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- Virtual Reality Market – Size, Outlook, Trends and Forecast (2024 – 2032)
Virtual reality (VR) is an artificially generated real-time scenario of an image, object or location that simulates the experience. Current VR technology mostly utilises headsets & other wearable devices, and other electronics systems that simulate the user’s physical presence in a virtual or imaginary environment. Consumer virtual reality headsets were first released by video game companies in the early-mid 1990’s. As the time passes, many multinational companies have ventured into the market environment focusing on technological developments, thereby paving the way for the growth of the market. Virtual reality is gaining importance across various end-user industries including consumer, entertainment, healthcare, construction, education, etc.
Global Virtual Reality Market Size:
Global Virtual Reality market is poised to reach the value of $ 45.06 billion by 2024, growing with the CAGR of 41.75%. The technology giants such as sony corporation, Facebook, Microsoft, Google and others are investing vast amounts in the virtual reality market which will accelerate the demand for the market during the forecast period. Increasing technological advancements such as growing development of head-mounted displays and smart glasses, increasing adoption to HMD’s in gaming and entertainment sector, rising mobile phones, tablets and smartphone’s with built-in VR functionalities, use of virtual reality (VR) and augmented reality (AR) in military are the factors fueling the growth of the market. On the flip side, high initial investment costs owing to expensive hardware & device compatibility restrictions and display latency and energy consumption affect the overall performance of VR devices are hampering the market growth. Growing importance of VR’s in Healthcare Sector, penetration of HMDs in architectural applications is creating enormous opportunities for the companies operating in the virtual reality workspace.
Global Virtual Reality Market Share:
The market is segmented as by device type, technology, component, end user and by geography. By device type, the market is classified into head-mounted displays and gesture control devices. Head mounted displays are estimated to have a significant share owing to increasing applications in gaming and entertainment, commercial, industrial, medical sectors and others. By technology, the market is segmented into non-immersive and full & semi-immersive technologies.
By the component, the market is classified into hardware components and software components. The hardware components segment is further classified into sensors, semiconductor Components and displays. The software components are further segmented into cloud-based solutions, software developer kits. The software components segment is likely to witness significant growth during the forecast period. Sensors segment is expected to have a significant share owing to increasing adoption of these in various end-user sectors.
By the end user, the market is segmented into aerospace & defence, industrial, automotive, Gaming & Entertainment, healthcare, construction, commercial and others. Gaming and Entertainment segment is expected to have a significant share in the market owing to high penetration in the sector. The major sports leagues and associations, film producers are showing significant interest in adopting the VR and AR technologies which will enhance the market demand.
By geography, the market is classified into North America, South America, Europe, APAC, and Middle East & Africa regions. North America is expected to hold the most significant market share is owing to increasing adoption of technological advancements, and the presence of key players have propelled the growth of the market in the region. Growing IT infrastructure coupled with increasing penetration of smartphones has propelled the growth in the region, especially in the U.S. APAC is the fastest growing region in the forecast period. China, India, and Japan are the major countries driving the virtual reality market in the region. Additionally, the countries in the APAC region are taking considerable steps to upsurge the IT infrastructures and helps the customers to adopt cutting-edge technologies in the market. However, advances in technologies, increasing number of acquisitions, partnerships by the significant players in virtual reality ecosystem is boosting the growth of the market.
Global Virtual Reality Market Trends:
- On October 2, 2017, Sony has released an updated version of its PlayStation VR with some minor advancement.
- On October 2, HTC has released HTC VIVE Product VR in Thailand.
Global Virtual Reality Market Research Reports Includes:
- An executive summary condensing the whole report such that essential authority can rapidly twist up doubtlessly acquainted with brief overview and conclusion.
- To have a complete market analysis through industry value chain analysis, Porter’s five, PESTLE, SWOTanalysis, and Y-o-Y analysis.
- Regional and global diversity is analysed with the major countries and the unions. Scrutinizing the revenue generation on Year–On–Year
- Identifying DROC in the current market and their impact on altering the market dynamics.
- Competitive landscape analysis to identify the merger and acquisition which will have a comparative financial study with significant competitors.
- Expertise investment opportunities by an analyst to the individual and organisation to have a better foothold in the market.
