What is the global market size of Head Mounted Display Market?

Global Head Mounted Display Market size was valued at USD 3.65 Billion in 2021 and is poised to grow from USD 5.33 Billion in 2022 to USD 110.02 Billion by 2030, at a CAGR of 46% during the forecast period (2023-2030).

Who are the key vendors in the Global Head Mounted Display Market?

The market is fragmented in nature. The prominent players operating in the market are constantly adopting various growth strategies in order to stay afloat in the market. Product launches, innovations, mergers and acquisitions, collaborations and partnerships, intensive R&D are some of the growth strategies that are adopted by these key players to thrive in the competitive market. The key market players are also constantly focused on R&D in order to supply industries with the most efficient and cost-effective solutions. 'Sony Corporation (Japan) ', 'Samsung Electronics Co., Ltd. (South Korea) ', 'HTC Corporation (Taiwan) ', 'Oculus VR (Facebook Technologies, LLC) (US)', 'Microsoft Corporation (US)', 'Google LLC (US)', 'Apple Inc. (US)', 'Vuzix Corporation (US)', 'Avegant Corporation (US)', 'Daqri LLC (US)', 'Kopin Corporation (US)', 'Epson America, Inc. (US)', 'Lenovo Group Limited (China)', 'Huawei Technologies Co., Ltd. (China)', 'LG Electronics Inc. (South Korea)', 'Pimax Technology (China)', 'Razer Inc. (Singapore)', 'Seiko Epson Corporation (Japan)', 'Sulon Technologies Inc. (Canada)', 'Zeiss Group (Germany)'

Head Mounted Display Market Size

Head Mounted Display Market Insights

Global Head Mounted Display Market size was valued at USD 7.3 billion in 2023 and is poised to grow from USD 9.39 billion in 2024 to USD 70.22 billion by 2032, growing at a CAGR of 28.6% during the forecast period (2025-2032).

Over the next seven years, the head-mounted display industry is anticipated to develop due to decreased microdisplay prices and strong demand for helmet-mounted displays across all application sectors. A promising growth potential for the mobile industry is anticipated to result from increasing demand for mobile-based AR apps for 3D scene assembly.

The development of portable wearable technology has stimulated an increase in innovation within the head-mounted display (HMD) market. With the development of lightweight screens, producers all around the world have begun to position HMD as a consumer good. By analyzing the precise placements of various components and communicating customisation to designers, people can take part in virtual car designing, giving purveyors a significant chance. The market is still in its formative stages.

For a few years, the expansion of the industry has been constrained by a lack of understanding of the various medical applications for stereoscopic imaging, especially in poor countries. Additionally, the development of the industry for defense-based applications is being hampered by a lack of knowledge regarding the potential dangers caused by obstructing line of sight, which is a result of huge wearable displays. Industry expansion is being hampered by a lack of standardization in components like orientation sensors. It is necessary to design standardized evaluation procedures for both whole systems and individual parts. In order to improve the market, simulator sickness related to general discomfort, eyestrain, perceptual constancy, dark focus, and effect of darkness needs to be addressed.

The global adoption of head mounted displays is a result of the rising popularity of augmented reality and virtual reality technology in consumer and corporate solutions. In the next few years, it is predicted that this aspect will fuel the expansion of the worldwide head mounted display market. In order to eliminate the requirement that a user be physically present in every area, advanced technologies like virtual reality and augmented reality are being adopted more frequently.

US Head Mounted Display Market is poised to grow at a sustainable CAGR for the next forecast year.

FAQs

The market is fragmented in nature. The prominent players operating in the market are constantly adopting various growth strategies in order to stay afloat in the market. Product launches, innovations, mergers and acquisitions, collaborations and partnerships, intensive R&D are some of the growth strategies that are adopted by these key players to thrive in the competitive market. The key market players are also constantly focused on R&D in order to supply industries with the most efficient and cost-effective solutions. 'META (US) ', 'Microsoft (US) ', 'Sony Group Corporation (Japan) ', 'Magic Leap, Inc. (US) ', 'Seiko Epson Corporation (Japan) ', 'Samsung (South Korea) ', 'HTC (Taiwan) ', 'ByteDance (Pico Technology Co. Ltd.) (China) ', 'DPVR (China) ', 'Vuzix (US) ', 'Lenovo (China) ', 'BAE Systems (UK) ', 'HP Development Company, L.P. (US) ', 'Varjo (Finland) ', 'Valve Corporation (US) ', 'RealWear, Inc. (US) ', 'Thales (France) ', 'Panasonic Holdings Corporation (Japan) ', 'Pimax Inc. (China) ', 'Goovis (China)'

The major aspect that drives the growth of the market includes the growing popularity of head mounted displays across various industries. In video games, HMDs have a high penetration rate as they improve the gaming experience. PlayStation (PS) has increased the popularity of head-mounted displays. Head Mounted Displays project digital images, allowing for a 3D vision, which improves the quality of gaming by projecting visuals and game screens that look like real-world images.

Micro-displays, for example, provide a wide field of view, a high-quality projected image, and compatibility with head-mounted displays. By incorporating micro-display technology into head mounted displays, HMDs become lightweight, smart, flexible, low latency, and simple to use. HMD manufacturers, such as Oculus VR, are focusing on reducing latency in their products. When connected to a smartphone, Recon Jet is a high-performance sportswear that displays performance metrics. The Sony HMZ-T3W wireless Personal 3D viewer is an example of an upgraded OLED Micro-display with twin OLED screens that support HD displays.

Based on the geographical viewpoint, the global Head-Mounted Displays market is segmented into North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. In 2021, North American region is projected to hold the most substantial share of 28% in the market and grow at a fastest CAGR during the forecast period. The regional growth of the market is attributed to the heavy investments done by the market players in the region. The rapid adoption of new technologies by the consumers in the regions is another factor that contributes to the market growth.