A brightness-perceived color appearance model tailored for large gamut display devices, exemplified by laser displays, was investigated. Psychophysical experiments on the brightness matching of 30 color stimuli with achromatic white light were conducted by 16 observers. The analysis compares the performance of a number of existing color appearance models and equivalent luminance models in predicting brightness. None of the models performed acceptably due to a severe underestimation of the Helmholtz–Kohlrausch (H-K) effect. A modified model of perceived brightness based on CAM16, taking into account the H-K effect, is proposed. Evaluated by psychophysical experiments, the proposed model exhibits a superior performance compared to the preceding models, especially within the extensive color gamut range stipulated by BT.2020. The results help to optimize the design of laser displays with a wide color gamut and high perceived brightness.