Head Mounted Display Market
Head Mounted Display Market (Helmet Mounted Display, Wearable Computing Glasses) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2019 - 2027
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Head Mounted Display Market - Snapshot
Head mounted displays (HMDs) refer to projection technology or small displays that are incorporated mounted on a hat or helmet or into eyeglasses. Heads-up displays refer to a type of head-mounted displays that do not obstruct the vision of the user yet it superimposes the image on the real world view of the user. The global head mounted display market is expected to gather momentum from the growing prominence of the technology across various end use sectors.
Some of the head mounted displays integrate motion sensors to ascertain movement and direction or as the platform for an application of immersive virtual reality.
Widen Scope of Application to Pave Way for Lucrative Market Growth
Increasing prominence of augmented reality and virtual reality technologies in consumer and business solutions has led to the widespread adoption of head mounted displays all over the world. This factor is estimated to propel growth of the global head mounted display market in the years to come. The main reason for the increased adoption of advanced technologies like virtual reality and augmented reality is to do away with the need for a user to be physically present at all environments. A case in point is 3D interpretation of the below-mentioned products
- patient images
- product designs
- factory layouts
It assists in the remote monitoring and attendance (as and when needed) of people and facilities in real time.
The augmented reality technology comes with a lot of flexibilities, which make it a leader in the enterprise application sector. This adds to its increased adoption over the long term. Both augmented reality and virtual reality technologies are estimated to drive the global head mounted display market as it serves as a new computing platform.
Head mounted displays are usually utilized for the entertainment and gaming purposes in consumer application. Increased potential of augmented reality in head mounted displays for use in various commercial applications like product promotions and advertising are further likely to open up new avenues of growth in the years to come.
Head Mounted Display Market in Brief
- The global Head Mounted Display market registered a CAGR of 22.3%% between 2019 and 2027. The market is projected to accelerate the growth of HMD market due to increase in demand for light-weight portable computing devices coupled with growing demand from consumer market segment. In addition to it, increasing demand from consumer market segment is mainly owing to advancements in display technologies, offering superior capabilities such as 3D viewing and high resolution to the end-users.
- Beside it, regulated demand from defense services and increasing use in medical practices is expected to have positive impact on the market revenue growth over the forecasted period.
- In the next few years, HMDs are expected to find increasing use in medical practices for different types of surgeries and dentistry practices. The use of HMDs in automotive prototyping i.e. virtual designing of a car and cloud computing is expected to open new possibilities for the HMD market.
- Helmet mounted displays was the largest product segment, accounting for around 66% of the overall market revenue in 2017. However, wearable glasses segment is expected to surpass the helmet mounted display market over the forecast period. This is mainly driven by the inclination of users towards light-weight head-worn display devices
- Moreover, the global Head Mounted Display market is expected to reach US$ 46,530.7 Mn by 2027 from US$ 9,275.4 Mn in 2019.
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Head Mounted Display Market - Definition
- The Head Mounted Display market report provides analysis of the market for the period 2019 – 2027, wherein 2018 is the base year and 2019 to 2027 is the forecast period. Data for 2017 has been included as historical information.
- The study on the Head Mounted Display market would help clients in understanding the adoption analysis of head mounted display among different end- users.
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North America Head Mounted Display Market – Snapshot
North America was the largest head mounted display market in 2018, accounting for over 1/3rd of the global market revenue. The demand in the region can be attributed to growing inclination for portable and wearable computing devices, especially in end-use verticals including defense, healthcare, and safety services. Furthermore, expanding application base of HMDs has enabled manufacturers in the region to invest heavily in R&D activities, thus improving the scope of the market.
