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ELECTRONICS & SMART DEVICES

Head Mounted Devices Market Segmentation by Technology (Augmented Reality, and Virtual Reality); by Connectivity (Wired, and Wireless); and by Application (Commercial, Consumer, Enterprise, Military, and Others) – Global Demand Analysis & Opportunity Outlook 2029

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Extensive insights into the Growth of Head Mounted Devices Market amidst COVID-19

Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.

Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.

We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.

In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months.                                                         Request Insights

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Head Mounted Devices Market Highlights 2020 – 2029

The head mounted devices (HMD) market is estimated to grow at a significant CAGR over the forecast period, i.e., 2021 – 2029. The growth of the market can be attributed to the increasing adoption of virtual reality (VR) and augmented reality (AR) technologies, surging demand for lightweight helmet-mounted displays and growing investment by leading market players. Rising advent of mobile based AR applications and rapid technological advancements in terms of impact on eyes are another factors predicted to accompany market growth in the coming years. Augmented reality market is evaluated to occupy a sizeable amount of revenue by the end of 2021, amounting to approximately USD 9 million. Along with these, the escalating penetration of smartphones and tablets, and increasing emphasis of vendors to reduce price of head mounted devices are projected to provide ample opportunities to the growth of the market during the forecast period.

The market is segmented by technology into augmented reality and virtual reality, out of which, the augmented reality segment is anticipated to grow by the highest CAGR over the forecast period in the head mounted devices market on account of increasing applications of AR smart glasses in enterprises as these devices are able to offer a wide range of functionalities such as visualized data and ease in performing multiple activities at a time on desktops. In addition to this, based on application, the segment for enterprise is projected to occupy a notable share in the market over the forecast period owing to the growing usage of HMD in manufacturing, assembling, training and warehouses. Moreover, many businesses are adopting AR to enhance customer experience which involves enticing the consumers to purchase products by using immersive and interactive visuals. This is another factor driving growth of this market segment in the future.

Head Mounted devices Market GraphGlobal Head Mounted Devices Market Regional Synopsis

On the basis of geographical analysis, the head mounted devices market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa. The market in Asia Pacific region is anticipated to witness noteworthy growth over the forecast period on the back of rising expansion of the electronics industry, availability of cheap labor with appropriate skillset and the growing number of market players in the region, especially in countries such as China, Japan and Korea. It was estimated that China spent more than USD 5.5 billion on AR/VR in 2020. However, North America is expected to occupy the largest share in the market accounting to the hike in demand from military, medical and security sectors. Apart from this, the United States is a home to some of the biggest market players of the HMD industry, which is also responsible for boosting further progress of the market in this region. CLICK TO DOWNLOAD SAMPLE REPORT   

Head mounted deviceThe head mounted devices market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis

Market Segmentation

Our in-depth analysis of the head mounted devices market includes the following segments:

By Technology

  • Augmented Reality
  • Virtual Reality

By Connectivity

  • Wired
  • Wireless

By Application

  • Commercial
  • Consumer
  • Enterprise
  • Military
  • Others

Growth Drivers

  • Growing Adoption of VR and AR technologies
  • Increasing Demand for Head Mounted Devices in the Military and Industrial Sectors

Challenges

  • Absence of a Standardized Design for HMD

Top Featured Companies Dominating the Market

  • SONY ELECTRONICS INC. (SEL)
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis 
  • Samsung Electronics Co., Ltd.
  • Facebook Technologies, LLC. (Oculus VR)
  • Shoogee GmbH & Co. KG
  • Microsoft Corporation
  • Kopin Corporation
  • HTC Corporation
  • Collins Aerospace
  • MicroVision, Inc.
  • BAE Systems, Inc.

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