Head Mounted Display Market To Reach USD 68.6 Billion By 2027

Global Head Mounted Display Market: Key Highlights

According to the new market research report “Head Mounted Display Market by Technology (VR, AR), by Display Type (LCD, OLED, Others), by Application (Tracking, Imaging, Security, Gaming, Engineering & Design), by End-User (Media & Entertainment, Aerospace & Defense, Healthcare, Education, Sports, Automobile, Tourism), by Region (North America, Asia-Pacific, Europe, Middle East & Africa, South America) – Global Forecast (2019 to 2027)”, the global head-mounted display market is estimated to reach USD 68.2 Billion by 2027 at a CAGR of around 36.2% during the review period.
Growing adoption of digitalization in every industry and rapid technological advancements are expected to boost the head-mounted display market during upcoming years
High cost of the product and changing customer’s buying behavior is expected to hamper on the growth of the market during the forecast period.

Head- mounted Display Market

Global Head Mounted Display Market: Key Market Dynamics

Growing investment of global players and the growing adoption of virtual reality (VR) and augmented reality (AR) technologies are expected to boost the market during the forecast period.
However, Battery life limitations and the temperature of the head-mounted display will restrain the head-mounted display market during the upcoming years.
Growing digitization in the educational sector is projected to become an opportunity for the market during the next seven years.
Lack of standardization and shortage of technical expertise will act as a challenge during the forecast period

Global Head Mounted Display Market: Regional Overview

Asia-Pacific

The Asia-Pacific region is expected to hold the largest market share during the forecast period. The constantly growing market for AR and VR technology is helping the growth of the head-mounted display market in this region. China, Japan, Taiwan, and South Korea are dominating the market in the Asia-Pacific region due to the presence of AR and VR technology-based product providers such as HTC Corporation, Xiaomi Corporation, Lenovo, and Sony Corporation among others. Governmental support is also propelling AR and VR growth in China. Students of Beijing University of China Medicine learn the acupuncture process with VR technology which they can use on-campus or off-campus.

North America

North America is expected to grow at a faster rate during the forecast period due to increasing investment by global players such as Google and Microsoft in research and development of head-mounted display and AR VR technologies. The US is expected to dominate the market during the upcoming years. The growing healthcare and education market is expected to drive the market in the North America region.

Global Head Mounted Display Market: Key Players Overview

Microsoft:

Microsoft engages in the provision of support and development and support of software, services, devices, and solutions. It operates through the following business segments: intelligent cloud, productivity, and business processes, and personal computing. in 2016, Microsoft launched HoloLens, an augmented reality-based head-mounted display product to stay ahead in the competition with Google, Facebook, and Samsung Electronics Co Ltd. HoloLens2 is based on mixed reality technology that combines untethered devices with apps and solutions to communicate, learn, and collaborate effectively.

Google:

Alphabet, Inc. is a holding company, which engages in the business of acquisition and operation of different companies. It operates through the Google and Other Bets segments. The Google segment includes its main Internet products such as Chrome, Ads, Android, Commerce, Google Maps, YouTube, Google Play, Google Cloud, Hardware, and Search. In the head-mounted display, the company provides Google Cardboard for a better VR experience. In 2014, Google launched Google Cardboard for experiencing VR technology. Google Cardboard works by placing your phone at the optimal distance away from the lenses. In 2017, Google has shipped 10 Million Cardboard with 160 Million cardboard applications download.

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