What's driving the Virtual Reality Market Growth? Prominent Players: Google, Microsoft, Oculus VR (Facebook), Autodesk Inc., Samsung Electronics, HTC, Eon Reality, Vuzix, Sony, Leap Motion, Vuzix, Sixense Enterprises, Dassault Systems SE, Lenovo Group Ltd

The global virtual reality market is anticipated to reach USD 120.5 Bn by 2026, as against USD 7.3 Bn in 2018. Virtual reality or VR is advancing at a fast pace. The advent of virtual reality technology has transformed the way we live, work, and socialize. Both virtual reality and augmented reality possess the potential to transform the world. As people are eager to learn and grow, virtual reality plays a significant role in learning and development. From entertainment to education & training and travel, virtual reality offers a real-time experience to its users at a reasonable price. "Virtual reality" is gradually paving its way into the automotive sector. Besides the integration of voice assistants, vehicles nowadays come integrated with several advanced features to offer improved driver safety. Spurred by these factors, the global virtual reality market share is expected to increase considerably in the near future.

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The report profiles some of the leading players in the global virtual reality market. These include:

o Google
o Microsoft
o Oculus VR (Facebook)
o Autodesk Inc.
o Samsung Electronics
o HTC
o Eon Reality
o Vuzix
o Sony
o Leap Motion
o Vuzix
o Sixense Enterprises
o Dassault Systems SE
o Lenovo Group Ltd.
o Magic Leap, Inc.

Fortune Business Insights in a report, titled "Virtual Reality Market Size, Share and Global Trend By Offering (Hardware, Software), By Technology (Nonimmersive, Semi-Immersive), By Industry Vertical (Gaming & Entertainment Media, Healthcare, Education, Automotive, Aerospace & Defense, Manufacturing), By Application (Training & Simulation, Educational, Attraction, Research & Development) and Geography Forecast till 2026" studies growth opportunities and threats prevalent in the market. As per the report, the global market is likely to report a stellar CAGR of 42.2% between and 2026. Virtual reality has the ability to stimulate the environment via head-mounted displays, helping a user to interact and explore. Growing technological advancements in virtual reality are likely to generate plenty of VR solutions, allowing real-time experience to customers. This, in turn, is expected to drive the virtual reality market growth in the forthcoming years.

Market Landscape and Market Scenario Includes:

o Current market size estimate
o Revenues by players Top Companies
o Market size by product categories
o Market size by regions/country

Other Than Gaming & Media, Virtual Reality to Penetrate into Healthcare, Education, and Other Sectors

The demand for virtual reality applications is increasing in healthcare, gaming & entertainment media, automotive, manufacturing, and other industries. Of these, gaming and entertainment media covers a 40.5% of the global virtual reality market share. The adoption of virtual reality technology is likely to increase in the education and healthcare industry, thus boosting the virtual reality market size. The technology can be used for providing training, monitoring patients, and practicing surgeries. As per research studies, virtual reality is expected to be the future of online learning. For instance, an education technology start-up called 3rdFlix raised around USD 5 million from Exfinity Ventures to create a live learning experience. With the rising awareness about virtual reality, the adoption of concept leaning among students is increasing.

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Important Features that are under Offering and Key Highlights of the Market Report:

o Detailed overview of Market Share
o Changing market dynamics of the industry
o In-depth market segmentation by Type, Application, etc.
o Historical, current and projected market size in terms of volume and value
o Recent industry trends and developments
o Competitive landscape of Market
o Strategies of key players and product offerings
o Potential and niche segments/regions exhibiting promising market growth

As per technology, companies plan to invest in semi-immersive technology than non-immersive with am aim to create a better user experience. Owing to the rising investments and research and development activities, the software segment is expected to be on the rise whereas hardware witnessed a steady rise.

Segmentation

1. By Offering
o Hardware
o Software
2. By Technology
o Nonimmersive
o Semi-Immersive
3. By Industry Vertical
o Gaming & Entertainment Media
o Healthcare
o Education
o Automotive
o Aerospace & Defense
o Manufacturing
o Other
4. By Application
o Training & Simulation
o Educational
o Attraction
o Research & Development
o Others (3D prototyping, modelling, etc.)
5. By Region
o North America (S. and Canada)
o Europe (UK, Germany, France, and Rest of Europe)
o Asia Pacific (Japan, China, India, Southeast Asia and Rest of Asia Pacific)
o Latin America (Brazil, Mexico and Rest of Latin America)
o Middle East & Africa (South Africa, GCC and Rest of the Middle East & Africa)

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Google and Apple Focussing on R&D to Innovate the Virtual Reality Market in North America
North America covers 40% of the share in the global virtual reality market and is leading the market. US giants such as Facebook, Google, and Apple continue to focus on research and development (R&D) activities for software and hardware to further stimulate the virtual reality market share. The growth in this region is mainly attributable to the increased funding in start-ups, making the market dynamic.

