Westford, USA, April 27, 2022 (GLOBE NEWSWIRE) — The key aspects that drive the growth of the global head mounted display market Includes lower microdisplay prices and rising demand for helmet-mounted displays. The industry is also expected to benefit from the rising usage of augmented reality (AR) and virtual reality (VR) technologies. The market is also likely to witness new opportunities as demand for lightweight head-mounted displays and portable devices tend to increase.
Further, increased investments by major important players are also projected to fuel the market growth during the forecast period. There has been a considerable growth in investments in the development of HMDs, as well as their use in a variety of applications around the world. The HMD sector has seen massive investment, with investors eager to back businesses that have shown the value of their technology and products.
Facebook Corporation, Intel Corporation, Qualcomm, Inc., Alphabet, Inc., Comcast Ventures, and Samsung Group are among some of the companies that have made significant investments in the head mounted display industry. Several research institutes are also investigating the AR application market for a variety of products and applications. AR is being embraced by industries such as consumer electronics, aerospace and defense, healthcare, retail, and advertising due to its various benefits. Hence, this is likely to enhance the industry growth during the forecast period.
Read market research report, ” Global Head Mounted Display Market is segmented By Type (Slide-On Head Mounted Displays, Discrete Head Mounted Displays, and Integrated Head Mounted Displays), By Technology (AR and VR), By Application (Consumer, Commercial, Enterprise and Industry, Engineering & Design, Aerospace & Design, Healthcare, Education, and Others) & By Region- Forecast and Analysis 2021-2027” by SkyQuest
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The global head mounted displays market is segmented on the basis of type, technology, and application. Based on the type, the market is segmented into slide-on head mounted displays, discrete head mounted displays, and integrated head mounted displays. Based on technology, the market is segmented as AR and VR. Based on the application, the market is segmented as consumer, commercial, enterprise and industry, engineering & design, aerospace & design, healthcare, education, and others.
Among the applications, the defense segment is likely to emerge as a significant segment in the market. Head mounted displays are highly efficient during training regimes and in locations with poor visibility. Further, based on the region, the North American region is likely to emerge as one of the dominant regions in the market. The North American market’s growth is also fueled by the adoption of new technology and the presence of significant companies. Many companies across North America are investing in HMDs. The pandemic has also had an impact on the HMD market in North America, resulting in a major loss for the HMD market. The automotive, transportation, retail, agriculture, and construction sectors in the region were severely disrupted, resulting in the entire or partial shutdown of manufacturing units.
Further, Sony Corp. (Japan), Google Inc. (US), Microsoft Corp. (US), Oculus VR (US), HTC Corporation (Taiwan), Seiko Epson Corporation (Japan), Samsung Electronics Co. Ltd. (South Korea), Lenovo Group Ltd. (China), Magic Leap Inc. (US), Vuzix (US), Panasonic Corp. (Japan), and Xiaomi Corp. (China) among others some of the key players operating in the market. The prominent players operating in the market are constantly adopting various growth strategies in order to stay afloat in the market. for an instance, in April 2021, Microsoft received a USD22.0 billion contract from the US Army for the manufacturing of AR Gears. Under the terms of the contract, it would begin producing Integrated Augmentation Systems for the army for a span of ten years. Such activities done by the key players operating in the market is likely to aid the global head mounted display market growth during the forecast period.
The report published by SkyQuest Technology Consulting provides in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions.
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SkyQuest has segmented the Global Head Mounted Display Market based on Type, Technology, Application, and Region:
- Head Mounted Display Type Outlook (Revenue, USD Million, 2021 – 2027)
- Slide-On Head Mounted Displays
- Discrete Head Mounted Displays
- Integrated Head Mounted Displays
- Head Mounted Display Technology Outlook (Revenue, USD Million, 2021 – 2027)
- Augmented Reality
- Virtual Reality (VR)
- Head Mounted Display Application Outlook (Revenue, USD Million, 2021 – 2027)
- Consumer, Commercial
- Enterprise and Industry
- Engineering & Design
- Aerospace & Design
- Head Mounted Display Regional Outlook (Revenue, USD Million, 2021 – 2027)
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Central & South America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of MEA
List of Key Players of Head Mounted Display Market
- Sony Corp. (Japan)
- Google Inc. (US)
- Microsoft Corp. (US)
- Oculus VR (US)
- HTC Corporation (Taiwan)
- Seiko Epson Corporation (Japan)
- Samsung Electronics Co. Ltd. (South Korea)
- Lenovo Group Ltd. (China)
- Magic Leap Inc. (US)
- Vuzix (US)
- Panasonic Corp. (Japan)
- Xiaomi Corp. (China)
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