The Global Location-based Virtual Reality (LBVR) Market is expected to grow at a CAGR of ~32% during the forecast period 2020-2025.
The entertainment sector has witnessed a high demand of LBVR due to increasing adoption of advanced technologies. Various digital gaming platforms are poised to grow with increasing demand for immersive environments. With the high-quality of digital content which is produced from the advanced camera systems, the acceptance and popularity of LBVR is estimated to witness high potential for the global LBVR market over the forecast period. The LBVR is predicted to hold a significant share in the virtual reality industry with major contribution from the entertainment sector. Moreover, the gaming industry is a major user of LBVR based technologies.