Global Headset Industry To Reach $ 36.5 Billion By 2026 With 46% CAGR From 2021 – ResearchAndMarkets.com | Business
DUBLIN – (BUSINESS WIRE) – July 1, 2021–
the COVID-19 Impact Analysis Headset Market by Type, Technology (AR, VR), Application (Consumer, Commercial, Enterprise & Industry, Aerospace & Defense), Product Type, Component, Connectivity & Geography – Forecast worldwide for 2026 “ the report was added to ResearchAndMarkets.comoffer.
The head-mounted display market is expected to grow from USD 5.5 billion in 2021 to USD 36.5 billion by 2026, with a CAGR of 46.0%.
An increase in investments by major players in the development of HMDs, increased adoption of AR and VR technologies due to COVID-19, availability of low cost HMDs, technological advancements and increasing digitization – are the key factors driving the head-mounted display market.
However, the lack of standardization for the design of HMDs, health issues related to low resolution and lack of movement, display latency and power consumption affect the overall performance of VR devices can create obstacles for the market.
The recent COVID-19 pandemic is expected to impact the global head-mounted display market. Due to COVID-19, the manufacturing units of major players are severely hampered due to the global lockdown and limited availability of labor and raw materials. A number of scheduled product launches and related developments have been postponed due to the pandemic. However, the impact of COVID-19 is expected to decrease over the forecast period.
Discrete HMD Market Expected To Grow At The Fastest CAGR During The Forecast Period
Growing use of eyewear in various applications such as industry and business, healthcare, research and design is expected to drive the HMD market. Discrete HMD, also known as Captive HMD, is a VR HMD that creates an immersive VR experience. Discrete HMDs require powerful PCs to run games and software. These are cheaper than sliding HMDs and expensive than integrated HMDs. The intensive use of discrete HMDs in games and entertainment has been the main driver of their growth. The trend is expected to increase over the next 5 years. The COVID-19 crisis has increased the rate of growth of these HMDs, as people were stuck at home, and HMDs have been of great help with in-house entertainment.
Virtual reality technology held the largest share of the head-mounted display market in 2020
A growing number of new entrants offering low cost HMDs is one of the main reasons for the widespread adoption of HMD VR, especially in consumer application. Tech giants entering the market with their innovative headsets or HMDs have offered impressive opportunities for the market. The main reason for the growth of the HMD VR market is the use of HMD for gaming. The availability of low cost HMD VR has also helped increase shipments in the VR segment.
Business and industry application to lead the market during the forecast period
The HMD market has experienced strong growth due to the crucial role of technological advancements in the business and industry applications segment. The growing use of AR headsets in training, logistics and warehouse, manufacturing, assembly, education, and many other applications is driving the market for AR HMDs. For example, AR headsets are used in logistics to provide quick access to information anytime and anywhere. Such headsets can reduce the time required to train new employees. The flexibility achieved by AR HMD makes it a preferred choice for the business and industry segment.
APAC is expected to register the highest CAGR in the market during the forecast period
Among all the regions, APAC is expected to record the highest growth in the head-mounted display market during the forecast period. HMDs have been widely adopted in APAC in recent years. Continued developments in mainstream application would encourage the region to invest in and adopt HMD AR and VR. It is a major factor in the growth of the market in this region. APAC is home to many prominent companies such as HTC Corporation (Taiwan), Sony Corporation (Japan), Lenovo Group Ltd. (China), Acer Inc. (Taiwan), Xiaomi, Inc. (China), LG Electronics Inc. (South Korea).
- Increase in investments by the main actors in the development of HMDs
- Increased adoption of Ar and Vr technologies due to COVID-19
- Availability of low cost HMDs
- Technological advances and increasing digitization
- Lack of standardization for Hmd design
- Display latency and power consumption affect the overall performance of VR devices
- Health issues related to low resolution and lack of movement
- Trade restrictions between us and China
- Growing use of HMDs for video games
- Increase in the patent portfolio
- Growing demand for lightweight HMDs and portable devices
- Low awareness of HMD
- Negative impact of lockdowns due to COVID-19 on trade
- BAE systems
- Beyeonics Surgical Ltd.
- Dynabook Americas
- See everything
- Magic Leap, Inc.
- Merge laboratories
- Meta company
- Planet Nimo
- Oculus Vr (Facebook)
- Panasonic Corporation
- Samsung Electronics
- Seiko Epson
- Xiaomi Company
For more information on this report, visit https://www.researchandmarkets.com/r/mralfa
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INDUSTRY KEYWORD: AUDIO / VIDEO EQUIPMENT TECHNOLOGY CONSUMER ELECTRONICS
SOURCE: Research and markets
Copyright Business Wire 2021.
PUB: 07/01/2021 06:14 / DISC: 07/01/2021 06:14
Copyright Business Wire 2021.