The Global Virtual Reality Market is projected to reach a value of over USD 79.89 billion by 2027 at a CAGR of around 28.7%.
Virtual reality is the use of computer technology to create a simulated environment. In other words, virtual reality is a three-dimensional, computer generated environment which can be interacted and explored with by a person. That person becomes part of this virtual world or is immersed within this environment and whilst there, is able to manipulate objects or perform a series of actions. As compare with traditional user interfaces, VR places the user inside an experience. Head mounted display (HMD) is most immediately-recognizable component in virtual reality system which is further used as output device. Google, Microsoft, Sony Corporation, HTC Corporation are the key players in the virtual reality market.
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Virtual Reality Market: Driver & Opportunity
- Growing Demand of HMD in Gaming and Entertainment
More technological developments in wireless technologies, communication technologies, and rising need for gaming and entertainment will increase the HMD market in various developing countries. Moreover, increasing smartphones with greater display quality and high resolution will also add more value in HMD market. Oculus Rift is one of the popular HMD in gaming market. This device provides various features for gaming applications such as provision of bright, vivid colors and a reduced "screen-door" effect, speed, comfort, and more advanced realistic precisions. Hence HMD will have expected to drive the virtual reality market during assessment period.
- Increasing Need for HMD in Engineering and Architectural Applications
Virtual reality design software offers better interactivity to understand the spaces used in your design. VR can be use in engineering and architectural applications for creating individual experience, understanding the space, more affordable creation of design, and to train new peoples who joins the organization. In next five years, the use of VR will increase in engineering and architecture industry to set a digital process with less time and improving operational performance. Hence it will become an opportunity for the virtual reality market during growth period.
Virtual Reality Market: Key Segments
- Segmentation based on component: Hardware and Software
- Segmentation based on technology: Non-Immersive, Semi-Immersive, and Total/Full Immersive
- Segmentation based on end use industry: Media & Entertainment, Consumer Electronics, Healthcare, Military & Defense, Automotive, Sports, Building & Construction, Education, Engineering, and Others
- Segmentation based on region covers: North America, Europe, Asia-Pacific, Middle East & Africa and South America, with individual country-level analysis.
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List of the leading companies operating in the Virtual Reality Market include:
- Google (Company Description, Company Overview, Product Synopsis, Key Developments, SWOT Analysis)
- Facebook Technologies, LLC
- SAMSUNG ELECTRONICS CO., LTD.
- Qualcomm Technologies, Inc.
- Sony Corporation
- HTC Corporation
- Sixense Enterprises Inc.
- EON Reality
- CyberGlove Systems Inc.
- Vuzix Corporation
- Avegant Corp.
Virtual Reality Market: Report Segmentation
For the scope of the report, In-depth segmentation is offered by Forencis Research
Virtual Reality Market, by Type
- Radio Charging
- Inductive Charging
- Resonance Charging
Virtual Reality Market, by Component
Virtual Reality Market, by Application
- Smartphone & Wearables
- Notebooks & Tablets
- Power Tools & Service Robots
- Multicopters & Electric Toys
- Medical Devices
- Smart Home & IoT Devices
- In-Car Charging
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Virtual Reality Market by Region
· Asia-Pacific (China, Japan, South Korea, India, Taiwan, Rest of Asia-Pacific)
· North America (US, Canada, Mexico)
· Europe (Germany, Russia, France, Italy, UK, Spain, The Netherlands, Rest of Europe)
· Middle East and Africa (Saudi Arabia, UAE, Rest of Middle East & Africa)
· South America (Brazil, Argentina, Rest of South America)
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