Global Virtual Reality Market 2019-2024
The virtual reality, as the term suggests, is a near reality experience that is not real in nature. Virtual reality gives both audio and visual experience virtually. Virtual reality devices are used very often to watch movies, for virtual shopping, virtual gaming experience, etc. The virtual reality devices also give 3D experience to users. The virtual reality is designed in a way that the viewers can have a 360-degree view of unknown places. The virtual reality systems are available in different types, but the features are almost the same.
Many viewers prefer to watch movies, sports, etc on virtual reality systems as these systems provide users with an experience of being present in the scene. Virtual reality devices give a very thrilling experience as compared to traditional TVs, theatres, etc. The innovation in the technology field laid down the foundation for virtual reality systems. Few services of Virtual reality systems need internet while few services don’t, which is why the virtual reality systems are considered versatile. The demand for virtual reality systems is increasing. Many companies are entering the virtual reality market to meet consumer demands.
The Global Virtual Reality Market report provides insight into the opportunities and challenges encountered by market participants, services, current trends in the market, and other necessary aspects that may affect the growth of the virtual reality market. The report also discusses the scope for growth, market drivers, key regions for growth, etc in the virtual reality market based on historical data available till the period 2018. The report divides the market into segments based on components, devices, and end-users. The report predicts the future trends and scope in the market for the prediction period 2019-2024.
Global virtual reality market is expected to reach USD 58.61 billion in 2024 from USD 1.54 billion in 2016, growing at a CAGR of 57.60 % during the forecast period.
Key Market Players:
• Google Inc.
• Oculus VR LLC
• Sony Corporation
• Samsung Electronics Co. Ltd.
• Microsoft Corporation
• HTC Corporation
• Ziess International
• Vuzix Corporation
• CyberGlove Systems LLC
• Barco NV
• Leap Motion, Inc.
• Cyberith GmbH
• EON Reality Inc.
• Virtalis Limited
• Sixense Entertainment, Inc
• Marxent Labs LLC
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The virtual reality system provides features like 360-degree view and 3D view, which has been the major factor driving the demand for virtual reality system. The competitiveness in the market has compelled the market players to focus on R&D and product innovation practises. In order to get a clear view of the virtual reality market, the market has been segmented into three parts based on components, devices, and end-users. The component segment includes Hardware and Software. The devices segment includes Head Mounted Display (HMD), Gesture Tracking Devices (GTD), Projectors & Display Walls (PDW), and Wearable Glasses. The end-user segment includes Gaming & Entertainment, Healthcare, Consumer Electronics, Manufacturing, and Aerospace & Defense industries.
The market report on the virtual reality market provides a detailed analysis of the market at regional and global levels. The report comes with well-researched data on virtual reality. The report provides an in-depth analysis of the market size, market revenue and scope, market share, and other important factors in the virtual reality market. The report also discusses the growth opportunities, consumption rate, key market players and strategies used by them, etc in the virtual reality market based on regions. The report analyzes the regions of Latin America, where Brazil, Mexico, and Rest of Latin America are the main areas of focus. The report also covers North America, where the U.S. and Canada are potential regions for market growth. The report additionally, covers Asia-Pacific, Europe, MEA and other key areas for growth present in these regions.
Apple, a global tech company has announced its plans to launch AR and VR gaming headsets and glasses. There are about 1000 engineers working for the development of the product. The device will have a 3d sensor system. Apple estimates the AR and VR product to be released by 2021 or 2022.
Table of Contents:
1. Executive Summary
2. Research Methodology
3. Regional Opportunity Analysis on the basis of Competitors
4. Global Virtual Reality Market (USD Billion) and Forecast Analysis, 2016-2024
5. Market Dynamics: Growth Drivers, Restraints and Opportunities
6. Global Virtual Reality Market Segmentation
7. Competitive Outlook
8. Porter’s Five Force Model
9. Market Landscape: Competition and Beyond
10. Market outlook for business players and entry level players to ascertain their business in dynamic ecosystem
11. Expert Analysis
12. Concluding Remarks
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