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Head Mounted Display (HMD) Market Trends

Report ID: GMI7647
Published Date: Dec 2023
Report Format: PDF

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Head Mounted Display Market Trends

The AR and VR technologies are fueling market growth in the HMD market. Industries, such as gaming, healthcare, and enterprise solutions, are embracing immersive experiences. The demand for AR-based smart glasses for industrial applications—which help with maintenance, training, and remote assistance—is increasing, indicating a shift toward practical utility. The increasing adoption of VR for entertainment, education, and simulation is spurring innovation in content creation and user experiences.

Head Mounted Display (HMD) designs are being reshaped by miniaturization and improved display technologies, such as higher resolutions and wider fields of view, making them more compact & immersive. The integration of AI, gesture recognition, and spatial tracking is reshaping interaction modalities, resulting in more intuitive & engaging experiences. Collaborations between tech behemoths and startups are further propelling market expansion, creating a competitive yet innovative landscape that is driving the evolution of these displays into mainstream consumer and enterprise solutions.

Authors: Suraj Gujar , Sandeep Ugale

Frequently Asked Questions (FAQ) :

Head mounted display industry was valued at over USD 18 billion in 2023 and is anticipated to grow at a CAGR of around 22% between 2024 & 2032, driven by their wider popularity among gaming enthusiasts and entertainment seekers.

The aerospace & defence segment accounted for a market share of over 25% in 2023 and is expected to grow at a lucrative pace through 2032, fuelled by the need of head mounted displays to enhance situational awareness, training, and mission effectiveness.

North America head mounted display (HMD) market held a revenue share of over 30% in 2023 and is expected to grow significantly through 2032, driven by technological advancements and increased product adoption in the gaming, healthcare, and defence sectors.

Sony Corporation, HTC, Samsung and Panasonic Holding Corporation are some of the major industry contenders.