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Asia-Pacific Virtual Reality Market Size, Share, Trends, Growth, Analysis and Forecast 2025

02-25-2020 01:16 PM CET | IT, New Media & Software

Press release from: Orion Market Research

Asia-Pacific Virtual Reality Market

Asia-Pacific Virtual Reality Market

Asia-Pacific virtual reality market is growing at a CAGR of around 33.7% during the forecast period. Asia-Pacific is considered as the largest market for mobile games, owing to the wide availability of mobile manufacturers and game developers in the emerging economies of the Asia Pacific, particularly in India and China. The VR companies in the region such as Samsung and HTC, the other VR head-mounted display manufacturers, have started developing cell phones integrated with VR technology. Moreover, a rapid penetration from conventional PC-console gaming to mobile gaming through hardcore gamers is expected to propel the growth of Asia-Pacific Virtual reality technology over the forecast period.

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Top Key Players - Apple Inc., Google Inc., HTC Corp., Microsoft Corp., Nvidia Corp., Samsung Electronics Co. Ltd., Sony Corp., Vuzix Corp., Zeiss international

Adoption of high network technologies in the region is another major factor driving the IoT market. According to the white paper published by United Parcel Service (UPS) and the United States' Consumer Technology Association, in 2017, the APAC information and communication technology (ICT) market is mainly augmented by the government support, technological readiness, and urban needs. This has closely aligned to the rapid development of smart cities in the region.

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Rapid technological development has a great effect in the society and it is observable that the different educational institutions are influenced by technology. A lot of countries in the Asia Pacific region really give value to the integration of technology in education. Digitization is enabling SMEs across ASEAN to participate in cross-border trade, allowing them to grow and scale their businesses while reducing costs. Observers say the Asia-Pacific region benefits from its youth. The relatively young population means people are amenable to different work environments and business operations, as well as having a keen interest in using new technology. Thus, this is expected to provide growth to the Asia-Pacific virtual reality market.

Market Segmentation

Asia-Pacific Virtual Reality Market by Component

o Hardware
o Software

Asia-Pacific Virtual Reality Market by System

o Non-immersive VR
o Semi-immersive VR
o Fully-immersive VR

Asia-Pacific Virtual Reality Market by Application

o Entertainment
o Gaming
o Tourism
o Training & Education
o Others (Live Events and Real Estate)

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Media Contact:

Company Name: Orion Market Research
Contact Person: Mr. Anurag Tiwari
Contact no: +1 646-755-7667, +91 7803040404

About Orion Market Research

Orion Market Research (OMR) is a market research and consulting company known for its crisp and concise reports. The company is equipped with an experienced team of analysts and consultants. OMR offers quality syndicated research reports, customized research reports, consulting and other research-based services.

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