Transparency Market Research recently announced the publication of a new market research study made available on the company’s website. The research report, titled “Head Mounted Display Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 – 2022,” offers a clear picture of the market studying the overview, product segmentation, key driving factors, barriers, major geographical segments, and vendor analysis. As per the research study, in 2012, the global head mounted display (HMD) market for stood at US$430.4 mn and is projected to be US$20.45 bn by the end of 2022. This market is predicted to register an impressive 45.20% CAGR between 2014 and 2022.
Head mounted displays consist of a small display, which is placed in front of the wearer’s eye to offer virtual information concerning the environment. These devices can be for a single display or for each eye depending on the requirement of the application. These devices generate a predictable environment by displaying all the information in a verbal and graphical format. In the last few years, the rising popularity of light-weight wearable devices has fuelled the growth of the head mounted display market.
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The declining prices of microdisplays and growing demand from the defense sector are the major factors projected to drive the global head mounted display market in the forecast period. In addition, the concept of cloud computing and automotive prototyping are the key opportunities for the major players operating in the global market. However, the lack of awareness and design issues are estimated to curb the growth of the market in the next few years.
The global head mounted display market has been categorized on the basis of end use into the consumer market, defense, and others. In 2013, the defense segment was worth US$483.2 mn and dominated the overall market. On the other hand, the consumer market segment is anticipated to grow at a fast pace, exhibiting a whopping 53.20% CAGR between 2014 and 2022.
On the basis of product, the global HMD market has been categorized into wearable computing glasses and helmet mounted display. In 2013, the helmet mounted display led the market, holding a 66% share in the global head mounted display market. Nevertheless, the wearable glasses segment is anticipated to grow rapidly, surpassing the helmet mounted display segment in the next few years. The rapid growth of this segment can be attributed to consumers’ inclination towards light-weight and head-worn display devices.
The global market for head mounted display has been divided on the basis of geography into Europe, Latin America, Asia Pacific, North America, and the Middle East and Africa. As per the study, the North America HMD market is projected to dominate the overall market throughout the forecast period. The Asia Pacific HMD market, on the other hand, is anticipated to grow rapidly, exhibiting an enormous 48.20% CAGR between 2014 and 2022. The fast-paced growth of this region can be attributed to the growing demand from consumer and medical market segments.
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The global HMD market is highly fragmented owing to the presence of several mid-sized and large-sized players operating in the market. The leading players mentioned in the research study are Rockwell Collins, BAE Systems Plc, eMagin Corporation, Vuzix Corporation, Elbit Systems Ltd., Sony Corporation, Seiko Epson Corporation, and Kopin Corporation. The increasing participation of new players is expected to strengthen the competition in the market in the next few years.
Key Segments of the Global Head Mounted Display Market:
Head Mounted Display Market, by End-use:
- Air Force
- Consumer market
- Video gaming
- Augmented reality
- Virtual reality
- Medical practices
- Safety practices
- Others (police force and design)
Head Mounted Display Market, by Product
- Helmet Mounted Display
- Wearable Computing Glasses
Head Mounted Display Market, by Components
- Relay Optics
- Control Unit
- Head Tracker
- Pico Projectors Technology
Head Mounted Display Market, by Application:
- Training and simulation
Head Mounted Display Market, by Geography:
- North America
- Asia Pacific
- Middle East and Africa
- Latin America
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