At a CAGR of 46.0%, the Head-Mounted Display Market is anticipated to increase from USD 5.5 billion in 2021 to USD 36.5 billion by 2026. The Head-Mounted Display Market is primarily driven by an increase in investments by major players in the development of HMDs, greater acceptance of AR and VR technologies as a result of COVID-19, accessibility of low-cost HMDs, technological improvements, and expanding digitalization.
As they improve the gameplay experience, HMDs are widely used in video games. PlayStation (PS) has increased consumer interest in HMDs. With the advent of VR and 3D technology, the gaming industry has undergone a technological revolution. Some of the major players in the market include Sony Corporation (Japan), Oculus VR (US), and HTC Corporation (Taiwan).
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Sony is widely known, particularly in the US and Japan. The business provides a wide selection of goods and services in the gaming, home entertainment, photos, and mobile industries. Among the biggest companies involved in the creation, production, advancement, and marketing of electronic devices is Sony. In addition to providing customer support services globally, it supplies electrical equipment and gadgets for the consumer and industrial industries. For instance, Sony published a video in May 2020 showing the PSVR 2 with internal sensors for finger tracking. It declared in June 2020 that PlayStation VR would still be supported on its "next-gen console."
One of the leading businesses in the VR sector is Oculus VR. Oculus Rift, the company's VR headgear, won praise from numerous businesses for its potential usefulness in a variety of applications. The business has made significant R&D investments and is actively engaged in strategic commercial expansion. Because of the significance of this technology and the potential value of Oculus's Rift project, the business was acquired by Facebook (US) in March 2014 for around USD 2 billion. In addition to consumer uses, Facebook has been using this technology in corporate sectors like gaming, architecture, education, and healthcare.
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