Virtual Reality Market
Global Virtual Reality (VR) Market Research By Components (Hardware and Software), By Systems (Non-immersive VR, Semi-immersive VR, and Fully immersive VR), By Application (Entertainment, Gaming, Tourism, Automotive, Training and education, Defense, and Healthcare), By Device (Head-Mounted Display, Gesture-Tracking Device, and Projectors & Display Wall ) Forecast, 2021-2027 Update Available - Forecast 2024-2030
The global Virtual Reality (VR) market is growing at a considerable CAGR of around 18.0% during the forecast period. VR technology is used for consumer applications such as gaming and entertainment the games sector is projected to be the fastest-growing segment after the advertisement in the media and entertainment industry across the globe. The factors that drive the growth of the market include increasing demand for VR technology in interactive video games, and movies, and television series. VR is used in various gaming types such as internet games, PC gaming, gaming consoles, and smartphones, and tablets would impel the VR market for the consumer application.
Additionally, the use of VR in training, and education, defense, and healthcare industries will drive the growth of the market. Moreover, the investments by the key players are creating developments in the field of display technology, which is also going to transform the vision of the traditional methodology. For instance, in May 2020 Apple Inc. acquired NextVR, a startup company that offers sports and other content for virtual-reality headsets. The acquirement may aid Apple’s development of VR and AR headsets with associated software and content. NextVR supplies content to several existing VR headsets, including Facebook Inc.’s Oculus and devices from Sony Corp., HTC Corp., and Lenovo.
Impact of COVID-19 on the Virtual Reality (VR) Market
The global virtual reality VR market has a positive impact due to the COVID-19 pandemic since December 2019. The increasing demand for VR technology has increased during the pandemic due to the need for companies to operate their industry procedures virtually across the globe. The companies have moved to virtual platforms for present meetups to formulate several policies. Hence, the growing adoption of virtual events is driving the market growth.
Segmental Outlook
The market is segmented based on components, systems, applications, devices. Based on components, the market is segmented into hardware, software. Based on systems, the market is segmented into non-immersive VR, semi-immersive VR, fully immersive VR. On the basis of application, the market is segmented into entertainment, gaming, tourism, automotive, training and education, defense, healthcare. Based on the device, the market is segmented into the head-mounted display (HMD), gesture-tracking device (GTD), and projectors & display wall (PDW).
Global Virtual Reality (VR) Market Share by Component, 2020 (%)
The Hardware Segment is Projected to Dominate the Global VR Market
Based on the components segment, the hardware component segment is estimated to have the largest market share in the global VR market. The market is primarily driven due to the rapid penetration of smartphones, tablets, and other digitally advanced electronic devices. The hardware segment contains output devices, input devices, and consoles. The growing usage of VR headsets in commercial applications and amusement and theme parks in other places are projected to offer new advanced opportunities to the market players.
Regional Outlooks
The global VR market is analyzed based on the geographical regions that are contributing significantly towards the growth of the market. Based on the geography, the market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World. North America held a considerable share in 2020 in the global VR market. Some factors that are boosting the market growth in North America include the increased research activities in the field of VR, and the presence of key market players in the region such as Apple, Inc., Google LLC, Microsoft Corp. Initiatives by the US government by deploying virtual training sessions on public health veterinary, and speedy internet penetration and advancement in immersive technology.
Global Virtual Reality (VR) Market, by Region 2021-2027
Asia-Pacific will Have Considerable Growth in the Global VR Market
The Asia-Pacific is expected to witness significant growth opportunities for the market in the given forecast period. The factors that drive the market in the region include, rising developments in VR technology, China has the largest market share as the country is the foremost distributor for Head-Mounted Display (HMDs). For instance, in 2019, Japan launched 5G commercial services, which directed to the strategic inventiveness taken by telecom businesses to provide VR /Augmented Reality (AR) viewing platforms, developing 5G connectivity. Additionally, increasing initiatives by the government, such as investments and funds to benefit VR firms are some factors that impel the growth of the market in Asia-Pacific.
