The head-mounted display market is going to continue to advance at a CAGR of 25.9% between 2023 and 2033. The HMD market is projected to climb from US$ 15.12 billion in 2022 to US$ 151.29 billion by 2033.
The head-mounted display (HMD) is a pair of high-tech goggles. Many attachments, such as a controller, sensor, and camera, are integrated into the head-mounted device display. The head-mounted device is portable; HMD displays are widely used in defense services, the gaming industry for virtual reality, and medical professions. The market is likely to be driven by reduced microdisplay prices and rising demand for helmet-mounted displays.
The market is projected to be powered by influential manufacturers raising their investments. The HMD market is likely to expand as VR/AR head-mounted display technologies become more widely used. The market may soon have chances due to the rising demand for portable devices and lightweight head-mounted displays. The lack of consumer knowledge of head-mounted equipment is limiting demand growth.
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Profound Setbacks for Players in the Head-mounted Display Market
The head-mounted display market particularly helmet-mounted display systems is severely curtailed by design difficulties. The head-mounted system business is also being hindered by problems including helmet considerations, symbol stabilization, and acceptable field-of-view in relation to the resolution offered.
Lack of knowledge regarding its application and the potential of HMDs is a global danger that is getting worse, especially in underdeveloped and developing nations.
Analysis at the Regional Level
North America to lead the market over the forecast period. The presence of significant players such as Collins Aerospace, a United Technologies subsidiary, Google Inc., Kopin Corporation, Inc., and Microsoft Corporation contributed to this rise.
During the projected period, Asia Pacific is to account for a sizable proportion of the head-mounted display market. Its market expansion can be attributed to the acceptance of VR/AR head-mounted display technologies in emerging markets such as India and China. The growing need for a head-mounted device in the medical field for treatment and surgery is assisting in the market’s expansion.
The increasing usage of HMD technology in the educational sector in Europe is to increase the market. Throughout the projection period, the Rest of the World HMD market expands significantly. The rapid growth of HMD technology across South America, the Middle East, and Africa is promoting head-mounted display market expansion.
Key Takeaways
- From 2023 to 2033, the eyewear segment in the product type category is to expand at a CAGR of 30.2% and reach US$ 41.36 billion by 2033.
- Between 2023 and 2033, the integrated HMDsegment in the HMD type category may develop at a CAGR of 31.4%, and reach US$ 39.28 billion by 2033.
- The United States market is to develop at a CAGR of 20.4%, reaching US$ 31.3 billion by 2033.
- The German marketis to develop at a CAGR of 22.6%, reaching US$ 8.72 billion by 2033.
- The United Kingdom marketis to develop at a CAGR of 32.7%, reaching US$ 10.14 billion by 2033.
- China’s head-mounted display market is to develop at a CAGR of 27.9%, reaching US$ 23.77 billion by 2033.
- India’s marketis to develop at a CAGR of 35.9%, reaching US$ 17.62 billion by 2033.
- North America head-mounted display market to acquire a market share of 29.5% from 2023 to 2033.
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Competitive Analysis
Businesses in the head-mounted display market use a variety of expansion tactics to increase their position. Product launches, collaborations with major players, partnerships, acquisitions, and the strengthening of global and regional distribution networks are examples of these strategies.
Market Innovation for Head-Mounted Displays
- Launch
- Microsoft unveiled the Mesh cloud service in March 2021, allowing developers to create applications that let people share holograms, communicate with one another, draw doodles, and appear as virtual avatars. The company also worked on VR head-mounted displays and headsets, which immerse users in a computer-generated world while blocking out the physical world via AR headsets (HMD).
- Google announced in February 2020 that the latest version of the Google Glass AR headset is now available for purchase. Google Glass Enterprise Edition-2 was released one year through select workplace partners. Google made it accessible for direct purchase due to high demand from developers and companies.
- Agreement
- Elbit Systems inked a Technical Cooperation Agreement (TCA) for a helmet-mounted display system in February 2021. Under the terms of this agreement, BEL may produce and integrate the Helmet Mounted Display system for the Indian Navy and other rotary wing platforms of the Armed Forces.
Key Segments
Product Type:
- Head Mounted
- Eyewear
HMD Type:
- Discrete HMD
- Integrated HMD
- Slide-on HMD
Application:
- Gaming, Media,& Entertainment
- Aerospace, and Defense
- Healthcare and Medical Devices
- Engineering & Industry Applications
- Education
- Others
Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia& Pacific
- Middle East & Africa (MEA)
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Author:
Sudip Saha is the managing director and co-founder at Future Market Insights, an award-winning market research and consulting firm. Sudip is committed to shaping the market research industry with credible solutions and constantly makes a buzz in the media with his thought leadership. His vast experience in market research and project management a consumer electronics will likely remain the leading end-use sector cross verticals in APAC, EMEA, and the Americas reflects his growth-oriented approach to clients.
He is a strong believer and proponent of innovation-based solutions, emphasizing customized solutions to meet one client’s requirements at a time. His foresightedness and visionary approach recently got him recognized as the ‘Global Icon in Business Consulting’ at the ET Inspiring Leaders Awards 2022.
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