Market Dynamics - Head Mounted Display Market
Key Growth Drivers of the Head Mounted Display Market
- Increasing Demand for Light-Weight HMDs To Expand Application Base
The demand for light-weight, portable and wearable computing devices such as HMDs and wearable wrist computers are growing exponentially. This rise in demand is mainly due to characteristics like compactness and portability which allows users to be mobile while simultaneously availing the advantages of computing power. Since human beings are not used to wearing heavy devices, HMD manufacturers have come up with light-weight HMDs. Initially, HMDs were developed solely for defense applications. However, with the introduction of light-weight HMDs, several manufacturers are also now positioning HMDs as a consumer product.
- Regulated Demand from Defense Services
Defense services comprising military, air force, and navy are currently the largest contributor to the global HMD market revenue. In 2013, defense services accounted for around three-fourth of the global HMD market revenue. HMDs are increasingly used by defense services for tracking, training and simulation, and security purpose. For instance, HMDs were recently employed by the U.S. Army Flight School for their training modules based on simulation. With advancements in technology, head mounted displays, over the years have evolved, delivering superior capabilities such as night vision, superior target tracking, and significant improvements in weight, flexibility, cost, simplicity, and optical performance.
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Key Challenges Faced by Head Mounted Display Market Players
- Design issues is a major restraint to the Head Mounted Display market, especially helmet mounted display systems. In addition to it, some of these issues such as helmet considerations, symbol stabilization, adequate field-of-view with respect to resolution provided are the factors hampering the head mounted display market.
- Lack of Awareness is a growing threat around the globe about its use and the capabilities of HMDs is low, especially in under developed and developing economies
A new study on the global head mounted display market was published by Transparency Market Research (TMR). It presents a wealth of information on the key market dynamics including the drivers, market trends, and challenges, as well as the structure of the head mounted display market. TMR’s study offers valuable information about the head mounted display market, to illustrate how growth will discern during the forecast period 2019–2027.
Key indicators of market growth, which include value chain as well as supply chain analysis, and Compound Annual Growth Rate (CAGR), are elucidated in TMR’s study in a comprehensive manner. This data can help readers interpret the quantitative growth aspects of the head mounted display market during the forecast period.
An extensive analysis on leading market players’ business strategies is featured in TMR’s study on the head mounted display market. This can help readers understand principal factors to foresee growth in the head mounted display market. In this study, readers can also find specific data on the qualitative and quantitative growth avenues for the head mounted display market, which will guide market players in making apt decisions in the future.
Key Questions Answered in TMR’s Head mounted display Market Study
- What is the scope of growth of head mounted display market companies through offline business sales?
- What will be the Y-o-Y growth of the head mounted display market between 2019 and 2027?
- What is the influence of the changing trends in technologies on the head mounted display market?
- Which factors will impede the growth of the head mounted display market during the forecast period?
- Which are the leading companies in the global head mounted display market?
A unique research methodology is utilized by TMR to conduct comprehensive research on the growth of the head mounted display market, and arrive at conclusions on the future growth prospects of the market. This research methodology is a combination of primary and secondary research, which helps analysts warrant the accuracy and reliability of the drawn conclusions.
Secondary resources referred to by analysts during the production of the head mounted display market report include statistics from company annual reports, SEC filings, company websites, World Bank database, investor presentations, regulatory databases, government publications, and industry white papers. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, and market intelligence managers, who contributed to the production of TMR’s study on the head mounted display market, as a primary resource.
These primary and secondary resources provided exclusive information during the interviews, which serves as a validation from head mounted display market industry leaders. Access to an extensive internal repository and external proprietary databases allows for this report to address specific details and questions about the head mounted display market with accuracy. The study also uses a top-down approach to assess the numbers for each segment, and a bottom-up approach to counter-validate them. This has helped in making TMR’s estimates on the future prospects of the head mounted display market more reliable and accurate.
Segmentation of the head mounted display market
TMR’s study on the head mounted display market includes information bifurcated into four sections ? by component, by Product type, by application, by end-use, and by region. Changing industry trends and other crucial market dynamics associated with these sections of the head mounted display market are discussed in detail.