Market Player Outlook
Key players of the global VR market include Apple Inc, Baofeng mojing, Facebook Technologies, LLC., Google, HTC Corporation, Microsoft (hololens), Niantic, inc, Samsung, Sony Corp., Unity technologies, Zeiss international. To survive in the market, these players adopt different marketing strategies such as product launches. For instance, in May 2021, AMD and the Mercedes-AMG Petronas Esports Team announced a partnership to allow the team through championship-level computing technologies and performance for competitive virtual racing. through the partnership, AMD has equipped the Mercedes-AMG Petronas Esports Team with the combination of AMD Radeon RX 6900 XT Graphics Cards, built upon the groundbreaking AMD RDNA 2 gaming architecture, best-in-class AMD Ryzen 7 5800X Desktop Processors1, powered by the fastest cores for PC gamers with “Zen 3” core architecture2, and advanced Radeon Software to assist the maximum framerates and ultra-low-latency gameplay.
The Report Covers
- Market value data analysis of 2020 and forecast to 2027.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global VR market Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where in the market.
1. Report Summary
• Current Industry Analysis and Growth Potential Outlook
• Impact of COVID-19 on the Global VRIndustry
• Recovery Scenario of Global VRIndustry
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. By Geography
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.2.2. Recommendations
2.2.3. Conclusion
3. Competitive Landscape
3.1. Key Company Analysis
3.1.1. Overview
3.1.2. Financial Analysis
3.1.3. SWOT Analysis
3.2. Key Strategy Analysis
3.3. Impact of Covid-19 on Key Players
4. Market Determinants
4.1. Motivators
4.2. Restraints
4.3. Opportunities
5. Market Segmentation
5.1. Global VR Market by Components
5.1.1. Hardware
5.1.1.1. Projector
5.1.1.2. Sensor
5.1.2. Software
5.2. Global VR Market by Systems
5.2.1. Non-immersive VR
5.2.2. Semi-immersive VR
5.2.3. Fully immersive VR
5.3. Global VR Market by Application
5.3.1. Entertainment
5.3.2. Gaming
5.3.3. Tourism
5.3.4. Automotive
5.3.5. Training and Education
5.3.6. Defense
5.3.7. Healthcare
5.4. Global VR Market by Device
5.4.1. Head-Mounted Display (HMD)
5.4.2. Gesture-Tracking Device (GTD)
5.4.3. Projectors & Display Wall (PDW)
6. Regional Analysis
6.1. North America
6.1.1. United States
6.1.2. Canada
6.2. Europe
6.2.1. UK
6.2.2. Germany
6.2.3. Italy
6.2.4. Spain
6.2.5. France
6.2.6. Rest of Europe
6.3. Asia-Pacific
6.3.1. China
6.3.2. India
6.3.3. Japan
6.3.4. South Korea
6.3.5. Rest of Asia-Pacific
6.4. Rest of the World
7. Company Profiles
7.1. Advanced Micro Devices, Inc.
7.2. Apple Inc.
7.3. Atheer labs
7.4. Baofengmojing
7.5. Carl Zeiss AG
7.6. Facebook Technologies, LLC.
7.7. Firsthand Technology Inc.
