Technological advancement is commercialized to develop products targeting for professional business market. A significant growth in Global Head Mounted Display Market has been estimated in recent years. Virtual reality and augmented reality applications will lead the rising demand for HMDs in varied domains.
The Global Head Mounted Display (HMD) Market was valued at US$ 3.25 Bn in 2016 and is expected to reach US$ 25.01 Bn by 2022.Increasing adoption of AR and VR technologies in 3D gaming applications and entertainment gives boom to the growth of the HMD market.
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Advanced technologies of HMDs targeting the logistics and manufacturing industries developments includes Smart phone manufactures, research organization, aerospace, commercial and micro display manufacture, defense sector focusing on developing defense specific HMDs, analyst and business planners and start-ups companies. There is a tremendous growth in adoption of HMD applications in medical, engineering and private firms also. All these sectors are contributing a large share of revenue across the globe.
HMD market is the next dominated market for the increasing growth of the AR and VR technology all across the globe. Large numbers of players or start-up companies are entering in the global HMD market with availability of low cost. Consumer application lead the HMD market in the upcoming years.
The global HMD market expanded in the region of the Americas, Europe, APAC and rest of the world. A major share of the global HMD market is contributed by the North America accounted 41% of the total market share in the forecast period; followed by the Europe due to the huge adoption of VR and HMD technology. The U.S. augmented reality market share the regional industry of North America during the forecast period. APAC is considered to be the most dominated region for the HMD market in the forecast period and will expected to generate highest revenue across the globe includes the emerging market of India, China, Japan, and Korea.
Leading players in the global HMD market includes Samsung Electronics Co. Ltd (South Korea), Microsoft Corporation (U.S.), BAE Systems, Rockwell Collins, Inc. Vuzix Corporation (U.S.) and others.
Increasing adoption of smart glasses and mobile application with advanced HMDs and HUDs technology across the globe is anticipated to boost the market growth during the forecast period. Smart glass market size is projected to observe significant growth at CAGR of 80% during the forecast period. Rising demand in automotive and smart phones, AR market is projected to witness a significant growth at CAGR of 90% in the forecast period.
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Increasing demand for Smart phones, televisions, and laptops encouraging companies to develop advanced technologies such as high resolution images and 3D viewing display may affect the growth of the HMD market. Companies like Samsung and Toshiba has developed and marketed glasses free big screens 3D laptops and televisions for the rising demand of the consumers. Increasing adoption of the HMD in varied domains can generated a large account for the global market. Leading companies invest immensely improve their manufacturing capabilities that would influence the market growth during the forecast period.