Global virtual reality market was valued at USD 16.73 billion in 2021 and is expected to reach USD 143.86 billion by 2029, registering a CAGR of 30.86% during the forecast period of 2022-2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.
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Virtual Reality Market Dynamics
Drivers
Adoption of advanced technologies
According to 2020 data from a national survey, 90% of instructors concur that using AR/VR technology to create tailored and differentiating experiences for students is a viable strategy. The market prognosis for virtual classrooms is also projected to change as a result of the increasing use of AR and VR technology in corporate learning and development.
Opportunities presented by head mount displays in APAC region
The gaming and entertainment industries have seen significant adoption of HMDs. With the advent of VR and 3D technology, the gaming business has undergone technical development. The usage of HMDs has improved the user experience and elevated gaming to a new level by enabling a fully immersive environment.
Opportunities
Growth and expansion
Growth and expansion of education industry especially in the developing economies will present very many opportunities for the growth of the market. Additionally, the increasing trend of digitalization further offers numerous growth opportunities within the market. Restraints/Challenges
Developing user friendly VRs
An intuitive virtual environment makes it simple for a user to move around and interact with the objects there. A combination of hardware and software makes up the VR system. Through a variety of sensors, VR devices track a user's movements and present them on the virtual screen.
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Virtual Reality Market Scope
The virtual reality market is segmented on the basis of component, device type, technology and vertical. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Component
Hardware
Sensors
Semiconductor Components
Displays and Projectors
Position Trackers
Cameras
Others
Computer/video generator
Combiner
Software
Software Development Kits
Cloud-Based Services
VR Content Creation
Device Type
Head-Mounted Displays
Projectors & Display Walls
Gesture-Tracking Devices
Technology
Fully Immersive
Non-Immersive
Semi Immersive
Virtual Reality Market Regional Analysis/Insights :-
The countries covered in the virtual reality market report are U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
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Competitive Landscape and Virtual Reality Market Share Analysis: -
Some of the major players operating in the virtual reality market are
Axis Communications AB (Sweden)
Johnson Controls (Ireland)
Sony Corporation (Japan)
Avigilon Corporation (Canada)
Panasonic Corporation (Japan)
SAMSUNG (U.S.)
Arcules, Inc. (U.S.)
Google, LLC (U.S.)
Microsoft (U.S.)
HTC Corporation (Taiwan)
Oculus (U.S.)
EON Reality. (U.S.)
Vuzix (U.S.)
CyberGlove Systems Inc. (U.S.)
Ultraleap, Inc. (U.S.)
Sixense Enterprises Inc (U.S.)
MAJOR TOC OF THE REPORT: -
Ø Chapter One: Introduction
Ø Chapter Two: Market Analysis and Insights
Ø Chapter Three: Market Dynamics
Ø Chapter Four: Market Scope
Ø Chapter Five: Market Regional Insights
Ø Chapter Six: Competitive Landscape System Market
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