The global head-mounted display market size is expected to gain momentum backed by the increasing adoption of virtual reality (VR) and the growing number of gamers that is propelling the demand for innovative head-mounted display devices globally. This information is published by Fortune Business Insights, in its upcoming report, titled, “Head-Mounted Display Market Size, Share & Industry Analysis, By Product (Head Mounted, Eyewear), By Component (Processor and Memory, Controller, Sensor, Camera, Display), By Connectivity (Wired, Wireless), By Technology (AR, VR), By Application (Consumer, Commercial, Enterprise & Industry, Engineering & Design, Military, Medical) and Regional Forecast, 2022-2029.”
A head-mounted display (HMD) is a type of device equipped on a helmet or worn on the head that consists of one small display optic either on one eye or both. Owing to their several benefits, HMDs are widely adopted across several industries such as aviation, gaming, medicine, and engineering, among others.
The effect of the global pandemic, COVID-19, has been felt across several economies that are facing unprecedented loss. Owing to the lockdown announced by the government agencies, several industries have been on a standstill with limited operational activities. However, a collective effort from the government as well as the industries is likely to bring the economy back on track and aid in resumption of industrial activities.
What does the Report Include?
The market report includes detailed analysis of several factors such as the key drivers and restraints that will impact growth. Additionally, the report provides insights into the regional analysis that covers different regions, contributing to the growth of the market. It includes the competitive landscape that involves the leading companies and the adoption of strategies to announce partnerships, introduce new products, and collaborate that will further contribute to the growth of the market between 2020 and 2027. Moreover, the research analyst has adopted several research methodologies such as SWOT and PESTEL analysis to extract information about the current trends and industry developments that will drive the market growth during the forecast period.
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List of the Companies Operating in the Global Market for Head-Mounted Display:
- 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.)
Presence of Prominent Companies in North America to Accelerate Growth
Among all the regions, North America is expected to remain dominant and hold the highest position in the global head-mounted display market during the forecast period. This dominance is attributable to the presence of major companies that manufacture advanced head-mounted display devices in the region.
The market in Asia-Pacific is expected to showcase considerable growth backed by the growing adoption of virtual reality technology to develop innovative head-mounted displays in the region between 2020 and 2027.
Increasing Adoption of Virtual Reality (VR) Technology to Promote Growth
The emergence of modern technologies has propelled the adoption of advanced head-mounted displays equipped with AR and VR technologies. These technologies aid in eliminating the need for presence of the user to be present physically in dangerous environments, especially, life-threatening military expeditions. The growing number of gamers further presents a significant opportunity for the adoption of these devices across the globe. According to the data by the Newzoo Analytics Platform, there ae about 2.5 billion active gamers across the globe. These factors are expected to contribute to the global head-mounted display market growth in the forthcoming years.
Product Innovation by Eminent Companies to Augment Growth
The global head-mounted display market comprises small, medium, and large companies striving to maintain a stronghold by focusing on introducing innovative head-mounted display devices. Additionally, the adoption of organic and inorganic growth strategies by other key players is expected to contribute to the growth of the market in the forthcoming years.
- October 2019 – The U.S. Air Force awarded a contract worth USD 8.5 million contract to Thales Defense and Security Inc. Under the contract, Thales will supply the advanced F-16 helmet-mounted integrated targeting system.
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