Virtual Reality for Consumer Global Market – Overview
The virtual reality for consumer market is anticipated to showcase significant growth. The aspects such as advanced cloud computing and adoption of next generation of virtual reality are the major factors driving the virtual reality consumer market growth in the coming years. The consumers are widely adopting online applications which comprise of virtual reality technology for different purposes such as travelling, entertainment, events, and others. According to a recent study report published by the Market Research Future, the global market of virtual reality for consumer is booming and expected to gain prominence over the forecast period. The market is projected to demonstrate a spectacular growth by 2022, surpassing its previous growth records in terms of value with a striking CAGR during the anticipated period (2016 – 2022).
The decline in price of consumer headsets is anticipated to spur the virtual reality for consumer market. The virtual reality technology will be beneficial to many industries that adopt VR and mixed reality for business operations such as internal operations, managing supply chains, and supporting customers. Major industry vertical includes commercial real estate management, automotive, public safety, education and training. Of these, the education and training segment is expected to be the fastest growing.
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Some of the prominent players in the global virtual reality for consumer market: Alibaba Group Holding Limited (China), AltspaceVR (U.S.), Amazon.com, Inc. (U.S.), Binary VR Inc. (U.S.), Bitmovin (Austria), Facebook, Inc. (U.S.), Google LLC (U.S.), HTC Corporation (Taiwan), Leap Motion, Inc. (U.S.), Microsoft Corporation (U.S), nDreams, Ltd. (U.S.), NextVR, Inc. (U.S.), Nvidia Corporation (U.S.), Pixvana, Inc. (U.S.), and Sony Corporation (Japan) among others.
Virtual Reality for Consumer Global Market – Segmentation
The global Virtual Reality For Consumer Market is segmented into component, technology, deployment application, stimulations, and region. The components are segmented as hardware (head-mounted displays, VR accessories), software and solutions. The technology is segmented into 3D audio, 3D depth sensors, 4K and 8K video, adaptive streaming, computer vision and others. The stimulations are segmented into gesture control, hand tracking, optical tracking, positional tracking and others. The market is spanned across regions including North America, Europe, Asia Pacific, and rest of the world.
August 9, 2016 – Alibaba Cloud, is named as the cloud computing arm of Alibaba Group, has announced its strategic partnership with HTC Corporation (‘HTC’). Both the companies joined hands to provide highly scalable and price-competitive virtual reality (“VR”) solutions for customers worldwide.
Oct 3, 2017 – Microsoft has acquired social VR app named AltspaceVR. This application facilitate users across headset and web platforms to join 3D chat rooms to play games, watch videos and attend events.
Virtual Reality for Consumer Global Market – Regional Analysis
The market is spanned across regions including North America, Europe, Asia Pacific, and rest of the world. North America is one of the leading region across the world in terms of market share. The virtual reality for consumer market in this region has huge demand as these virtual reality technology with eye tracking, foveated rendering, frame tearing and others are widely used in providing virtual reality for consumer solution. The virtual reality for consumer market in Europe region is expected to witness rapid growth in the forthcoming period. Whereas, Asia Pacific countries such as China, Japan, and India is an emerging market for virtual reality for consumer market is expected to be the highest CAGR in the coming years.
Virtual Reality for Consumer Global Market – Competitive Analysis
The market of virtual reality for consumer market appears to be highly competitive. To maintain their market position and to drive the market growth, various dynamic and diversified international organizations, domestic organizations and as well as new entrants form a competitive landscape. Market leaders are innovating continuously and increasingly seeking market expansion through various strategic mergers and acquisitions, innovation, increasing investments in research and development and cost-effective product portfolio. Major players are investing on internal R&D and, most of all, in acquiring other firms.
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- Virtual reality for consumer companies
- Virtual reality for consumer providers
- Technical universities
- System integrators
- Managed Security Service Providers
- Professional service providers
- Research and development companies
- Market research and consulting firms
- Solution providers
- Technology standards organizations
- Technology investors
- System Integrators
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