Head Mounted Displays Market, on the whole, is expected to reach $4478 million by 2017 at a CAGR of 60% from 2012 to 2017.
(PRWEB) September 25, 2013
According to a new market research report “Head Mounted Display (HMD) Market Global Forecast and Analysis (2012 - 2017) by Products (Helmet Mounted Display, Head Mounted Display/Computing), Components (Micro display, Tracker, Computing, Battery, Accessories,), Applications (Military, Consumer And Non-Consumer) and Geography”, the head mounted displays market, on the whole, is expected to reach $4478 million by 2017 at a CAGR of 60% from 2012 to 2017.
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Head mounted displays are amongst the most prominent products of the near-to-eye applications that have microdisplays installed. The demand for these is on the rise due to the video gaming and augmented reality applications hitting the market in the next couple of years.
The commercial as well as the revamped HMDs used in gaming and entertainment justify the exorbitant marketing that governs the HMD market. In addition, there are certain constructive uses other than recreation for HMDs, including medical head mounted displays for work in telerobotic surgery and psychological treatment of phobias.
The key factors driving the head mounted displays market include improved user experience, connectivity to the content, video gaming sector, regulated defense market, decline in cost of micro displays and components and acceptance of QVGA resolution by the consumers. On the other side, lack of technical solution and prices for consumer and non-consumer market restrain the market growth of head mounted displays. In terms of revenue generation, as of 2011, Americas held the highest share, i.e. 37.5%, followed by Europe with 34.82%.
Currently, head mounted displays are used in military and defense, gaming, medical, healthcare, firefighting, and sports. Automotive prototyping, digital printing, and data storage are a few opportunities expected to open new horizons for the development of this market. Overall, North America and Europe are the major contributors in the head mounted displays application market, but a paradigm shift is expected in the next five years when countries such as Japan, China, and South Korea will have a major chunk in the market share of virtual reality/head mounted displays market.
Amongst the various end-user applications under the head mounted displays, the classification was done on the basis of consumer and non-consumer applications. Amongst the consumer applications, video gaming is expected to grow at a faster CAGR of 151.7% with an estimated market size of $662 million in 2017. In the non-consumer market (encapsulating training and simulation, industrial, healthcare, firefighting and sports), sports is expected to increase with the highest CAGR of 96% followed by healthcare and firefighting growing with CAGR’s of 95%.
The global head mounted displays market is expected to grow from $336 million in 2011 to $4478 million in 2017 at a CAGR of 60% from 2012 to 2017. Asia-Pacific region is observed to grow at the highest rate. This is primarily due to the growth of technology and setting up of the manufacturing units of the major players in this region owing to the skilled labor force and low cost of maintaining them.
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