The global Virtual Reality (VR) market is growing at a considerable CAGR of around 18.0% during the forecast period. VR technology is used for consumer applications such as gaming and entertainment the games sector is projected to be the fastest-growing segment after the advertisement in the media and entertainment industry across the globe. The factors that drive the growth of the market include increasing demand for VR technology in interactive video games, and movies, and television series. VR is used in various gaming types such as internet games, PC gaming, gaming consoles, and smartphones, and tablets would impel the VR market for the consumer application.
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Additionally, the use of VR in training, and education, defense, and healthcare industries will drive the growth of the market. Moreover, the investments by the key players are creating developments in the field of display technology, which is also going to transform the vision of the traditional methodology. For instance, in May 2020 Apple Inc. acquired NextVR, a startup company that offers sports and other content for virtual-reality headsets. The acquirement may aid Apple’s development of VR and AR headsets with associated software and content. NextVR supplies content to several existing VR headsets, including Facebook Inc.’s Oculus and devices from Sony Corp., HTC Corp., and Lenovo.
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- Market Coverage
- Market number available for – 2022-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Market Segmentation
Global VR Market by Components
- Hardware
- Projector
- Sensor
- Software
Global VR Market by Systems
- Non-immersive VR
- Semi-immersive VR
- Fully immersive VR
Global VR Market by Application
- Entertainment
- Gaming
- Tourism
- Automotive
- Training and Education
- Defense
- Healthcare
Global VR Market by Device
- Head-Mounted Display (HMD)
- Gesture-Tracking Device (GTD)
- Projectors & Display Wall (PDW)
Regional Analysis
- North America
- United States
- Canada
- Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- Rest of the World
Company Profiles
- Advanced Micro Devices, Inc.
- Apple Inc.
- Atheer labs
- Baofengmojing
- Carl Zeiss AG
- Facebook Technologies, LLC.
- Firsthand Technology Inc.
- Google LLC
- HTC Corp.
- Magic Leap, Inc.
- Matterport, Inc.
- Mechdyne corp.
- Microsoft Corp.
- Niantic, Inc
- Nvidia corp.
- Samsung Electronics Co. Ltd.
- Sony Corp.
- Surreal VR
- Unity technologies
- Wevr
- WorldViz, Inc.
The Report Covers
- Market value data analysis of 2020 and forecast to 2027.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global VR market Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where in the market.
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