MarketsandMarkets

Virtual Reality Market Worth 33.90 Billion USD by 2022

[170 Pages Report] Virtual reality market analysis & forecast report categorizes by Component (Hardware and Software), Technology (Non-Immersive, Semi- & Fully Immersive), Device Type (Head-Mounted Display, Gesture Control Device), Application and Geography.

 

Seattle, WA -- (SBWIRE) -- 11/21/2017 -- The virtual reality market size, in terms of value, is expected to grow from USD 1.37 Billion in 2015 to USD 33.90 Billion by 2022, at a CAGR of 57.8% between 2016 and 2022. The increasing use of head-mounted displays (HMD) in the entertainment and gaming sector, decline in the prices of displays and other hardware components of HMDs, and use of VR for training and simulation in the defense sector are the major driving factors for the virtual reality market.

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownload.asp?id=458

This report segments the virtual reality market based on component, technology, device type, application, and geography. The market is further segmented on the basis of geography into various countries. The consumer application is expected to hold the largest market share during the forecast period. The consumer application in the market which includes gaming and entertainment applications accounted for the largest share. The large share can be attributed to the high penetration of this sector in the gaming industry. A major factor that is driving the growth of the virtual reality market includes the penetration of HMD in the gaming and entertainment industries. The commercial application would be the second-largest market during the forecast period, owing to the increasing demand for VR devices in the retail sector and for the purpose of educational training. The increased interest of large technology companies in VR has been one of the major driving factors for the growth of the market.

North America is expected to hold the largest size of the virtual reality market, while the market in Asia-Pacific is estimated to grow at the highest rate. Countries such as China, India, Japan, and South Korea in the APAC region are witnessing a huge demand for head-mounted displays for the gaming application. The increased number of start-ups and the increased acceptance for the VR technology in the APAC region are the market drivers.

Head-mounted displays are increasingly being used for applications such as consumer, commercial, medical, industrial sectors among others. In advanced gaming, HMD facilitates quality effects and an environment that enables a user to experience the thrill of gaming. The use of HMDs in other applications such as education and training, facility management are some of the drivers for the growth of the virtual reality market for HMDs.

However, the display latency and energy consumption affect the overall performance of the VR devices. Also, lack of movement and health concerns related to low resolution are the restraining factors for the growth of the virtual reality market.

Inquiry more: https://www.marketsandmarkets.com/Enquiry_Before_Buying.asp?id=458

The key players in virtual reality market include Oculus VR, LLC (US), Sony Corporation (Japan), HTC Corporation (Taiwan), Samsung Electronics Co., Ltd. (South Korea), EON Reality Inc. (US), Google Inc. (US), Microsoft Corporation (US), Vuzix Corporation (US), CyberGlove Systems Inc. (US), Sensics, Inc. (US), Leap Motion Inc. (US), and Sixense Entertainment, Inc. (US). These players adopted various strategies such as new product developments, partnerships, collaborations, and acquisitions to cater to the needs of the customers in the virtual reality market.

About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 5000 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets's flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Rohan
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com