7.8. Google LLC
7.9. HTC Corp.
7.10. Magic Leap, Inc.
7.11. Matterport, Inc.
7.12. Mechdyne corp.
7.13. Microsoft Corp.
7.14. Niantic, Inc
7.15. Nvidia corp.
7.16. Samsung Electronics Co. Ltd.
7.17. Sony Corp.
7.18. Surreal VR
7.19. Unity technologies
7.20. VirtalisLtd.
7.21. Wevr
7.22. WorldViz, Inc.
1. GLOBAL VR MARKET RESEARCH AND ANALYSIS, 2020-2027 ($ MILLION)
2. GLOBAL VR MARKET BY COMPONENT, 2020-2027 ($ MILLION)
3. GLOBAL VR HARDWARE MARKET BY REGION, 2020-2027 ($ MILLION)
4. GLOBAL VR SOFTWARE MARKET BY REGION, 2020-2027 ($ MILLION)
5. GLOBAL VR MARKET BY SYSTEM, 2020-2027 ($ MILLION)
6. GLOBAL NON-IMMERSIVE VR MARKET BY REGION, 2020-2027 ($ MILLION)
7. GLOBAL SEMI-IMMERSIVE VR MARKET BY REGION, 2020-2027 ($ MILLION)
8. GLOBAL FULLY IMMERSIVE VR MARKET BY REGION, 2020-2027 ($ MILLION)
9. GLOBAL VR MARKET BY APPLICATION, 2020-2027 ($ MILLION)
10. GLOBAL VR IN ENTERTAINMENT MARKET BY REGION, 2020-2027 ($ MILLION)
11. GLOBAL VR IN GAMING MARKET BY REGION, 2020-2027 ($ MILLION)
12. GLOBAL VR INTOURISM MARKET BY REGION, 2020-2027 ($ MILLION)
13. GLOBAL VR IN AUTOMOTIVE MARKET BY REGION, 2020-2027 ($ MILLION)
14. GLOBAL VR IN TRAINING AND EDUCATION MARKET BY REGION, 2020-2027 ($ MILLION)
15. GLOBAL VR IN DEFENSE MARKET BY REGION, 2020-2027 ($ MILLION)
16. GLOBAL VR IN HEALTHCARE MARKET BY REGION, 2020-2027 ($ MILLION)
17. GLOBAL VR MARKET BY DEVICE, 2020-2027 ($ MILLION)
18. GLOBAL HEAD-MOUNTED DISPLAY (HMD) MARKET BY REGION, 2020-2027 ($ MILLION)
19. GLOBAL GESTURE-TRACKING DEVICE (GTD) MARKET BY REGION, 2020-2027 ($ MILLION)
20. GLOBAL PROJECTORS & DISPLAY WALL (PDW) MARKET BY REGION, 2020-2027 ($ MILLION)
21. GLOBAL VR MARKET RESEARCH AND ANALYSIS BY GEOGRAPHY, 2020-2027 ($ MILLION)
22. NORTH AMERICAN VR MARKET RESEARCH AND ANALYSIS BY COMPONENT, 2020-2027 ($ MILLION)
23. NORTH AMERICAN VR MARKET RESEARCH AND ANALYSIS BY SYSTEM, 2020-2027 ($ MILLION)
24. NORTH AMERICAN VR MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2020-2027 ($ MILLION)
25. NORTH AMERICAN VR MARKET RESEARCH AND ANALYSIS BY DEVICE, 2020-2027 ($ MILLION)
26. NORTH AMERICAN VR MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2020-2027 ($ MILLION)
27. EUROPEAN VR MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2020-2027 ($ MILLION)
28. EUROPEAN VR MARKET RESEARCH AND ANALYSIS BY COMPONENT, 2020-2027 ($ MILLION)
29. EUROPEAN VR MARKET RESEARCH AND ANALYSIS BY SYSTEM, 2020-2027 ($ MILLION)
30. EUROPEAN VR MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2020-2027 ($ MILLION)
31. EUROPEAN VR MARKET RESEARCH AND ANALYSIS BY DEVICE, 2020-2027 ($ MILLION)
32. ASIA-PACIFIC VR MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2020-2027 ($ MILLION)
33. ASIA-PACIFIC VR MARKET RESEARCH AND ANALYSIS BY COMPONENT, 2020-2027 ($ MILLION)
