The head mount display market consists of sales of virtual reality (VR) headsets, gaming consoles, smart augmented (AR) glasses, and wearable computing glasses. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
Sizing and Forecast
The head mount display market size has grown exponentially in recent years. It will grow from $15.37 billion in 2023 to $18.47 billion in 2024 at a compound annual growth rate (CAGR) of 20.2%. The growth in the historic period can be attributed to gaming industry demand, military and defense applications, healthcare and medical training, industrial and enterprise use, consumer electronics growth, and entertainment and media.
The head mount display market size is expected to see exponential growth in the next few years. It will grow to $38.7 billion in 2028 at a compound annual growth rate (CAGR) of 20.3%. The growth in the forecast period can be attributed to growing adoption in the automotive industry, consumer demand for in-vehicle connectivity, regulatory support for safety enhancements, and growing use in education and training. Major trends in the forecast period include technological advancements, enhanced safety features, integration with Advanced Driver Assistance Systems (ADAS), advancements in AR and VR technologies, expansion in enterprise and industrial applications, cost reduction, and increased affordability.
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Segmentation & Regional Insights
The head mount display market covered in this report is segmented –
1) By Type: Slide-on, Integrated, Discrete
2) By Component: Processor And Memories, Displays, Lenses, Sensors, Controllers, Cameras, Cases And Connectors
3) By Technology: Augmented Reality (AR), Virtual Reality (VR), Mixed Reality (MR)
4) By Connectivity: Wired, Wireless
5) By Applications: Consumer, Aerospace And Défense, Enterprise, Commercial, Automotive, Energy, Other Applications
North America was the largest region in the head mount display market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the head mount display market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The growing gaming industry is expected to propel the growth of the head mount display market going forward. The gaming industry encompasses developing, marketing, and monetizing video games across various platforms, including consoles, PCs, and mobile devices. The gaming industry is rising due to increasing technological advancements, broader accessibility of gaming platforms, and growing demand for immersive entertainment experiences. Head-mounted displays enhance gaming experiences by providing immersive virtual reality environments that transport players into the game world. For instance, in February 2024, according to data published by the Entertainment Software Association, a US-based trade association of the video game industry, total video game sales surged to $57.2 billion in 2023, marking an increase from the $56.6 billion recorded in 2022. The rise was primarily fueled by a boost in video game content spending, which rose to $48.0 billion in 2023 from $47.5 billion in 2022. Therefore, the growing gaming industry is driving the growth of the head mount display market.
Key Industry Players
Major companies operating in the head mount display market are Apple Inc., Google LLC, Microsoft Corporation, Samsung Electronics Co. Ltd., Sony Corporation, RTX Corporation, Lenovo Group Limited, Lockheed Martin Corporation , LG Electronics Inc., Panasonic Holdings Corporation, Hewlett-Packard Company, BAE Systems, Seiko Epson Corporation, Razer Inc., Japan Display Inc., Magic Leap Inc., Oculus VR , HTC Corporation, Pimax Technology Co. Ltd., Varjo Technologies, Kopin Corporation, eMagin Corporation, Recon Instruments, Thales Visionix Inc., Vuzix Corporation, Avegant Corporation, DAQRI
The head mount display market report table of contents includes:
1. Executive Summary
- Head Mount Display Market Characteristics
- Head Mount Display Market Trends And Strategies
- Head Mount Display Market – Macro Economic Scenario
- Global Head Mount Display Market Size and Growth
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32. Global Head Mount Display Market Competitive Benchmarking
- Global Head Mount Display Market Competitive Dashboard
- Key Mergers And Acquisitions In The Head Mount Display Market
- Head Mount Display Market Future Outlook and Potential Analysis
- Appendix
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