Head Mounted Display Market by Type, Technology, Component, Connectivity, Application

List of Tables

[180 Pages Report] The Head Mounted Display Market size was estimated at USD 6.25 billion in 2023 and expected to reach USD 7.90 billion in 2024, at a CAGR 26.99% to reach USD 33.33 billion by 2030.

A head-mounted display (HMD) is a wearable device with a small display optic in front of one or both eyes. An HMD consists of a headset or glasses with a screen or projection setup and the necessary electronics and lenses to present high-quality visual information to the wearer. HMDs are designed to provide immersive viewing experiences, and they can be used for various applications, including virtual reality (VR), augmented reality (AR), mixed reality (MR), and other immersive computing experiences. Increased demand for immersive experiences in gaming and entertainment, growing applications in military and aerospace, and advancements in healthcare that require precise imaging for surgeries and diagnostics can increase the adoption of head-mounted displays (HMD). However, the technological limitations regarding battery life, field of view, resolution, and the high cost associated with the HMD display limit the market expansion. Collaborations with educational sectors for interactive learning and the emergence of extended reality (XR) that blends VR, AR, and MR and innovations and integration of new advanced display technology are expected to create new opportunities for HMD applications.

KEY MARKET STATISTICS
Base Year [2023]	USD 6.25 billion
Estimated Year [2024]	USD 7.90 billion
Forecast Year [2030]	USD 33.33 billion
CAGR (%)	26.99%

Regional Insights

The head mounted display (HMD) market is evolving in the Americas due to strong investments in virtual reality (VR) and augmented reality (AR) technologies, substantial military spending on advanced training tools, and the presence of the entertainment industry keen on adopting the latest technologies. Furthermore, patent filings for improved display technologies and user interfaces catering to diverse HMD usage and collaborations between tech companies and universities for advanced HMD research may increase the demand for the head mounted display market in the Americas. The Asia-Pacific region is showcasing growth in the HMD large-scale manufacturing capabilities and significant government support for AR/VR initiatives, with a vast consumer base adopting these technologies for entertainment and industrial applications. In addition, an expanding middle class and burgeoning tech-savvy youth population contribute to the increasing demand for affordable HMD solutions in the Asia-Pacific region. The EMEA region, including the European Union countries, the Middle East, and Africa, has stringent regulations that drive the need for high-quality, compliant HMDs. Furthermore, EU-funded research projects focused on developing next-generation HMDs that prioritize user comfort and energy efficiency may create the potential for the growth of HMDs in European Union countries. The Middle East is witnessing a digital transformation with significant investments in smart city projects incorporating AR/VR applications. The HMD market is poised to grow, with luxury consumer segments showing interest in high-end devices.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the Head Mounted Display Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers
- Increasing demand for immersive experiences in gaming and entertainment
- Growing applications of head-mounted displays in military and aerospace
- Emergence of extended reality that blends VR, AR, and mixed reality

Market Restraints
- Technological limitations regarding battery life and field of view coupled with high-cost

Market Opportunities
- Expanding application of head-mounted displays in the healthcare sector
- Ongoing technological advancements in head mounted displays

Market Challenges
- Concerns associated with privacy and data security

Market Segmentation Analysis
- Type: Burgeoning utilization of slide-on HMDs owing to their highly portable and easily accessible nature
- Technology: Increasing usage of virtual reality (VR) HMDs owing to their complete immersion in the virtual environment
- Component: Cameras, lightweight cases, and intuitive controllers provide a comfortable user experience
- Connectivity: Proliferating use of wireless head mounted displays due to the advantage in mobility
- Application: Evolving applications of head mounted displays (HMDs) in aerospace and defense sector

Market Disruption Analysis
Porter's Five Forces Analysis
Value Chain & Critical Path Analysis
Pricing Analysis
Technology Analysis
Patent Analysis
Trade Analysis
Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Head Mounted Display Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Head Mounted Display Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

Vrgineers Unveils New Mixed Reality HMD

Vrgineers unveiled the MR XTAL head-mounted display, advancing the boundaries of mixed reality technology. The XTAL 3 CAVU distinguishes itself by stripping away multiple processing stages, resulting in significantly lower latency and heightened performance. Furthermore, the new mixed reality HMD possesses a lightweight carbon fiber construction and dual image sensors yielding over 24 megapixels of full 12 bit color at over 100 Hz refresh rates. [Published On: 2023-12-07]

