feel more physically present in their environment thanks to this. Developers have been inspired to advance VR head-mounted display gaming technology as a result of the exponential expansion of VR gaming technology globally.

Head Mounted Display End Use Insights

The Head Mounted Display Market segmentation, based on End Use includes consumer, commercial, enterprise and industry, engineering and design, military, defense, aerospace, medical, education, sports, fashion, journalism. Military is expected to dominate the market in 2022 owing to its high adoption.

Head Mounted Display Product Type Insights

The Head Mounted Display Market segmentation, based on product type includes head-mounted and eyewear. As the need for AR applications rises, the market for eyewear category is anticipated to expand at a faster CAGR. The market for eyewear HMDs is anticipated to grow as eyewear is being used in a variety of applications, including business and industry, healthcare, and research and design. With the increasing uptake of cutting-edge technologies, eyewear goods are also anticipated to be utilized in consumer applications.

Head Mounted Display Component Insights

The Head Mounted Display Market segmentation, based on component includes Processor and Memory, Controller, Sensor, Camera, Display, Lens, Case and Connector, Goggles, Head Tracker, Computing, Battery, Pico Projectors Technology, Accessories. Display is expected to dominate the market in 2022 owing to its decreasing costs.

Head Mounted Display Connectivity Insights

The Head Mounted Display Market segmentation, based on connectivity includes wired and wireless. The wireless category held the largest share. Tethered headsets are sometimes known as headsets with wireless connectivity. Tethered headsets are wireless to computers or gaming consoles. Oculus Rift, HTC Vive, and PlayStation VR are a few of the physically attached wired headsets. The size and cost of tethered headsets are high. Additionally, they frequently combine with outside cameras to more precisely track the user's head.

Figure 1: Head Mounted Display Market, by Connectivity, 2022 & 2032 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Head Mounted Display Application Insights

The Head Mounted Display Market segmentation, based on application includes Security, Training and Simulation, Tracking, Imaging. Security is expected to dominate the market in 2022 owing high demand.

Head Mounted Display Type Insights

The Head Mounted Display Market segmentation, based on type includes Discrete, Slide-On, Integrated. Slide-on is expected to dominate the market in 2022 owing to its advantageous features.

Head Mounted Display Regional Insights

By Region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. North America is the leading region for HMDs. The big US businesses' investments have driven the market expansion in this area. One of the factors influencing the growth of the North American market is the adoption of new technologies and the presence of large corporations. Many businesses across North America are making investments in HMDs. There have been fatalities, losses of life and means of subsistence due to the spread of COVID-19 across the Americas. Further, the U.S. head mounted displays market held the largest market share, and the Canada head mounted displays market was the fastest growing market in the European region.

Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2: HEAD MOUNTED DISPLAY MARKET SHARE BY REGION 2022 (%)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

During the projection period, the Asia Pacific head mounted displays market is anticipated to have a sizable market share. This market expansion might be attributed to growing countries like China and India using AR and VR technologies more frequently. The need for head-mounted displays in the medical industry for treatment and surgery is also boosting the market. Moreover, China’s head mounted displays market held the largest market share, and the Indian head mounted displays market was the fastest growing market in the Asia-Pacific region.

The market in Europe head mounted displays market is anticipated to grow as a result of the increasing use of HMD technology in the educational field. Throughout the anticipated period, the HMD market in the Rest of the World experiences tremendous growth. The rising demand for HMD technology in South America, the Middle East, and Africa is said to be the cause of the market expansion. Further, the German head mounted displays market held the largest market share, and the U.K. head mounted displays market was the fastest growing market in the European region.

Head Mounted Display Key Market Players & Competitive Insights

Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Head Mounted Display market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Head Mounted Display industry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global Head Mounted Display industry to benefit clients and increase the market sector. In recent years, the Head Mounted Display industry has offered some of the most significant advantages to medicine. Major players in the Head Mounted Display market, including Alphabet Inc., Sony Corporation, SAMSUNG, Microsoft Corporation, BAE Systems., Elbit Systems Ltd., FUJITSU, HTC Corporation, Huawei Technologies Co. Ltd., LG Electronics, Optinvent SA, Collins Aerospace., Seiko Epson Corporation., Thales Group, Avegant Corp., FOVE Inc., Magic Leap Inc., Meta View Inc., CINOPTICS, and Kopin Corporation.

