Press release
Head-Mounted Display (HMD) market is expected to reach a valuation of US$ 104.53Bn by 2031
Head-Mounted Display (HMD) market
In its new study, ESOMAR-certified market research and consulting firm Future Market Insights (FMI) offers insights about key factors driving demand for head-mounted display products. The report tracks the global sales of head-mounted display products in 20+ high-growth markets, along with analyzing the impact of COVID-19 on the global adoption of head-mounted display solutions, along with the pre-COVID and post-COVID market growth analysis.
Request a report sample with 366 pages to gain comprehensive insights at https://www.futuremarketinsights.com/reports/sample/rep-gb-73
According to the study, warfare simulations, tactical augmented reality, situational awareness, and many other advantages are provided by HMDs. These aforementioned factors are key drivers increasing the application of HMDs in aerospace and defense sectors. Integration of 5G technology and the need to create Synthetic Training Environment for defense training is boosting the growth of head mounted display market.
Apart from the aerospace and defense industry, the incorporation of AR/VR in HMDs has increased the usage in various industrial applications such as gaming, virtual shopping, automotive, remote education and many more. Hence, fueling the demand.
“Advanced technology coupled with the integration of AR/VR in various sector such as education, gaming, military & defense, e-commerce and many more is bolstering the growth of head mounted display market,” remarks the FMI analyst.
Discover more about report analysis with figures and data tables, along with the table of contents. Ask an Analyst- https://www.futuremarketinsights.com/ask-question/rep-gb-73
Key Takeaways
• Eye wear segment is expected to register a growth of over 30.2% CAGR during the forecast period
• Increasing application in gaming and media & entertainment is expected to remain dominant
• By type, slide-on HMD is anticipated to prevail over other segments through 2021 and beyond
• United States is expected be one of the most lucrative market backed by the rise in gaming industry & defense sector
• UK is likely to reach a valuation of over US$ 5759.6 Mn by 2031-end to expand at 32.7% CAGR
• India to register a growth of over 35.9% CAGR during the forecast period backed by government initiatives to develop AR/VR technologies
• China is leading the East Asia HMD market followed by Japan and South Korea
Prominent Drivers
• Higher adoption of HMDs in gaming, healthcare and defense sectors is a key driver for the market growth
• Increasing adoption of AR and VR technologies is fuelling the demand of HMDs
• Surge in demand for lightweight HMDs and portable devices is stimulating HMDs sales
Key Restraints
• Lack of standardization and limited battery life is posing a challenge for the market growth
• Unavailability of proper knowledge of HMDs is expected to cause a restrain
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Competitive Landscape
Amcor PLC, Berry Global Group Inc., Gerresheimer AG, Comar LLC, Graham Packaging Company, Maynard & Harris Plastics, Alpha Packaging Inc., O.Berk Company LLC, CL Smith, Aaron Packaging Inc., and Clarke Container Inc. are some of the companies profiled by Future Market Insights. Leading players are reliant on the strategies such as product development, mergers and acquisition to strengthen their position in the market.
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About FMI
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth.
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