At a CAGR of 46.0%, the Head-Mounted Display Market is anticipated to increase from USD 5.5 billion in 2021 to USD 36.5 billion by 2026. The market's expansion can be attributed to a number of factors, including an increase in major companies' investments in the creation of HMDs, a rise in the use of AR and VR technologies as a result of COVID-19, the availability of affordable HMDs, technological advancements, and an increase in digitalization.
The market for head-mounted displays will be dominated by integrated HMDs in 2020.
The most expensive and advanced type of HMD is an integrated HMD, often known as an optical HMD (OHMD). It can provide users with VR and AR experiences without the usage of any external hardware, such a PC or smartphone, making it an independent computing device. Among the firms that offer integrated HMDs are Microsoft Corporation (US), Magic Leap, Inc. (US), and Osterhout Design Group (US). It is anticipated that integrated HMDs would play a significant role in the growth of the overall HMD market given the increasing prevalence of HMDs and their technological advances.
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The anticipated period will see the fastest growth in augmented reality technologies.
Numerous businesses, like the gaming industry, employ mobile phones for 3D navigation with a real-time overlay of computer graphics; this is expected to propel the expansion of the AR category. This market is also anticipated to be driven by the growing importance of AR HMDs or smart glasses in commercial and industrial applications. Employees can access a variety of tools with AR headsets, including data visualisation, training films, and access to several desktop screens for executing different tasks.
In 2020, the Head-Mounted Display Market is being led by Americas.
In 2020, the market for head-mounted displays was dominated by the Americas. The main reason propelling the growth of the HMD Market in Americas has been the rising acceptance of AR and VR devices by enterprise users to increase productivity and accuracy. The market is expanding due to the usage of AR and VR technologies in consumer gadgets.
Key Players
Sony (Japan), Google (US), Microsoft (US), Oculus (US), HTC (Taiwan), Seiko Epson (Japan), Samsung (South Korea), Lenovo (China), Magic Leap (US), and Vuzix (US) are a few of the major businesses that are active in the market.
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