ALBANY, New York, April 27, 2016 /PRNewswire/ --

According to a new market report published by Transparency Market Research "Head Mounted Display Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2022", the HMD market was valued at USD 430.4 million in 2012, which is expected to reach USD 20,450.5 million by 2022, growing at a CAGR of 45.2% from 2014 to 2022. 

Increasing demand for light-weight portable computing devices coupled with growing demand from consumer market segment are the major driving forces for the growth of HMD market. Increasing demand from consumer market segment is mainly owing to advancements in display technologies, offering superior capabilities such as 3D viewing and high resolution to the end-users. In addition, regulated demand from defense services and increasing use in medical practices is expected to have positive impact on the market revenue growth over the forecasted period. In the next few years, HMDs are expected to find increasing use in medical practices for different types of surgeries and dentistry practices. The use of HMDs in automotive prototyping i.e. virtual designing of a car and cloud computing is expected to open new possibilities for the HMD market. 

Browse the Press Release of this report, here: http://www.transparencymarketresearch.com/pressrelease/head-mounted-displays-market.htm

Helmet mounted displays was the largest product segment, accounting for around 66% of the overall market revenue in 2013. However, wearable glasses segment is expected to surpass the helmet mounted display market over the forecast period. This is mainly driven by the inclination of users towards light-weight head-worn display devices. In terms of end-use, the defense service segment held the largest revenue share and was valued at approximately US$ 483.2 million in 2013. The consumer market segment is expected to witness the fastest growth, growing at a CAGR of 53.2% between 2014 and 2022. Although North America is expected to be the largest HMD market throughout the forecast, Asia Pacific is poised to exhibit the fastest growth, growing at an expected CAGR of 48.2% from 2014 to 2022. This is mainly owing to the increasing demand from medical and consumer market segments in the region.

 The global HMD market is highly fragmented and competitive. Major industry participants include BAE Systems Plc, Elbit Systems Ltd., Vuzix Corporation, eMagin Corporation, Sony Corporation, Kopin Corporation, Rockwell Collins, and Seiko Epson Corporation, among others. The report studies the global HMD market, and provides estimates in terms of revenue (US$ Million) from 2014 to 2022. Market estimates on the basis of end-use and product type have also been provided for each region. 

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The market has been segmented as follows: 

Head Mounted Display, by End-use 

• Defense
• Air Force
• Military
• Navy
• Consumer market
• Video gaming
• Augmented reality
• Virtual reality
• Others
• Automation
• Medical practices
• Safety practices
• Sports
• Others (police force and design)

Head Mounted Display Market, by Type: 

• Helmet Mounted Display
• Wearable Computing Glasses

Head Mounted Display Market, by Components 

• Goggles
• Relay Optics
• Control Unit
• Accessories
• Head Tracker
• Battery
• Computing
• Pico Projectors
• Digital Light Processing
• Liquid Crystal on Silicon
• Laser Beam Steering
• Others

Head Mounted Display Market, by Application 

• Security
• Training and Simulation
• Tracking
• Imaging

Head Mounted Display Market, by Geography: 

• North America
• Europe
• Asia Pacific
• Middle East and Africa
• Latin America

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SOURCE Transparency Market Research