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Virtual Reality Market By Component (Hardware and Software), By Device Type (Head Mounted Display, VR Simulator, VR Glasses, Treadmills & Haptic Gloves, and Others), By Industry (Gaming, Entertainment, Automotive, Retail, Healthcare, Education, Aerospace & Defense, Manufacturing, and Others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2020 – 2028

Published Date: 20-Apr-2021 Category: Technology & Media Report Format : PDF Pages: 110 Report Code: ZMR-2031 Status : Published

The global virtual reality market accounted for USD 10.85 Billion in 2020 and is expected to reach USD 52.03 Billion by 2028, growing at a CAGR of 21.9% from 2021 to 2028.

Description

Market Overview

The global virtual reality market accounted for USD 10.85 Billion in 2020 and is expected to reach USD 52.03 Billion by 2028, growing at a CAGR of 21.9% from 2021 to 2028.

Virtual reality means a computer generated simulation through which the user can interact within an artificial 3D environment with the help of devices such as gloves with sensor or goggles with a screen. Increase in application of VR in various industries is driving the market growth. The implementation of VR helps reducing hefty costs.

COVID-19 Impact Analysis

The outbreak of COVID-19 positively impacted the global virtual reality market. Lockdown significantly increased the demand for VR technology. Nowadays, conferences, gatherings, exhibitions, virtual meets are driving the growth for VR market. Furthermore, the pandemic is expected to grow the demand for VR devices and likely to stream the growth of VR market.

Virtual Reality Market

Growth Factors

5G Network and its implementation all over the world is driving the virtual technology. This is majorly complementing the adoption for VR technology. Sectors such as education, healthcare, automotive, and many more are investing in virtual trainings and solutions. For instance, educational sector is completely dependent upon the virtual sessions. Convocations and celebrations are happening virtually.

Gaming industry has evolved completely after the introduction of 3D technology and VR. The use of Head Mounted Display (HMDs) helped bring in an enhanced and unique experience to the users. Video gamers generally prefer HMDs for better gaming experience.

Report Scope

Component Segment Analysis Preview

Hardware segment held a share of over 60% in 2020. Increasing use of hardware devices such as mobile phones, speakers, semiconductors, sensors, displays, and many more are boosting the numbers. Increasing applications like entertainment, gaming, live events and more are enhancing the software demand.

Device Type Segment Analysis Preview

VR Glasses segment is projected to grow at a CAGR of around 24% from 2021 to 2028. VR headsets or glasses block the light and distraction to enhance user experience. It makes users feel like they are actually present in a theatre. Gaming and entertainment industry are the most lucrative ones. HMDs, VR simulators, treadmills, and others form the device type segment.

Industry Segment Analysis Preview

Use of VR in defense and aerospace is growing unexpectedly. It helps military to visualize and practicing combat tactics and in a safe manner. Armed forces across the world are investing in VR Technologies as VR can be used in virtual medical treatment, platform design, recruitment, and many other applications. It helps reducing costs and more importantly the risk of life. Gaming, entertainment, automotive, retail, healthcare, education, manufacturing, and others form the industry type segment.

Regional Analysis Preview

North America accounted for a share of 34% in 2020. The rising growth of healthcare and educational sectors are the key drivers. Consumer application sector is also estimated to grow fast in the region. Government in the region is also heavily investing in VR technology to boost the market.

Asia Pacific is projected to grow at a CAGR of over 22% during the forecast period. China is one of the major distributors in HMDs. China and India is likely to witness significant growth due to government funding. Campaigns like Make in India, and others are encouraging the small and medium enterprises to invest and develop their business in India.

Key Market Players & Competitive Landscape

Some of key players in virtual reality market are HTC Corporation, Microsoft, Barco, CyberGlove Systems, Inc., Facebook Technologies, LLC, Samsung Electronics Co., Ltd., Sixense Enterprises, Inc., Sensics, Inc., Sony, Eon Reality, Leap Motion, and Oculus, among others.

