According to the latest report by IMARC Group, titled ” Virtual Reality Market Report: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026″, the Global Virtual reality Market reached a value of US$ 19 Billion in 2020. Looking forward, IMARC Group expects the market to grow at a CAGR of around 31% during 2021-2026.
Virtual reality (VR) Market is a computer-generated simulation to facilitate interaction between an artificial 3D environment. It involves specialized head-mounted goggles with display screens, bodysuits, and gloves equipped with sensors to provide a realistic experience to the user. VR combines hardware, software, and sensory inputs to achieve a sense of presence through non-, semi-, and fully-immersive films. Virtual reality technology employs instructive training of engineers, pilots, armed forces, field workers, and technicians in different industries, such as gaming, entertainment, retail, travel, healthcare, and aerospace.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Global Virtual reality (VR) Market Trends:
The growing penetration of industry 5.0 trends, coupled with the widespread adoption of VR in the gaming and entertainment sectors, is primarily driving the global market. Furthermore, sports-based game developers are launching sensor-enabled tennis racquets for playing a computer-controlled game simulation in an enclosed space. Additionally, VR provides a first-hand experience of road and in-traffic driving scenarios to the learners and familiarizes them with the steering wheel, brake, and accelerator of the vehicle, which is also bolstering the market growth. Moreover, several technological advancements, such as the innovative HMDs and goggles with 360-degree viewing capabilities, are acting as other growth-inducing factors.
Global Virtual reality (VR) Market 2021-2026 Analysis and Segmentation:
Competitive Landscape with Key Player:
- CyberGlove Systems Inc.
- Eon Reality Inc.
- Google LLC (Alphabet Inc.)
- HTC Corporation
- Microsoft Corporation
- Oculus VR LLC (Facebook Inc.)
- Samsung Electronics Co. Ltd.
- Sixense Enterprises Inc.
- Sony Corporation
- StarVR Corp (Acer Inc.)
- Ultraleap Ltd.
- Unity Software Inc.
Market Breakup by Device Type:
- Head-Mounted Display
- Gesture-Tracking Device
- Projectors and Display Wall
Market Breakup by Technology:
- Semi and Fully Immersive
- Non-Immersive
Market Breakup by Component:
- Hardware
- Software
Market Breakup by Application:
- Aerospace and Defense
- Consumer
- Commercial
- Enterprise
- Healthcare
- Others
Market Breakup by Region:
- North America
- Asia-Pacific
- Europe
- Latin America
- Middle East and Africa
Key Highlights of the Report:
- Market Performance (2015-2020)
- Market Outlook (2021- 2026)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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