The evolution of the gaming industry has fueled the demand for advanced technologies. Users are looking for a more immersive experience, which has led to the advent of headsets. According to a study by Future Market Insights (IMF), the headset market will exceed US $ 10.47 billion in 2021. Growing demand from aerospace and defense and other industries in addition to the games sector will continue to create lucrative growth opportunities.
Headsets are often used in military training applications for the purpose of creating a synthetic training environment (STE). STE is an augmented reality (AR) system that creates military training in an immersive way. It helps improve the exercises of soldiers like snow-capped mountains and deserts, navigation, deep forests and teamwork.
HMDs integrated with AR / VR technology are used in training and simulations for the purposes of war simulations, battlefield visualizations, tactical augmented reality, digital twins, spatial orientation, knowledge of the situation, weapon targeting, digital terrain and many more.
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Thanks to the evolution of technology, headsets are making inroads into the health and education sectors. The rate at which change is occurring accelerated amid the COVID-19 outbreak when several schools and institutions around the world were forced to retreat indoors for a few months to contain the spread of the virus.
Sales of headsets and glasses have increased exponentially amid the lockdown and the trend is unlikely to slow down in the near future. Headsets were the top sales in the market, according to the report. Headsets segment is expected to register a CAGR of 24.8% during the forecast period due to the growing need for rapid and reliable evolution between the gaming, aerospace, defense and healthcare industries. .
Key takeaways: head mounted display market
- Driven by growing demand for ever-changing technologies, the head-mounted display market will grow over 16% year-on-year in 2021
- The United States will become the number one market in North America, accounting for over 79% of sales
- Demand in the UK will increase dramatically, allowing annual growth of over 13% in 2021
- The inclination for advanced technologies and the expansion of the gaming sector will support growth in Germany and France
- East Asia will become a very lucrative market with China leading the way, followed by Japan and South Korea
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“In response to the growing demand for headsets, HMD vendors are making numerous updates to their pre-existing models to provide a greater immersive experience for users and ensure maximum productivity,” says analyst FMI.
Impact analysis of COVID-19 on the head-mounted display market
The effects of the COVID-19 epidemic will extend far beyond health and the threat to human life. There are already signs that the virus will have a significant impact on headsets and the AR / VR industry. The epidemic has postponed or canceled various sporting events for the safety of people and the prevention of COVID-19.
On the other hand, it could positively affect the demand for HMD VR / AR in the healthcare sector. Amid the pandemic, various global vendors continued to focus on the development and innovation in AR / VR technologies by launching advanced products such as smart glasses, such as Google and Microsoft.
During the COVID 19 pandemic, most countries opted for lockdown. People were stuck in their homes for a while and all sporting events were postponed or canceled for the same reason. People found AR / VR games more entertaining and engaging because they stayed confined to their homes. Thus, continuous innovation in headsets in AR / VR technologies has resulted in significant market growth.
Growing demand in the healthcare sector, the engine of growth
HMDs are used in the healthcare industry for the purposes of medical education, patient treatment, medical marketing, and disease awareness.
Using VR headsets, doctors can see the smallest details of any part of the body in a 360 ° CGI reconstruction and create training scenarios accordingly. VR headsets allow doctors to access the inside view of the body, which is difficult to reach.
According to eInfochips, the augmented reality and virtual reality industry will reach US $ 35 billion by 2025, due to its adoption in gaming, education, fashion, healthcare and entertainment.
In the healthcare industry, HMD applications are used to provide surgical training, dental simulation, treatment of depression and post-traumatic stress disorder (PSTD), pain management, addictions, telemedicine, stroke and dementia rehabilitation and many more.
With the help of AR / VR headset technology, doctors can perform surgeries without entering the human body. The technology increases the level of precision and reduces the risk of trauma and complications. VR has major effects on anxiety and PTSD patients. The use of VR headsets reduces the stress level of patients by offering them the experience of virtual reality.
Scope of Head Mounted Displays Market Report
|Historical data available for||2016-2020|
|Market analysis||US $ million for value and units for volume|
|Key regions covered||North America, Latin America, Europe, East Asia, South Asia and the Pacific, and Middle East and Africa|
|Key countries covered||United States, Canada, Germany, Italy, France, United Kingdom, Spain, CCG and South Africa|
|Key segments covered||Product type, HMD type, applications and region|
|Key companies profiled||
|Personalization and prices||Available on demand|
More Valuable Information About Head Mounted DisplayMarket
The FMI Headsets Market report is segmented into four main sections such as Product Type (Head Mount & Goggles), HMD Type (Discrete HMD, Integrated HMD & Sliding HMD), Application (Gaming) , media and entertainment, aerospace and defense, healthcare and medical devices, engineering and industrial applications, education and others) and region (North America, Latin America, Europe, East Asia, South Asia and the Pacific , Middle East & Africa) to help readers understand and assess the lucrative opportunities in the head-mounted display market.
About the Technology Division of Future Market Insights
The Technology The Future Market Insights team delivers expert analysis, rapid research, and strategic recommendations with the goal of delivering authentic insights and accurate results to help customers around the world. With a repository of over 100 reports and over one million data points, the team has been keenly analyzing the industry in over 50 countries for over a decade. The team provides a brief analysis of key trends including the competitive landscape, profit margin, and research development efforts.