Companies are focusing on developing new products and developing strategic partnerships to enhance their market share. For instance, in 2019 December, Oculus introduced hand tracking feature. In 2020, March Microsoft came into partnership with Valve and HP to launch a more comfortable and immersive experience in VR.

The global virtual reality market is segmented as follows:

By Component

  • Hardware
  • Software

By Device Type

  • HMDs
  • VR Simulators
  • VR Glasses
  • Haptic Gloves
  • Treadmills
  • Others

By Industry Type

  • Gaming
  • Entertainment
  • Automotive
  • Education
  • Manufacturing
  • Retail
  • Healthcare
  • Aerospace & Defense
  • Others

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

Table Of Content

  • Chapter No. 1 Introduction
    • 1.1. Report Description
      • 1.1.1. Purpose of the Report
      • 1.1.2. USP & Key Offerings
    • 1.2. Key Benefits for Stakehulders
    • 1.3. Target Audience
    • 1.4. Report Scope
  • Chapter No. 2 Executive Summary
    • 2.1. Key Findings
      • 2.1.1. Top Investment Pockets
        • 2.1.1.1. Market Attractiveness Analysis, By Component
        • 2.1.1.2. Market Attractiveness Analysis, By Device Type
        • 2.1.1.3. Market Attractiveness Analysis, By Industry
        • 2.1.1.4. Market Attractiveness Analysis, By Region
    • 2.2. Market Snapshot
    • 2.3. Global Virtual Reality Market, 2016 – 2028 (USD Million)
    • 2.4. Insights from Primary Respondents
  • Chapter No. 3 COVID 19 Impact Analysis
    • 3.1. Impact Assessment of COVID-19 Pandemic, By Region
      • 3.1.1. North America
      • 3.1.2. Europe
      • 3.1.3. Asia Pacific
      • 3.1.4. Latin America
      • 3.1.5. The Middle-East and Africa
    • 3.2. Quarterly Market Revenue and Forecast by Region 2020 & 2021
    • 3.3. Pre COVID-19 Market Revenue, By Region, 2016-2019 (USD Million)
    • 3.4. Post COVID-19 Market Revenue, By Region, 2020-2028 (USD Million)
    • 3.5. Key Strategies Undertaken by Companies to Tackle COVID-19
      • 3.5.1. Company Quarterly Revenue Analysis, 2019 & 2020
    • 3.6. Short Term Dynamics
    • 3.7. Long Term Dynamics
  • Chapter No. 4 Virtual Reality Market – Component Segment Analysis
    • 4.1. Overview
      • 4.1.1. Market Revenue Share, By Component, 2020 & 2028
    • 4.2. Hardware
      • 4.2.1. Market Size and Forecast, By Region (USD Million)
      • 4.2.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.2.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.3. Software
      • 4.3.1. Market Size and Forecast, By Region (USD Million)
      • 4.3.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.3.3. Key Market Trends, Growth Factors, & Opportunities
  • Chapter No. 5 Virtual Reality Market – Device Type Segment Analysis
    • 5.1. Overview
      • 5.1.1. Market Revenue Share, By Device Type, 2020 & 2028
    • 5.2. High Mounted Display
      • 5.2.1. Market Size and Forecast, By Region (USD Million)
      • 5.2.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 5.2.3. Key Market Trends, Growth Factors, & Opportunities
    • 5.3. VR Simulators
      • 5.3.1. Market Size and Forecast, By Region (USD Million)
      • 5.3.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 5.3.3. Key Market Trends, Growth Factors, & Opportunities
    • 5.4. VR Glasses
      • 5.4.1. Market Size and Forecast, By Region (USD Million)
      • 5.4.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 5.4.3. Key Market Trends, Growth Factors, & Opportunities
    • 5.5. Haptic gloves
      • 5.5.1. Market Size and Forecast, By Region (USD Million)
      • 5.5.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 5.5.3. Key Market Trends, Growth Factors, & Opportunities
    • 5.6. Treadmills
      • 5.6.1. Market Size and Forecast, By Region (USD Million)