- Identify the latest developments, market shares and strategies that are employed by the major market players, such as
- Sony Corporation
- Microsoft Corporation
- Facebook, Inc.
- HTC Corporation
- Google LLC
- Samsung Electronics Co. Ltd.
Along with these companies, there were many other companies are considered in the report while analysing the Global virtual reality market. These companies hold substantial share-owning to the nature of the industry whereas the rest of the market shares are marginal chunks to regional and local level manufacturers. Other players have considerable presence owing to its robust brand image, geographical reach and stable customer base.
1. Introduction
1.1 Executive Summary
1.2 Market Definition
1.3 Scope of the Study
2. Research Methodology
2.1 Secondary Research
2.2 Primary Research
2.3 Analytic Tools and Model
2.4 Economic Indicator
2.4.1 Base Year, Base Currency, Forecasting Period
2.5 Expert Validation
2.6 Study Timeline
3. Market Analysis
3.1 Industry Value Chain Analysis
3.2 Porter’s Five Analysis
3.2.1 Bargaining Power of Buyers
3.2.2 Bargaining Power of Suppliers
3.2.3 Threats of Substitutes
3.2.4 Threats of New Entrants
3.2.5 Industry Rivalry
3.3 Pestle Analysis
3.3.1 Political
3.3.2 Economical
3.3.3 Social
3.3.4 Technological
3.3.5 Legal
3.3.6 Environmental
3.4 SWOT Analysis
3.4.1 Strengths
3.4.2 Weakness
3.4.3 Opportunities
3.4.4 Threats
3.5 Y-O-Y Analyses
4. Market Dynamics
4.1. Drivers
4.1.1. Increase adoption to HMD’s in gaming and entertainment sector.
4.1.2. Use of VR’s in the defence to have virtual training among the soldiers.
4.1.3. Increasing mobile phones, tablets and smartphone’s with built-in VR functionalities.
4.2. Restraints & Challenges
4.2.1. High initial investment costs because of expensive hardware & device compatibility
restrictions.
4.2.2. Display latency and energy consumption affect the overall performance of VR
devices.
