The head-mounted display market size is projected to reach US$ 85.68 billion by 2031 from US$ 8.62 billion in 2023. The market is expected to register a CAGR of 33.3% during 2023–2031. The implementation of HMD in gaming applications and the growing adoption of AR/VR headsets across the military sector are likely to be the key drivers and trends of the market.
The head-mounted display market is experiencing significant growth globally. This growth is attributed to factors such as the implementation of HMD in gaming applications and the growing adoption of AR/VR headsets across the military sector. Moreover, the increasing investment by major players in the development of HMDs and implementation of HMD in sports applications is anticipated to hold several opportunities for the market in the coming years.
A head-mounted display (HMD) is a type of computer display device or monitor that, as the name implies, is worn on the head or is built in as part of a helmet. This type of display is meant for a total immersion of the user in whatever experience the display is meant for, as it ensures that the display moves with the movement of the user.
AR / VR / MR is experienced through the use of special devices called HMD. Most of the HMDs are based on the stereoscopic 3D display technique. It takes advantage of a depth cue referred to as stereopsis, which is nothing, but the depth human eyes perceive because each of our two eyes sees a scene from a slightly different perspective. Gaming applications leveraging HMDs offer a highly immersive experience by creating a virtual environment that surrounds the player. This level of immersion is a major selling point and can attract both casual and hardcore gamers. Moreover, continuous improvements in HMD technology, such as better resolution, wider field of view, reduced latency, and enhanced tracking, make gaming experiences more realistic and enjoyable, encouraging more users to adopt these devices.
The increasing number of product launches by the major players in the market is anticipated to hold several opportunities for the market. New product launches often come with advanced features, improved technology, and better performance. Various product launches, such as Sony and Siemens, announced that they will launch virtual reality headsets for the latter’s industrial metaverse focus by December 2024. The product is currently integrated with Siemens’ engineering design platform NX and will be expanded to other products. Thus, a surging number of investments and launches by various major players is anticipated to drive market growth.
Key segments that contributed to the derivation of the head-mounted display market analysis are type, application, component, technology, design, and connection.
The geographic scope of the head-mounted display market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
North America has dominated the head-mounted display market. High technology adoption trends in various industries in the North American region have fuelled the growth of the head-mounted display market. Factors such as increased adoption of digital tools and high technological spending by government agencies are expected to drive the North American head-mounted display market growth. Moreover, a strong emphasis on research and development in the developed economies of the US and Canada is forcing the North American players to bring technologically advanced solutions into the market. In addition, the US has many head-mounted display market players who have been increasingly focusing on developing innovative solutions. All these factors contribute to the region's growth of the head-mounted display market.
The regional trends and factors influencing the Head-Mounted Display Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Head-Mounted Display Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 8.62 Billion |
| Market Size by 2031 | US$ 85.68 Billion |
| Global CAGR (2023 - 2031) | 33.3% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Type
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Head-Mounted Display Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Head-Mounted Display Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The head-mounted display market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the head-mounted display market are listed below:
The “Head-Mounted Display Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
The global head-mounted display market is expected to reach US$ 85.68 billion by 2031.
The key players holding majority shares in the global head-mounted display market are Microsoft, Sony, Oculus VR, Lenovo, Magic Leap Inc, BAE Systems, Seiko Epson Corporation, Samsung Electronics, Google LLC, and HTC Corporation.
The increasing implementation of HMD in sports applications is anticipated to drive the market in the forecast period.
The implementation of HMD in gaming applications and the growing adoption of AR/VR headsets across the military sector are some of the factors driving the head-mounted display market.
North America is anticipated to dominate the head-mounted display market in 2023.
The expected CAGR of the head-mounted display market is 33.3%.