The global head mounted displays (HMDs) market was valued at USD 887.5 Million in 2014 and is anticipated to reach at USD 13,168 Million by 2020,
The global head mounted devices market is segmented into application such as video gaming, defense, medical, engineering, construction and others. Among these segments, defense segment is expected to occupy the top position in head mounted devices market during the forecast period. Increasing utilization of head mounted displays for training and simulation purposes is anticipated to supplement the growth of defense segment. Furthermore, developed and developing nations such as U.S., Israel, India and others are focusing more on the army technologies to strengthen the defense sector of the nation. This factor is expected to drive the growth of the head mounted devices in defense market.
Global head mounted devices market is expected to flourish at a robust CAGR over the forecast period. Moreover, the global head mounted devices market is anticipated to garner noteworthy revenue by the end of 2021. Wide scale application of head mounted display such as in consumer electronics, industry application and others are believed to be the major factor behind the growth of Head Mounted Devices Market during the forecast period.
North America accounted for the largest market in overall head mounted devices market in 2016. Moreover, North America is anticipated to continue its dominance over the forecast period owing to the surging adoption of VR and AR headsets for gaming and entertainment purposes. Moreover, high disposable income of the population and high adoption rate of advanced technological products are some of the key factors propelling the growth of head mounted devices market in the region. A part from this, high expenditure on defense and military sector is expected to positively impact the growth of the head mounted devices. Asia Pacific is anticipated to grow at witness lucrative growth during the forecast period. Presence of key manufacturing companies in the region is expected to strengthen the growth of the head mounted devices market.
Increasing Demand For Head Mounted Display in Consumer Electronics
Rising demand for head mounted displays by individual consumers for gaming and entertainment application is predicted to fuel the growth of head mounted display market. Moreover, factors such as portability, light weight and low cost are anticipated to augment the growth of head mounted devices market.
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Technological Advancement & Development
Technological advancements such as 3D view, lightweight display, quick response mechanism and higher image quality are anticipated to be the dynamic factor behind the growth of the head mounted devices market. Furthermore, reduction in the price of the micro display component has led to drop in the price of head mounted displays which further is expected to augment the demand for head mounted displays.
Although, lack of awareness regarding wide scale application of head mounted displays and lack of component standardization regulations are some of the factors that are likely to inhibit the growth of the Global Head Mounted Devices Market in the near future.
The report titled “Head Mounted Devices Market: Global Demand Analysis & Opportunity Outlook 2021 ” delivers detailed overview of the global Head mounted devices market in terms of market segmentation by product, by application, by technology, by component and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
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This report also provides the existing competitive scenario of some of the key players of the global head mounted devices market which includes company profiling of Sony Corporation, Google Corporation, Oculus VR, Samsung Electronics Co. Ltd., Rockwell Collins, BAE Systems, Seiko Epson Corporation, Kopin Corporation, Recon Instruments, Inc. and Sensics, Inc. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global Head mounted devices market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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Source: EIN Presswire