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Utilization of Modern Technologies like Augmented Reality (AR) among Various Sectors to Boost Growth Prospects of Head Mounted Display Market between 2019 and 2027: TMR
ALBANY, N.Y. , Feb. 18, 2021 /PRNewswire/ -- Advancements in wearable technologies are at an all-time high. The increasing demand from the consumers for modern and technologically-advanced wearables will bring tremendous growth opportunities during the assessment period of 2019-2027. Features such as high resolution and 3D viewing invite substantial growth opportunities for the head mounted display market.
A head mounted display is used for projecting a virtual environment in the wearer's eye. It has a small display optic in the front. The growing adoption of eyewear types that offers information about the surrounding without disturbing the normal view will lay a red carpet of growth across the head mounted display market.
Transparency Market Research has a team of efficient researchers and experts. They have analyzed every growth aspect of the head mounted display market closely. After a thorough analysis, the Transparency Market Research (TMR) experts predict that the global head mounted display market will record a CAGR of 22.3 percent during the tenure of 2019-2027. The global head mounted display market is prognosticated to reach a valuation of US$ 46,530.7 mn by the end of the forecast period. The head mounted display market was US$ 9,275.4 mn in 2019 in terms of value.
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The growing demand for head mounted displays in the defense sector will help the global head mounted display market to incur extensive growth. The heightening use of these displays for security purposes will invite exponential growth opportunities. Target tracking and top-quality night vision are some of the prominent requirements of the military. As head mounted displays fulfill these requirements seamlessly, the demand for these displays is increasing at a rapid rate.
Analyze global head mounted displays market growth in 30+ countries including US, Canada , Germany , United Kingdom , France , Italy , Russia , Poland , Benelux, Nordic, China , Japan , India , and South Korea . Request a sample of the study
The escalating use of technologies like augmented reality (AR) across numerous applications is on a rise. The heightening utilization of AR in applications across manufacturing, logistics, warehouses, assembly, and others will prove to be promising growth generators for the head mounted display market. More applications in various sectors are being rapidly added, further increasing the growth aspects of the head mounted display market.
Large firms and conglomerates are looking for ripe investments across the head mounted display market. The heightening popularity of head mounted displays among a considerable populace seems bright enough for the investors to invest in this sector. Hence, the infusion of extensive investments across many players will attract substantial growth prospects for the head mounted display market.
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IT & Telecom Industry
Extended Reality [XR] Market – The global extended reality (XR) market is expected to grow at a staggering CAGR of 45% during the assessment period. The market growth is driven by a range of factors, including increasing smartphone penetration, rising demand for digital environments, growing popularity of augmented reality and virtual reality technologies, and its applicability across various end-use industries.
Intelligent Virtual Assistant Market – The intelligent virtual assistant market is expected to register a CAGR of 33% between 2020 and 2030. The market is projected to be driven by increasing scope of advancement in multicore and artificial intelligence technology for the consumer electronics sector across the globe.
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