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Virtual Reality Market by Component (Hardware and Software), By Type (Non-Immersive, Semi- & Fully Immersive), By Device Type (HMDs, Gesture Control Device), By Application (Industry, Consumer, Commercial, Military & Defense) – Global Forecast to 2022
The Global Virtual Reality market Overview:
The virtual reality market is growing rapidly due to increasing adoption of Head-Mounted displays in the entertainment & gaming industry along with decreasing prices of hardware components. The virtual reality market is also supported by the heavy use of virtual reality headsets for training and other applications in the defense industry.
The entertainment and gaming industry is the major source of revenue for the virtual reality market. The increasing demand for virtual reality platform in the healthcare and education sectors is also likely to create a huge impact on the VR market growth.
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The heavy use of virtual technology in various types of games such as PC gaming, Smartphone, and tablets, gaming consoles among others are also likely to drive the VR market for the consumer application. The growing no. of mobile devices with high end operating systems is increasing the demand for mobile VR that in –turn is supporting the virtual reality market.
The Virtual Reality Market is expected to reach $ 120 billion by 2022, at a CAGR of 52% between 2016 and 2022.
Global Virtual Reality Market Forecast
However, the high device cost, low mobility and lack of awareness among users are some of the factors which are hindering the growth of the virtual reality market.
Segmentation of Virtual Reality market:
The Virtual Reality market has been segmented into major four categories that include Component, Type, Device type and Application. On the basis of component into hardware & software. On the basis of Type into Non-Immersive, Semi- & Fully Immersive. On the Basis of Device Type into Head-Mounted Display, Gesture Control Device among others.
On the basis of Application into Industry, Consumer, Commercial, Military & Defense among others. Geographical the market has been segmented into four regions that include North-America, Europe, Asia-Pacific and rest of the world (ROW).
Major key players in virtual reality market include Facebook, Inc. (U.S.), Google Inc. (U.S.), Microsoft Corporation (U.S.), Samsung Electronics Co., Ltd. (South Korea), HTC Corporation (Taiwan), Sony Corporation (Japan), , EON Reality Inc. (U.S.), Vuzix Corporation (U.S.),Magic Leap (U.S.), CyberGlove Systems Inc. (U.S.), among others.
The North-America is expected to lead the virtual reality market due to the presence of several major key players and increasing investment in this region. The market is also growing in Asia-pacific due to increasing demand of HMDs in Entertainment & Gaming industry in countries such as Japan and China. The rising economy and growing number of mobile users is also supporting the virtual reality market in this region. The virtual reality market in Europe is increasing due to growing demand in automotive and education industry.
Global Virtual Reality Market Features
Research report provides –
- The in-depth analysis of this market based on the respective segmentation and market size including major geographies & current market trends.
- It offers a comprehensive study of market dynamics, major industry growth, and restraining factors along with forecasting of the market in coming years.
- The Report includes recent development and trends in the global market with detailed competitive landscape and identification of the major key players along with complete value chain analysis.