Virtual Reality Market The Virtual Realitym
Virtual Reality Market
The Virtual Reality Market was valued more than USD 6400 million in 2019 and is projected to grow at a robust CAGR of 23.22% during the forecast period (2020-2027).
The factors driving the growth of Virtual Reality Market includes increasing application of Virtual Reality in the end-use industries such as Healthcare, automotive, Defense and Education, easy accessibility to Virtual Reality devices and rising number of virtual events. According to the report published by Bloomberg, the Gaming Industry is anticipated to reach USD $435 billion by the end of 2028, growing at a robust CAGR of 12.1% during the forecast period (2022-2028), which is expected to boost the Global Virtual Reality Market. Moreover, the growing demand for HMDs (Head-mounted display) devices, rising adoption of virtual meets and video conferences, increasing internet penetration and technological innovations in 5G Technology, are some of the additional factors supplementing the Virtual Reality Market Growth. As per Statista, the total shipments of reality (VR) head mounted display (HMD) devices are anticipated to reach around 59.7 million units by the end of 2025, which will boost the Virtual Reality Market size in the approaching years.
However, the Virtual reality systems in gaming industry, cannot be operated for a long duration, which might hamper the growth of Virtual Reality Market.
The prominent players operating in the market are Microsoft Corporation, HTC Corporation, Facebook Technologies, LLC, Sony Corporation, Samsung Electronics Co., Ltd., Alphabet Inc., CyberGlove Systems Inc., Leap Motion, Eon Reality and Vuzix Corporation among others.
Technology: Segment Analysis
As per the Virtual Reality Market Forecast, fully immersive technology is projected to capture the largest market share over the forecast period attributed to growing adoption of HMDs (Head-mounted display) devices in the Gaming industry.
Offering: Segment Analysis
According to Virtual Reality Market Report, the hardware segment is projected to expand at a significant CAGR during the forecast period. The growing demand for smartphones capable of measuring and mapping out the environment and rising adoption of sophisticated sensors, are some of the factors responsible for the growth of the segment.
Regional: Segment Analysis
As per Virtual Reality Market Analysis, North American region is anticipated to capture the highest market share during the forecast period due to the presence of the leading game developers such as Ubisoft, Gameloft and Activision, strong internet penetration, growing demand for virtual reality in the Museums and Music concerts and high disposable incomes, are some of the important factors influencing the market growth in North America.
Market Segmentation
Global Virtual Reality Market by Technology
- Non-immersive Technology
- Semi-Immersive and Fully Immersive Technology
Global Virtual Reality Market by Offering
- Hardware
- Sensors
- Semiconductor Components
- Displays and Projectors
- Position Trackers
- Cameras
- Others
- Software
- VR Content Creation
Global Virtual Reality Market by Device Type
- Head-Mounted Displays
- Gesture-Tracking Devices
- Projectors & Display Walls
Global Virtual Reality Market by Application
- Consumer
- Gaming and Entertainment
- Sports
- Commercial
- Retail & Ecommerce
- Education and training
- Travel and tourism
- Advertising
- Enterprise
- Healthcare
- Aerospace & Defence
- Others
Global Virtual Reality Market by Region
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- North America
- United States of America
- Canada
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
About GMI Research
GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.
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