Knowledge Sourcing Intelligence announces the publication of a new report on “Head Mounted Display Market - Forecasts from2020 to 2025" to their offering.
Head mounted displays are electronic display devices that are worn over the head like a helmet. The market for head mounted displays is projected to show a rapid growth throughout the forecast period on account of burgeoning adoption of these displays across various industries.
According to the report, the Head Mounted Display Market is projected to increase at a CAGR of 34.60% in the coming years.
Booming adoption across different industries
The prime factor that is significantly boosting the market growth throughout the forecast period is the burgeoning acceptance of these types of displays across various industry verticals that majorly include the aviation and defense, and the healthcare sector primarily for simulation applications as these displays have the ability to simulate real-world and complex scenarios. Thus delivering various advantages for research and training purposes. Furthermore, rapid product innovations have led to the development of new and advanced products with enhanced features is also playing a significant role in driving the adoption of head mounted displays across various industries. The heavy inflow of investments by major players of the market in R&D for developing products with no health risks to the users with an aim to attract more users and tap the growing potential that the market holds is also a key factor shaping up the head mounted display market growth in the next five years. This statement can be backed up by the fact that, in September 2019, Huawei Research Center in Europe collaborated with the engineers of the Cambridge university to develop AR HMD technology that will have the ability to showcase immense 3D experience to its users by without causing in strain on the eyes or nausea.
The market for these displays has been segmented into technology, product, connectivity, display, industry vertical, and geography. Technologically, the segmentation of the market has been done into virtual reality and augmented reality. On the basis of product, the classification is done into head-mounted and eyewear. By, connectivity, the market has been segmented into wired and wireless. By display type, the market has been distributed into Slide-On HMDs, Discrete HMDs, and Integrated HMDs. Industry-wise, the market has been segmented as aviation and defense, media and entertainment, manufacturing, healthcare, education, and others. Geographically, aviation and defense, media and entertainment, manufacturing, healthcare, education, and others.
The North American region is projected to hold a substantial share in the market throughout the forecast period. The major factor supplementing the share of this segment includes the early adoption of technology across the various industry verticals coupled with the presence of world-class infrastructure across these industries. Furthermore, the booming military spending along with the rising expenditure across the healthcare sector is also supplementing the growth in the North American region in the coming years. Moreover, the presence of key market players in the region is also a major driving factor for the head mounted display market to grow in the North American region throughout the course of the next five years.
The major players covered as part of the report are Kopin Incorporation, BAE Systems, Microsoft Corporation, Sony Corporation, and Fujitsu Ltd. among others.
View a sample of the report or purchase the complete study at https://www.knowledge-sourcing.com/report/head-mounted-display-market
This report has segmented the head mounted display market on the basis following terms: