Data Bridge Market Research analyses that the Asia-Pacific virtual reality market is expected to reach the value of USD 372,530.26 million by 2029, at a CAGR of 51.6% during the forecast period. The hardware segment accounts for the largest component segment in the Asia-Pacific virtual reality market. The Asia-Pacific virtual reality market report also comprehensively covers pricing, patent, and technological advancements.
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Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints, and challenges. All of this is discussed in detail below:
Drivers
Growing demand for HMD in the gaming and entertainment industry
Head-mounted displays (HMDs) have been high in the gaming and entertainment sector. The gaming industry has had a technological evolution with the emergence of VR and 3D technology. The use of HMDs has helped achieve a fully immersive experience for users and has taken the gaming experience to the next level.
Increasing demand for VR technology due to the COVID-19 pandemic
The world is going through different phases of physical lockdown, and social get-togethers are still not allowed in most countries. Hence, AR and VR technology during COVID-19 are emerging as superheroes by enabling people to feel connected to each other.
Opportunity
Increased deployment of VR technology in aerospace & defense and architecture & planning sector
The 3D design has enabled significant gains in the aerospace and defense equipment manufacturing processes. This has also positively impacted both performances of the aircraft as well as the manufacturing processes. The advancements in new 3D technologies bring new market opportunities to optimize production time and cost in the aerospace and defense industry.
Restraint/Challenge
Emerging risks and threats to data integrity
Virtual reality is being highly used for training and education purposes in defense and aerospace and is also used in telemedicine in the healthcare industry. Virtual reality uses computing technologies, cloud usage, and internet services to work, making it highly prone to cyber-attacks, threatening data integrity, and increasing the risk of data being leaked. Proper security and privacy are not being given much importance, posing a significant challenge for the virtual reality market.
Asia-Pacific Virtual Reality Market - Scope and Market Size:
Asia-Pacific virtual reality market is segmented based on component, device type, technology, and vertical. The growth amongst these segments will help you analyse 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
· Software
Device Type
· Head-Mounted Displays,
· Projectors & Display Walls
· Gesture-Tracking Devices
Technology
· Fully Immersive,
· Semi Immersive
· Non-Immersive
Vertical
· Automotive
· Aerospace & Defence
· Entertainment & Media
· Healthcare
· Education
· Industrial
· Commercial
· Others
Asia-Pacific Virtual Reality Market - Country Level Analysis:
Asia-Pacific virtual reality market is analysed, and market size insights and trends are provided by the country, component, device type, technology, and vertical as referenced above.
· Asia-Pacific virtual reality market covers countries such as Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific.
· China is expected to dominate the Asia-Pacific virtual reality market to the rise in the adoption of virtual reality devices for education training solutions and emerging potential markets.
· The country section of the Asia-Pacific virtual reality market report also provides individual market impacting factors and changes in regulations in the market domestically that impact the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, disease epidemiology, and import-export tariffs are some of the significant pointers used to forecast the market scenario for individual countries.
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Competitive Landscape - Asia-Pacific Virtual Reality Market
Some of the major players operating in the Asia-Pacific virtual reality market are Sony Corporation, Lenovo, Autodesk Inc., SKONEC ENTERTAINMENT Co., Ltd., bHaptics Inc., FXGear Inc., Innosimulation, Sixense Enterprises Inc., StarVR Corp, Virtuix, Novint, Nintendo, HTC Corporation, FOVE, Inc., Google (A Subsidiary of Alphabet Inc.), Qualcomm Technologies, Inc., Barco, HP Development Company, L.P., Microsoft, SAMSUNG ELECTRONICS CO., LTD., LG Electronics, among others.
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MAJOR TOC OF THE REPORT: -
· Chapter One: Introduction
· Chapter Two: Market Segmentation
· Chapter Three: Market Overview
· Chapter Four: Executive Summary
· Chapter Five: Premium Insights
· Chapter Six: Asia-Pacific Virtual Reality Market Share by Product & Procedure type
Get TOC Details: https://www.databridgemarketresearch.com/toc/?dbmr=asia-pacific-virtual-reality-market
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