According to the latest market research study released by Technavio, the global HMD market is expected to grow at a CAGR of close to 49% during the forecast period 2016-2020.
This market research report by Technavio provides an in-depth analysis of the market in terms of revenue and emerging market trends. The report also includes an up-to-date analysis and forecasts for various market segments and all geographical regions.
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Technavio’s research analysts categorize the global HMD market by end-users:
Global head-mounted display (HMD) market share by end-user 2015
|
Defense |
68.46% |
|
Industrial |
19.85% |
|
Healthcare |
6.58% |
|
Individual Consumers |
5.11% |
Source: Technavio
HMD market by defense applications
The defense sector dominated market accounting for around 68% of the total market share and will grow at a CAGR of about 48% by 2020. HDMs are mainly used for training simulation and analyzing and tracking of military maneuvers in the defense sector. Some of the key uses of HMDs in the defense sector include navigation, situational awareness, targeting, night vision systems, visual enhancement, security monitoring, simulation and training, maintenance and inspection, and remotely-piloted vehicle interface.
“The use of HDMs in the aviation sector is primarily to improve operations, safety, and situational awareness. Several companies are now developing HDMs with virtual reality (VR) technologies the enable the pilot with navigation and tactical information. The integration of HDMs with Aero glass allows the pilot to visualize terrain, handle navigation, also maintain important safety protocols,” say Sunil Kumar Singh, a lead analyst at Technavio for research on embedded systems.
The simulators use advanced computer models to replicate a vehicle’s limitations and capabilities within a safe environment in the defense sector for training purposes. The use of these technologically advanced simulators helps soldiers to acquaint with navigation and functioning operations within a counter-insurgency landscape.
HMD market in the industrial sector
The applications of HMDs in the industrial sector is mainly to improve processes, and the segment will grow at a CAGR of almost 41% by 2020. AR devices provide cost-efficient and error-free operations to warehouse workers during manual functions. For instance, DHL recently conducted a pilot plan in a warehouse, reducing the number of errors when picking up objects. Also, VR device like Google Glass can provide firefighters with vital information like floor plans and emergency exits during a fire emergency.
HMD market in the healthcare sector
The advent of HMDs doctors will receive real-time information through the internet and can analyze reports online without the patient physically being present in the clinic. The doctors will be able to access all updated data about the patient through the internet. Moreover, hospital systems will be able to record and store a patient’s diagnosis, and medical history seamlessly in archives. This information will be readily available to all doctors and patients during any case of medical emergencies. The emergence of telemedicine enables doctors to diagnose a patient from a remote location and helps in the growth of the HMD market.
HMD market among individual consumers
AR and VR applications in mobiles and gaming are the primary drivers for the growth of this market segment. This segment is predicted to grow at a CAGR of around 62% during the forecast period. The rising demand for VR and wireless gaming experiences by consumers will lead to the growth of the HMD market. For instance, gaming products like Facebook’s Oculus VR and Samsung’s Gear VR are revolutionizing the market. Sectors like logistics, engineering, firefighting, and automotive also have AR and VR applications.
The top leading vendors operating in the global HMD market are:
- BAE Systems
- Cinoptics
- Elbit Systems
- Kopin
- Oculus VR
- Rockwell Collins
- Seiko Epson
- Sensics
- Sony
- Thales
- Trivisio Prototyping
- Vuzix
Some of the other prominent vendors include Apple, Avegant, Beijing ANTVR Technology, Carl Zeiss, Google, HTC, Microsoft, Optinvent, Samsung, Shoogee, and Vrizzmo.
A more detailed analysis is available in the Technavio report titled, ‘Global HMD Market 2016-2020’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global 3D Display Market 2016-2020
- Global Advanced Combat Helmet Market 2016-2020
- Global Smart Wearable Entertainment Devices and Services Market 2016-2020
- Global Mobile Augmented Reality Market 2016-2020
- Virtual Reality (VR) in Global Gaming Market 2015-2019
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