Virtual Reality Market expected at a CAGR of 63.18% between 2015 and 2020

The VRT is used in the gaming, entertainment, medical, industrial, aerospace, defense, education, and in many other applications. Several companies are investing heavily in the research and development of innovative virtual reality devices. Head mounted displays (HMDs), virtual reality googles, projectors & display walls, and gesture tracking devices such as data gloves, controllers, and others are mainly used for experiencing and interacting in the virtual environment. This market is expected to grow rapidly in the coming years; the market is projected to reach $15.89 Billion by 2020 at a considerable CAGR of 63.18% between 2015 and 2020.

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The growth of the virtual reality market is driven by the availability of advanced virtual reality devices such as HMDs and the increasing demand for virtual reality in the gaming and entertainment applications. The North American region held the largest share in this market, followed by the APAC region.

The VRT is mainly segmented into semi-immersive and fully-immersive technologies. In semi-immersive technology, the user can interact and experience both the real and virtual world at the same time. In fully-immersive technology, the user is completely immersed in the virtual world. The VRT can be further segmented on the basis of devices such as head mounted displays, gesture tracking devices such as data gloves, treadmills, controllers, and others, and projectors and display walls. In this report, the virtual reality market is also segmented on the basis of technology components, namely, hardware components such as semiconductors, sensors, and displays, and software.

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This market has a number of manufacturers of HMDs, data gloves, projectors and display walls, others.  The major active companies in this market include Oculus VR, Inc. (U.S.), Samsung Electronics Co., Ltd (Korea), Eon Reality, Inc. (U.S.), Vuzix Corporation (U.S.), Sensics, Inc. (U.S.), Leap Motion, Inc. (U.S.), Sixense Entertainment, Inc. (U.S.), Cyberglove Systems LLC (U.S.), Microsoft Corporation (U.S.), Barco N.V. (Belgium), and many more.

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This market research report describes market trends, drivers, and challenges for the market and forecasts the market size for the period between 2015 and 2020 on the basis of technology, device, component, application, and geography. The company profiles include the company overview, financial overview, products & services, and the recent developments. This report covers regions such as North America, Europe, APAC, and RoW (Rest of the World).

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