Head-Mounted Display Market by Technology (AR, VR), Application (Consumer, Commercial, Enterprise & Industry, Engineering & Design, Military, Medical), Product (Head Mounted, Eyewear), Component, Connectivity, and Geography - Global Forecast to 2022
“HMD market expected to grow at a CAGR of 38.8% between 2017 and 2022”
The HMD market was valued at USD 3.25 billion in 2016 and is expected to reach USD 25.01 billion by 2022, at a CAGR of 38.8% between 2017 and 2022. Increasing adoption of AR and VR technologies, growing investment by major players, and availability of low-cost HMDs are the major drivers for the HMD market. Factors such as lack of standardization for HMD design and limited battery life restrain the growth of the HMD market.
“HMD market for enterprise and industry application expected to grow at highest CAGR during forecast period”
The market for enterprise and industry application is expected to grow at the highest CAGR between 2017 and 2022. In the enterprise and industry application, AR HMDs can be used for various purposes, such as manufacturing space design, assembling processes, assessing the quality of goods, warehouse picking, and training workers. Many companies are using smart glasses in their warehouses and manufacturing plants. Increasing interest of enterprises to adopt AR HMDs is expected to drive the market for HMDs.
“Virtual reality technology held largest share of HMD market in 2016”
Virtual reality technology held the largest share of the HMD market in 2016. VR provides the user with an immersive experience, usually through the help of a VR headset, such as Oculus Rift and Samsung Gear. The increasing number of players entering into the market with offerings of HMDs at low cost is one of the major reasons for the wide adoption of VR headsets.
“HMD market in APAC expected to grow at highest CAGR during forecast period”
The HMD market in APAC is expected to grow at the highest CAGR between 2017 and 2022. In China, the HMD market is growing as it has one of the largest consumer electronics market in APAC. The growing number of start-ups and increasing presence of international firms in China working to offer innovative products; government support to explore opportunities for AR and VR technologies; and availability of low-cost headsets are the main factors responsible for the market growth.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews have been conducted with people holding key positions across several regions. The breakup of the profiles of primary participants has been given below:
• By Company Type: Tier 1 – 32%, Tier 2 – 48%, and Tier 3 – 20%
• By Designation: C-Level Executives – 35%, Directors – 44%, and Others – 21%
• By Region: Americas – 40%, Europe – 23%, APAC – 30%, and RoW – 7%
Major players operating in the HMD market are Samsung Electronics Co., Ltd. (South Korea), Sony Corporation (Japan), HTC Corporation (Taiwan), Microsoft Corporation (US), Oculus VR, LLC (US), BAE Systems, Inc. (US), Seiko Epson Corporation (Japan), Google Inc. (US), Kopin Corporation (US), Osterhout Design Group (US), Recon Instruments, Inc. (Canada), Rockwell Collins, Inc. (US), Sensics, Inc. (US), Thales Visionix, Inc. (US), and Vuzix Corporation (US).
The report defines, describes, and forecasts the HMD market on the basis of HMD type, component, connectivity, product type, application, technology, and geography. It provides detailed information regarding the major factors influencing the growth of the HMD market (drivers, restraints, opportunities, and industry-specific challenges). It also analyzes the competitive developments such as joint ventures, collaborations, agreements, contracts, partnerships, mergers and acquisitions, and product launches carried out by key players to grow in the market.
Reasons to Buy the Report:
• Illustrative segmentation, analysis, and forecast pertaining to the HMD market based on HMD type, component, connectivity, application, technology, and geography have been conducted to provide an overall view of the HMD market.
• Major drivers, restraints, opportunities, and challenges for the HMD market have been detailed in this report.
• The report includes a detailed competitive landscape of the key players in the market and their revenues.
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