Virtual Reality Market Trend, Growth, Size, Forecast, Key Players and Competitive Landscape Research

The global virtual reality (VR) market size is expected to reach USD 43.01 Billion at a steady CAGR of 27.5% in 2028, according to latest analysis by Emergen Research. Virtual reality technology and solutions demand is increasing due to surge in usage of head-mounted displays in gaming and entertainment, as well as in the retail sector, which is expected to continue to drive market revenue growth going ahead. Virtual reality provides various benefits such as it allows users to immerse themselves in video games as one of the characters, learn to perform heart surgery virtually, and also enhances the quality of sports training to maximize performance.

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Competitive Landscape:

The research report offers key insights into the leading market players’ strengths and weaknesses, assessed using Porter’s Five Forces and SWOT analyses. The report includes Virtual Reality market segmentation based on product type, application spectrum, and key regions. The investigative study estimates the market size, market share, and revenue generation over the forecast timeframe. The key players profiled in the report include:

Key players in the market include Microsoft, Samsung Electronics, Google, Eon Reality, Sony, Mindmaze, Panasonic Corporation, HTC, Firsthand Technology, and Cyberglove Systems.

Some Key Highlights From the Report

· In March 2021, Square Yards, which is a brokerage firm, acquired PropVR, which is an AI-based platform specializing in developing digital property experiences using 3D technologies, augmented reality, and virtual reality. PropVR converts physical space or floor plan into an interactive 3D walkthrough. Square Yards covers the entire real-estate journey from search & discovery, mortgages, transactions, rentals, interiors, property management, and post-sales services.

· Virtual reality proved to be a game changer in the gaming sector as it boosts user experience. VR provides gamers with attractive virtual objects, and provides them ability to invite players into the game in the real-time. Broadcasters are also streaming live games in virtual reality and planning to sell virtual tickets to live games in the future so that anybody from any part of the world can watch the event. It will enable those fans who cannot afford to travel to the event, to be included remotely.

· North America virtual reality market accounted for the largest revenue share among other regional markets in 2020 due to rising adoption of the technology in the education system across countries in the region to help students with learning disabilities and autism. Rise in demand for virtual reality technology in the U.S. military for training purposes will also propel market growth going ahead.

The report categorizes the market into different key segments based on types and applications, along with key regional segmentation. The report offers insights into the segment expected to garner traction during the forecast period, and the region expected to dominate the market in the coming years.

· Offering Outlook (Revenue, USD Billion; 2018–2028)

o Hardware

1. Displays and Projectors

2. Sensors

3. Cameras

4. Position Trackers

5. Semiconductor Components

6. Others (Computer/video generator and combiner)

o Software

1. Cloud-Based Services

2. Software Development Kits

3. VR Content Creation

· Technology Outlook (Revenue, USD Billion; 2018–2028)

o Non-immersive

o Semi and Fully Immersive

· Device Type Outlook (Revenue, USD Billion; 2018–2028)

o Head-Mounted Displays

o Projectors and Display Walls

o Gesture-Tracking Devices

· Application Outlook (Revenue, USD Billion; 2018–2028)

o Consumer

1. Gaming and Entertainment

2. Sports

o Commercial

1. Education and Training

2. Retail and Ecommerce

3. Advertising

4. Travel and Tourism

o Enterprise

o Healthcare

1. Patient Care Management

2. Surgery

3. Pharmacy Management

4. Fitness Management

5. Medical Training and Education

o Aerospace & Defense

o Others

1. Automotive

2. Geospatial Mining

3. Real Estate (Architecture and Building Design)

Regional Analysis:

The global Virtual Reality market report broadly considers the market mechanism of both the developing and developed regions of the market. This section provides crucial data and information about the different market regions, a country-wise analysis of the Virtual Reality industry, and an assessment of the market reach and consumer base in the key geographical regions to enable readers to formulate effective business expansion strategies.

Major Geographies Encompassed in the Report:

· North America (U.S., Canada)

· Europe (U.K., Italy, Germany, France, Rest of EU)

· Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)

· Latin America (Chile, Brazil, Argentina, Rest of Latin America)

· Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

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Objectives of the Global Virtual Reality Market Study:

· An in-depth study of the evolving market sectors and the growth & penetration status of the global Virtual Reality market

· COVID-19 Impact Analysis to highlight the major opportunities and challenges

· Strategic recommendations to help readers formulate lucrative business strategies

· Identification of the emerging players and their tactical approaches to expand market presence

· An extensive study of the product portfolios of the major market players and their regional presence

· A closer look at the strategic initiatives undertaken by the leading companies across this industry, including mergers & acquisitions, collaborations, partnerships, and joint ventures

Table of Content:

Chapter 1. Methodology & Sources 1.1. Market Definition 1.2. Research Scope 1.3. Methodology 1.4. Research Sources 1.4.1. Primary 1.4.2. Secondary 1.4.3. Paid Sources 1.5. Market Estimation Technique Chapter 2. Executive Summary 2.1. Summary Snapshot, 2020-2028 Chapter 3. Key Insights Chapter 4. Virtual Reality Market Segmentation & Impact Analysis 4.1. Virtual Reality Market Material Segmentation Analysis 4.2. Industrial Outlook 4.2.1. Market indicators analysis 4.2.2. Market drivers analysis 4.2.2.1. Advancement of technology and growing digitization 4.2.2.2. Growing adoption of HMDs in different industries 4.2.2.3. Penetration of HMDs in the gaming and entertainment sector post COVID-19 4.2.3. Market restraints analysis 4.2.3.1. Display latency and energy consumption affect overall performance of VR devices 4.3. Technological Insights 4.4. Regulatory Framework 4.5. Porter’s Five Forces Analysis 4.6. Competitive Metric Space Analysis 4.7. Price trend Analysis 4.8. Covid-19 Impact Analysis

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