4.3. Opportunities
4.3.1. Growing importance of VR’s in the Healthcare Sector.
4.3.2. Penetration of HMDs in architectural applications.
4.3.3. Growing number of investments in the market.
5. Global Virtual Reality Market – By Device Type
5.1. Introduction
5.2. Head Mounted Displays
5.3. Gesture Control Devices
5.3.1. Data Gloves
5.3.2. Others
6. Global Virtual Reality Market – By Technology
6.1. Introduction
6.2. Non-Immersive
6.3. Full & Semi-Immersive
7. Global Virtual Reality Market – By Component
7.1. Introduction
7.2. Hardware Components
7.2.1. Sensors
7.2.1.1. Magnetometers
7.2.1.2. Gyroscopes
7.2.1.3. Image Sensors
7.2.1.4. Proximity Sensors
7.1.2. Semiconductor Components
7.1.2.1. ICs
7.1.2.2. Processors
7.1.3. Displays
7.2. Software Components
7.2.1. Cloud-Based Solutions
7.2.2. Software Developer Kits
8. Global Virtual Reality Market – By End User
8.1. Introduction
8.2. Aerospace & Defense
8.3. Industrial
8.4. Automotive
8.5. Consumer Electronics
8.6. Healthcare
8.6.1. Pharmacy Management
8.6.2. Surgery
8.6.3. Medical Training
8.6.4. Fitness Management
8.7. Construction
8.8. Commercial
8.8.1. Retail
8.8.2. Tourism
8.8.3. Education & Training
8.9. Others (Enterprise solutions, Geospatial mining and others)
9. Global Virtual Reality Market – By Geography
9.1. Introduction
9.2. North America
9.2.1. United States
9.2.2. Canada
9.2.3. Mexico
9.3. South America
9.3.1. Brazil
9.3.2. Argentina
9.3.3. Others
9.4. Europe
9.4.1. UK
9.4.2. Germany
9.4.3. France
9.4.4. Italy
9.4.5. Spain
9.4.6. Others
9.5. APAC
9.5.1. China
9.5.2. Japan
9.5.3. India
9.5.4. South korea
9.5.5. Australia & New Zealand
9.5.6. Others
9.6. Middle East and Africa
9.6.1. Middle East
9.6.2. Africa
10. Company Profiles
10.1. Sony Corporation
10.2. Microsoft Corporation
10.3. Facebook, Inc.
10.4. HTC Corporation
10.5. Google LLC
10.6. Samsung Electronics Co. Ltd.
10.7. GoPro, Inc.
10.8. Vuzix Corporation
10.9. CyberGlove Systems Inc
10.10. Sensics, Inc.
10.11. Leap Motion, Inc
10.12. Sixense Entertainment, Inc
10.13. EON Reality Inc
10.14. Oculus VR
11. Global Virtual Reality Market – Competitive Landscape
11.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements
11.2 Strategies Adopted by Top Companies
11.3 Market Share Analysis
12. Market Insights
12.1 Insights of Industry Experts
12.2 Investment Opportunities
12.3 Analyst Opinion
13. Appendix
13.1 List of Tables
13.2 List of Figures
- Competitive Analysis in marketing and strategic management is an assessment of the strengths and weaknesses of current and potential competitors.
- Monitoring the external and internal factors which affect the market dynamics with the aid of PESTLE analysis.
- The Regional and Global Variety is taken care of in the report.
- Year on Year basis generation of revenue is studied.
- Porter's Five Forces analyze the intensity of competition in an industry and its profitability level.
- The overview and the sustainability of the market are analyzed through SWOT.
- DROC (Drivers, Restraints, Opportunities and Challenges) is recognized in the current market scenario and see how its effect on market dynamics.
- The segment-level analysis in terms of type and technology.
- The value chain analysis, value that's created and captured by a company is the profit margin.
- Value Created and Captured – Cost of Creating that Value = Margin
- An executive summary consists of the whole report and the outcome is been given in the report to have brief knowledge about the report.
- Basis on the depth of the study we approach using analytical tools
- Expertise investment opportunities are given after analyzing the market to give the organization and the individual to have perfect knowledge about the market.
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Additional information
Report Type | Extensive Report, Miniature report, Snapshot Report |
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Virtual reality (VR) is an artificially generated real-time scenario of an image, object or location that simulates the experience. Current VR technology mostly utilises headsets & other wearable devices, and other electronics systems that simulate the user’s physical presence in a virtual or imaginary environment. Consumer virtual reality headsets were first released by video game companies in the early-mid 1990’s. As the time passes, many multinational companies have ventured into the market environment focusing on technological developments, thereby paving the way for the growth of the market. Virtual reality is gaining importance across various end-user industries including consumer, entertainment, healthcare, construction, education, etc.
Global Virtual Reality Market Size:
Global Virtual Reality market is poised to reach the value of $ 45.06 billion by 2024, growing with the CAGR of 41.75%. The technology giants such as sony corporation, Facebook, Microsoft, Google and others are investing vast amounts in the virtual reality market which will accelerate the demand for the market during the forecast period. Increasing technological advancements such as growing development of head-mounted displays and smart glasses, increasing adoption to HMD’s in gaming and entertainment sector, rising mobile phones, tablets and smartphone’s with built-in VR functionalities, use of virtual reality (VR) and augmented reality (AR) in military are the factors fueling the growth of the market. On the flip side, high initial investment costs owing to expensive hardware & device compatibility restrictions and display latency and energy consumption affect the overall performance of VR devices are hampering the market growth. Growing importance of VR’s in Healthcare Sector, penetration of HMDs in architectural applications is creating enormous opportunities for the companies operating in the virtual reality workspace.
Global Virtual Reality Market Share:
The market is segmented as by device type, technology, component, end user and by geography. By device type, the market is classified into head-mounted displays and gesture control devices. Head mounted displays are estimated to have a significant share owing to increasing applications in gaming and entertainment, commercial, industrial, medical sectors and others. By technology, the market is segmented into non-immersive and full & semi-immersive technologies.
By the component, the market is classified into hardware components and software components. The hardware components segment is further classified into sensors, semiconductor Components and displays. The software components are further segmented into cloud-based solutions, software developer kits. The software components segment is likely to witness significant growth during the forecast period. Sensors segment is expected to have a significant share owing to increasing adoption of these in various end-user sectors.
