Research Nester Reviews Global Virtual Reality Market Likely to Grow at a CAGR of 42.8% during Forecast Period

The global virtual reality market is segmented into devices such as head mounted display, gesture tracking device, projector and others. Among these segments, head mounted display segment is expected to occupy the largest market share in virtual reality market during the forecast period. Continuous decline in the price and growing popularity of head mounted display among people is expected to impel the demand for head mounted display device in the upcoming years. Apart from this, growing utilization of head mounted displays in various industries is anticipated to positively impact the growth of the global head mounted display market.

Global virtual reality market is expected to flourish at a CAGR of 42.8% over the forecast period. Increasing numbers of gamers, growing sales of smartphones and rising consumer spending on are expected to spearhead current and future market growth of virtual reality. Further, growing industrial application of virtual reality signals promising growth of the market during the forecast period.

North America captured highest percentage of market share in overall virtual reality market in 2016. Further, North America is expected to continue its dominance over the forecast period. Factors such as high adoption rate of advanced technology and increasing utilization in healthcare are expected to foster the growth of the market. U.S. is the major contributor to the growth of the global virtual reality market. Asia Pacific is anticipated to showcase lucrative growth over the forecast period. Growing adoption of virtual reality for entertainment purposes and increasing disposable income are some of the factors which are expected to impel the growth of the Asia Pacific virtual reality market.

Rising Demand for Virtual Reality Devices

Increasing numbers of gamers across the globe are impelling the growth of gaming industry which in turn, is anticipated to drive the demand for virtual reality devices. Apart from this, the market is also poised to benefit from growing adoption of head mounted displays for entertainment application.

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Technological Advancement & Development

Technological advancements in VR devices such as 3D view, lightweight display and better image quality are expanding the application of virtual reality in various sectors. Furthermore, wide scale application of virtual reality in engineering & design, medical, gaming and military is anticipated to aid the growth of virtual reality market during the forecast period.

Although, health concerns related to low resolution and low adoption rate in undeveloped nations are some of the factors that are likely to inhibit the growth of the global virtual reality market in the near future.
The report titled “Virtual Reality Market: Global Demand, Growth Analysis & Opportunity Outlook 2021” delivers detailed overview of the global virtual reality market in terms of market segmentation by hardware, by software, by devices, by immersion, by end-user and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.

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This report also provides the existing competitive scenario of some of the key players of the global virtual reality market which includes company profiling of HTC Corporation, Samsung Electronics Co., Microsoft Corporation, EON Reality Inc., Firsthand Technology Inc., Philips Healthcare, Google Inc., Marxent Labs LLC, Oculus VR, LLC and Dell Technologies Inc. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global virtual reality market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.

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Research Nester is a leading service provider for strategic market research and consulting. We aim to provide unbiased, unparalleled market insights and industry analysis to help industries, conglomerates and executives to take wise decisions for their future marketing strategy, expansion and investment etc. We believe every business can expand to its new horizon, provided a right guidance at a right time is available through strategic minds. Our out of box thinking helps our clients to take wise decision so as to avoid future uncertainties.

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