Software development, licensing, and support are all services provided by Microsoft Corp. (Microsoft). The company provides a wide variety of operating systems, server applications, cross-device productivity tools, business solution tools, desktop and server administration tools, video games, and training and certification services. Additionally, it creates, produces, and markets hardware items like PCs, tablets, game consoles, and other sophisticated gadgets. The company offers a wide range of services, such as consultancy, cloud-based solutions, and solution support. Through original equipment manufacturers, distributors, resellers, online marketplaces, Microsoft stores, and other partner channels, Microsoft promotes, distributes, and sells its products. The company has operations throughout the Middle East, Africa, the Americas, Europe, and Asia-Pacific. The US city of Redmond, Washington, is where Microsoft is based.

Electronics, semiconductors, medical equipment, tools, and devices are all produced by Sony Group Corp. (Sony). Televisions, cell phones, cameras, music systems, game consoles, software, semiconductors, batteries, and other electronic components are among the company's goods. In addition to running television and digital networks, Sony creates, acquires, and distributes movie pictures, television shows, and recorded music. Along with life and non-life insurance, it also offers banking and financial services. The business advertises its goods through distributors, sales divisions, and online direct sales. It sells goods under the brands Airpeak, Sony, PlayStation, Walkman, Blu-ray, Cyber-shot, Bravia, Exmor, and Experia.

Key Companies in the Head Mounted Display market include

• Alphabet Inc.


• Sony Corporation


• SAMSUNG


• Microsoft Corporation


• BAE Systems


• Elbit Systems Ltd.


• FUJITSU


• HTC Corporation


• Huawei Technologies Co. Ltd.


• LG Electronics


• Optinvent SA


• Collins Aerospace.


• Seiko Epson Corporation.


• Thales Group


• Avegant Corp.


• FOVE Inc.


• Magic Leap Inc.


• Meta View Inc.


• CINOPTICS


• Kopin Corporation

Head Mounted Display Industry Developments

February 2021 A Technical Cooperation Agreement (TCA) was signed by Elbit Systems for a helmet-mounted display system. The Indian Navy and other rotary wing platforms of the Armed Forces will use the Helmet Mounted Display system that BEL will manufacture and integrate.

October 2019 A contract for the F-16 helmet-mounted integrated targeting system worth USD 8.5 million has been granted to the U.S. Air Force and Thales Defense and Security Inc.

September 2019 A contract worth USD 352 million has been given to Lockheed Martin Corporation and The Defense Department (The U.S.) to provide third-generation helmet-mounted displays for the cutting-edge F-35 combat aircraft.

Head Mounted Display Market Segmentation

Head Mounted Display Technology Outlook

• Augmented Reality


• Virtual Reality

Head Mounted Display End-use Outlook

• Consumer


• Commercial


• Enterprise and Industry


• Engineering and Design


• Military


• Defense


• Aerospace


• Medical


• Education


• Sports


• Fashion


• Journalism

Head Mounted Display Product Type Outlook

• Head Mounted


• Eyewear

Head Mounted Display Component Outlook

• Processor and Memory


• Controller


• Sensor


• Camera


• Display


• Lens


• Case and Connector


• Goggles


• Head Tracker


• Computing


• Battery


• Pico Projectors Technology


• Accessories

Head Mounted Display Connectivity Outlook

• Wired


• Wireless

Head Mounted Display Application Outlook

• Security


• Training and Simulation


• Tracking


• Imaging

Head Mounted Display Type Outlook

• Discrete


• Slide-On


• Integrated

Head Mounted Display Regional Outlook

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  North America

  
  
  
  
  • US
  
  
  • Canada
  
  
  
  


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  Europe

  
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


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  Asia-Pacific

  
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  


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  Rest of the World

  
  
  
  
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    Middle East

    
    
  
  
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    Africa

    
    
  
  
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    Latin America