The virtual reality market was valued at USD 6.1 billion in 2020 and is expected to reach USD 20.9 billion by 2025, at a CAGR of 27.9% from 2020 to 2025. Factors such as penetration of HMDs in the gaming and entertainment sector post COVID-19, advancement of technology and growing digitization are driving the growth of the market during the forecast period.
Sony (Japan) has set the pricing of VR PlayStation headset to USD 399 which is hundreds of dollars less than those of its counterparts. The company would bank on the economies of scale to grow in the VR market with the low pricing strategy to compete with the established headset makers in the VR market. Sony’s VR technology owns some of the largest movie, music, and gaming companies in the world. The company is planning to reshape entertainment delivery within prolonged lockdowns and, eventually, post-COVID-19. It is also planning to promote VR concerts and other VR entertainment solutions to entertain people by avoiding crowds and attaining a safe environment.
Oculus (US) develops and manufactures virtual reality technology products such as Oculus Rift and Oculus Touch. These are mostly utilized in video games of various categories including adventure, action, fighting, horror, and education. The company has its facilities in 5 locations spread across 4 states in the US and 1 in Seoul, South Korea. Oculus has made huge investments in R&D and has been as an important player in the virtual reality market as it has been backed by Facebook (US).
HTC (Taiwan) has been among the companies with huge investments in the virtual reality market. The company in partnership with Valve (US) developed Vive, a head-mounted display which would be useful for applications such as healthcare, retail, education, and automotive. HTC Corporation also announced to dedicate the fund of about USD 100 million to start-ups that would join the Vive X accelerator program. The Vive X accelerator program would help build VR ecosystem by investing in the promising VR companies. The HTV Vive is a product of HTC (Taiwan) and Valve (US). Valve Corporation owns the platform, technology, and software of the Vive; with HTC being just the manufacturer, HTC Corporation has recently announced its plans to spin-off their VR division into a new wholly owned subsidiary, HTC Vive Tech. The company has not been doing well in its smartphone business, and the move to concentrate on VR business with less acquaintance of technology initially seemed dicey. However, the move worked well. The company has come up with other products such as VIVE Tracker, Deluxe Audio Strap, and VIVEPORT. The company concentrates on providing accessories required for VR devices to exhibit enhanced experience. HTC ventured with Capital Alliance (VRVCA), along with 27 other firms, to form a consortium focused on VR investments. The VRVCA has a total fund of USD 10 billion for startups in the VR market. HTC Corporation has a broader ecosystem with this initiative of forming a consortium for VR-dedicated investments. The company is looking forth to enter applications such as entertainment, retail, education, training, design, healthcare, and automotive with VR products and services.
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=458
Also, the outbreak of the COVID-19 pandemic has impacted businesses and industries. To help businesses grow, HTC introduced the VR Meeting App, which helps connect users and deliver “face-to-face connection” during the lockdown. Also, to mitigate the spread of novel coronavirus (COVID-19), the company has announced that it is switching its upcoming developer conference to virtual reality meetings.
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledgestore” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Mr. Aashish Mehra
630 Dundee Road
Northbrook, IL 60062
Please Help Support BeforeitsNews by trying our Natural Health Products below!
Order by Phone at 888-809-8385 or online at https://mitocopper.com M - F 9am to 5pm EST
Order by Phone at 888-809-8385 or online at https://www.herbanomic.com M - F 9am to 5pm EST
Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!
HNEX HydroNano EXtracellular Water - Improve immune system health and reduce inflammation
Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.
pathogens and gives you more
energy. (See Blood Video)
Oxy Powder - Natural Colon Cleanser! Cleans out toxic buildup with oxygen!
Nascent Iodine - Promotes detoxification, mental focus and thyroid health.
Smart Meter Cover - Reduces Smart Meter radiation by 96%! (See Video)
Immusist Beverage Concentrate - Proprietary blend, formulated to reduce inflammation while hydrating and oxygenating the cells.