The
global head mounted display market is expected to reach USD 11,793.3 million by
2020. Reducing silicon wafer costs have directly impacted microdisplay prices,
which form a sizable percentage of the resultant HMD cost.
As
a result, declining microdisplay prices coupled with growing demand for
wearable, lightweight devices are expected to be key driving forces for the HMD
market. Defense services are a key contributor to global demand, wherein head
mounted displays aid in security, imaging and tracking.
Head
mounted displays offer high degree of mobility and computing power, which has
led to increasing market penetration in the consumer sector. Growing demand
from automotive prototyping is expected to be a key opportunity for industry
participants. Lack of standardization resulting in design issues may restrain
market growth over the next six years. This can be mitigated with the help of
establishment of necessary guidelines for HMD production.
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Further
key findings from the study suggest:
Helmet
mounted displays accounted for over 60% of the head mounted display market in
2013; these products are expected lose market share due to growing popularity
of wearable glass. They are expected to continue enjoying widespread use in
defense applications over the next six years.
Defense
accounted for over 70% of the head mounted display market in 2013, and is
expected to remain the dominant end-use segment over the forecast period. HMDs
prove highly efficient during training regimes and in locations with poor
visibility. Increasing popularity of augmented and virtual reality is expected
to drive the consumer segment over the next six years.
Training
and simulation is expected to continue accounting for majority of the overall
market through 2020. This is a result of the growing use of HMDs in medical as
well as military training modules.
North
America accounted for over 35% of the global HMD market in 2013; Asia Pacific
is expected to exhibit high growth over the forecast period. Establishment of
manufacturing facilities along with technology advancement due to the presence
of Japan, South Korea and China is expected to fuel regional market growth.
Key
companies operating in the market include eMagin Corporation, BAE Systems,
Vuzix, Rockwell Collins and Seiko Epson. Major manufacturers have started
developing products targeted at entertainment purposes; additionally,
geographical expansion is expected to be a key growth strategy.
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