HTC files patent for head-mounted display device with two sensors at different angles

HTC filed a patent for its innovation in immersive technology with the introduction of a novel head-mounted display. This cutting-edge device is designed with a pair of strategically positioned sensors located on separate regions of the chassis. Each sensor aligns with a unique central point on a horizontal plane, with the interconnecting lines to these central points forming distinct angles relative to the horizontal. [Published On: 2023-11-29]

Sony Releases New High-Definition 4K OLED Microdisplay for VR & AR Head-Mounted Display Applications

Sony Semiconductor Solutions Corporation unveiled the ECX344, a 1.3 type OLED Microdisplay that offers 4K ultra high definition, setting a new standard for VR and AR head-mounted displays. This product ensures immersive virtual experiences with photo-realistic image quality by leveraging Sony's advancements in miniaturization, pixel drive circuits, and high-speed drivers, allowing for smooth visuals up to 90 fps. [Published On: 2023-11-23]

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Head Mounted Display Market. This critical assessment involves a thorough analysis of the organization's resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Head Mounted Display Market, highlighting leading vendors and their innovative profiles. These include Apple Inc., BAE Systems PLC, Bertec Corporation, ByteDance Ltd., Collins Aerospace by RTX Corporation, Dispelix Oy, Elbit Systems Ltd., Excelitas Technologies Corp., Fujitsu Limited, Garmin Ltd., GE HealthCare Technologies Inc., Hitachi Ltd., Honeywell International Inc., HP Inc., HTC Corporation, Japan Display Inc., JVC KENWOOD Corporation, Konica Minolta, Inc., Lenovo Group Limited, Lynx Mixed Reality, Magic Leap, Inc., Mediview XR, Inc., Meta Platforms, Inc., Microsoft Corporation, NVIDIA Corporation, RealWear, Inc., Samsung Electronics Co., Ltd., Seiko Epson Corp., Sharp Corporation, SONY GROUP CORPORATION, STMicroelectronics N.V., Thales S.A, Varjo Technologies Oy, Virtual Realities, LLC, Vuzix Limited, and Zebra Technologies Corporation.

Market Segmentation & Coverage

This research report categorizes the Head Mounted Display Market to forecast the revenues and analyze trends in each of the following sub-markets:

Type
- Discrete
- Integrated
- Slide-on

Technology
- Augmented Reality
- Mixed Reality
- Virtual Reality

Component
- Cameras
- Cases & Connectors
- Controllers
- Displays
- Lenses
- Processor & Memories
- Sensors

Connectivity
- Wired
- Wireless

Application
- Aerospace & Defense
- Automotive
- Gaming & Entertainment
- Healthcare
- Manufacturing

Region
- Americas
  - Argentina
  - Brazil
  - Canada
  - Mexico
  - United States
    - California
    - Florida
    - Illinois
    - New York
    - Ohio
    - Pennsylvania
    - Texas
- Asia-Pacific
  - Australia
  - China
  - India
  - Indonesia
  - Japan
  - Malaysia
  - Philippines
  - Singapore
  - South Korea
  - Taiwan
  - Thailand
  - Vietnam

Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom

Product Code: MRR-A42893A5990D

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Increasing demand for immersive experiences in gaming and entertainment
  - 5.1.1.2. Growing applications of head-mounted displays in military and aerospace
  - 5.1.1.3. Emergence of extended reality that blends VR, AR, and mixed reality
- 5.1.2. Restraints
  - 5.1.2.1. Technological limitations regarding battery life and field of view coupled with high-cost
- 5.1.3. Opportunities
  - 5.1.3.1. Expanding application of head-mounted displays in the healthcare sector
  - 5.1.3.2. Ongoing technological advancements in head mounted displays
- 5.1.4. Challenges
  - 5.1.4.1. Concerns associated with privacy and data security
5.2. Market Segmentation Analysis
- 5.2.1. Type: Burgeoning utilization of slide-on HMDs owing to their highly portable and easily accessible nature
- 5.2.2. Technology: Increasing usage of virtual reality (VR) HMDs owing to their complete immersion in the virtual environment
- 5.2.3. Component: Cameras, lightweight cases, and intuitive controllers provide a comfortable user experience
- 5.2.4. Connectivity: Proliferating use of wireless head mounted displays due to the advantage in mobility
- 5.2.5. Application: Evolving applications of head mounted displays (HMDs) in aerospace and defense sector
5.3. Market Trend Analysis
- 5.3.1. Growing preference for head-mounted display (HMD) in military & defense in Americas region
- 5.3.2. Presence of regional manufacturers and ongoing advancements in head mounted display across Asia-Pacific
- 5.3.3. Government initiative coupled with innovations in HMDs in EMEA region
5.4. Cumulative Impact of High Inflation
5.5. Porter's Five Forces Analysis
- 5.5.1. Threat of New Entrants
- 5.5.2. Threat of Substitutes
- 5.5.3. Bargaining Power of Customers
- 5.5.4. Bargaining Power of Suppliers
- 5.5.5. Industry Rivalry
5.6. Value Chain & Critical Path Analysis
5.7. Regulatory Framework Analysis