      • 5.6.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 5.6.3. Key Market Trends, Growth Factors, & Opportunities
    • 5.7. Others
      • 5.7.1. Market Size and Forecast, By Region (USD Million)
      • 5.7.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 5.7.3. Key Market Trends, Growth Factors, & Opportunities
  • Chapter No. 6 Virtual Reality Market – Industry Segment Analysis
    • 6.1. Overview
      • 6.1.1. Market Revenue Share, By Industry, 2020 & 2028
    • 6.2. Gaming
      • 6.2.1. Market Size and Forecast, By Region (USD Million)
      • 6.2.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 6.2.3. Key Market Trends, Growth Factors, & Opportunities
    • 6.3. Entertainment
      • 6.3.1. Market Size and Forecast, By Region (USD Million)
      • 6.3.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 6.3.3. Key Market Trends, Growth Factors, & Opportunities
    • 6.4. Automotive
      • 6.4.1. Market Size and Forecast, By Region (USD Million)
      • 6.4.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 6.4.3. Key Market Trends, Growth Factors, & Opportunities
    • 6.5. Retail
      • 6.5.1. Market Size and Forecast, By Region (USD Million)
      • 6.5.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 6.5.3. Key Market Trends, Growth Factors, & Opportunities
    • 6.6. Healthcare
      • 6.6.1. Market Size and Forecast, By Region (USD Million)
      • 6.6.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 6.6.3. Key Market Trends, Growth Factors, & Opportunities
    • 6.7. Education
      • 6.7.1. Market Size and Forecast, By Region (USD Million)
      • 6.7.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 6.7.3. Key Market Trends, Growth Factors, & Opportunities
    • 6.8. Aerospace & Defense
      • 6.8.1. Market Size and Forecast, By Region (USD Million)
      • 6.8.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 6.8.3. Key Market Trends, Growth Factors, & Opportunities
    • 6.9. Manufacturing
      • 6.9.1. Market Size and Forecast, By Region (USD Million)
      • 6.9.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 6.9.3. Key Market Trends, Growth Factors, & Opportunities
    • 6.10. Others
      • 6.10.1. Market Size and Forecast, By Region (USD Million)
      • 6.10.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 6.10.3. Key Market Trends, Growth Factors, & Opportunities
  • Chapter No. 7 Virtual Reality Market – Regional Analysis
    • 7.1. Overview
      • 7.1.1. Global Market Revenue Share, By Region, 2020 & 2028
      • 7.1.2. Global Market Revenue, By Region, 2016 – 2028 (USD Million)
    • 7.2. North America
      • 7.2.1. North America Market Revenue, By Country, 2016 – 2028 (USD Million)
      • 7.2.2. North America Market Revenue, By Component, 2016 – 2028
      • 7.2.3. North America Market Revenue, By Device Type, 2016 – 2028
      • 7.2.4. North America Market Revenue, By Industry, 2016 – 2028
      • 7.2.5. U.S.
        • 7.2.5.1. U.S. Market Revenue, By Component, 2016 – 2028
        • 7.2.5.2. U.S. Market Revenue, By Device Type, 2016 – 2028
        • 7.2.5.3. U.S. Market Revenue, By Industry, 2016 – 2028
      • 7.2.6. Canada
        • 7.2.6.1. Canada Market Revenue, By Component, 2016 – 2028
        • 7.2.6.2. Canada Market Revenue, By Device Type, 2016 – 2028
        • 7.2.6.3. Canada Market Revenue, By Industry, 2016 – 2028
      • 7.2.7. Mexico
        • 7.2.7.1. Mexico Market Revenue, By Component, 2016 – 2028
        • 7.2.7.2. Mexico Market Revenue, By Device Type, 2016 – 2028
        • 7.2.7.3. Mexico Market Revenue, By Industry, 2016 – 2028
    • 7.3. Europe
      • 7.3.1. Europe Market Revenue, By Country, 2016 – 2028 (USD Million)
      • 7.3.2. Europe Market Revenue, By Component, 2016 – 2028
      • 7.3.3. Europe Market Revenue, By Device Type, 2016 – 2028
