Asia Pacific Head Mounted Display Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type (Integrated HMD, Discrete HMD, and Slide-On HMD), Application (Training & Simulation, Sports & Leisure, Imaging, Defense & Security, and Others), Com

Asia Pacific Head Mounted Display Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type (Integrated HMD, Discrete HMD, and Slide-On HMD), Application (Training & Simulation, Sports & Leisure, Imaging, Defense & Security, and Others), Component (Display Screens, Controllers, Sensors, Cameras, and Others), Technology (Augmented Reality, Virtual Reality, and Mixed Reality), Design (Head Mounted Display and Wearable Glasses), and Connection (Wired, Wireless, and Hybrid)

The head mounted display market in APAC is expected to grow from US$ 2,726.07 million in 2021 to US$ 22,266.30 million by 2028; it is estimated to grow at a CAGR of 35.0% from 2021 to 2028. There has been a significant increase in the investments toward the development of HMDs, and the use of such devices in various applications globally. Head mounted display market players are extensively investing in latest technologies that could reduce the weight of the devices, enhance the user’s experience, and are comparatively cheaper. Companies, such as Facebook Corporation; Intel Corporation; Qualcomm, Inc.; Alphabet, Inc.; Comcast Ventures; and Samsung Group are investing heavily in the HMD market. Also, several research institutes are performing research in the AR application market for various products and applications. For instance, in January 2021, the Google Cloud platform has entered into a multi-year, multi-phased strategic cooperation agreement with Magic Leap. The partnership is aimed to meet the needs of businesses by offering spatial computing solutions to its consumers.

Furthermore, the introduction of lightweight wearable technology has led to innovations in the field of head-mounted displays due to which leading manufacturers began positioning them as consumer products, which contributed to the growth of the head mounted display market.

Based on technology, the APAC head mounted display market is segmented into augmented reality, virtual reality, and mixed reality. The virtual reality segment led the APAC head mounted display market in 2020. A virtual reality headset is a head mounted device that provides virtual reality for the wearer. Virtual reality (VR) headsets are widely used with video games and in other applications, including simulators and trainers. They comprise a stereoscopic head-mounted display (providing separate images for each eye), stereo sound, and head-motion-tracking hybrid, which may include devices such as gyroscopes, accelerometers, magnetometers, or structured light systems. The growing adoption of VR headsets for gaming applications along with the deployment of multimedia modules across different commercial buildings, such as scientific research institutes, educational facilities, gaming applications, and entertainment applications are major growth factors of head mounted display market.

The developing countries have insufficient health infrastructure, which led to the increase in COVID-19 cases in 2020. As per the organization for economic co-operation and development (OECD), the COVID-19 pandemic has negatively affected significant economies, such as India, Australia and Japan. Due to inadequate health and medicine facilities, government authorities had to impose restrictions, such as limited workforce at production sites. China and India witnessed an increase in the demand for AR/VR headsets in 2020. Most of the major HMD manufacturers are based in APAC. This is another major factor behind the dominance of this region in the market wherein the vendors have also faced supply chain issues in 2020 that has led to slow down in the growth of the head mounted display market.

The APAC head mounted display market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining an overview and forecast for the APAC head mounted display market with respect to all the segments pertaining to the region. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants who typically take part in such a process include industry experts, such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants, such as valuation experts, research analysts, and key opinion leaders specializing in the APAC head mounted display market. BAE Systems; Google LLC; HTC Corporation; Lenovo Group Limited; Microsoft Corporation; Samsung Electronics Co., Ltd; Seiko Epson Corporation; and Sony Corporation are among the key players operating in the market in this region.

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