Head-mounted Display (HMD) Market Analysis 2020: By Keyplayers Sensics Corporation, Sony Corporation, Recon Instruments, Kopin Corporation, Thales Visionix, Inc., Oculus VR, Rockwell Collins, Inc., eMagin Corporation, Google Inc., Lockheed Martin, Japan D

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Market Overview

A head-mounted display is an electronic wearable device, mounted on a head that includes a small display optic near the eye. The display optic projects a virtual environment in front of the user's eyes. The screens used in the head-mounted display are liquid crystal displays (LCDs) since they are compact, efficient, and lightweight. HMD finds applications in a variety of industries including military, gaming, medical, sports, training and simulation, engineering, etc. The virtual reality headsets used in gaming and other applications are HMDs combined with inertial measurement unit (IMU). Furthermore, optic head-mounted display (OHMD) is a wearable display that can reflect projected images and enables the user to see through it.

The global head mounted display (HMD) market is estimated to account for US$ 7.2 Bn in 2019 and is expected to grow at a CAGR of 38.6 % over the forecasted period 2019-27.

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Competitive Section

Key players operating in the global head mounted display (HMD) market are Sensics Corporation, Sony Corporation, Recon Instruments, Kopin Corporation, Thales Visionix, Inc., Oculus VR, Rockwell Collins, Inc., eMagin Corporation, Google Inc., Lockheed Martin, Japan Display Inc., and Seiko Epson Corporation.

Market Dynamics- Drivers

1. Increasing expenditure on defense equipment and personnel are expected to drive growth of the global head mounted display (HMD) market during the forecast period

Many countries around the world including Brazil, India, Russia, and China have started investing heavily in military and defense infrastructure and related products. Moreover, these countries are laying emphasis on importing electronic products from countries such as France, Germany, and the U.S. For instance, in 2014, Brazil entered into an agreement with Saab AB to buy its JAS-39E/F -X2Gripen over Rafael, Super Horne with HMD-enabled technology. Furthermore, in 2012, BAE Systems received an order for remote eyepiece display imagers from the U.S. Army. Hence, high expenditure on defense equipment is expected to support growth of the market in the near future.

2. Rising consumer preference for sophisticated wearable devices is expected to propel the global head mounted display (HUD) market growth over the forecast period

Increasing purchasing power of individuals in many developed countries including the U.S., Germany, Canada, and the U.K. combined with rising preference of consumers for sophisticated high tech wearable devices is expected to boost the demand for wearable devices in the near future. Moreover, growing awareness among consumers regarding benefits of wearable electronic devices such as fitness bands and other activity trackers is expected to boost the global head mounted display (HUD) market growth over the forecast period. According to Coherent Market Insights' analysis, the global wearable electronics market is expected to increase at a CAGR of over 36% by 2020.

North America region dominated the global head mounted display (HMD) market in 2019, accounting for 33.4% share in terms of value, followed by Europe and Asia Pacific, respectively.

Market Opportunities

1. Integration with healthcare and fitness devices can present lucrative growth opportunities

The demand for wearable devices such as bands, eyewear, and smart-watches is expected to increase significantly in the near future. Key players in the market are can integrate head mounted displays with wearables and capitalize on untapped market potential. For instance, Samsung Gear Live is a wearable device that monitors heart rate and has attractive appearance. Moreover, Samsung Gear Fit is a fitness version of Samsung Gear and Integrated Mobile S Health Partner.

2. Rising applications in the entertainment
sector can pose major business opportunities
Video gaming and entertainment sectors have registered high demand for HMDs in the recent past. Increasing consumer interest in entertainment is a major factor driving growth of the eyewear display market. Moreover, companies such as Google, Sony, and Oculus VR have launched products for consumer entertainment purposes.

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Market Trends

1. North America Trends

High presence of key manufacturers
The semiconductor and wearable electronics market in North America has matured enough so that it can drive growth of the regional head mounted display market. North American information technology, electronics, semiconductor, and automation companies are introducing innovative HMD technologies in order to maintain a competitive edge in the industry.
Furthermore, some of the major players in the IT industry and social networking sites are focused on investing in head-mounted displays. For instance, in 2014, Facebook acquired Oculus VR to enter the consumer electronics segment.

Rapid growth of healthcare industry

Rapid growth of healthcare industry in North America has resulted in increased use of head-mounted displays in the region for accurate and safe decision-making in medical treatment and healthcare. Healthcare professionals in the U.S. use Google Glass to track patient health records in hospitals. Moreover, Google Glass is expected to find applications in treatment for autism and various other fields including healthcare and medical research.

2. Latin America Trends

High growth of electronics industry

The consumer electronics industry in Brazil is expected to witness high growth in the near future, owing to active support from the government. Rising demand for navigation-based displays in the region is expected to boost the regional HMD market. Furthermore, growing semiconductor industry in Lain America is attracting global players in the semiconductor industry to expand their business into the region.

Strong support from government

The Brazilian government is actively supporting the electronics industry by providing tax incentives for domestic production of electronic products. Moreover, Brazil government's 'Padis' program focuses on supporting technological developments in the semiconductor industry and advanced technical developments in integrated circuits and assembly-related tasks.

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This release was published on openPR.