According to the latest report by IMARC Group, titled " Virtual reality (VR) Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026″, the Global Virtual reality (VR) Market reached a value of US$ 19 Billion in 2020. Looking forward, IMARC Group expects the market to grow at a CAGR of around 31% during 2021-2026.
Virtual reality (VR) refers to a simulated computer-generated experience, which enables interactions between the real and artificial 3-dimensional (3D) environments. It involves the usage of specific head-mounted goggles along with bodysuits, gloves, display screens, sensors, etc., to generate a realistic experience for the viewer. VR includes combinations of sensory inputs, software, and hardware that work to project images, sounds, and other sensations that simulate the physical presence of the user in the virtual environment. It is utilized across several industries, such as retail, travel, healthcare, aerospace, defense, media, etc.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Global Virtual reality (VR) Market Trends:
The escalating growth of industry 5.0, which refers to the technological trend of people working alongside smart machines and robots, is among the key factors driving the virtual reality market. Additionally, the inflating product adoption in the entertainment and gaming sectors to provide more realistic effects to the gamers is further propelling the market growth. In line with this, sports-based developers are launching sensory equipment for computer-controlled games for real-life gaming experiences, which is augmenting the global market. Moreover, the usage of virtual reality for providing first-hand experiences to beginner drivers to familiarize them with the vehicle is acting as another significant growth-inducing factor. Besides this, numerous technological advancements, including the launch of goggles with 360-degree viewing capabilities and the development of innovative head-mounted displays (HMDs), are also positively influencing the market growth. Furthermore, the increasing demand for VR technologies in architecture for effective planning is anticipated to fuel the virtual reality market over the forecasted period.
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Global Virtual reality (VR) Market 2021-2026 Analysis and Segmentation:
Competitive Landscape with Key Player:
- CyberGlove Systems Inc.
- Eon Reality Inc.
- Google LLC (Alphabet Inc.)
- HTC Corporation
- Microsoft Corporation
- Oculus VR LLC (Facebook Inc.)
- Samsung Electronics Co. Ltd.
- Sixense Enterprises Inc.
- Sony Corporation
- StarVR Corp (Acer Inc.)
- Ultraleap Ltd.
- Unity Software Inc.
Market Breakup by Device Type:
- Head-Mounted Display
- Gesture-Tracking Device
- Projectors and Display Wall
Market Breakup by Technology:
- Semi and Fully Immersive
Market Breakup by Component:
Market Breakup by Application:
- Aerospace and Defense
Market Breakup by Region:
- North America
- Latin America
- Middle East and Africa
Key Highlights of the Report:
- Market Performance (2015-2020)
- Market Outlook (2021- 2026)
- Porter's Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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