      • 7.3.4. Europe Market Revenue, By Industry, 2016 – 2028
      • 7.3.5. Germany
        • 7.3.5.1. Germany Market Revenue, By Component, 2016 – 2028
        • 7.3.5.2. Germany Market Revenue, By Device Type, 2016 – 2028
        • 7.3.5.3. Germany Market Revenue, By Industry, 2016 – 2028
      • 7.3.6. France
        • 7.3.6.1. France Market Revenue, By Component, 2016 – 2028
        • 7.3.6.2. France Market Revenue, By Device Type, 2016 – 2028
        • 7.3.6.3. France Market Revenue, By Industry, 2016 – 2028
      • 7.3.7. U.K.
        • 7.3.7.1. U.K. Market Revenue, By Component, 2016 – 2028
        • 7.3.7.2. U.K. Market Revenue, By Device Type, 2016 – 2028
        • 7.3.7.3. U.K. Market Revenue, By Industry, 2016 – 2028
      • 7.3.8. Italy
        • 7.3.8.1. Italy Market Revenue, By Component, 2016 – 2028
        • 7.3.8.2. Italy Market Revenue, By Device Type, 2016 – 2028
        • 7.3.8.3. Italy Market Revenue, By Industry, 2016 – 2028
      • 7.3.9. Spain
        • 7.3.9.1. Spain Market Revenue, By Component, 2016 – 2028
        • 7.3.9.2. Spain Market Revenue, By Device Type, 2016 – 2028
        • 7.3.9.3. Spain Market Revenue, By Industry, 2016 – 2028
      • 7.3.10. Rest of Europe
        • 7.3.10.1. Rest of Europe Market Revenue, By Component, 2016 – 2028
        • 7.3.10.2. Rest of Europe Market Revenue, By Device Type, 2016 – 2028
        • 7.3.10.3. Rest of Europe Market Revenue, By Industry, 2016 – 2028
    • 7.4. Asia Pacific
      • 7.4.1. Asia Pacific Market Revenue, By Country, 2016 – 2028 (USD Million)
      • 7.4.2. Asia Pacific Market Revenue, By Component, 2016 – 2028
      • 7.4.3. Asia Pacific Market Revenue, By Device Type, 2016 – 2028
      • 7.4.4. Asia Pacific Market Revenue, By Industry, 2016 – 2028
      • 7.4.5. China
        • 7.4.5.1. China Market Revenue, By Component, 2016 – 2028
        • 7.4.5.2. China Market Revenue, By Device Type, 2016 – 2028
        • 7.4.5.3. China Market Revenue, By Industry, 2016 – 2028
      • 7.4.6. Japan
        • 7.4.6.1. Japan Market Revenue, By Component, 2016 – 2028
        • 7.4.6.2. Japan Market Revenue, By Device Type, 2016 – 2028
        • 7.4.6.3. Japan Market Revenue, By Industry, 2016 – 2028
      • 7.4.7. India
        • 7.4.7.1. India Market Revenue, By Component, 2016 – 2028
        • 7.4.7.2. India Market Revenue, By Device Type, 2016 – 2028
        • 7.4.7.3. India Market Revenue, By Industry, 2016 – 2028
      • 7.4.8. South Korea
        • 7.4.8.1. South Korea Market Revenue, By Component, 2016 – 2028
        • 7.4.8.2. South Korea Market Revenue, By Device Type, 2016 – 2028
        • 7.4.8.3. South Korea Market Revenue, By Industry, 2016 – 2028
      • 7.4.9. South-East Asia
        • 7.4.9.1. South-East Asia Market Revenue, By Component, 2016 – 2028
        • 7.4.9.2. South-East Asia Market Revenue, By Device Type, 2016 – 2028
        • 7.4.9.3. South-East Asia Market Revenue, By Industry, 2016 – 2028
      • 7.4.10. Rest of Asia Pacific
        • 7.4.10.1. Rest of Asia Pacific Market Revenue, By Component, 2016 – 2028
        • 7.4.10.2. Rest of Asia Pacific Market Revenue, By Device Type, 2016 – 2028
        • 7.4.10.3. Rest of Asia Pacific Market Revenue, By Industry, 2016 – 2028
    • 7.5. Latin America
      • 7.5.1. Latin America Market Revenue, By Country, 2016 – 2028 (USD Million)
      • 7.5.2. Latin America Market Revenue, By Component, 2016 – 2028
      • 7.5.3. Latin America Market Revenue, By Device Type, 2016 – 2028
      • 7.5.4. Latin America Market Revenue, By Industry, 2016 – 2028
      • 7.5.5. Brazil
        • 7.5.5.1. Brazil Market Revenue, By Component, 2016 – 2028
        • 7.5.5.2. Brazil Market Revenue, By Device Type, 2016 – 2028
        • 7.5.5.3. Brazil Market Revenue, By Industry, 2016 – 2028
      • 7.5.6. Argentina
        • 7.5.6.1. Argentina Market Revenue, By Component, 2016 – 2028