By the end user, the market is segmented into aerospace & defence, industrial, automotive, Gaming & Entertainment, healthcare, construction, commercial and others. Gaming and Entertainment segment is expected to have a significant share in the market owing to high penetration in the sector. The major sports leagues and associations, film producers are showing significant interest in adopting the VR and AR technologies which will enhance the market demand.
By geography, the market is classified into North America, South America, Europe, APAC, and Middle East & Africa regions. North America is expected to hold the most significant market share is owing to increasing adoption of technological advancements, and the presence of key players have propelled the growth of the market in the region. Growing IT infrastructure coupled with increasing penetration of smartphones has propelled the growth in the region, especially in the U.S. APAC is the fastest growing region in the forecast period. China, India, and Japan are the major countries driving the virtual reality market in the region. Additionally, the countries in the APAC region are taking considerable steps to upsurge the IT infrastructures and helps the customers to adopt cutting-edge technologies in the market. However, advances in technologies, increasing number of acquisitions, partnerships by the significant players in virtual reality ecosystem is boosting the growth of the market.
Global Virtual Reality Market Trends:
- On October 2, 2017, Sony has released an updated version of its PlayStation VR with some minor advancement.
- On October 2, HTC has released HTC VIVE Product VR in Thailand.
Global Virtual Reality Market Research Reports Includes:
- An executive summary condensing the whole report such that essential authority can rapidly twist up doubtlessly acquainted with brief overview and conclusion.
- To have a complete market analysis through industry value chain analysis, Porter’s five, PESTLE, SWOTanalysis, and Y-o-Y analysis.
- Regional and global diversity is analysed with the major countries and the unions. Scrutinizing the revenue generation on Year–On–Year
- Identifying DROC in the current market and their impact on altering the market dynamics.
- Competitive landscape analysis to identify the merger and acquisition which will have a comparative financial study with significant competitors.
- Expertise investment opportunities by an analyst to the individual and organisation to have a better foothold in the market.
- Identify the latest developments, market shares and strategies that are employed by the major market players, such as
- Sony Corporation
- Microsoft Corporation
- Facebook, Inc.
- HTC Corporation
- Google LLC
- Samsung Electronics Co. Ltd.
Along with these companies, there were many other companies are considered in the report while analysing the Global virtual reality market. These companies hold substantial share-owning to the nature of the industry whereas the rest of the market shares are marginal chunks to regional and local level manufacturers. Other players have considerable presence owing to its robust brand image, geographical reach and stable customer base.
1. Introduction
1.1 Executive Summary
1.2 Market Definition
1.3 Scope of the Study
2. Research Methodology
2.1 Secondary Research
2.2 Primary Research
2.3 Analytic Tools and Model
2.4 Economic Indicator
2.4.1 Base Year, Base Currency, Forecasting Period
2.5 Expert Validation
2.6 Study Timeline
3. Market Analysis
3.1 Industry Value Chain Analysis
3.2 Porter’s Five Analysis
3.2.1 Bargaining Power of Buyers
3.2.2 Bargaining Power of Suppliers
3.2.3 Threats of Substitutes
3.2.4 Threats of New Entrants
3.2.5 Industry Rivalry
3.3 Pestle Analysis
3.3.1 Political
3.3.2 Economical
3.3.3 Social
3.3.4 Technological
3.3.5 Legal
3.3.6 Environmental
3.4 SWOT Analysis
3.4.1 Strengths
3.4.2 Weakness
3.4.3 Opportunities
3.4.4 Threats
3.5 Y-O-Y Analyses
4. Market Dynamics
4.1. Drivers
4.1.1. Increase adoption to HMD’s in gaming and entertainment sector.
4.1.2. Use of VR’s in the defence to have virtual training among the soldiers.
4.1.3. Increasing mobile phones, tablets and smartphone’s with built-in VR functionalities.
4.2. Restraints & Challenges
4.2.1. High initial investment costs because of expensive hardware & device compatibility
restrictions.
4.2.2. Display latency and energy consumption affect the overall performance of VR
devices.
