LONDON--(BUSINESS WIRE)--The global head-mounted display (HMD) market is expected to grow at a CAGR of approximately 37% during the period 2018-2022, according to the latest market research report by Technavio.
A major factor driving the growth of the market is the increase in military expenditure. The world’s expenditure for the military sector increased in 2016, particularly the US. However, it declined in oil-extracting countries. The expenditure increased by 0.4% in 2016 when compared with 2015. The military and defense expenses are determined based on the economic and political scenario of a country. Globally, generally, the US has the highest military expenditure.
Technavio’s new market research report on the global head-mounted display market provides an analysis of the most important trends anticipated to impact the market outlook during the forecast period. Technavio predicts an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the incorporation of gesture recognition in HMDs as one of the key emerging trends in the global head-mounted display market:
Incorporation of gesture recognition in HMDs
Like smart glasses, HMDs can be designed and developed with gesture recognition capabilities. A major vendor’s gesture control technology will offer users improved interaction capabilities, making them less dependent on touchpads and buttons. This will help in offering the customers smart glasses equipped with intuitive and reliable touchless gesture interaction, suited both for a demanding industry environment and as well as the consumer market.
“HMD vendors can incorporate gesture recognition technology in their devices, which can be used across industrial workshops. Gesture recognition can be used as an alternative to voice commands to control AR HMDs with the help of depth sensors. Depth sensing allows the user to touch and swipe virtual controls in the user’s field of view,” says a senior analyst at Technavio for research on embedded systems.
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Global head-mounted display market segmentation
This market research report segments the global head-mounted display market into the following applications (combat and aviation and training and simulation), end-users (defense and industrial), and key regions (the Americas, APAC, and EMEA).
The combat and aviation segment held the largest market share in 2017, accounting for more than 57% of the market. The market share for this application is expected to increase by nearly 17% by 2022.
The Americas was the leading region for the global head-mounted display market in 2017, accounting for a market share of over 42%. The market share for this region is expected to increase by nearly 4% by 2022.
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