Europe 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

Europe 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 Europe is expected to grow from US$ 1,902.67 million in 2021 to US$ 14,050.51 million by 2028; it is estimated to grow at a CAGR of 33.1% from 2021 to 2028. Users are playing PC games with head-mounted displays that will show a higher enjoyment level compared to the users playing computer games with conventional setup. This will increase the implementation of HMDs in gaming applications due to the availability of low-cost HMD devices and the demand for an enhanced gaming experience. As a result, the head-mounted display boosts the users' enjoyment while making the game more interesting to play. Therefore, the rising launches of VR games have been witnessed over the years; it is driving the growth of the head-mounted display market. Moreover, the increasing growth of the gaming industry and rising product development will raise the demand for HMDs in VR gaming. For instance, in March 2021, Sony launched a new slate of PlayStation VR games, which includes a VR adaptation of Doom 3, I Expect You To Die 2: The Spy and The Liar, Fracked, After the Fall, Song in the Smoke, and Zenith: The Last City. Additionally, the rising importance of virtual reality (VR) and augmented reality (AR) technologies for corporate, medical, military, stimulation & education, and customer leisure purposes have significantly increased demand for head mounted displays.

Based on application, the Europe head mounted display market is segmented into training & simulation, sports & leisure, imaging, defense & security, and others. The sports & leisure segment led the Europe head mounted display market in 2020. Sports, such as drone racing, robot war, and FPV sports, are driving the demand for AR/VR technology. In most AR/VR-based sports, users wear glasses or goggles known as head-mounted displays (HMDs) allowing users to view the real world and graphics, information, or other details presented alongside. Rising awareness toward reducing harmful environmental emissions from sports vehicles and demand for reducing human intervention is driving the racing tournaments and is estimated to increase the popularity of drone racing sports. Further, growing adoption of HMD in sports across the world, increasing production, the introduction of high-speed drones, growing expenditure in research & development of flying technologies, introduction of racing sports leagues across different regions, an increasing awareness of reducing harmful environmental emissions from sport vehicles, and a growing number of racing events and other AR/VR based-sports are among the key factors driving the growth of the head mounted display market.

In Europe, major countries that are affected by the COVID-19 pandemic are Germany, France, Italy, the UK, and the Netherlands. Due to the increasing number of COVID-19 cases, a few of these countries had to impose stringent and prolonged lockdown along with social isolation in 2020. Europe accounts for ~15% of global AR/VR spend, with European spending to be US$ 1.6 billion in 2020. Europe is among the hardest hit regions by the pandemic, showing a 58% reduction in 2020 AR/VR spending compared to the pre-COVID-19-pandemic scenario.

The COVID-19 pandemic has positively affected the European head mounted display market. However, the demand for electronic devices across different commercial industries to operate remotely while following the government restrictions and operating with limited sources. Moreover, more than ~55% of the companies across Europe have already shifted most of their operations to cloud for automating their business to continue its efficiency. This has led to the rise in investments on AR/VR technology that has directly impacted the Europe head mounted display market during FY 2020. Moreover, the increased adoption of wearable technologies during the pandemic had also helped the market to grow.

The Europe 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 Europe 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 Europe 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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