        • 7.5.6.2. Argentina Market Revenue, By Device Type, 2016 – 2028
        • 7.5.6.3. Argentina Market Revenue, By Industry, 2016 – 2028
      • 7.5.7. Rest of Latin America
        • 7.5.7.1. Rest of Latin America Market Revenue, By Component, 2016 – 2028
        • 7.5.7.2. Rest of Latin America Market Revenue, By Device Type, 2016 – 2028
        • 7.5.7.3. Rest of Latin America Market Revenue, By Industry, 2016 – 2028
    • 7.6. The Middle-East and Africa
      • 7.6.1. The Middle-East and Africa Market Revenue, By Country, 2016 – 2028 (USD Million)
      • 7.6.2. The Middle-East and Africa Market Revenue, By Component, 2016 – 2028
      • 7.6.3. The Middle-East and Africa Market Revenue, By Device Type, 2016 – 2028
      • 7.6.4. The Middle-East and Africa Market Revenue, By Industry, 2016 – 2028
      • 7.6.5. GCC Countries
        • 7.6.5.1. GCC Countries Market Revenue, By Component, 2016 – 2028
        • 7.6.5.2. GCC Countries Market Revenue, By Device Type, 2016 – 2028
        • 7.6.5.3. GCC Countries Market Revenue, By Industry, 2016 – 2028
      • 7.6.6. South Africa
        • 7.6.6.1. South Africa Market Revenue, By Component, 2016 – 2028
        • 7.6.6.2. South Africa Market Revenue, By Device Type, 2016 – 2028
        • 7.6.6.3. South Africa Market Revenue, By Industry, 2016 – 2028
      • 7.6.7. Rest of Middle-East Africa
        • 7.6.7.1. Rest of Middle-East Africa Market Revenue, By Component, 2016 – 2028
        • 7.6.7.2. Rest of Middle-East Africa Market Revenue, By Device Type, 2016 – 2028
        • 7.6.7.3. Rest of Middle-East Africa Market Revenue, By Industry, 2016 – 2028
  • Chapter No. 8 Virtual Reality Market – Industry Analysis
    • 8.1. Introduction
    • 8.2. Market Drivers
    • 8.3. Market Restraints
    • 8.4. Market Opportunities
    • 8.5. Porter’s Five Forces Analysis
    • 8.6. PEST Analysis
    • 8.7. Regulatory Landscape
    • 8.8. Technulogy Landscape
    • 8.9. Regional Market Trends
      • 8.9.1. North America
      • 8.9.2. Europe
      • 8.9.3. Asia Pacific
      • 8.9.4. Latin America
      • 8.9.5. The Middle-East and Africa
    • 8.10. Pricing Analysis
    • 8.11. Value Chain Analysis
    • 8.12. Downstream Buyers
    • 8.13. Distributors/Traders List
  • Chapter No. 9 Competitive Landscape
    • 9.1. Company Market Share Analysis – 2019
      • 9.1.1. Global Virtual Reality Market: Company Market Share, 2019
      • 9.1.2. Global Virtual Reality Market, Company Market Revenue, 2016 – 2019 (USD Million)
      • 9.1.3. Global Virtual Reality Market, Company Y-o-Y Growth, 2017 – 2019 (%)
      • 9.1.4. Global Virtual Reality Market: Radar Determinant Chart, 2019
    • 9.2. Strategic Developments
      • 9.2.1. Acquisitions & Mergers
      • 9.2.2. New Product Launch
      • 9.2.3. Regional Expansion
    • 9.3. Company Strategic Developments – Heat Map Analysis
  • Chapter No. 10 Company Profiles
    • 10.1. HTC corporation
    • 10.2. Microsoft
    • 10.3. Barco
    • 10.4. CyberGlove Systems, Inc.
    • 10.5. Facebook Technulogies, LLC
    • 10.6. Samsung Electronics Co., Ltd.
    • 10.7. Sixense Enterprises, Inc.
    • 10.8. Sensics, Inc.
    • 10.9. Sony
    • 10.10. Eon Reality
    • 10.11. Leap Motion
    • 10.12. Oculus
  • Chapter No. 11 Marketing Strategy Analysis
    • 11.1. Marketing Channel
    • 11.2. Direct Marketing
    • 11.3. Indirect Marketing
    • 11.4. Marketing Channel Development Trends
    • 11.5. Economic/Pulitical Environmental Change
  • Chapter No. 12 Research Methodulogy
    • 12.1. Research Methodulogy
    • 12.2. Phase I - Secondary Research
    • 12.3. Phase II - Data Modeling
      • 12.3.1. Company Share Analysis Model
      • 12.3.2. Revenue Based Modeling
    • 12.4. Phase III - Primary Research
    • 12.5. Research Limitations
      • 12.5.1. Assumptions

