Mar 30, 2020 (AB Digital via COMTEX) -- The HMD market is expected to be worth USD 25.01 billion by 2022, growing at a CAGR of 38.8% between 2017 and 2022. Key opportunities for this market are growing use of HMDs for gaming in consumer application and increasing patent portfolio. The major factor driving the growth of the HMD market is increasing investments by major players.
Key strategies adopted by the major players in the HMD market are product launches; mergers and acquisitions; and partnerships, agreements, collaborations, and expansions between 2013 and 2017 to grow in the market. Companies such as Vuzix Corporation (US), Kopin Corporation, Inc. (US), Recon Instruments, Inc. (Canada), Samsung Electronics Co., Ltd. (South Korea), Sony Corp. (Japan), Microsoft Corp. (US), and HTC Corporation (Taiwan) have adopted these strategies to expand their customer base and enhance their product portfolio.
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Samsung Electronics Co., Ltd. (South Korea) held the first position in the HMD market. The company has strategic alliances, partnerships, and collaborations all over the globe, strengthening its presence in the market. In November 2015, the company launched Gear VR headset in its virtual reality product portfolio in collaboration with Oculus VR, LLC (US). Samsung Gear VR is designed to work with Samsung’s flagship smartphones. Samsung Gear VR is one of the low-cost VR headsets. In March 2017, Samsung collaborated with Star VR Corporation (China) and Chris O’Brien Lifehouse (Australia) to produce virtual reality platform that can be applied to healthcare applications. Samsung has a number of R&D centers strategically spread across the globe. Presently, the company is focusing on augmented reality applications for its smartphones. In addition, it provides wearables with augmented and virtual reality experiences. It focuses on product innovations and technological advancements to increase its share in booming markets such as virtual reality and augmented reality.
Sony Corporation (Japan) is one of the leading manufacturers of audio, video, imaging, gaming, communications, and information technology products for the consumer and professional markets. The company focuses on investing more in R&D, adding new products to its portfolio, and collaborating with other companies, which would further increase its revenue and expand its customer base. In October 2016, the company launched PlayStation VR (PS VR) in its virtual reality portfolio. The headset comes with a 5.7-inch FHD display (OLED type), splits across both the eyes, providing about 100° field of view. The PS VR measures about 185 x 187 x 277 mm and weighs at 610 grams.
Other companies operating in the HMD market are BAE Systems, Inc. (US), HTC Corporation (Taiwan), Oculus VR, LLC (US), Microsoft Corporation (US), Seiko Epson Corporation (Japan), Google Inc. (US), Kopin Corporation (US), Osterhout Design Group (US), Recon Instruments, Inc. (Canada), Rockwell Collins, Inc. (US), Sensics, Inc. (US), Thales Visionix, Inc. (US), and Vuzix Corporation (US).
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