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Global Head Mounted Display Market Expected to Rise at a CAGR of 35.8% During 2022-2027, Likely to be Driven by the Rising Applications in the Healthcare Industry

According to a new report by EMR titled, ‘Global Head Mounted Display Market Report and Forecast 2022-2027’, the global head mounted display market attained a value of about USD 12.1 billion in 2020. The market is expected to grow at a CAGR of 35.8% in the forecast period of 2022-2027.

The head-mounted display industry is driven by the rising application of the product in the healthcare industry. Surgeons and healthcare staff in the hospitals and ambulatory surgical centres use HMD to augment the visualisation of the worksite. Over the forecast period, the rising investments towards the development of high-resolution displays, lighter structures, and various see-through designs is likely to increase the capabilities of the medical devices. In addition, the increasing inclination of the patients towards minimal invasive surgeries is expected to propel the demand for the product in the forecast period. The market is anticipated to be bolstered by the rising demand for opaque stereoscopic medical HMD. It allows the doctor to see through the patient and the operative field they are working on.

In terms of region, North America is likely to account for a significant share in the market, owing to the rapid expansion and technological advancements in the various end-use industries of HMD, including advertising, aerospace and defence, engineering and design, and education, among others. For instance, in the education sector, the region has witnessed a considerable rise in the demand for HMD to augment students' learning experience. In addition, augmented reality (AR) can project the depth of the topic through the 3D view and is likely to witness a rise in adoption in schools and colleges.

Sony Corporation (TYO: 6758) and Facebook Inc. (NASDAQ: FB) are collaborating to launch new VR hardware in 2022. According to the sources, the two companies have ordered a large number of new and more expensive optical lenses. The new lenses being used in the product is likely to improve the field view and resolution of the handset. In addition, in March 2021, Sony Corporation launched the new VR controllers, which are distinguished from the ball-on-a-stick controllers used in the PS4.

Market Breakup by Types, Technologies, Components, Connectivity, Productivity, Applications, End Uses and Region:

  • The market, based on type, is segmented into slide-on HMD, discrete HMD, and integrated HMD.
  • The different technologies in the market include augmented reality and virtual reality.
  • The market, based on components, is divided into processors and memory, displays, lenses, sensors, controllers, cameras, cases and connectors, among others.
  • Based on connectivity, the market is divided into wired and wireless.
  • The market can be divided into head-mounted display and head-mounted computing/ wearable glasses by product. The significant applications of the product include security, tracking, training and simulation, and imaging, among others.
  • The product finds end-uses in consumer, commercial, enterprise and industry, engineering and design, healthcare, education, aerospace and defence, among others.
  • Region-wise, the global market for head-mounted displays can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The global market for head-mounted displays is being driven by the rising applications of the product in various end-use industries, including healthcare, advertising, aerospace and defence, among others.
  • The growing popularity of video games is likely to propel market growth.
  • The product can enhance the students' learning experience by providing a 3D view in the classroom. Hence, the rising adoption of HMD in education centres is likely to bolster the market growth.
  • The market will further be aided by the growing investments by the major market players towards this technology.

Key Offerings of the Report:

  • The EMR report gives an overview of the global head-mounted display industry for the periods (2017-2021) and (2022-2027).
  • The report also offers historical (2017-2021) and forecast (2022-2027) market information for the types, technologies, components, connectivity, productivity, applications, end-uses, and regions of head-mounted display.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global head-mounted display market are Sony Corporation, Microsoft Corporation, Oculus (Facebook Technologies, LLC), Aniwaa Pte. Ltd., Magic Leap, Inc., Levono Group, and Samsung Electronics Co., Ltd., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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