Head-mounted Display (HMD) Market

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Market Overview

• A head-mounted display is an electronic wearable
  device, mounted on a head that includes a small
  display optic near the eye. The display optic
  projects a virtual environment in front of the
  users eyes. The screens used in the head-mounted
  display are liquid crystal displays (LCDs) since
  they are compact, efficient, and lightweight. HMD
  finds applications in a variety of industries
  including military, gaming, medical, sports,
  training and simulation, engineering, etc. The
  virtual reality headsets used in gaming and other
  applications are HMDs combined with inertial
  measurement unit (IMU). Furthermore, optic
  head-mounted display (OHMD) is a wearable display
  that can reflect projected images and enables the
  user to see through it.

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• The Global Head-mounted Display (HMD)  Market,
  BY Product Type(Helmet Mounted Display, Eye Wear
  Display) by Component (Helmet Mounted Display
  (Micro-Display, Head Tracker, Camera,
  Connectivity, Combined Mirror, Control Unit,
  Helmet and Accessories) Eye Wear Display/Glass
  (Micro-Display, Goggle, Head Tracker, Controller,
  Connectivity, Battery and Accessories)), by
  Application (Defense, Aviation, Military,
  Industrial Sector, Augmented Virtual Reality,
  Research Development, Healthcare, Video Gaming
  Entertainment, Training Simulation and
  Others), and by Geography (North America, Europe,
  Asia Pacific, and Latin America, Middle East
  Africa) - Global Forecast to 2027, is expected
  to be valued at US  125.06 Billion by 2027,
  witnessing a CAGR of 38.6 during the forecast
  period (2019-2027), as highlighted in a report
  published by Coherent Market Insights.

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Market Dynamics- Drivers

• Increasing expenditure on defense equipment and
  personnel are expected to drive growth of the
  global head mounted display (HMD) market during
  the forecast period
• Many countries around the world including Brazil,
  India, Russia, and China have started investing
  heavily in military and defense infrastructure
  and related products. Moreover, these countries
  are laying emphasis on importing electronic
  products from countries such as France, Germany,
  and the U.S. For instance, in 2014, Brazil
  entered into an agreement with Saab AB to buy its
  JAS-39E/F X2Gripen over Rafael, Super Horne with
  HMD-enabled technology. Furthermore, in 2012, BAE
  Systems received an order for remote eyepiece
  display imagers from the U.S. Army. Hence, high
  expenditure on defense equipment is expected to
  support growth of the market in the near future.

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• Rising consumer preference for sophisticated
  wearable devices is expected to propel the global
  head mounted display (HUD) market growth over the
  forecast period
• Increasing purchasing power of individuals in
  many developed countries including the U.S.,
  Germany, Canada, and the U.K. combined with
  rising preference of consumers for sophisticated
  high tech wearable devices is expected to boost
  the demand for wearable devices in the near
  future. Moreover, growing awareness among
  consumers regarding benefits of wearable
  electronic devices such as fitness bands and
  other activity trackers is expected to boost the
  global head mounted display (HUD) market growth
  over the forecast period. According to Coherent
  Market Insights analysis, the global wearable
  electronics market is expected to increase at a
  CAGR of over 36 by 2020.

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• North America region dominated the global head
  mounted display (HMD) market in 2019, accounting
  for 33.4 share in terms of value, followed by
  Europe and Asia Pacific, respectively.

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Market Dynamics- Restraints

• High price associated with wearable products is
  expected to hamper the global head mounted
  display (HUD) market growth over the forecast
  period
• Although HMD wearables offer lucrative features,
  the prices of these devices are significantly
  high and not affordable for consumers from
  emerging economies such as India, China, and
  Brazil. Moreover, head mounted displays are made
  with high-end technologies and delicate
  components such as LCD screen, which increases
  their price significantly. Therefore, high price
  associated with HMDs is expected to hamper the
  market growth over the forecast period.

