By 2031, it is anticipated that the Head Mounted Display (HMD) market will increase to USD 104.53 billion. For the purpose of producing a synthetic training environment, head-mounted displays are frequently employed in military training applications (STE). STE is an augmented reality (AR) technology which creates military training in an immersive fashion. It aids in the improvement of soldiers’ training exercises involving deserts and mountains covered in snow, deep forests, and collaboration.

HMDs with AR/VR integration are used in training and simulations for a variety of tasks, including military simulations, battlefield visualisations, tactical augmented reality, digital twins, spatial orientation, situational awareness, weapon targeting, and digital terrain. Head mounted displays are becoming more common in the healthcare and educational fields because to advancing technology. The COVID-19 epidemic, when numerous schools and institutions worldwide were forced to retreat indoors for a few months to control the virus’s spread, has sped up the rate at which the transformation is occurring.

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Key Takeaways: Head-Mounted Display Market

• .Driven by the rising demand for evolving technology, the head mounted displays market will register over 16% y-o-y growth in 2021
• The U.S. will emerge as the leading market in North America, accounting for over 79% of sales
• Demand in the U.K. will rise considerably, enabling y-o-y growth at above 13% in 2021
• Inclination for advanced technologies and expansion of gaming sector will support growth in Germany and France
• East Asia will emerge as a highly lucrative market with China at the forefront, followed by Japan and South Korea

COVID-19 Impact Analysis on head mounted display Market

The COVID-19 outbreak’s repercussions will go well beyond just human health and safety. There are already indications that the virus will have a big effect on the AR/VR market and head-mounted displays. For the sake of public health and COVID-19 prevention, the outbreak has forced the postponement or cancellation of a number of sporting events.

On the other hand, it might increase the demand for VR/AR HMDs in the healthcare industry. Despite the epidemic, a number of international vendors have kept their attention on creating and improving in AR/VR technologies by releasing cutting-edge goods like smart glasses, such those made by Google and Microsoft.

In the COVID-19 epidemic, the majority of countries implemented lockdowns. All sporting activities were rescheduled or cancelled since people were forced to spend a specific amount of time at home. Due to the fact that players were restricted to their houses, they found AR/VR gaming to be more appealing and entertaining. Thus, the continuing innovation in head-mounted displays in AR/VR technologies has resulted in considerable growth in the industry.

Increasing Demand inHealthcare SectorDriving Growth

For patient care, medical marketing, disease awareness, and medical education, HMDs are employed in the healthcare sector.

Doctors can use VR headsets to create training scenarios while viewing the intricate features of any body component in 360° CGI reconstruction. Doctors now have easier access to the inside of the body thanks to virtual reality (VR) headsets.

By 2025, the AR and VR industries will reach US$35 billion, according to eInfochips, as a result of their adoption in the gaming, education, fashion, healthcare, and entertainment sectors.

Applications for HMDs in the healthcare sector include training in surgery, dental simulation, pain management, addiction treatment, telemedicine, stroke and dementia rehabilitation, and the treatment of depression and Post-Traumatic Stress Disorder (PSTD).

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Who is Winning?

Market participants have been concentrating on developments. As businesses strive for a competitive advantage, spending on research and development will keep rising. Microsoft Corporation, Google, Samsung, BAE Systems, Elbit Systems, Huawei Technologies, HTC Corporation, Sony Corporation, LG Electronics, Thales Visionix, Inc., Xiaomi, and Avegant Corp. are a few of the top companies active in the market.

Key Segments Covered of the Head Mounted Display Market

Product Type

• Head Mounted
• Eyewear

HMD Type

• Discrete HMD
• Integrated HMD
• Slide-on HMD

Application

• Gaming, Media,& Entertainment
• Aerospace, and Defense
• Healthcare and Medical Devices
• Engineering & Industry Applications
• Education
• Others

Region

• North America
• Latin America
• Europe
• East Asia
• South Asia& Pacific
• Middle East & Africa (MEA)

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