Head Mount Display Global Market Report 2024

A head-mounted display (HMD) is a wearable device that presents visual information directly in front of the user's eyes. It typically features one or two small displays and is capable of delivering immersive experiences. HMDs are commonly employed in virtual reality (VR) and augmented reality (AR) applications. These devices often incorporate various sensors to track head movements, thereby enhancing interactivity and the realism of displayed content.

There are three primary types of head-mounted displays, slide-on, integrated, and discrete. Slide-on HMDs are devices that can be attached to existing headgear such as helmets or glasses, offering users a versatile option to transform their conventional headgear into a smart device suitable for augmented or virtual reality experiences. The components of HMDs encompass processors, memory, displays, lenses, sensors, controllers, cameras, cases, and connectors, integrated with technologies such as augmented reality (AR), virtual reality (VR), and mixed reality (MR). These products are equipped with both wired and wireless connectivity and find applications across various sectors including consumer electronics, aerospace and defense, enterprise, commercial industries, automotive, energy, and others.

The head mount display market research report is one of a series of new reports that provides head mount display market statistics, including head mount display industry global market size, regional shares, competitors with an head mount display market share, detailed head mount display market segments, market trends and opportunities, and any further data you may need to thrive in the head mount display industry. This head mount display market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The head mount display market size has grown exponentially in recent years. It will grow from $15.37 billion in 2023 to $18.47 billion in 2024 at a compound annual growth rate (CAGR) of 20.2%. The growth observed in the historic period can be attributed to the demand from the gaming industry, applications in military and defense, healthcare and medical training, industrial and enterprise sectors, growth in consumer electronics, and the entertainment and media industries.

The head mount display market size is expected to see exponential growth in the next few years. It will grow to $38.7 billion in 2028 at a compound annual growth rate (CAGR) of 20.3%. The anticipated growth in the forecast period can be attributed to increased adoption within the automotive industry, driven by consumer demand for in-vehicle connectivity and regulatory support for safety enhancements, along with expanding applications in education and training. Key trends expected in the forecast period include technological advancements, enhanced safety features, integration with Advanced Driver Assistance Systems (ADAS), advancements in augmented reality (AR) and virtual reality (VR) technologies, broader adoption in enterprise and industrial sectors, cost reduction initiatives, and improved affordability.

The head-mounted display market is set to benefit from the expanding gaming industry. Gaming involves creating, promoting, and monetizing video games across various platforms such as consoles, PCs, and mobile devices. This sector is growing due to advancements in technology, increased accessibility to gaming platforms, and rising demand for immersive entertainment. Head-mounted displays enhance gaming experiences by immersing players in virtual reality environments. For example, in February 2024, the Entertainment Software Association reported that total video game sales reached $57.2 billion in 2023, up from $56.6 billion in 2022, driven by higher spending on game content, which rose to $48 billion from $47.5 billion.

Leading companies in the head-mounted display market are focusing on innovation, such as developing mixed-reality head-mounted displays (HMDs). These devices combine elements of augmented reality (AR) and virtual reality (VR), enabling users to interact with both digital and real-world environments simultaneously. For instance, Vrgineers Inc. introduced the XTAL 3 CAVU in December 2023, a mixed reality HMD designed to enhance performance by reducing latency and improving image quality. It features advanced components such as 24 Mpix image sensors and direct connections to cutting-edge graphics cards.

In February 2021, Metamaterial Inc., a Canadian company specializing in optical solutions, acquired assets and intellectual property from Interglass Technology AG for $800,000. This acquisition includes specialized lens casting equipment and over 35 patents, enhancing META's capabilities in designing and manufacturing metaFusion products for smart eyewear. Interglass Technology AG, based in Switzerland, is known for its advancements in head-mounted display technology.

Major companies operating in the head mount display market are Apple Inc., Google LLC, Microsoft Corporation, Samsung Electronics Co. Ltd., Sony Corporation, RTX Corporation, Lenovo Group Limited, Lockheed Martin Corporation, LG Electronics Inc., Panasonic Holdings Corporation, Hewlett-Packard Company, BAE Systems, Seiko Epson Corporation, Razer Inc., Japan Display Inc., Magic Leap Inc., Oculus VR, HTC Corporation, Pimax Technology Co. Ltd., Varjo Technologies, Kopin Corporation, eMagin Corporation, Recon Instruments, Thales Visionix Inc., Vuzix Corporation, Avegant Corporation, DAQRI.

North America was the largest region in the head mount display market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the head mount display market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the head mount display market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The head mount display market consists of sales of virtual reality (VR) headsets, gaming consoles, smart augmented (AR) glasses, and wearable computing glasses. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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