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. Increasing deployment of 5G networks is also propelling growth of the virtual reality market. 5G services provide ultra-low and high-bandwidth latency. This will help support the adoption of virtual reality in various applications such as training, entertainment, and simulation, among others. The upsurge in demand for head-mounted displays in the gaming industry is also driving growth of the market. The gaming and entertainment industry has been witnessing a rapid technological revolution with the emergence of 3D and VR technology. Video game users prefer head-mounted displays to enrich user experience and entertainment, and this is expected to continue over the forecast period.

Major players in the market are investing into research & development of this technology and introducing more advanced  products in the market, which is boosting growth of the market to a significant extent. In February 2021 for instance, virtual reality experience and event platform, Touchcast Inc. – led by Accenture and other companies – announced raising of USD 55 Million in early funding to scale up the company’s virtual event platform.

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Some Key Highlights From the Report

  • Gesture tracking devices provide real-time data to computers to fulfil the user’s commands. Gesture recognition also offers better ergonomics for consumer devices. Motion sensors can track and interpret gestures, and use them as a primary source of data input. Moreover, rise in use of biometric systems in various fields of people’s lives, from home and cars, to shops, is also driving demand for these devices.
  • 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.
  • Key players in the market include Microsoft, Samsung Electronics, Google, Eon Reality, Sony, Mindmaze, Panasonic Corporation, HTC, Firsthand Technology, and Cyberglove Systems.

Virtual Reality Market Segmentation:

Emergen Research has segmented the global virtual reality market on the basis of offering, technology, device type, application, and region:

  • Offering Outlook (Revenue, USD Billion; 2018–2028)
    • Hardware
      1. Displays and Projectors
      2. Sensors
      3. Cameras
      4. Position Trackers
      5. Semiconductor Components
      6. Others (Computer/video generator and combiner)
    • Software
      1. Cloud-Based Services
      2. Software Development Kits
      3. VR Content Creation
    • Technology Outlook (Revenue, USD Billion; 2018–2028)
      • Non-immersive
      • Semi and Fully Immersive
    • Device Type Outlook (Revenue, USD Billion; 2018–2028)
      • Head-Mounted Displays
      • Projectors and Display Walls
      • Gesture-Tracking Devices
    • Application Outlook (Revenue, USD Billion; 2018–2028)
      • Consumer
        1. Gaming and Entertainment
        2. Sports
      • Commercial
        1. Education and Training
        2. Retail and Ecommerce
        3. Advertising
        4. Travel and Tourism
      • Enterprise
      • Healthcare
        1. Patient Care Management
        2. Surgery
        3. Pharmacy Management
        4. Fitness Management
        5. Medical Training and Education
      • Aerospace & Defense
      • Others
        1. Automotive
        2. Geospatial Mining
        3. Real Estate (Architecture and Building Design)

Regions Covered in This Report:

  1. North America(U.S., Mexico, and Canada)
  2. Asia Pacific(China, Japan, India, and Rest of Asia Pacific)
  3. Europe(U.K., Germany, France, and Rest of Europe)
  4. Latin America(Brazil and Rest of Latin America)
  5. Middle East & Africa(GCC Countries and Rest of Middle East & Africa)

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Target Audience of the Global Virtual Reality Market report:

  • Global Virtual Reality providers, distributors, traders, and suppliers
  • End-use industries
  • Research organizations, consulting companies, and various alliances interested in this particular business sphere.
  • Government bodies, independent regulatory authorities, and policymakers.

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

READ MORE…!

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