Press release
Virtual Reality Market Globally Grow at a CAGR of 53.3% by 2026 | Top Key Vendors – Zappar, Virtuix, Total Immersion, Sphero, Sony Corporation, Samsung Electronics, Qualcomm Technologies, Nintendo
Global Virtual Reality Market HighlightsGlobal Virtual Reality Market is accounted for $4.52 billion in 2017 and is expected to reach $212.06 billion by 2026 growing at a CAGR of 53.3% from 2017 to 2026. Rising demand for the use of head-mounted displays in the gaming & entertainment sector, decrease in production costs of display devices, increase in demand for immersive virtual reality and use of VR for training and simulation in the defense sector are some key factors fueling the market growth. However, factors such as high cost of devices and lack of technical expertise are restraining the growth of Market.
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Virtual Reality (VR) is transforming the way we relate with the objects and environment around us. Virtual presents a 3D computer generated environment which a person can explore and interact with and the person becomes a part of the near-reality world. Virtual reality is gaining popularity across various sectors such as healthcare, entertainment, real-estate, education, etc. Virtual Reality is being used to offer training to doctors and employees to avoid any mistakes. Digital meetings and conferences in a real-time are becoming possible with Virtual Reality. It is making it more expedient for architects to evaluate designs and see how the structure will look in real.
Top Players:
Some of the key players in Virtual Reality market include Zappar Ltd, Virtuix, Total Immersion, Inc., Sphero, Sony Corporation, Samsung Electronics Co. Ltd, Qualcomm Technologies, Inc., Nintendo Co., Ltd, ,Microsoft Corporation, Meta Inc., Marxent Lab LLC, Layar (Blippar Group), Improbable, Holition, Hewlett-Packard Development Company. L.P, Gravity Jack, Google Inc., Facebook Inc., Blippar, Atheer, Inc. and Apple Inc.
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Market Segmentation:
Amongst Application, Gaming & Entertainment segment held significant market share during the forecast period due to the high penetration of this sector in the gaming industry. In addition, the penetration of head-mounted displays in the gaming and entertainment industries is driving the market growth. By geography, North America dominated the market due to the growth in IT infrastructure and the rise in penetration of smartphones is. Wide research and development activities and presence of key market players, especially in the U.S. are also contributing to the growth of the market in North America.
Technologies Covered:
• Semi-Immersive & Fully Immersive Technologies
• Non-Immersive Technology
Applications Covered:
• Advertising & Marketing
• Commerce
• Design and Engineering
• Education
• Energy and Utilities
• Entertainment and Gaming
• Logistics
• Medical and Healthcare
Components Covered:
• Software Components and Services
• Hardware Components
• Semiconductor Components
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