Report : Middle East and Africa 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)
Virtual Reality Segment to Dominate MEA Head Mounted Display Market during 2020–2028
According to a new market research study on “MEA 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$ 4,346.77 million by 2028 from 640.18 US$ million in 2021. The market is estimated to grow at a CAGR of 35.0% from 2021 to 2028. The report provides trends prevailing in the MEA head mounted display market along with the drivers and restraints pertaining to the market growth. Increasing expenditure by major players in development of HMDs is the major factor driving the growth of the MEA head mounted display market. However, issues associated with heavy weight of HMD modules hinder the growth of MEA head mounted display market.
MEA head mounted display market is segmented into type, application, component, technology, design and connection and country. Based on type, the MEA head mounted display market is segmented into integrated HMD, discrete HMD, and slide-on HMD. The discrete HMD segment led the MEA head mounted display market in 2020. Based on application, the MEA 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 MEA head mounted display market in 2020. The MEA 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 MEA 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 MEA 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 MEA head mounted display market is segmented into wired, wireless, and hybrid. The wireless segment led the market in 2020. Based on country, the MEA head mounted display market is segmented into Saudi Arabia, South Africa, UAE, and rest of MEA. UAE held the largest market share in 2020.
In the MEA, various sectors, such as automotive, healthcare industry, consumer electronics, retail, and industrial manufacturing along with many small and medium-sized enterprises (SMEs), faced difficulties in running their businesses. Manufacturing units are shut down due to continuous lockdowns, social distancing norms, and limited employees available to run production lines with all safety measures, owing to the slowdown of the head mounted display market growth in the region. Many Arab countries are mainly driven by consumer, electronics, retail, manufacturing, energy, and IT & telecom sector. The adoption of AR/VR headset technologies has been on the rise across this region due to several factors, such as booming growth in the gaming industry, industrial automation, and precise manufacturing. However, the market is expected to witness a significant growth in 2021 across the region compared to 2020 due to the rising investments across AR/VR technologies among different industries.
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 MEA 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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