Research Nester published a report titled “Head Mounted Devices Market: GlobalDemand Analysis & Opportunity Outlook 2029” which delivers detailed overview of the global head mounted devices (HMD) market in terms of market segmentation by technology, connectivity, application, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
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The head mounted devices market is projected to grow by a significant CAGR during the forecast period, i.e., 2021 – 2029, owing to the rise in adoption of augmented reality (AR) and virtual reality (VR) technologies, growing investment in mobile based AR applications and increasing demand for lightweight head-mounted displays. It is estimated that the augmented reality market will acquire a revenue of around USD 9 million by the end of 2021.
On the basis of application, the market is segmented into commercial, consumer, enterprise, military and others, out of which the segment for enterprises is anticipated to grab a notable market share on account of the surge in the use of head mounted devices in industry verticals such as manufacturing, assembling, warehouses and training. Apart from these, adoption of AR to enhance customer experience is also expected to drive growth of this segment over the forecast period.
Geographically, the head mounted devices market is segmented into North America, Europe, Asia Pacific, Latin America and the Middle East & Africa regions. Amongst these, the market in Asia Pacific is evaluated to witness noteworthy growth over the forecast period on the back of the availability of cheap labor with suitable skillset and the increasing expansion of the electronics sector in countries namely Japan, China and Korea.
Rising Investment by Companies for Advancement of HMDs
Head mounted displays find applications in a plethora of sectors accounting to properties such as large field of view, positional tracking and the ability to create an illusion of the 3D world, owing to which the demand for these devices is assessed to grow in the coming years. This is one of the major reasons companies are expected to invest heavily in the research and development of AR/VR technologies that enhance user experience, which in turn is predicted to drive growth to the market in the coming years.
However, absence of a standardized design for developing head mounted devices is expected to operate as key restraint to the growth of the market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global head mounted devices market which includes company profiling of SONY ELECTRONICS INC. (TYO: 6758), Samsung Electronics Co., Ltd. (KRX: 005930), Facebook Technologies, LLC. (Oculus VR) (NASDAQ: FB), Shoogee GmbH & Co. KG, Microsoft Corporation (NASDAQ: MSFT), Kopin Corporation (NASDAQ: KOPN), HTC Corporation (TPE: 2498), Collins Aerospace, MicroVision, Inc. (NASDAQ: MVIS), BAE Systems, Inc. (LON: BA), and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the head mounted devices market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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