Head-Mounted Display Market estimated to be worth $32.0 billion by 2025

(IT-NEWSWIRE.COM, July 16, 2019 ) According to the market research report on the "Head-Mounted Display Market by Technology (AR, VR), Application (Consumer, Commercial, Enterprise & Industry, Engineering & Design, Military, Medical), Product (Head Mounted, Eyewear), Component, Connectivity, and Geography – Global Forecast to 2025", the market was valued is expected to reach USD 32.0 billion by 2025, at a CAGR of 36% between 2017 and 2025. The increasing adoption of AR and VR technologies and availability of low-cost HMDs are the major drivers for the HMD market.

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“Consumer application expected to hold major share of HMD market during forecast period“

The use of VR HMDs is increasing since these headsets are highly used in applications such as consumer, gaming, entertainment, museum, and theme park. VR headsets provide the user an immersive experience. The HMD market is driven because of the high demand for VR HMDs in applications such as PC games, consoles, and smartphones. In all these applications, virtual reality plays a vital role in enhancing the user’s gaming experience. The consumer application is expected to continue to lead the market for VR headsets.

“HMD market for augmented reality technology expected to grow at high CAGR between 2017 and 2025”

Increasing importance of AR HMDs or smart glasses in the enterprise and industry application is expected to drive the market. The use of AR headsets is rising in training, logistics and warehouse, manufacturing, assembling, education, and many other applications, which boosts the market for AR headsets. For example, AR headsets are being used in the logistics application to provide a quick access to information anytime and anywhere. In addition, the AR headset can reduce the amount of time required to train new employees. In HMD, the flexibility obtained by augmented reality technology makes it a leader for the enterprise and industry application.

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“APAC expected to hold major share of HMD market between 2017 and 2025”

APAC is expected to hold the largest share of the HMD market during the forecast period. Government support and initiatives to grow AR-VR industry, growing number of start-up HMD players and increasing presence of international players in APAC, rising adoption of low cost HMDs are some of the factors that drive the growth of market. The Chinese VR market has seen huge investments, partnerships, and new ventures—wherein both local and international players have capabilities for low-cost and mass-scale manufacturing. APAC is home to many leading companies such as HTC Corporation (Taiwan), Sony Corporation (Japan), Lenovo Group Ltd. (China), Acer Inc. (Taiwan), Xiaomi, Inc. (China), and LG Electronics Inc. (South Korea).

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Major players in the HMD market are Samsung Electronics Co., Ltd. (South Korea), Sony Corporation (Japan), HTC Corporation (Taiwan), Oculus VR, LLC (US), Microsoft Corporation (US), BAE Systems, Inc. (US), Seiko Epson Corporation (Japan), Google Inc. (US), Kopin Corporation (US), Osterhout Design Group (US), Recon Instruments, Inc. (Canada), Rockwell Collins, Inc. (US), Sensics, Inc. (US), Thales Visionix, Inc. (US), and Vuzix Corporation (US). It also includes start-up companies such as Avegant Corporation (US), Beijing ANTVR Technology Co., Ltd. (China), FOVE, Inc. (US), Magic Leap, Inc. (US), and Shoogee GmbH & Co. KG (Germany).

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Head-Mounted Display Market estimated to be worth $32.0 billion by 2025