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 2030”, is expected to be valued at US$ 104 Billion by 2030, witnessing a CAGR of 46.0 % during the forecast period (2022-2030), as highlighted in a report published by Coherent Market Insights.
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 spectacles. 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$ 5.5 Bn in 2021 and is expected to grow at a CAGR of 46.0 % over the forecasted period 2022-30.
Key Developments
- In January 2022. Sony Corporation, a manufacturer of electronic equipment, semiconductors, medical-related equipment, instruments, and devices unveils the first look of PSVR 2, the new design of PSVR 2 Virtual Reality headset features an internal IR camera for eye tracking per eye, Vibrations on headset, 90-120Hz panel refresh rate and other features.
- 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 Billion contract with Collins Aerospace to provide helmet displays.
Global Head-mounted Display (HMD) Market - Impact of Coronavirus (Covid-19) Pandemic:
Due to the imposition of lockdown and temporary suspension of various businesses, manufacturing units has being severely impacted. Furthermore, some of the companies have to completely stop their manufacturing processes, which heavily impacted the global supply chain. Due to the halt in manufacturing processes, there was less availability of electronic materials for manufacturing various VR devices.
Although, there was a demand for Head-mounted Displays (HMD) the companies were unable to fulfill demand due to less workforce and insufficient raw materials. However, according to CMI analysis Head-mounted Displays (HMD) have started growing and surely it will expand their market in 2 to 3 years.
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/head-mounted-displays-market-3663
Browse 150 market data tables* and 90 figures* on “Global Head-mounted Display (HMD) Market - Global Forecast to 2030”
Key Trends and Analysis of the Global Head-mounted Display (HMD) Market:
- Asia Pacific excluding Japan’s 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 the governments of these countries are driving the 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.
- 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.
- he 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.
- 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.
- 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.
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