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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:
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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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