Virtual Reality Market Size Worth USD 43.01 Billion in 2028, Market Trends – Increased demand from gaming & entertainment sector

The global virtual reality market size is expected to reach USD 43.01 Billion in 2028 and register a CAGR of 27.5% during the forecast period

The global virtual reality (VR) market size is expected to reach USD 43.01 Billion at a steady CAGR of 27.5% in 2028, according to latest analysis by Emergen Research. Virtual reality technology and solutions demand is increasing due to surge in usage of head-mounted displays in gaming and entertainment, as well as in the retail sector, which is expected to continue to drive market revenue growth going ahead. Virtual reality provides various benefits such as it allows users to immerse themselves in video games as one of the characters, learn to perform heart surgery virtually, and also enhances the quality of sports training to maximize performance.

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Some Key Highlights From the Report

Semi and fully immersive simulations offer users a realistic experience, complete with sound and sight. This type of virtual reality is common in gaming and other entertainment in virtual reality arcades, or even in the user’s home. Rise in demand for complete immersion in virtual reality will continue to drive revenue growth of the semi and fully immersive segment.

North America virtual reality market accounted for the largest revenue share among other regional markets in 2020 due to rising adoption of the technology in the education system across countries in the region to help students with learning disabilities and autism. Rise in demand for virtual reality technology in the U.S. military for training purposes will also propel market growth going ahead.

Key players in the market include Microsoft, Samsung Electronics, Google, Eon Reality, Sony, Mindmaze, Panasonic Corporation, HTC, Firsthand Technology, and Cyberglove Systems.

The report offers a comprehensive analysis of the competitive landscape of the market through extensive profiling of the key competitors. The section on the competitive analysis covers product portfolio, company overview, production and manufacturing capacity, financial standing, revenue and gross profit margins, and market position. It also sheds light on the mergers and acquisitions, joint ventures, collaborations, and partnerships occurring in the market.

Emergen Research has segmented the global virtual reality market on the basis of offering, technology, device type, application, and region:

  • Offering Outlook (Revenue, USD Billion; 2018–2028)
    • Hardware
      1. Displays and Projectors
      2. Sensors
      3. Cameras
      4. Position Trackers
      5. Semiconductor Components
      6. Others (Computer/video generator and combiner)
    • Software
      1. Cloud-Based Services
      2. Software Development Kits
      3. VR Content Creation
  • Technology Outlook (Revenue, USD Billion; 2018–2028)
    • Non-immersive
    • Semi and Fully Immersive
  • Device Type Outlook (Revenue, USD Billion; 2018–2028)
    • Head-Mounted Displays
    • Projectors and Display Walls
    • Gesture-Tracking Devices
  • Application Outlook (Revenue, USD Billion; 2018–2028)
    • Consumer
      1. Gaming and Entertainment
      2. Sports
    • Commercial
      1. Education and Training
      2. Retail and Ecommerce
      3. Advertising
      4. Travel and Tourism
    • Enterprise
    • Healthcare
      1. Patient Care Management
      2. Surgery
      3. Pharmacy Management
      4. Fitness Management
      5. Medical Training and Education
    • Aerospace & Defense
    • Others
      1. Automotive
      2. Geospatial Mining
      3. Real Estate (Architecture and Building Design)

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Comprehensive Regional Analysis Covers the Following Regions:

  • North America (U.S., Canada, Mexico)
  • Europe (U.K., Italy, Germany, France, Rest of EU)
  • Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
  • Latin America (Chile, Brazil, Argentina, Rest of Latin America)
  • Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

Key Coverage of the Virtual Reality Market:

  • Insightful information regarding the global Virtual Reality market
  • Identification of growth in various segments and sub-segments of the Virtual Reality market
  • Strategic recommendations for investment opportunities
  • The report covers significant statistics related to the industry along with products, applications, price analysis, demand & supply, and production and consumptions rate
  • Emerging trends and current market segment analysis to help investors formulate new business strategies
  • Accelerates the decision-making process through the availability of the drivers and limitations

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