Head-mounted Display Market size is estimated to reach USD 460 Billion by the end of 2035, growing at a CAGR of 45% during the forecast period, i.e., 2023-2035. In the year 2023, the industry size of head mounted devices was over USD 5.3 Billion. The growth of the market can primarily be attributed to the skyrocketing adoption of AR and VR across the globe. For instance, more than 150 million people were observed to be using VR globally in 2018, while in 2020, approximately 50 million VR and 80 million AR users were stated to be living solely in the USA. Along with this, less cost of microdisplays, increasing demand for lightweight helmet mounted displays, and their portable nature drives the Head-mounted Display (HMD) Market growth.
Furthermore, the global market is further projected to grow on the back of the rising inclination of people toward the virtual world over the forecast period. Additionally, ongoing development in the gaming industry has spurred the demand for head mounted devices. Head mounted devices are basically small displays & devices that are mounted on a hat or helmet and integrated into eyewear. Such devices do not block the vision of the user but project a virtual image in the real world to be witnessed. For instance, the unit sale of VR head-mounted devices was estimated for mobile at about 70% and for PCs, it was projected to be around 22% in 2020.
Growth Drivers
Challenges
|
Base Year |
2022 |
|
Forecast Year |
2023-2035 |
|
CAGR |
45% |
|
Base Year Market Size (2023) |
USD 5.3 Billion |
|
Forecast Year Market Size (2035) |
USD 460 Billion |
|
Regional Scope |
|
Connectivity Type (Wired, Wireless)
The global Head-mounted Display Market is segmented and analyzed for demand and supply by connectivity type into wired and wireless, out of which, the wireless segment is expected to hold the largest HMD Market share over the forecast period. Escalating adoption of WLAN and other devices such as smartphones, remote control, TV, GPS system, and radios are anticipated to hike the growth of the segment during the forecast period. For instance, more than 20 billion devices were anticipated to be connected via a wireless local area network (WLAN) in 2021.
Our in-depth analysis of the global Head-mounted Display Market includes the following segments:
|
By HMD Type |
|
|
By Product Type |
|
|
BY Technology |
|
|
By Connectivity Type |
|
|
By Application |
|
North America Market Forecast
The North America region Head-mounted Display Market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2035. The growth of the market in the region is ascribed to the presence of a huge online gaming audience. As of 2020, approximately 150 million adults in North America are involved in online gaming making it up to around 65% of the entire population. Furthermore, the presence of major key players and the increasing adoption of the latest technology is also anticipated to hike the growth of the HMD Market in the region over the forecast period. Moreover, the Asia Pacific region is further projected to hold the second largest share in the global head-mounted devices market over the forecast period on the back of the rising investment by major companies to develop the requisite technology.
Meta Platforms, Inc. to launch new Meta portal productivity tools to facilitate support for the Duet Display app. This app is utilized by users to turn Meta Portal Go and Meta Portal Plus (Gen 2) into a second display for juggling hardcore tasks on multiple apps and screens.
· Sony Corporation collaborates with Niantic Inc., an augmented reality (AR) mobile game developer, to develop auditory AR for headphones. Sony corporation is on its way to introducing technology for headphones that allow users to hear sound from the real world while receiving sound from the virtual world.
Author Credits: Abhishek Verma, Hetal Singh
FREE Sample Copy includes market overview, growth trends, statistical charts & tables, forecast estimates, and much more.
Have questions before ordering this report?