The “Global Head-mounted Display (HMD)  Market, BY Product Type(Helmet Mounted Display, Eye Wear Display) by Component (Helmet Mounted Display (Micro-Display, Head Tracker, Camera, Connectivity, Combined Mirror, Control Unit, Helmet and Accessories) Eye Wear Display/Glass (Micro-Display, Goggle, Head Tracker, Controller, Connectivity, Battery and Accessories)), by Application (Defense, Aviation, & Military, Industrial Sector, Augmented & Virtual Reality, Research & Development, Healthcare, Video Gaming & Entertainment, Training & Simulation and Others), and by Geography (North America, Europe, Asia Pacific, and Latin America, Middle East & Africa) - Global Forecast to 2027”, is expected to be valued at US$  125.06 Billion by 2027, witnessing a CAGR of 38.6 % during the forecast period (2019-2027), as highlighted in a report published by Coherent Market Insights.

Overview

A head-mounted display (HMD) is a computer display that can be worn on your head, which features a small optic display near the eye. Most HMDs are mounted in a helmet or a set of goggles. The HMDs are designed in such a way that no matter what direction the user looks, a monitor would stay in front of his eyes. Generally, HMDs are provided with liquid crystal displays (LCDs) since they are more compact, efficient, lightweight, and inexpensive than CRT displays. Moreover, LCDs provide better screen resolution and brightness. HMDs are majorly used in various applications including military, gaming, medical, sports, training and simulation, engineering, etc. Currently, 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.

Market Driver

High growth of electronics and semiconductor industry is expected to drive growth is expected to boost the global head mounted display (HMD) market growth over the forecast period

Rapidly expanding the semiconductor and electronics industry is driving growth of the global wearable electronics market, which is indirectly boosting global HMD market growth. Increasing developments in display technology have resulted in the use of OLEDs for producing lightweight and flexible displays for HMDs. Furthermore, constantly declining prices microdisplays are attracting investors to go for large-scale production of microdisplay components. According to Coherent Market Insights’ analysis, microdisplays account for around 30% share of the total head-mounted display market. Hence, these factors are expected to drive the global head mounted display (HMD) market growth over the forecast period.

Market Opportunity

Use of HMDs in multiple application areas can present excellent growth opportunities

Wearable electronic devices have multiple applications in healthcare, defense, aviation, and military, industrial, etc. For instance, Google offers Google Glass with integrated features such as Google translator, Google maps, etc., and offers various supporting features such as clicking images, recording videos, messaging, information sharing, etc. Moreover, Google Glass is also integrated with SHORE (Sophisticated High-Speed Object Recognition) software to treat autism.

Market Restraint

Low battery life of HMDs is expected to restrain growth of the global head mounted display (HMD) market during the forecast period

On average, HMDs have capacity of 4–7 hours battery life and thus are not very reliable for use over long periods. The battery accounts for a small share (<10%) in the overall HMD product cost structure. Although HMD manufacturers are focusing on technology improvements, emphasis on battery life is also required. Therefore, low battery life of HMDs is expected to hamper the global head mounted display (HMD) market growth during the forecast period.

Market Trends

  1. APEJ Trends

High growth of the electronics industry

Asia Pacific excluding Japan electronics industry has witnessed significant growth in the recent past, owing to rapid industrialization and technological advancements in emerging economies such as China and India. Moreover, supportive policies by governments of these countries are driving growth of the industry. For instance, Samtel-HAL Display Systems (SHDS) is a joint venture between Hindustan Aeronautics Limited (HAL) and Samtel HAL Display Systems (SHDS) to manufacture head-mounted display-based defense avionics in India.

 Growing microdisplay market

Countries in Asia Pacific excluding Japan, especially China, are developing and deploying technologies related to head-mounted displays. Moreover, global players in the head mounted display market is focused on entering into strategic partnerships with domestic players, in order to capitalize the regional market. For instance, Three-Five Systems, Inc. entered into an agreement with China Display Digital Image Technology Co., Ltd., to develop high-performance light engines using Three-Five's Micro display technology which can be used for HMDs.

  1. Western Europe Trends

Rapid growth of gaming and entertainment market

The gaming market in Western Europe, especially in the U.K., is rapidly developing, owing to increasing disposable income, which in turn, increases expenditure on leisure activities such as gaming. Head-mounted displays offer an enhanced gaming experience. For instance, Oculus Rift is a popular head-mounted display in the region. The device supports various platforms such as Windows, Mac OS, and Linux.

High growth of virtual and augmented reality market

Virtual and augmented reality devices have witnessed significant demand in Western Europe, which is widely used for simulation, entertainment, and training in the region. Key players in the market are focused on collaboration and partnerships with other players, in order to enhance the market presence. For instance, Vuzix Corporation (U.S.), has formed a marketing and development partnership with Metaio (Germany), a leading provider of professional Augmented Reality (AR) software systems, to deliver head-mounted display (HMD) solutions for video eyewear developed by the former.

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.

Key Developments

  1. Major companies in the market are focused on contracts and agreements, in order to gain a competitive edge in the market. For instance, in January 2020, eMagin Corporation entered into a US$ 1.4 million-contract with Collins Aerospace to provide helmet displays.
  2. Key players in the market are involved in product launches, in order to expand product portfolio. For instance, in November 2018, Japan Display Inc. introduced a VR head-mounted display ‘VRM-100’ with an LCD panel exclusively developed for virtual reality.

Segmentation

Market Taxonomy:

  1. By Product
    • Helmet-Mounted Display
    • Eyewear Display
  1. By Component
  • Helmet-Mounted Display
    • Micro-Display
    • Head Tracker
    • Camera
    • Connectivity
    • Combined Mirror
    • Control Unit
    • Helmet
    • Accessories
  • Eyewear Display
    • Micro-Display
    • Goggle
    • Head Tracker
    • Controller
    • Connectivity
    • Battery
    • Accessories
  1. By Application
  • Defence, Aviation & Military
  • Industrial Sector
  • Augmented & Virtual Reality
  • Research & Development
  • Healthcare
  • Video Gaming & Entertainment
  • Training & Simulation
  • Others
  1. By Geography
  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • U.K.
    • Germany
    • France
    • Italy
    • Spain
    • Others
  • Asia Pacific
    • India
    • China
    • Japan
    • Others
  • Latin America
    • Brazil
    • Others
  • Middle East & Africa (MEA)
    • GCC
    • Others
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