Methodology

This report is based on in-depth qualitative and quantitative analyses of the global Virtual reality market. Zion Research has collected and analyzed key data belong to the global Virtual reality market using a variety of methods. Quantitative analysis has been done following various projection and sampling techniques.

The qualitative analysis involved primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes were validated through experts' opinions. The market dynamics have been determined after conducting a detailed study of the micro and macroeconomic indicators of the market.

Various parameters have been taken into account, while estimating market size. The revenue generated by the leading industry participants in from the sales of Virtual reality across the world has been calculated through primary and secondary research.

Zion Research employs the combination of secondary research followed by extensive primary research. Under secondary research, we refer to prominent paid as well as open access data sources including product literature, company annual reports, government publications, press releases, industry association’s magazines and other relevant sources for data collection. Other prominent secondary sources include STATISTA, trade journals, trade associations, statistical data from government websites, etc. 

For this study, Zion Research has conducted all-encompassing primary research with key industry participants to collect first had data. Moreover, in-depth interviews with key opinion leaders also assisted in validation of findings from secondary research and to understand key trends in the Virtual reality industry. Primary research makes up the major source of data collection and validation.   

Primary Research

We conduct primary interviews with industry participants and commentators on an ongoing basis to validate data and analysis. A typical research interview fulfills the following functions:

  • Provides firsthand information on market size, market trends, growth trends, competitive landscape, outlook, etc.
  • Helps in validating and strengthening the secondary research findings
  • Further, develops the analysis team’s expertise and market understanding
  • Primary research involves e-mail interactions, telephonic interviews as well as face-to-face interviews for each market, category, segment and sub-segment across geographies

Participants who typically participate in such a process include, but are not limited to:

  • Industry participants: CEOs, VPs, marketing/product managers, market intelligence managers and national sales managers
  • Purchasing managers, technical personnel, distributors and resellers
  • Outside experts: Investment bankers, valuation experts and research analysts specializing in specific markets

Key opinion leaders specializing in different areas corresponding to different industry verticals

Secondary Research

Secondary research sources that are typically referred to include, but are not limited to:

  • Company websites, annual reports, financial reports, broker reports, investor presentations and SEC filings
  • IDC and other relevant magazines
  • Internal and external proprietary databases, and relevant patent and regulatory databases
  • National government documents, statistical databases and market reports

News articles, press releases and webcasts specific to companies operating in the market

Following a comprehensive secondary and primary research and insights thus gathered, analysts at Zion Research have provided an in-depth analysis of various aspects of the Virtual reality market.

