The US, Canada, and Mexico are major economies in North America. As the 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 application due to availability of low-cost HMD devices and demand of enhanced gaming experience. As a result, the head-mounted display supports boosting the users' enjoyment while making the game more interesting to play. Therefore, the rising launches of VR games have been witnessed over the years and is driving the growth of head-mounted display market. Moreover, increasing growth of gaming industry and rising product development will rise the demand of HMDs in VR gaming and drive the growth of head-mounted display market. For instance, in March 2021, Sony launch 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 and education, and customer leisure purposes have significantly increased demand for head mounted displays. AR and VR technologies enable a person to view, feel, and experience a stimulation almost close to an environment/surrounding without being physically present there. For instance, a surgeon can perform an artificial surgery using AR/VR on any organ to study and understand the patient’s condition better and choose the most optimum surgery plan.
Moreover, head-mounted displays are used in many other applications such as virtual shopping, navigation, automotive, remote education, and remote assistance & maintenance, among others. AR/VR technology in retail applications is used for visualizing product, showroom enhancement, and in house navigation. With the help of AR-based virtual fitting solution (Smart Mirror) customers can try a dress, top, or any other piece of clothing on their virtual models displayed in the mirror. In retail, HMDs are often included to improve customer experience with the help of VR based technologies. Further, the demand for AR technology will further accelerate owing to the rising innovations in AR headsets. Thus, rise in the adoption of AR/VR technologies in various application will drive the market growth.
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. This is due to increased consumer time spent on AR/VR technologies for different purposes, such as entertainment & leisure.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the North America head mounted display market. The North America head mounted display market is expected to grow at a good CAGR during the forecast period.
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 2,271.75 Million |
| Market Size by 2028 | US$ 13,091.35 Million |
| CAGR (2021 - 2028) | 28.4% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Type
|
| Regions and Countries Covered |
North America
|
| Market leaders and key company profiles |
|
The North America Head Mounted Display Market is valued at US$ 2,271.75 Million in 2021, it is projected to reach US$ 13,091.35 Million by 2028.
As per our report North America Head Mounted Display Market, the market size is valued at US$ 2,271.75 Million in 2021, projecting it to reach US$ 13,091.35 Million by 2028. This translates to a CAGR of approximately 28.4% during the forecast period.
The North America Head Mounted Display Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the North America Head Mounted Display Market report:
The North America Head Mounted Display Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The North America Head Mounted Display Market report is valuable for diverse stakeholders, including:
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