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• Low consumer awareness in emerging economies is
  expected to hinder to global head mounted display
  (HUD) market growth over the forecast period
• Lack of consumer awareness regarding various
  features offered by HMDs is different
  applications, especially in emerging regions such
  as Latin America and Middle East Africa is the
  major restraining factor. Moreover, HMDs are
  relatively more popular in military and defense
  applications as compared to consumer electronics.
  Hence, these factors are expected to hinder the
  global head mounted display (HMD) market growth
  over the forecast period.

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Market Opportunities

• Integration with healthcare and fitness devices
  can present lucrative growth opportunities
• The demand for wearable devices such as bands,
  eyewear, and smart-watches is expected to
  increase significantly in the near future. Key
  players in the market are can integrate head
  mounted displays with wearables and capitalize on
  untapped market potential. For instance, Samsung
  Gear Live is a wearable device that monitors
  heart rate and has attractive appearance.
  Moreover, Samsung Gear Fit is a fitness version
  of Samsung Gear and Integrated Mobile S Health
  Partner.

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• Rising applications in the entertainment sector
  can pose major business opportunities
• Video gaming and entertainment sectors have
  registered high demand for HMDs in the recent
  past. Increasing consumer interest in
  entertainment is a major factor driving growth of
  the eyewear display market. Moreover, companies
  such as Google, Sony, and Oculus VR have launched
  products for consumer entertainment purposes.

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Rising applications in the entertainment sector
can pose major business opportunities
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In global head mounted display market, by
application segment defense, aviation, military
sub-segment dominated the global head mounted
display (HMD) market in 2019, accounting for
30.5 share in terms of value, followed by
industrial sector and augmented and virtual
reality.
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Market Trends

• North America Trends
• High presence of key manufacturers
• The semiconductor and wearable electronics market
  in North America has matured enough so that it
  can drive growth of the regional head mounted
  display market. North American information
  technology, electronics, semiconductor, and
  automation companies are introducing innovative
  HMD technologies in order to maintain a
  competitive edge in the industry. Furthermore,
  some of the major players in the IT industry and
  social networking sites are focused on investing
  in head-mounted displays. For instance, in 2014,
  Facebook acquired Oculus VR to enter the consumer
  electronics segment.

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• Rapid growth of healthcare industry
• Rapid growth of healthcare industry in North
  America has resulted in increased use of
  head-mounted displays in the region for accurate
  and safe decision-making in medical treatment and
  healthcare. Healthcare professionals in the U.S.
  use Google Glass to track patient health records
  in hospitals. Moreover, Google Glass is expected
  to find applications in treatment for autism and
  various other fields including healthcare and
  medical research.

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• Latin America Trends
• High growth of electronics industry
• The consumer electronics industry in Brazil is
  expected to witness high growth in the near
  future, owing to active support from the
  government. Rising demand for navigation-based
  displays in the region is expected to boost the
  regional HMD market. Furthermore, growing
  semiconductor industry in Lain America is
  attracting global players in the semiconductor
  industry to expand their business into the
  region.

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• Strong support from government
• The Brazilian government is actively supporting
  the electronics industry by providing tax
  incentives for domestic production of electronic
  products. Moreover, Brazil governments Padis
  program focuses on supporting technological
  developments in the semiconductor industry and
  advanced technical developments in integrated
  circuits and assembly-related tasks.

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Competitive Section

• Key players operating in the global head mounted
  display (HMD) market are Sensics Corporation,
  Sony Corporation, Recon Instruments, Kopin
  Corporation, Thales Visionix, Inc., Oculus VR,
  Rockwell Collins, Inc., eMagin Corporation,
  Google Inc., Lockheed Martin, Japan Display Inc.,
  and Seiko Epson Corporation.

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Key Developments

• Major companies in the market are focused on
  partnerships and collaborations, in order to
  enhance the market presence. For instance, in
  October 2018, Kopin Corporation partnered with
  Endopodium to develop high resolution wearable
  displays for medical and surgical applications.
• Key players in the market are involved in
  agreements and contracts, in order to gain
  competitive edge in the market. For instance, in
  September 2019, Lockheed Martin entered into a
  US 352.6 million contract with the U.S.
  Department Defense to sell Generation 3 helmet
  mounted displays for F-35 jets.

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