The Head-mounted Display Market is predicted to develop significantly, from USD 5.5 billion in 2021 to USD 36.5 billion in 2026, at a CAGR of 46.0%. This expansion can be ascribed to a number of things, including increasing investment in HMD development by major players, an increase in the use of AR and VR technologies as a result of COVID-19, the availability of affordable HMDs, and technological and digitalization improvements. The research, "Head-mounted Display Market with COVID-19 Impact Analysis," analyses the market in terms of type, technology, application, product type, component, connectivity, and geography while shedding light on the major industry drivers and obstacles.

Some of the key companies operating in the market are Sony (Japan), Google (US), Microsoft (US), Oculus (US), HTC (Taiwan), Seiko Epson (Japan), Samsung (South Korea), Lenovo (China), Magic Leap (US), and Vuzix (US) and so on.

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Opportunity: Growing use of HMDs for video games

The market for head-mounted displays (HMDs) has a lot of room to develop as a result of the expanding use of HMDs in video games. HMDs are widely used in video games because they provide a better gaming experience by projecting digital images in a 3D view that simulates real-world images. This improves the quality of the gaming experience. Spending on video games has increased as a result of the COVID-19 epidemic, and several AR and VR games are being released by top-tier gaming businesses. The game industry has undergone a technological revolution as a result of the development of VR and 3D technology. As a result, it is anticipated that the expanding gaming industry will propel the HMD market.

Wired connectivity held the largest share of head-mounted display market

By connectivity, the head-mounted display market has been divided into wired and wireless segments. The majority of the market is occupied by wired connectivity, sometimes referred to as tethered connectivity. The Oculus Rift, HTC Vive, and PlayStation VR are examples of tethered headgear that are physically connected to computers or gaming consoles by wires. These headsets are often bulkier and more expensive than wireless alternatives, but when used in conjunction with external cameras for head tracking, they provide superior accuracy. Because it offers a better user experience, cable connectivity is projected to continue to be popular as the market for head-mounted displays expands.

Integrated HMDs to account for the largest share of head-mounted display market

optical head-mounted displays (OHMDs), often referred to as integrated head-mounted displays (HMDs), are expected to hold the biggest market share. This is due to the fact that they are the most expensive and sophisticated HMDs available, able to give both virtual reality (VR) and augmented reality (AR) experiences without requiring additional hardware like a PC or smartphone. Integrated HMDs are offered by businesses like Microsoft Corporation, Magic Leap, Inc., and Osterhout Design Group. Integrated HMDs are anticipated to have a substantial impact on the overall development of the HMD industry as it continues to develop and evolve.

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Augmented reality technology to grow at the fastest rate during the forecast period

Throughout the projected period, augmented reality (AR) technology is anticipated to increase at the quickest rate. This is due to the numerous mobile phone applications, particularly in the gaming and other industries, that allow for 3D navigation with a real-time overlay of computer visuals. This market is also anticipated to be driven by the growing significance of augmented reality head-mounted displays (HMDs) or smart glasses in business and industrial applications. AR headsets can give workers access to a variety of tools, including training films, data visualisations, and numerous desktop screens for carrying out different tasks. The HMD industry is anticipated to experience tremendous growth as AR technology develops and finds new uses.

Americas is leading the market head-mounted display market in 2020

With the greatest market share, the Americas region has taken the lead in the head-mounted display (HMD) industry in 2020. Enterprise users' growing acceptance of augmented reality (AR) and virtual reality (VR) devices to increase accuracy and productivity is the main factor behind this trend. The development of the HMD market in the Americas has also been fueled by the usage of AR and VR technology in consumer devices. It is anticipated that the Americas region will continue to play a key role in propelling the growth of the HMD market as the adoption of AR and VR technologies continues to expand in a variety of industries and applications.

News Covered:

https://www.globenewswire.com/news-release/2023/02/16/2609661/0/en/Head-Mounted-Display-HMD-Market-to-Reach-36-5BN-by-2026-with-46-0-CAGR-Driven-by-AR-VR-Adoption.html

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