Virtual Reality - Global Market Outlook (2018-2027)
According to Stratistics MRC, the Global Virtual Reality market is accounted for $7.90 billion in 2018 and is expected to reach $91.00 billion by 2027 growing at a CAGR of 31.2% during the forecast period. Some of the key factors propelling the market growth are growing digitization and availability of affordable VR devices, penetration of HMDs in gaming and entertainment sector, huge investment in virtual reality market. However, health concerns relating to low resolution and lack of movement is the restraining factor for the growth of the market.
Virtual Reality (VR) is transforming the way we relate with the objects and environment around us. Virtual presents a 3D computer generated environment which a person can explore and interact with and the person becomes a part of the near-reality world. Virtual reality is gaining popularity across various sectors such as healthcare, entertainment, real-estate, education, etc. It is being used to offer training to doctors and employees to avoid any mistakes. Digital meetings and conferences in a real-time are becoming possible with Virtual Reality. It is making it more expedient for architects to evaluate designs and see how the structure will look in real.
By device type, gesture-tracking devices are used as input devices for VR systems. These tracking devices track the user’s movements and enable the user to interact with the virtual environment. Gesture-tracking devices include data gloves, treadmills, and controllers to facilitate gesture and action tracking in VR applications. These devices might be helpful for surgeons during surgery. During a surgical intervention, the surgeon needs to control surgical devices such as X-ray, drill, and endoscope; a contact-free, gesture-based controller can be used by the surgeon, which, in turn, would help in touchless approach.
Based on the geography, North America is expected to have considerable market growth during the forecast period, the use of VR in various applications, especially in consumer electronics, is helping the growth of the VR market in this region. Applications such as aerospace & defense, healthcare, consumer, and commercial are utilizing VR technologies for further advancements. The US has many global players featuring VR products and solutions. This helps North America stand out as the major region in the global VR market. The increased use of VR for applications such as tourism and ecommerce, as well as for training purposes, has helped drive the VR market in the region.
Some of the key players in virtual reality market include Sony, HTC, Google, Vuzix, Apple Inc., Microsoft, Samsung Electronics, Eon Reality, Facebook, Inc, CyberGlove Systems, Sensics, Sixense Enterprises, Merge Labs, Qualcomm Technologies, Inc, Dessault Systems SE, Lenovo Group Ltd., Autodesk Inc., and Magic Leap, Inc.
• Fully Immersive
Device Types Covered:
• Gesture-Tracking Devices
• Projectors & Display Walls
• Head-Mounted Displays (HMDs)
• 3D Cameras
• Console VR
• Mobile VR
• PC VR
End Users Covered:
• Aerospace & Defense
• Governmental & Financial Institutions
• Electronic Product Manufacturers
• Other End Users
• Training & Simulation
• Research & Development
• Other Applications
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2017, 2018, 2019, 2023 and 2027
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic analysis: Drivers and Constraints, Product/Technology Analysis, Porter’s five forces analysis, SWOT analysis, etc.
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Select License Type
Best in class reports with high standard of research integrity
24X7 Research Support
Continuous support to ensure the best customer experience.
Adding more values to your product of interest.
Safe & Secure Access
Providing a secured environment for all online transactions.
Trusted by 600+ Brands
Serving the most reputed brands across the world.