Models

Where no hard data is available, we use models and estimates to produce comprehensive data sets. A rigorous methodology is adopted, wherein the available hard data is cross-referenced with the following data types to produce estimates:

  • Demographic data: Population split by segments
  • Macroeconomic indicators: GDP, PPP, Per Capita Income, etc.
  • Industry indicators: Expenditure, technology stage and infrastructure, sector growth and facilities
  • Data is then cross-checked by an expert panel.

Free Analysis

Virtual reality (VR) creates an artificial environment in the world. Virtual reality is used to mention 3-dimensional computers, generated environment which can be explored and interacted with by a person.  Virtual reality is a computer technology which uses virtual reality headsets sometimes in combination with physical spaces and multi-projected environments, for generating realistic images, sounds and other sensations that create a user's physical presence in a virtual or imaginary environment.

Increasing mobile phones, tablets, and smartphones with built in VR functionalities that have become an important tool in the workplace to enhance smooth business workflows and operations. Additionally, rising technology penetration across the many industries such as retail, healthcare, e-commerce and automotive is anticipated to drive the virtual reality market growth during the forecasted period. There is a limited user interface (UI) with virtual reality applications which are affecting the growth of the VR market. However, raising the investment by global players in the virtual reality applications is expected to grow the market during the upcoming time.

The global Virtual reality (VR) market segmented on the basis of technology, offering, device type, application, and regions. The technology segment includes non-immersive and semi-immersive & fully immersive. Hardware, software, and semiconductor component segment cover under offering segment. Hardware segment further divided into sub segment i.e. sensors, cameras and others. Sub segment of software includes software development kits and cloud-based services.

Device type segment divides into the head-mounted display, gesture control devices, and projectors and displays walls. It is expected the head-mounted displays will hold a major share during upcoming due to head-mounted displays are the most promising devices to boost the growth of the virtual reality market. This also referred to sometimes as virtual reality headsets or VR glasses. HMD also use one of the several techniques to transfer images to the brain. Consumer, commercial, enterprise, medical, aerospace, and defense, automotive, energy and others applications come under application segment. The regional segmentation includes the current and forecast demand for North America, Europe, Asia Pacific, Latin America and the Middle East and Africa with its further bifurcation into major countries including U.S. Germany, France, UK, China, Japan, India, and Brazil. APAC region is anticipated to lead the virtual reality (VR) market in terms of revenue and is likely to witness the highest growth rate in the market by 2022. This is due to; increase in research and development centers in APAC and the growing acceptance of newer technologies in the countries such as China, India, and Japan are the drivers for the AR market in APAC region.

The report covers detailed competitive outlook including company profiles of the key participants operating in the global VR market. Key players profiled in the report include Oculus VR, LLC, Sony Corporation, HTC Corporation, Samsung Electronics Co., Ltd., EON Reality Inc., Google Inc., Microsoft Corporation, Vuzix Corporation, CyberGlove Systems Inc, Sensics, Inc., Leap Motion Inc., Marxent Labs LLC, WorldViz, Jaunt, Inc., Nokia, Cyberith GmbH, Virtalis Limited, and Sixense Entertainment, Inc among others.

 


Frequently Asked Questions

The global virtual reality market was valued at USD 10.85 Billion in 2020.

The global virtual reality market is expected to reach USD 52.03 Billion by 2028, growing at a CAGR of 21.9% between 2021 to 2028.

Some of the key factors driving the global virtual reality market growth are enhanced experience in gaming and entertainment industry, 5G connectivity all over the world, use of VR in defense and aerospace are some of the major growth drivers.

North America region held a substantial share of the virtual reality market in 2020.Government in the region is heavily investing in the technology. Asia Pacific region is projected to grow at a significant rate owing to the rising demand for virtual reality in developing economies such as China and India.

Some of key players in virtual reality market are HTC Corporation, Microsoft, Barco, CyberGlove Systems, Inc., Facebook Technologies, LLC, Samsung Electronics Co., Ltd, Sixense Enterprises, Inc., Sensics, Inc., Sony, Eon Reality, Leap Motion, and Oculus, among others.

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