The key factors driving the market include an increase in investments by major players in HMD development, higher acceptance of AR and VR technologies as a result of COVID-19, the availability of low-cost HMDs, and technological developments.
Jersey City, New Jersey, Aug. 02, 2021 (GLOBE NEWSWIRE) -- Verified Market Research recently published a report, “Head-Mounted Display Market” By Product Type(Head-mounted and Eyewear), By Component(Processors and Memory, Displays, Lenses, Sensors, Controllers, Cameras), By Connectivity(Wired and Wireless), and By Geography. According to Verified Market Research, the Global Head-Mounted Display Market size was valued at USD 12.11 Billion in 2020 and is projected to reach USD 141.18 Billion by 2028, growing at a CAGR of 38.78% from 2021 to 2028.
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126 – Tables
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Global Head-Mounted Display Market Overview
There has been considerable growth in investments in the development of HMDs, as well as their use in diverse applications around the world. Huge investments have been made in the HMD industry, and investors have been eager to invest in firms that have proven the usefulness of their innovations and products in recent years. Facebook Corporation, Intel Corporation, Qualcomm, Inc., Alphabet, Inc., Comcast Ventures, and Samsung Group are all substantially investing in the HMD industry. Several research institutes are also researching the AR application market for a variety of products and applications.
Private companies and venture investors, as well as governments, sponsor research institutes. Because of the benefits of AR, industries such as consumer electronics, aerospace and defense, healthcare, retail, and advertising are adopting it. Mobile head-mounted displays accounted for 78 percent of global HMD sales in 2016. In 2016, five million virtual reality headsets were sold worldwide. This figure is expected to climb to 68 million units by 2020. The Head-Mounted Display Market is being driven by several factors, including the lowered process of microdisplays and the rising demand for helmet-mounted displays in a variety of applications. The growing demand for mobile-based AR applications is a major driver driving the growth of the Head-Mounted Display Market. Furthermore, the introduction of lightweight wearable technology has resulted in a slew of innovations in the field of Head-Mounted Displays. Following the debut of lightweight displays, leading manufacturers began positioning them as consumer products, which contributed to the expansion of the Head-Mounted Display Market.
Key Developments in Head-Mounted Display Market
• In April 2021, The US Army awarded Microsoft a USD 22 billion contract for the production of Augmented Reality Gear. Under the terms of the contract, it would begin producing Integrated Augmentation Systems over 10 years.
• In March 2021, Sony revealed its new VR controllers, which are unique from the ball-on-a-stick controllers used in the PS4. Sony has also indicated that the controllers would include adjustable triggers, haptic feedback, and finger contact recognition, among other things.
The major players in the market are Sony (Japan), Google (US), Microsoft (US), Oculus (US), HTC (Taiwan), Seiko Epson (Japan), Samsung (South Korea), Lenovo (China), Magic Leap (US), Vuzix (US).
Verified Market Research has segmented the Global Head-Mounted Display Market On the basis of Product Type, Component, Connectivity, and Geography`.
Head-Mounted Display Market, By Product Type
Head-Mounted Display Market, By Component
Processors and Memory
Head-Mounted Display Market, By Connectivity
Head-Mounted Display Market by Geography
Rest of Europe
Rest of Asia Pacific
Middle East & Africa
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