Shaping the Future: Head Mounted Displays Market Trends and Forecasts for 2030

Global Head Mounted Displays Market Overview:

According to MarkNtel Advisors study the Global Head Mounted Display Market is estimated to grow at a CAGR of around 33.81% during the forecast period, i.e., 2024-30. In 2024, the global head-mounted display market size was estimated to be around USD 12.02 billion. The growth of the market is primarily attributed to rising adoption from the aerospace and defense industry for training purposes, integration of immersive reality in the gaming industry, and gradual growth in demand from construction and healthcare.

Key Findings of the Study: Head Mounted Displays market

Global Head Mounted Display Market Driver:

Exponential Growth in Demand from Defense Forces: The militaries across the globe are gradually integrating the latest technologies to ensure a competitive edge, reduce costs, and provide best-in-class training to their professionals. Moreover, the modernization of defense forces across the globe to ensure agility, improved effectiveness, flexibility in operations, and increased survivability is boosting the integration of head mounted displays for training and battlefield superiority. Countries such as the USA, India, Israel, China, Russia, EU, etc., have been actively contracting defense equipment suppliers for hmd displays. With the growth in electronic warfare infrastructure, these countries are increasingly relying on such technologies which are further integrated with the combat vehicles and aircraft.

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Scope of the Head Mounted Displays Market Report Segmentation

-By Type

Discrete- Market Size Forecast 2019-2030, USD Million
Slide-On- Market Size Forecast 2019-2030, USD Million
Integrated- Market Size Forecast 2019-2030, USD Million

-By Technology

Augmented Reality (AR)- Market Size Forecast 2019-2030, USD Million
Virtual Reality (VR)- Market Size Forecast 2019-2030, USD Million
Mixed Reality (MR)- Market Size Forecast 2019-2030, USD Million

-By Component

Hardware - Market Size Forecast 2019-2030, USD Million
Software - Market Size Forecast 2019-2030, USD Million
Services - Market Size Forecast 2019-2030, USD Million

-By Product Type

Head Mounted- Market Size Forecast 2019-2030, USD Million
Eyewear- Market Size Forecast 2019-2030, USD Million

-By Connectivity

Wired- Market Size Forecast 2019-2030, USD Million
Wireless- Market Size Forecast 2019-2030, USD Million

-By End User

Consumers- Market Size Forecast 2019-2030, USD Million
Enterprises- Market Size Forecast 2019-2030, USD Million

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Geographical analysis:

-By Region

North America
South America
Europe
Middle East Africa
Asia-Pacific

In 2024, North America dominated the global head mounted display market with the market share exceeding 50%. The US completely overpowered the global head mounted display on account of stringent norms and complex procedures involved in technology transfer by the companies, modernization of its defense forces is resulting in an increased number of contracts for advanced equipment like head mounted displays. Moreover, the growing number of F-35 and F-22 Raptors in its defense forces is likely to boost the demand for head mounted display, as it is the core to the pilot operations. For instance, in 2023, the US Navy contracted Lockheed Martin to provide head mounted displays for its F-35 aircraft for USD175 million. In 2022, the company won the contract of around USD350 million to provide head mounted displays for F-35s. In 2021, the US military signed a contract with Microsoft worth USD22 billion to procure 120,000 military-grade AR-powered headsets over the next 10 years.

Global Head Mounted Display Industry Recent Development:

2024: Sony in collaboration with Siemens has announced to launch virtual reality-based head mounted display. The solution is targeted at industries to boost product engineering and designing capabilities
2023: Meta partnered with Tencent Holdings to sell its Virtual Reality headset in China. Tencent will have the exclusive rights to offer Meta headsets in China, beginning in the last quarter of 2024
2023: Taiwanese medtech firm viz. Sunglasses raised USD6.5 million in the pre-seed round to expand its footprints in AR-based surgical navigation systems. The company plans to use funds for research and development of its navigation system employing Head-Mounted Display (HMD) to provide precise guidance and facilitate surgical operations.

Current Landscape of Head Mounted Displays Market

The report delineates key market participants and thoroughly assesses their strategic approaches, trends, innovations, and manufacturing infrastructure, enabling a forecast of their market impact over the next five years. The meticulously researched data presented holds the potential to distinguish even nascent market entrants in the long term. Armed with pertinent data and actionable insights, our research report delivers a comprehensive overview of the market, empowering investors and stakeholders to establish a robust presence in the Head Mounted Displays market. The research report profiles major players, including

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Meta
Sony Corporation
Microsoft
Google LLC
Samsung
BAE Systems
Magic Leap
Seiko Epson Corporation
HTC Corporation
Collins Aerospace
Kopin Corporation
Lockheed Martin
Thales
Elbit Systems Ltd
Beyeonics Ltd
Others

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