Press release
Virtual Reality Software Market 2018 by Global Leaders: Microsoft, Blippar, Google, Pixologic, Metaio Gmbh, Qualcomm Incorporated, Oculus VR, WorldViz, Starbreeze Studios, Razer
Market Highlights
Virtual Reality is an artificial environment, based on computer data, which accurately represents the physical aspects and the dynamic behaviour of a model of the real world. Users and engineers are enabled to interact with the objects of the virtual environment using various virtual reality tools. The data helmet, the boom and stereo shutter glass are some well-known VR tools which are in to full or partial immersion in to VR world. The gaming and entertainment industry is demanding for VR headsets (head mounted displays), these VR headsets are widely used in computer games. Therefore the professional gamers are the major driving forces of virtual reality market.
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Key Players
Global Virtual Reality software market holds some of the key players like Google Inc. (U.S.), Microsoft Corporation (U.S.), Blippar Inc. (U.K), Pixologic Inc. (U.S.), Metaio Gmbh (Germany), Qualcomm Incorporated (U.S.), Oculus VR, LLC (U.S.), WorldViz. (U.S.), Starbreeze Studios (Sweden), Razer Inc. (Singapore), HTC Corporation (Taiwan), and BAE Systems AB (Sweden).
Regional Analysis
The competitive landscape of Global Virtual Reality Software Market is formed by major players of the market and some of the new entrants. The virtual reality has driven many areas like Aerospace & Defence, Gaming & Entertainment, Diagnostics & surgeries and many more. North America leads the market for Global Virtual Reality. Many of the technical giants from North America like Facebook, Qualcomm, Google, and Microsoft have already entered virtual reality market. Qualcomm Inc. an American telecommunications equipment company developed a new virtual reality (VR) software development kit (SDK). The new Snapdragon VR SDK is designed to abstract the complexity of immersive virtual reality and provide developers with access to optimized, advanced VR features, to simplify development and to help them attain improved VR performance and power efficiency with the Snapdragon 820 for Android smartphones and upcoming VR headsets. Europe has the potential to become a leading region in the VR market. In February 2017, LucidWeb, a Belgian VR and WebVR consulting and development agency partnered with Silicon Valley-based venture firm named The Venture Reality Fund and started working together to capture the European market. Chinese tech companies have already carved out their own niche in the VR space, creating their own eco-systems, demand, content, platforms and more – to cater to their domestic market. One such company is Superb Medical Skills. The company has developed China's first VR "live" surgery application, supported by more than 3,700 practitioners from all over the country to deliver clinical training to both doctors and trainees through VR headsets.
The growth in VR market is being supported by various factors that include the high demand of virtual reality for training purposes in defence sector, demand for VR headsets in medical sector to train students for surgery, and other operations. Though virtual reality is becoming a boom in the market, but factors such as technical complexity, compatibility issues and high cost are limiting the overall growth of the market.
For the purpose of this study the market for virtual reality market is divided in to type (3D Modelling Software, 360 Degree Custom VR Software, Real time simulation), by Deployment (On-Premise, Cloud), by application (Aerospace & Defence, Gaming & Entertainment, Diagnostics & Surgeries, Tourism, Others) and by region.
Industry Segments
The virtual reality market is divided by deployment into on-premise, cloud. By applications the categorization includes aerospace & defense, gaming & entertainment, diagnostics & surgeries, tourism, others. On the basis of type the market finds itself divided into 3D modelling software, 360 degree custom VR software, and real time simulation in which 3D modelling software is shaping the demand trends of the market. Finally by region into Europe, North America, APAC and Rest of the World.
Competitive Analysis
A trend of volume-driven growth has been witnessed in the market of late with the development of different varieties of product types. The sector is undergoing considerable transformation which has accelerated the growth pace of the sector. The industry players in the segment are efficiently utilizing their primary resources to initiate long lasting growth changes. The best long-term growth opportunities for this sector can be harnessed by ensuring ongoing process improvements and maintaining financial flexibility to invest in the optimal strategies. Conversely, with companies aiming to capture a considerable share of the market segment as early as possible, experimentation with various advantage points is being seriously considered and implemented.
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Intended Audience
• Software Developers
• Testing
• Military personnel
• Hospitals
• Entertainment
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