While the furor for smartphones and tablets is starting to slowly but surely die down, consumers are looking for new devices to get excited about. That is one reason that a new report by Transparency Market Research says devices that have head mounted displays are about to explode. In particular, gadgets like Google Glass and Oculus Rift are expected to see their market expand to more than $930 million by the end of 2019.
Revenues getting close to $1 billion dollars by the end of this decade would mean a jump of more than 55 percent from the current dollar numbers. The head mounted display market is one that is still largely untapped, except for specialty devices like Google (News - Alert) Glass. 3D visors and the like have actually been out on the market for a while, but so far they just haven’t caught on.
Transparency Market Research believes that the desire to find something new will drive the market quickly in the next few years. Wearable technology in general is getting much bigger. Tech hungry consumers feel as though they have seen all they are going to see from devices like tablets and smartphones. There will be little tweaks here and there from those gadgets, but nothing game changing is coming down the pike.
When it comes to head mounted devices (HMDs), North America is currently controlling the market as far as sales are concerned. Asia is coming in a close second and the rate of growth in the market there is faster than anywhere in the world. HMDs come in both consumer and professional categories and it seems likely that the professional varieties of different HMD will drive the market forwards at a rather impressive rate. National defense is another area that factors into the demand for HMDs and their presence can be both surprising and a boon for companies that are working on HMDs.
Edited by Alisen Downey
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