Global Virtual reality (VR) Market Set To Cross USD 26.89 Billion by 2022

With the presence of a large pool of participants, the global virtual reality (VR) market is displaying a highly competitive business landscape, finds a new research report by Zion Market Research (ZMR). Oculus VR LLC, Sony Corporation, HTC Corporation, and Samsung Electronics Company Limited are some of the key vendors of virtual reality across the world. These players across virtual reality (VR) market are focusing aggressively on innovation, as well as on including advanced technologies in their existing products. Over the coming years, they are also expected to take up partnerships and mergers and acquisitions as their key strategy for business development, states the virtual reality (VR) market study.

Citing an instance, in August 30th 2018, BigBasket, an Indian based supermarket grocery supplies private limited, decided to introduce virtual reality (VR) store on its app.

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As estimated in this report, the global virtual reality (VR) market stood at US$ 2.02 billion in 2016. Witnessing a tremendous rise during the period from 2017 to 2022, the revenue in this market is expected to reach US$ 26.89 billion by the end of the forecast period. The main types available in this virtual reality (VR) market are head-mounted display, gesture control devices, and projectors & displays walls. Among the three, the demand for head-mounted displays is relatively higher and the trend is anticipated to remain so over the next few years, notes the research report.

Massive VR Applications Across Myriad Industries To Spur Growth

“The increasing application of head-mounted displays in the entertainment, retail, healthcare, e-commerce and automotive, gaming sector, will garner the growth for virtual reality (VR) market in the years ahead,” says the author of this study. Apart from this, use of virtual reality for training activities along with its extensive use in mobile phones, tablets, and smartphones to enhance business operations will boost virtual reality (VR) market trends in the future.

Limited user interface (UI) with virtual reality applications, however, is anticipated to inhibit the virtual reality (VR) market growth over the forthcoming years. Nevertheless, high investment by global players in the virtual reality applications is expected to impel the virtual reality (VR) market size in the couple of years, normalizing the impact of hindrances on the virtual reality (VR) market, reports the study.

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Presence of Big Players In The Region Support North American Dominance

Regionally, North America has been leading the worldwide virtual reality (VR) market and is anticipated to continue on the dominant position in the years to come, states the virtual reality (VR) market study. The presence of big players in the countries such as the US is one of the key factors behind the dominance of the North America virtual reality (VR) market. The high number of market players being headquartered in North America is another significant factor that is supporting this regional virtual reality (VR) market.

The global virtual reality (VR) market is segmented as follows:

By Type

Head-Mounted Displays (HMDs)
Gesture Control Devices
Projectors and Display Walls
By Technology

Non-Immersive
Semi-Immersive & Fully Immersive
By Offering

Hardware Components
Sensors
Magnetometers
Accelerometers
Gyroscopes
Proximity Sensors
Image Sensors
Semiconductor Components
Controllers/Processors
Integrated Circuits
Displays
Software Components
Software Developer Kits (SDK)
Cloud-Based Solutions

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By Application

Consumer
Commercial
Aerospace & Defense
Medical
Industrial
Others
By Region

North America
The U.S.
Europe
UK
France
Germany
Asia Pacific
China
Japan
India
Latin America
Brazil
The Middle East and Africa

Read Detailed Index of full Research Study at: https://goo.gl/TeHAkK

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This release was published on openPR.