The report "Head-mounted Display Market with COVID-19 Impact Analysis by Type, Technology (AR, VR), Application (Consumer, Commercial, Enterprise & Industry, Aerospace & Defense), Product Type, Component, Connectivity, and Geography - Global Forecast to 2026", is expected to grow from USD 5.5 billion in 2021 to USD 36.5 billion by 2026, at a CAGR of 46.0%. The market growth can be attributed to several factors, such as surge in investments by major players in development of HMDs, increased adoption of AR and VR technologies due to COVID-19, availability of low-cost HMDs, and technological advancements and growing digitalization.
Download PDF Brochure:- https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=729
Opportunity: Growing use of HMDs for video games
HMDs have a high penetration rate in video games, as they enhance the gaming experience. PlayStation (PS) PlayStation has made HMDs more popular. HMDs project digital images, allowing a 3D view to enhance the user experience by projecting images and game screens like real-world images, which increases the quality of gaming. The spending on the video game industry has witnessed a huge surge due to the COVID-19 pandemic. Top-tier gaming companies are launching many AR and VR games. The gaming industry has undergone a technological evolution with the emergence of VR and 3D technologies. Therefore, the growing gaming sector would drive the market for HMDs.
Challenge: Adverse impact of lockdowns due to COVID-19 on commercial trade
The imposition of lockdowns and social distancing measures has severely affected the manufacturing sector, as a large chunk of consumer spending is discretionary. Hence, it is being postponed or canceled due to quarantine and social distancing. Some companies had to completely halt their manufacturing operations, which disrupted their supply chains. For instance, key automobile companies such as Volkswagen, Ford, and General Motors had shut down all their production units worldwide during the first wave of COVID-19 in the first half of 2020. The second wave in 2021 has also caused partial lockdowns in various countries and hampered the HMD market again. The third and fourth quarters of 2021 are expected to drive the growth of the HMD market, as COVID-19 cases are expected to reduce with the vaccinations being done on a large scale. All these factors, along with the potential third wave of COVID-19, are expected to significantly impact the growth of the HMD market until mid-2022.
Augmented reality technology to grow at the fastest rate during the forecast period
The use of mobile phones for 3D navigation with a real-time overlay of computer graphics has numerous applications in the gaming sector and other industries; this is expected to drive the growth of the AR segment. Increasing importance of AR HMDs or smart glasses in the enterprise and industry application is also expected to drive this segment. AR headsets can provide employees with a host of tools, such as training videos, visualized data, and access to multiple desktop screens for performing various activities.
Americas is leading the market head-mounted display market in 2020
Americas held the largest share in the head-mounted display market in 2020. The increased acceptance of AR and VR devices by enterprise users to improve productivity and accuracy has been the key factor driving the growth of the HMD market in Americas. The use of AR and VR technologies in consumer electronics also propels the growth of the market.
Some of the key companies operating in the market are Sony (Japan), Google (US), Microsoft (US), Oculus (US), HTC (Taiwan), Seiko Epson (Japan), Samsung (South Korea), Lenovo (China), Magic Leap (US), and Vuzix (US) and so on.
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
No comments:
Post a Comment