Envision Report

Published March 12, 2018

Virtual Reality Market – Size, Outlook, Trends and Forecasts (2018 – 2024)

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A computer created a simulation of an image in a 3-dimensional environment which can be experienced with a special electronic device, such as helmet, the screen inside VR glasses, Gloves fitted with sensors. There are three benefits of the VR’s, VR’s are used to train the trainee’s like pilots using simulators, doctors doing virtual reality surgeries to minimise the risk, pilots landing the plane. These all are immersive learning and most powerful skills to acquire with most precision and concentration. VR’s are used to bring digital workers altogether in digital meetings and conferences. The usage of VR’s is so convenient and reduces the organisation time and money and makes the workflow smooth. The usage of VR is suitable for all learning styles.

Virtual Reality Market Report Segments Size & Growth:

Virtual Reality Market size is projected to reach approximately USD 33.81 Billion by the end of 2024 with a CAGR of close to 57.38% from USD1.35 Billion in 2017 during the Virtual Reality Market forecast timeline 2018-2024. The Virtual Reality (VR) growth is triggered by the abilities of a VR used in a widespread application like aerospace & defence, commercial, industrial, electronics, and medical field. The Virtual Reality Market or VR Market became an important asset to the market with the innovative launch of VR Headset designed for the gaming purpose. So the Virtual Reality Market Growth is expected to increase exponentially over the forecasting period.

VR’s used in the Military and Defence application to have a virtual combat training for the soldiers to improve their shooting skills and reflexes. Another main driver driving the VR market size is increased in the manufacturing of smart mobiles, tablets with a VR surfing specification in it. Smartphones with VR functionalities are the latest trend in the Virtual Reality Industry. On the other hand, the cost of the hardware used in VR is very high, and there is a device compatibility restriction for the usage of the VR. Growing importance for the VR’s in the healthcare sector, to perform surgeries and to train the trainees with the aid of VR’s is increasing the VR Industry Growth. Being a new trend, globally the investments on VR’s is helping the VR Market size to increase on a regular basis.

Virtual Reality Market Report Segments Share:

By Device Type, the Virtual Reality Market is segmented into Global Head-Mounted Displays (HMDs), Gesture Control Devices sensors, and Projectors & Display Walls. Among these HMD’s has the largest contribution to the VR Market and is expected to continue over the forecasting period. It is because of revolution of IoT and increasing in penetration into the usage of smartphones. By technology type, the VR Market is segmented into Non-Immersive, semi & fully immersive software technologies. Among them, the semi & fully immersive technology VR’s acquire the largest share during the forecast period.

The immersive technology VR’s are used for very powerful operations like pilots landing the plane, doctors operating a patient. These practices carried out by fully immersive technology VR can expand the industry in any sector. The VR Market is segmented by the components used, and they are hardware, software and semiconductor components. These three sub-segments are further segmented into sensors, magnetometers, gyroscopes, image sensors etc. Software components used in VR’s is further divided into cloud-based software and software development kits. The semiconductor components are further sub-segmented into integrated boards, displays, processors. Among all these the Virtual Reality for the software component is expected to grow with fast rate and dominate the market over the forecasting period.

Owing to the increase in adoption of the consumers to VR’s based technologies around the world. Application further segments the VR Market, and they are Aerospace & Defence, Commercial use, Industrial use, Medical use and others. Among all these the Commercial applications is expected to grab the highest market share and dominate the VR Market over the forecasting period. The use of VR in various gaming types like PC gaming, gaming consoles, smartphones, is responsible for the huge market in this segment. Geographically the VR Market is segmented into North America, South America, Europe, Middle East & Africa and the Asia Pacific. North America is expected to hold the largest market share and lead the Virtual Reality Market over the forecasting period. It is because of extensive R&D because of the number of VR companies set up in the USA.

Virtual Reality Market Report Trends:

  • On October 2nd, 2017 Sony has released an updated version of its PlayStation VR with some minor advancement.
  • On October 2nd HTC has released HTC VIVE Product VR in Thailand.

Virtual Reality Market Report Research Report:                                     

An executive summary condensing the whole report such that essential authority can rapidly twist up doubtlessly acquainted with brief overview and conclusion.

To have complete market analysis, industry value chain analysis, Porter’s Five Force Analysis, PESTLE, SWOT analysis, and Y-o-Y analysis were carried to understand the market more comprehensively.

Global and Regional 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 in altering the market dynamics.

Competitive landscape analysis to identify the mergers and acquisitions which will have a comparative financial analysis with major competitors.

Expertise investment opportunities by an analyst to the individual and organisation to have a better foothold in the market.

The major market players, such as

  • Sony
  • Microsoft Corporation
  • Facebook
  • HTC
  • Google
  • Samsung Electronics

Along with these companies, there were many other companies considered/cited in the report while analysing the Virtual Reality Market. These companies hold substantial share-owning to the nature of the industry whereas 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 strong customer base




Chapter 1 Introduction

1.1 Executive Summary

1.2 Market Definition

1.3 Scope of the Study

Chapter 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

Chapter 3 Market Analysis

3.1 Industry Value Chain Analysis

3.2Porter’s Five Force 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

Chapter 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

4.2.1 High initial investment costs because of expensive hardware & device compatibility restrictions

4.3 Opportunities

4.3.1 Growing importance of VR’s in Healthcare Sector.

4.3.2 Increase in investments in Virtual Reality

Chapter 5 Virtual Reality Market – By Device Type

5.1 Global Head-Mounted Displays (HMDs)

5.2 Gesture Control Devices sensors

5.3 Projectors and Display Walls

Chapter 6 Virtual Reality Market– By Technology

6.1 Non-Immersive

6.2 Fully and Semi-Immersive

Chapter 7 Virtual Reality Market– By Component

7.1 Hardware Components

7.1.1 Sensors Magnetometers Gyroscopes Image Sensors Proximity Sensors

7.2 Software Components

7.2.1 Cloud-based Software

7.2.2 Software Developer Kits

7.3 Semiconductor Components

7.3.1 Integrated Circuits

7.3.2 Displays

7.3.3 Processors

Chapter 8 Virtual Reality Market– By Application

8.1 Aerospace and Defence

8.2 Commercial

8.3 Industrial

8.4 Medical

8.5 Others

Chapter 9 Virtual Reality Market- By Geography

9.1 Introduction

9.2 North America

9.2.1 U.S.

9.2.2 Canada

9.2.3 Mexico

9.3 Europe

9.3.1 U.K.

9.3.2 Germany

9.3.3 France

9.3.4 Italy

9.3.5 Spain

9.3.6. Rest of Europe

9.4 APAC

9.4.1 China

9.4.2 Japan

9.4.3 India

9.4.4 South Korea

9.4.5 Australia & New Zealand

9.4.6 Rest of APAC

9.5 South America

9.5.1 Brazil

9.5.2 Argentina

9.5.3 Others

9.6 Middle East & Africa

9.6.1 Middle East

9.6.2 Africa

Chapter 10 Virtual Reality Market- Company Profiles

10.1 Sony

10.2 Microsoft Corporation

10.3 Facebook

10.4 HTC

10.5 Google

10.6 Samsung Electronics

10.7 GoPro

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

Chapter 11 Virtual Reality Market- Competitive Landscape

11.1. Market Share Analysis

11.2. Strategies Adopted by top companies

11.3. Mergers, Acquisitions, Collaborations & Agreements

Chapter 12 Market Insights

12.1. Industry Experts Insights

12.2. Analysts Opinions

12.3. Investment Opportunities

Chapter 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 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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