Head-Mounted Display Market by Technology AR, VR - 2022 | MarketsandMarkets

[192 Pages Report] Head-Mounted Display Market categorizes global market by Technology (AR, VR), Application (Consumer, Commercial, Enterprise & Industry, Engineering & Design, Military, Medical), Product (Head Mounted, Eyewear), Component, Connectivity, and Geography.

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The HMD market is expected to be valued at USD 25.01 Billion by 2022, growing at a CAGR of 38.8% between 2017 and 2022.

The growth of this market can be attributed to the increasing demand for lightweight HMDs, adoption of AR and VR technologies owing to technological advancements, and increasing patent portfolio.

This report segments the HMD market based on HMD type, component, connectivity, product type, application, technology, and region.

Display plays a vital role in HMD devices. HMDs drive the demand for consumer application because of technological advancements in display technologies, which nowadays offer advanced vision in addition to features such as high-resolution images and 3D viewing. Display has a high impact in making headsets more efficient. It is one of the basic components in headsets, and its decreasing cost is expected to boost the market for HMDs.

The HMD market, on the basis of connectivity, has been segmented into wired and wireless.

The market for wireless HMD is expected to grow at highest rate during the forecast period as it does not require connectivity with the PC. Therefore, users have the freedom to travel as they can independently move to experience the real and virtual world. The companies are growing majorly in wireless connectivity products such as Microsoft HoloLens, ODG Smart Glasses, and Google Daydream View. The HMD market is moving toward wireless connectivity owing to design improvement and cost-effectiveness.

The HMD market based on product type has been segmented into head mounted and eyewear.

The market for eyewear is expected to grow at the highest CAGR between 2017 and 2022. Increasing use of eyewear in various applications, such as industry and enterprise, medical, and research and design, is expected to increase the market for eyewear HMDs. Eyewear will also be used in the consumer application with growing adoption.

The HMD market based on technology has been segmented into augmented reality and virtual reality.

Virtual reality technology led the HMD market in 2016. Availability of low-cost VR headsets, such as Samsung Gear VR and Google Daydream View, is helping to spur the growth of the market. The increasing number of players entering in the market with offerings of headsets at low cost is one of the major reasons behind the wide adoption of VR headsets in this market.

The HMD market, on the basis of application, has been segmented into consumer; commercial; enterprise and industry; engineering and design; military, defense, and aerospace; medical; education; and others. The use of VR headsets has been increasing in the gaming application because of their lightweight. VR headsets are available for playing 3D games and are suitable for entertainment applications. Therefore, the consumer application is expected to continue to lead the market for VR headsets. The HMD for enterprise and industry application is expected to grow at a higher CAGR between 2017 and 2022.

The HMD market, on the basis of technology, has been segmented into virtual reality and augmented reality.  HMDs are gaining wide adoption in gaming and entertainment applications. The large number of players entering the market with low-cost HMDs is one of the major driving factors for the market.