Press release
Head Mounted Display Market to Expand at 45.20% CAGR By 2022
In addition to this, the declining prices of microdisplays and regulated demand from defense services will also fuel the global head mounted display market.
On the other hand, the global head mounted display market will be suppressed by the design issues associated with HMDs and lack of awareness of the public regarding HMDs.
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By end use, the global head mounted display (HMD) market is segmented into the consumer market (video gaming, virtual reality, and augmented reality), defense (navy, military, and air force), and others (sports, safety practices, medical practices, and automation).
In 2013, the defense service segment held the largest share in the global head mounted display market, generating a revenue of US$483.2 mn. On the other hand, the consumer market segment is projected to witness the fastest CAGR of 53.20% during the forecasting horizon.
According to type, the global head mounted display (HMD) market is divided into wearable computing glasses and helmet mounted displays. The helmet mounted displays segment dominated the global head mounted display market with a 66% revenue share in 2013. Nevertheless, the wearable computing glasses segment is projected to surpass the helmet mounted display segment.
Component-wise, the global head mounted display market is classified into pico projectors, computing, batteries, head trackers, control units, goggles, relay optics, accessories, and others.
On the basis of application, the global head mounted display (HMD) market is divided into imaging, tracking, training and simulation, and security.
Region-wise, the global head mounted display market is segmented into Latin America, Asia Pacific, the Middle East and Africa, Europe, and North America.
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Currently, North America is dominating the global head mounted display (HMD) market. However, it is Asia Pacific that is predicted to experience the highest CAGR of 48.20% during the forecasting horizon.
The Asia Pacific head mounted display market benefits from the growing demand from its medical sector and consumer sector. The global head mounted display market is projected to witness growing demand in the medical sector for various types of surgeries and dentistry practices.
Companies in the global head mounted display (HMD) market will benefit from the opportunities presented by cloud computing. Another good growth opportunity for market players is the use of HMDs in automotive prototyping, i.e. virtual designing of automotive parts.
The key companies operating in the global head mounted display market are BAE Systems, Google, Elbit Systems, Seiko Epson, eMagin, Sensics, and Sony.
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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
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