34. ASIA-PACIFIC VR MARKET RESEARCH AND ANALYSIS BY SYSTEM, 2020-2027 ($ MILLION)
35. ASIA-PACIFIC VR MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2020-2027 ($ MILLION)
36. ASIA-PACIFIC VR MARKET RESEARCH AND ANALYSIS BY DEVICE, 2020-2027 ($ MILLION)
37. REST OF THE WORLD VR MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2020-2027 ($ MILLION)
38. REST OF THE WORLD VR MARKET RESEARCH AND ANALYSIS BY COMPONENT, 2020-2027 ($ MILLION)
39. REST OF THE WORLD VR MARKET RESEARCH AND ANALYSIS BY SYSTEM, 2020-2027 ($ MILLION)
40. REST OF THE WORLD VR MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2020-2027 ($ MILLION)
41. REST OF THE WORLD VR MARKET RESEARCH AND ANALYSIS BY DEVICE, 2020-2027 ($ MILLION)
1. IMPACT OF COVID-19 ON GLOBAL VR MARKET, 2020-2027 ($ MILLION)
2. IMPACT OF COVID-19 ON GLOBAL VR MARKET BY SEGMENT, 2020-2027 ($ MILLION)
3. RECOVERY OF GLOBAL VR MARKET, 2021-2027 (%)
4. GLOBAL VR MARKET SHARE BY COMPONENT, 2020 VS 2027 (%)
5. GLOBAL VR MARKET SHARE BY SYSTEM, 2020 VS 2027 (%)
6. GLOBAL VR MARKET SHARE BY APPLICATION, 2020 VS 2027 (%)
7. GLOBAL VR MARKET SHARE BY DEVICE, 2020 VS 2027 (%)
8. GLOBAL VR MARKET SHARE BY GEOGRAPHY, 2020 VS 2027 (%)
9. GLOBAL VR HARDWARE MARKET BY REGION, 2020 VS 2027 (%)
10. GLOBAL VR SOFTWARE MARKET BY REGION, 2020 VS 2027 (%)
11. GLOBAL NON-IMMERSIVE VR MARKET BY REGION, 2020 VS 2027 (%)
12. GLOBAL SEMI-IMMERSIVE VR MARKET BY REGION, 2020 VS 2027 (%)
13. GLOBAL FULLY IMMERSIVE VR MARKET BY REGION, 2020 VS 2027 (%)
14. GLOBAL VR IN ENTERTAINMENT MARKET BY REGION, 2020 VS 2027 (%)
15. GLOBAL VR IN TOURISM MARKET BY REGION, 2020 VS 2027 (%)
16. GLOBAL VR IN AUTOMOTIVE MARKET BY REGION, 2020 VS 2027 (%)
17. GLOBAL VR IN TRAINING AND EDUCATION MARKET BY REGION, 2020 VS 2027 (%)
18. GLOBAL VR IN DEFENSE MARKET BY REGION, 2020 VS 2027 (%)
19. GLOBAL VR IN HEALTHCARE MARKET BY REGION, 2020 VS 2027 (%)
20. GLOBAL HEAD-MOUNTED DISPLAY (HMD) MARKET BY REGION, 2020 VS 2027 (%)
21. GLOBAL GESTURE-TRACKING DEVICE (GTD) MARKET BY REGION, 2020 VS 2027 (%)
22. GLOBAL PROJECTORS & DISPLAY WALL (PDW) MARKET BY REGION, 2020 VS 2027 (%)
23. US VR MARKET SIZE, 2020-2027 ($ MILLION)
24. CANADA VR MARKET SIZE, 2020-2027 ($ MILLION)
25. UK VR MARKET SIZE, 2020-2027 ($ MILLION)
26. GERMANY VR MARKET SIZE, 2020-2027 ($ MILLION)
27. SPAIN VR MARKET SIZE, 2020-2027 ($ MILLION)
28. FRANCE VR MARKET SIZE, 2020-2027 ($ MILLION)
29. ITALY VR MARKET SIZE, 2020-2027 ($ MILLION)
30. REST OF EUROPE VR MARKET SIZE, 2020-2027 ($ MILLION)
31. INDIA VR MARKET SIZE, 2020-2027 ($ MILLION)
32. CHINA VR MARKET SIZE, 2020-2027 ($ MILLION)
33. JAPAN VR MARKET SIZE, 2020-2027 ($ MILLION)
34. SOUTH KOREA VR MARKET SIZE, 2020-2027 ($ MILLION)
35. REST OF ASIA-PACIFIC VR MARKET SIZE, 2020-2027 ($ MILLION)
36. REST OF WORLD VR MARKET SIZE, 2020-2027 ($ MILLION)
