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.
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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).
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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 – Segmentation
by Components
Hardware
Projector
Sensor
Software
by Systems
Non-immersive VR
Semi-immersive VR
Fully immersive VR
by Application
Entertainment
Gaming
Tourism
Automotive
Training and Education
Defense
Healthcare
by Device
Head-Mounted Display (HMD)
Gesture-Tracking Device (GTD)
Projectors & Display Wall (PDW)
Global Virtual Reality (VR) Market – Segmentation by Region
North America
United States
Canada
Europe
Germany
United Kingdom
France
Spain
Italy
Rest of Europe
Asia-Pacific
China
Japan
India
Rest of Asia-Pacific
Rest of the World
Company Profiles
Advanced Micro Devices, Inc.
Apple Inc.
Atheer labs
Baofengmojing
Carl Zeiss AG
Facebook Technologies, LLC.
Firsthand Technology Inc.
Google LLC
HTC Corp.
Magic Leap, Inc.
Matterport, Inc.
Mechdyne corp.
Microsoft Corp.
Niantic, Inc
Nvidia corp.
Samsung Electronics Co. Ltd.
Sony Corp.
Surreal VR
Unity technologies
VirtalisLtd.
Wevr
WorldViz, Inc.
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