The market in Europe is projected to hold a quarter share in the forecast years. Countries such as France, Germany, and France are the major contributors to the market. Apart from North America and Europe, the market is expected to rise in other regions such as Asia Pacific, Latin America, and the Middle East & Africa.

Queries Addressed In Market Report:

o What opportunities are present for the market players to enhance their business footprint?
o What manufacturing techniques are being implemented in the development of advanced Construction Equipment?
o Which segment is witnessing huge traction from the consumers?
o For what purposes, is the market being utilized?
o How many units are estimated to be sold in 2020?

Over 70% of the Players have their Dominance in North America

Of these, companies such as Facebook, Google, Microsoft, HTC, Autodesk, Leap Motion, 3D, Sixense Enterprise, Dassault Systems, and Eon reality are responsible for the surge in the virtual reality market revenue. Moreover, over 70% of these players have their dominance in North America. Recently Dassault Systems offered help to the students of the University of Switzerland by making them aware of the latest technologies and industrial process. With the help of virtual reality, the company helped more than 700 engineering students and made them aware of ENOVIA for collaboration, CATIA for multi-disciplinary systems design and documentation, 3DEXCITE for high-end 3D visualization, and DELMIA for manufacturing simulation and robotics. Companies are increasibgly investing in virtual reality technology to stay ahead of competition. Some of the recent industry developments are mentioned below:
June 2018: A virtual reality headset called Oculus Go was launched in Canada and UK. It is now available at reasonably affordable prices.
May 2019: Ultrahaptics announced the acquisition of a hand-tracking headset maker called Leap Motion to strengthen its market position
August 2019: Sony Interactive Entertainment patented a virtual reality device combating eye-tracking and other simulation sicknesses.

Key Features of Market Research Report:

o This report provides detail analysis of the Virtual Reality market and have a comprehensive understanding of the market and its commercial landscape.
o Learn about the various Virtual Reality market strategies that are being adopted by leading companies.
o It provides a five-year forecast assessed based on how the market is predicted to grow.
o It provides insightful analysis of changing competition dynamics and keeps you ahead of competitors.
o To understand the future scope and outlooks for the Virtual Reality market.
o Market Forecast by regions, type and application, with sales and revenue, from 2020 to 2026.
o Market Share, distributors, major suppliers, changing price patterns and the supply chain of raw materials is highlighted in the report.
o Market Size (sales, revenue) forecast by regions and countries from 2020 to 2023 of industry.
o The global Virtual Reality market Growth is anticipated to rise at a considerable rate during the forecast period, between 2020 and 2023. In 2020, the market was growing at a steady rate and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon.
o Market Trend for Development and marketing channels are analysed. Finally, the feasibility of new investment projects is assessed and overall research conclusions offered.
o Virtual Reality Market Report also mentions market share accrued by each product in the market, along with the production growth.

Lastly, this report covers the market landscape and its growth prospects over the coming years, the Report also brief deals with the product life cycle, comparing it to the relevant products from across industries that had already been commercialized details the potential for various applications, discussing about recent product innovations and gives an overview on potential regional market shares.

For more information in the analysis of this report, visit https://www.fortunebusinessinsights.com/industry-reports/virtual-reality-market-101378

Table of Content

6. North America Virtual Reality Market Analysis, Insights and Forecast, 2015-2026
6.1. Key Findings / Summary
6.2. Market Size Estimates and Forecasts
6.2.1. By Offering (Value)
6.2.2. By Technology (Value)
6.2.3. By Industry Vertical (Value)
6.2.3.1. Gaming & Entertainment Media
6.2.3.2. Healthcare
6.2.3.3. Education
6.2.3.4. Automotive
6.2.3.5. Aerospace & Defense
6.2.3.6. Manufacturing
6.2.3.7. Other
7. Europe Virtual Reality Market Analysis, Insights and Forecast, 2015-2026
7.1. Key Findings / Summary
7.2. Market Size Estimates and Forecasts
7.2.1. By Offering (Value)
7.2.1.1. Hardware
8. Asia Pacific Virtual Reality Market Analysis, Insights and Forecast, 2015-2026
8.1. Key Findings / Summary
8.2. Market Size Estimates and Forecasts
8.2.1. By Offering (Value)
8.2.1.1. Hardware
8.2.1.2. Software
8.2.2. By Technology (Value)
8.2.2.1. Nonimmersive
TOC Continued...!

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