US virtual reality market is growing at a CAGR of around 33.4% during the forecast period. The increasing demand for the display of information and real-time human interaction with digital devices and objects in various sectors such as automotive, gaming & entertainment industries, and pico-projectors is anticipated to be the major factors for the growth of the US virtual reality market in the near future.
According to the University of California, around 25 million people are active gamers in the U.S. The gaming industry of the country has around $30 billion of annual business. Pokémon Go has generated revenue of over $1 billion in 2016. The US is regarded as the highest spending country on gaming across the globe. USA Today Network is planning to bring the day-to-day news to the people in 360° video and virtual reality. The introduction of virtual reality news is expected to augment the advancement of virtual technology in other sectors such as healthcare and contribute to the US virtual reality market growth.
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In addition, in February 2017, Six Flags Entertainment, a theme park operator in the U.S. has collaborated with Samsung Electronics America Inc., for the development of virtual reality roller coasters. The partnership of Samsung with Six Flags will enable millions of people to experience virtual reality by bringing their Samsung VR headset to real roller coasters at theme parks across the country.
According to the JFCOM, the organization officials are planning to build obscure VR simulations of a number of cities. The final goal of the organization includes the creation of a fully functioning virtual model of the world. Arctic Cat Inc., a snowmobile manufacturer in the U.S., has developed a ride based on virtual reality experience for their potential customers. Moreover, the StubHub and eBay have announced the employment of virtual reality technology. Thus, such advancements are expected to provide growth to the US virtual reality market.
US Virtual Reality Market Segmentation
By Component
- Hardware
- Software
By System
- Non-immersive VR
- Semi-immersive VR
- Fully-immersive VR
By Application
- Entertainment
- Gaming
- Tourism
- Training & Education
- Others (Live Events and Real Estate)
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