Report : 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)
Sports & Leisure Segment to Dominate Europe Head Mounted Display Market during 2020–2028
According to a new market research study on “Europe Head Mounted Display Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Type, Application, Component, Technology, Design and Connection” is expected to reach US$ 14,050.51 million by 2028 from 1,902.67 US$ million in 2021. The market is estimated to grow at a CAGR of 33.1% from 2021 to 2028. The report provides trends prevailing in the Europe head mounted display market along with the drivers and restraints pertaining to the market growth. Rising usage of AR/VR headsets across military sector is the major factor driving the growth of the Europe head mounted display market. However, issues associated with heavy weight of HMD modules hinder the growth of Europe head mounted display market.
Europe head mounted display market is segmented into type, application, component, technology, design and connection and country. Based on type, the Europe head mounted display market is segmented into integrated HMD, discrete HMD, and slide-on HMD. The discrete HMD segment led the Europe head mounted display market in 2020. Based on application, the Europe head mounted display market is segmented into training and simulation, sports and leisure, imaging, defense and security, and others. The sports & leisure segment led the Europe head mounted display market in 2020. The Europe head mounted display market by component band has been segmented into display screens, controller, sensors, cameras, and others. The sensors segment led the head mounted display market with a market share in 2020. Based on technology, the Europe head mounted display market is segmented into augmented reality (AR), virtual reality (VR), and Mixed Reality (MR). The Virtual Reality (VR) segment led the market with a market in 2020. Based on design, the Europe head mounted display market is bifurcated into head mounted displays and wearable glasses. The head mounted displays (HMD) segment led the market in 2020. Based on connection, the Europe head mounted display market is segmented into wired, wireless, and hybrid. The wireless segment led the market in 2020. Based on country, the Europe head mounted display market is segmented into France, Germany, Italy, UK, Netherlands, and rest of Europe. Germany held the largest market share in 2020.
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.
BAE Systems; Google LLC; HTC Corporation; Lenovo Group Limited; Microsoft Corporation; Samsung Electronics Co., Ltd; Seiko Epson Corporation; and Sony Corporation are among the leading companies in the Europe head mounted display market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market.
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