6. Head Mounted Display Market, by Type

6.1. Introduction
6.2. Discrete
6.3. Integrated
6.4. Slide-on

7. Head Mounted Display Market, by Technology

7.1. Introduction
7.2. Augmented Reality
7.3. Mixed Reality
7.4. Virtual Reality

8. Head Mounted Display Market, by Component

8.1. Introduction
8.2. Cameras
8.3. Cases & Connectors
8.4. Controllers
8.5. Displays
8.6. Lenses
8.7. Processor & Memories
8.8. Sensors

9. Head Mounted Display Market, by Connectivity

9.1. Introduction
9.2. Wired
9.3. Wireless

10. Head Mounted Display Market, by Application

10.1. Introduction
10.2. Aerospace & Defense
10.3. Automotive
10.4. Gaming & Entertainment
10.5. Healthcare
10.6. Manufacturing

11. Americas Head Mounted Display Market

11.1. Introduction
11.2. Argentina
11.3. Brazil
11.4. Canada
11.5. Mexico
11.6. United States

12. Asia-Pacific Head Mounted Display Market

12.1. Introduction
12.2. Australia
12.3. China
12.4. India
12.5. Indonesia
12.6. Japan
12.7. Malaysia
12.8. Philippines
12.9. Singapore
12.10. South Korea
12.11. Taiwan
12.12. Thailand
12.13. Vietnam

13. Europe, Middle East & Africa Head Mounted Display Market

13.1. Introduction
13.2. Denmark
13.3. Egypt
13.4. Finland
13.5. France
13.6. Germany
13.7. Israel
13.8. Italy
13.9. Netherlands
13.10. Nigeria
13.11. Norway
13.12. Poland
13.13. Qatar
13.14. Russia
13.15. Saudi Arabia
13.16. South Africa
13.17. Spain
13.18. Sweden
13.19. Switzerland
13.20. Turkey
13.21. United Arab Emirates
13.22. United Kingdom

14. Competitive Landscape

14.1. Market Share Analysis, 2023
14.2. FPNV Positioning Matrix, 2023
14.3. Competitive Scenario Analysis
- 14.3.1. Vrgineers Unveils New Mixed Reality HMD
- 14.3.2. HTC files patent for head-mounted display device with two sensors at different angles
- 14.3.3. Sony Releases New High-Definition 4K OLED Microdisplay for VR & AR Head-Mounted Display Applications
- 14.3.4. Surglasses Raising USD 6.5 Million in Pre-A Funding to Accelerate Development and Expansion of AR Augmented Reality Surgical Navigation System - Caduceus S
- 14.3.5. RAF Invests in BAE Systems' Most Advanced Fighter Pilot Helmet
- 14.3.6. U.S. Navy awards RTX and Elbit Systems of America a USD 16 million contract for improved F/A-18 pilot helmet mounted display systems
- 14.3.7. Honeywell (HON) to Acquire HUD Assets of Saab Technology
- 14.3.8. Apple Teases Reality Pro Specs, Disney Partnership
- 14.3.9. Sharp Develops Prototype Smartphone-Connectable Head-Mounted Display for VR
- 14.3.10. GE Healthcare, MediView XR partner to launch augmented reality X-ray imaging system
- 14.3.11. Vuzix to Provide Additional Units for Waveguide-Based HMD System

15. Competitive Portfolio

15.1. Key Company Profiles
15.2. Key Product Portfolio