4.3. Opportunities
4.3.1. Growing importance of VR’s in the Healthcare Sector.
4.3.2. Penetration of HMDs in architectural applications.
4.3.3. Growing number of investments in the market.
5. Global Virtual Reality Market – By Device Type
5.1. Introduction
5.2. Head Mounted Displays
5.3. Gesture Control Devices
5.3.1. Data Gloves
5.3.2. Others
6. Global Virtual Reality Market – By Technology
6.1. Introduction
6.2. Non-Immersive
6.3. Full & Semi-Immersive
7. Global Virtual Reality Market – By Component
7.1. Introduction
7.2. Hardware Components
7.2.1. Sensors
7.2.1.1. Magnetometers
7.2.1.2. Gyroscopes
7.2.1.3. Image Sensors
7.2.1.4. Proximity Sensors
7.1.2. Semiconductor Components
7.1.2.1. ICs
7.1.2.2. Processors
7.1.3. Displays
7.2. Software Components
7.2.1. Cloud-Based Solutions
7.2.2. Software Developer Kits
8. Global Virtual Reality Market – By End User
8.1. Introduction
8.2. Aerospace & Defense
8.3. Industrial
8.4. Automotive
8.5. Consumer Electronics
8.6. Healthcare
8.6.1. Pharmacy Management
8.6.2. Surgery
8.6.3. Medical Training
8.6.4. Fitness Management
8.7. Construction
8.8. Commercial
8.8.1. Retail
8.8.2. Tourism
8.8.3. Education & Training
8.9. Others (Enterprise solutions, Geospatial mining and others)
9. Global Virtual Reality Market – By Geography
9.1. Introduction
9.2. North America
9.2.1. United States
9.2.2. Canada
9.2.3. Mexico
9.3. South America
9.3.1. Brazil
9.3.2. Argentina
9.3.3. Others
9.4. Europe
9.4.1. UK
9.4.2. Germany
9.4.3. France
9.4.4. Italy
9.4.5. Spain
9.4.6. Others
9.5. APAC
9.5.1. China
9.5.2. Japan
9.5.3. India
9.5.4. South korea
9.5.5. Australia & New Zealand
9.5.6. Others
9.6. Middle East and Africa
9.6.1. Middle East
9.6.2. Africa
10. Company Profiles
10.1. Sony Corporation
10.2. Microsoft Corporation
10.3. Facebook, Inc.
10.4. HTC Corporation
10.5. Google LLC
10.6. Samsung Electronics Co. Ltd.
10.7. GoPro, Inc.
10.8. Vuzix Corporation
10.9. CyberGlove Systems Inc
10.10. Sensics, Inc.
10.11. Leap Motion, Inc
10.12. Sixense Entertainment, Inc
10.13. EON Reality Inc
10.14. Oculus VR
11. Global Virtual Reality Market – Competitive Landscape
11.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements
11.2 Strategies Adopted by Top Companies
11.3 Market Share Analysis
12. Market Insights
12.1 Insights of Industry Experts
12.2 Investment Opportunities
12.3 Analyst Opinion
13. Appendix
13.1 List of Tables
13.2 List of Figures
- Competitive Analysis in marketing and strategic management is an assessment of the strengths and weaknesses of current and potential competitors.
- Monitoring the external and internal factors which affect the market dynamics with the aid of PESTLE analysis.
- The Regional and Global Variety is taken care of in the report.
- Year on Year basis generation of revenue is studied.
- Porter's Five Forces analyze the intensity of competition in an industry and its profitability level.
- The overview and the sustainability of the market are analyzed through SWOT.
- DROC (Drivers, Restraints, Opportunities and Challenges) is recognized in the current market scenario and see how its effect on market dynamics.
- The segment-level analysis in terms of type and technology.
- The value chain analysis, value that's created and captured by a company is the profit margin.
- Value Created and Captured – Cost of Creating that Value = Margin
- An executive summary consists of the whole report and the outcome is been given in the report to have brief knowledge about the report.
- Basis on the depth of the study we approach using analytical tools
- Expertise investment opportunities are given after analyzing the market to give the organization and the individual to have perfect knowledge about the market.
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