Virtual Reality Market

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.

The report contains data validated by the industry experts and contains a thorough analysis of the market drivers and opportunities that will contribute to market growth. The report also utilizes advanced analytical tools such as SWOT analysis and Porter’s Five Forces analysis to offer a better understanding of the competitive landscape and overall Virtual Reality industry. It also covers the strategic initiatives undertaken by the key companies to offer the readers opportunities to capitalize on emerging growth opportunities.

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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.
  • 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.
  • 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.
  • 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)

Regional Segmentation of the Market:

  • 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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Major Objectives of the Study:

  • To offer a comprehensive analysis of the market scenario to derive an accurate forecast of the market and its major segments
  • Accurate insights into the future growth prospects of the market through an analysis of the influencing factors
  • Analysis of vital aspects of the market including cost analysis, supply chain analysis, Porter’s Five Forces analysis, SWOT analysis, and investment return analysis
  • Extensive historical and forecast estimation of the market revenue based on its key segments and key regions
  • Comprehensive analysis of the competitive landscape of the market along with exhaustive profiling of the key competitors, product portfolio, and manufacturing and production capabilities

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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Tags: Virtual Reality Market Share, Virtual Reality Market Size, Virtual Reality Market research, Virtual Reality Market Trends, Virtual Reality Industry Statistics, Virtual Reality Industry Growth, Virtual Reality Industry Analysis

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Eric Lee

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Emergen Research | Web: www.emergenresearch.com

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Contact Information:

Contact Us:

Eric Lee

Corporate Sales Specialist

Emergen Research | Web: www.emergenresearch.com

Direct Line: +1 (604) 757-9756

E-mail: [email protected]

Facebook | LinkdIn | Twitter | Blogs