The virtual reality market size, in terms of value, is expected to grow from USD 1.37 billion in 2015 to USD 33.90 billion by 2022, at a CAGR of 57.8% between 2016 and 2022. Virtual reality manufacturers witnessed an increased shipment of devices for various applications such as consumer and commercial among others. The growing demand for smartphones and the growth of mobile VR soon would drive the virtual reality market.
The report ” Virtual Reality Market by Component (Hardware & Software), Technology (Non-Immersive, Semi- & Fully Immersive), Device Type (Head-Mounted Display, Gesture Control Device), Application & Geography – Global Forecast to 2022 “, analyses and studies the major market drivers, restraints, opportunities, and challenges in the emerging nations.
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“Increasing adoption of head-mounted displays in gaming and entertainment to drive the virtual reality market”
· Key Drivers of Virtual Reality Market
1. Increasing adoption of head-mounted displays (HMD) in gaming and entertainment sector
2. Decline in the prices of displays and other hardware components of hmds
3. Use of VR for training and simulation in defense
· Virtual reality market Restraints
1. Display latency and energy consumption affect the overall performance of virtual reality devices
2. Lack of movement and health concerns related to low resolution
· Virtual Reality Market Opportunities
1. Significant number of investments in the virtual reality market
2. Increasing adoption of head-mounted displays in medical and healthcare
3. Increasing applications in the architecture & design segment
· Virtual reality market Challenges
1. Developing user-friendly virtual reality and tracking systems for easy acceptance and penetration of the virtual reality.
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· Key Region of Virtual Reality Market are
1. North America
9. Rest of Europe
10. Asia-Pacific (APAC)
13. South Korea
15. Rest of APAC
16. Rest of The World (Row)
17. Middle East & Africa
18. Latin America
19. Competitive Landscape
“The virtual reality market for head-mounted displays to grow at a high rate during the forecast period”
The key players in the virtual reality market profiled in the report are as follows:
1. Oculus VR, LLC (U.S.)
2. Sony Corporation (Japan)
3. HTC Corporation (Taiwan)
4. Samsung Electronics Co., Ltd. (South Korea)
5. EON Reality Inc. (U.S.)
6. Google Inc. (U.S.)
7. Microsoft Corporation (U.S.)
8. Vuzix Corporation (U.S.)
9. CyberGlove Systems, Inc. (U.S.)
10. Sensics, Inc. (U.S.)
11. Leap Motion, Inc. (U.S.)
12. Sixense Entertainment, Inc. (U.S.)
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The head-mounted displays have a high potential for growth, owing to their easy availability and high demand in gaming applications.
“Asia-Pacific expected to be the fastest-growing region”
The presence of companies such as the Sony Corporation (Japan), HTC Corporation (Taiwan), and Samsung Electronics Co., Ltd. (South Korea) has helped the growth of the VR market in the APAC region. The growing consumer and commercial markets with increased investments in the APAC region such as Japan, India, and China would help the growth of the virtual reality market in APAC.
In the process of determining and verifying the market size for several segments and sub segments gathered through secondary research, extensive primary interviews were conducted with key people.
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The report would help the market leaders/new entrants in this market in the following ways:
1. This report segments the virtual reality market comprehensively and provides the closest approximations of the overall market size and that of the sub segments across different verticals and regions.
2. The report helps stakeholders to understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities.
3. This report would help stakeholders to understand their competitors better and gain more insights to enhance their position in the business. The competitive landscape section includes competitor ecosystem, new product developments and launches, partnerships, and mergers & acquisitions in the virtual reality market.
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