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The head-mounted display market share is expected to increase by USD 36.09 billion from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 45.79%.
This head-mounted display market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers head-mounted display market segmentations by end-user (defense and industrial), application (combat and aviation, training and simulation, and others), and geography (North America, Europe, APAC, MEA, South America, North America, Europe, APAC, MEA, and South America). The head-mounted display market report also offers information on several market vendors, including BAE Systems Plc, CINOPTICS, Collins Aerospace, Elbit Systems Ltd., Fujitsu Ltd., HTC Corp., Microsoft Corp., Samsung Electronics Co. Ltd., Seiko Epson Corp., and Sony Group Corp. among others.
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Based on our research output, there has been a neutral impact on the market growth during and post COVID-19 era. The emergence of industry 4.0 is notably driving the head-mounted display market growth, although factors such as limited battery life may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the head-mounted display industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Head-mounted Display Market Driver
The emergence of industry 4.0 is notably driving the global head-mounted display market growth. Emergence of Industry 4.0 Industry 4.0 represents the fourth industrial revolution in the manufacturing industry. The connected ecosystem using IoT will be instrumental in helping manufacturers and consumers provide improved communication and monitoring systems and increased automation, along with self-diagnosis and new levels of analysis, for a productive future. Industry 4.0 is the current transformation of industries, characterized by automation, cloud, cyber-physical systems, robots, big data, artificial intelligence (AI), and (semi-) autonomous techniques. Industrial wearable devices, such as Head-mounted displays and smart glasses, assist personnel in increasing productivity and communicating with machines during operations. With the emergence of Industry 4.0, the market is expected to see an accelerated demand for Head-mounted displays during the forecast period.
Key Head-mounted Display Market Trend
Increased deployment by the defense segment is the key market trend driving the global head-mounted display market growth. The AR segment will revolutionize army training. The rapid advances in VR and AR technologies, coupled with the increased government spending on training, have influenced the army to seize an opportunity to augment readiness. The defense segment is a key end-user of Head-mounted displays. These devices are primarily used for training and simulation and during combat. Head-mounted displays are particularly used by ground force troops. The increased deployment of Head-mounted displays across the defense sector will positively impact the market during the forecast period.
Key Head-mounted Display Market Challenge
The limited battery life is the major challenge impeding the global head-mounted display market growth. One of the drawbacks of Head-mounted displays is their limited battery life. The average battery life of Head-mounted displays ranges between four and six hours of typical usage. Thus, there is a constant need to charge the device for longer hours of use. Users would need to constantly charge the device, which may even mean abandoning an operation mid-way. Finding a balance between the cost and efficiency of devices is a challenge for enterprises. Head-mounted displays are extensively deployed in industries for operations that run for long periods of time
This head-mounted display market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.
Technavio categorizes the global head-mounted display market as a part of the global electronic equipment and instruments market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the head-mounted display market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the head-mounted display market encompasses successful business strategies deployed by the key vendors. The head-mounted display market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The head-mounted display market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the head-mounted display market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Application
6 Market Segmentation by End-user
7 Customer landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Vendor Landscape
11 Vendor Analysis
12 Appendix
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