North America 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), Co

North America 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 North America is expected to grow from US$ 2,271.75 million in 2021 to US$ 13,091.35 million by 2028; it is estimated to grow at a CAGR of 28.4% from 2021 to 2028. Military operations are becoming increasingly diverse. Military has researched new tools for use during operations and its training to cope with new and more demanding tasks. Many of the military requirements and capabilities have specifically driven the development of AR systems. Military HMDs generally do not display videos or media, but rather provide information and tracking as part of a vehicle’s heads-up display. Moreover, the global head mounted display market growth is primarily driven by the rise in the adoption of HMD for defense & military applications. The rising adoption of AR/VR headsets in the military is due to the various advantages, such as it undertakes a huge range of simulations without the associated costs, thus massively reducing training budgets. Furthermore, in 2019, as part of a new effort to develop advanced technologies to enhance situational awareness and capabilities for soldiers, the US Army invited Microsoft engineers and other employees to a military base in North Carolina for signing a contract of delivering AR/VR headsets. Thus, the above-mentioned initiation and development of AR/VR technologies in military sectors will drive the growth of head mounted display market.

Based on type, the North America head mounted display market is segmented into integrated HMD, discrete HMD, and slide-on HMD. The discrete HMD segment led the North America head mounted display market in 2020. Integrated HMD is the most sophisticated and expensive type of virtual reality HMD and augmented reality OHMD. This independent computing device can deliver VR/AR experiences without any external hardware, such as PCs or smartphones. It contains the display, processors, and camera; it can display stereoscopic 3D images, perform complex tracking, and utilize advanced input methods. With the growing demand for HMDs and advancements in them, it is expected that integrated HMDs will play a key role in the development of the overall HMD market.

During the COVID-19 pandemic, the North American countries have faced so many challenges due to the restrictions imposed by respective governments. The demand for electronic components increased as several companies resumed their operations remotely. Therefore, to operate under an automated environment, increased deployment of electronic systems was witnessed during FY 2020. This has driven the demand for head mounted displays across the countries, such as the US, Canada, and Mexico. Moreover, the demand for consumer electronics reduced during the first half of 2020 across the US. However, the market in the US was estimated to garner a y-o-y growth of ~6% during 2020 in the North America head mounted display market.

The North America 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 North America head mounted display market with respect to all the market segments. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain more analytical insights into the topic. The participants involved in this 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 North America head mounted display market. BAE Systems; Google LLC; HTC Corporation; Lenovo Group Limited; Magic Leap, Inc.; Microsoft Corporation; Oculus VR; 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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