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Location-based Virtual Reality Market Share, Size & Industry Growth Report, 2020-2027

04-06-2021 03:19 PM CET | Advertising, Media Consulting, Marketing Research

Press release from: GMI Research

Growth opportunities in the location-based virtual reality market look promising over the next six years. This is mainly due to the increasing investment in VR technology, implementation of VR technology in VR devices, growing advancement and development in VR technology, and the adoption of VR devices for entertainment.

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Location-based Virtual Reality Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)

Key Drivers

The key drivers contributing to the growth of the global location-based virtual reality market are the surging adoption of VR devices for entertainment along with the increasing application of VR technology in VR devices for gaming applications like motion controllers. The growing adoption of VR technology among consumers raises investment in technology and is anticipated to decrease the prices of VR devices and components like joysticks, camera, and VR handset in the near future. All these factors together will boost the market growth over the forecast period. Also, the increasing expenditure power led by the rising disposable income, is strengthening the market share.

The augmenting popularity of 360-degree content is further fuelling the market growth. Expanding innovations in VR technology like 3D, 4D, and 5D, coupled with the development in 360-degree content and VR, are further supporting the growth of the market. However, the huge cost associated with VR content development may hinder the growth of the global location-based virtual reality market.

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Type Segment Drivers

Based on type, the hardware segment is projected to dominate the global location-based virtual reality market over the forecast period. The hardware segment consists of a head-mounted display, head-up display, sensor, camera, and glasses. The head-mounted display is one of the main components of virtual reality headsets and includes liquid crystal on silicon (LCos), cathode ray tubes (CRT), organic light-emitting diodes (OLED), or liquid-crystal displays (LCDs). On the other hand, virtual reality sensor segment is predicted to expand at a higher CAGR during the forecast period attributed to its use in translating movement into a virtual environment and allowing to measure motion and direction in space.
Moreover, the virtual reality sensor helps to achieve the six degrees of freedom, which are three translation movements up/down, forward/back, right/left, and three rotational movements pitch, yaw, and roll.

Regional Drivers

On the basis of region, Asia-pacific is anticipated to grow at a faster CAGR over the forecast period due to the growing adoption of location-based VR devices, which encourage industry players to invest in this region. Also, the increasing investment by local players and advancement in VR related hardware and software is thereby driving the market growth in this region.

Location-based Virtual Reality Market’s leading Manufacturers:

• Sandbox VR, Inc.
• SpringboardVR
• SpaceVR
• Exit Reality Corporation
• VRstudios, Inc.
• Hologate
• Survious, Inc.
• Zero Latency Pty. Ltd.
• IMAX Corporation
• The VOID LLC

Location-based Virtual Reality Market Segmentation:

Segmentation by Type:

• Hardware
o Head-Mounted Display
o Head-up Displays
o Glasses
o Sensor
o Camera
• Software

Segmentation by Application:
• VR Arcades
• VR Theme Parks
• VR Cinemas

Segmentation by Region:

• North America
o United States of America
o Canada

• Asia Pacific
o China
o Japan
o India
o Rest of APAC

• Europe
o United Kingdom
o Germany
o France
o Spain
o Rest of Europe

• RoW
o Brazil
o South Africa
o Saudi Arabia
o UAE
o Rest of the world (remaining countries of the LAMEA region)

Media Contact

Company Name: GMI RESEARCH
Contact Person: Sarah Nash
Email: enquiry@gmiresearch.com
Phone: Europe – +353 1 442 8820; US – +1 860 881 2270
Address: Dublin, Ireland
Website: www.gmiresearch.com

About GMI Research

GMI Research is a market research and consulting company that offers business insights and market research reports for large and small & medium enterprises. Our detailed reports help the clients to make strategic business policies and achieve sustainable growth in the particular market domain. The company's large team of seasoned analysts and industry experts with experience from different regions such as Asia-Pacific, Europe, North America, among others, provides a one-stop solution for the client. Our market research report has in-depth analysis, which includes refined forecasts, a bird's eye view of the competitive landscape, key factors influencing the market growth, and various other market insights to aid companies in making strategic decisions. Featured in the 'Top 20 Most Promising Market Research Consultants' list of Silicon India Magazine in 2018, we at GMI Research are always looking forward to helping our clients to stay ahead of the curve.

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