Press release
Virtual Reality Headsets Market Revenue, Major Players, Consumer Trends, Analysis & Forecast Till 2028
Virtual Reality Headsets Market
The growing deployment of virtual reality headsets in military, aerospace and defense sector to provide training in a simulated environment so that the trainees can have an experience of the real world situations without actually participating in the field work. This technique helps in improving the training experience provided to the trainees without the risk of any physical harm as well as implementing the use of minimal infrastructure.
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One major factor that may restrict the growth of the market is the health related concerns arising out of the poor quality of visual effects that can put unwanted strain on eyes as well as mental stress.
The market is Asia Pacific projected to grow at the highest CAGR of 23%% in the forecast period. This can be attributed to the proliferation of smartphones and a rise in the level of disposable income of the people in this region. Also, the availability of low cost tethered VR headsets coupled various key strategic alliances among smartphones and virtual reality headset manufacturers with efficient promotion by the smartphone companies is also expected to propel the market demand.
Key participants include Sony Corporation, Google, Samsung Electronics, HTC Corporation, Facebook, Microsoft, Vuzix, Leapmotion, Eon Reality, and LG Electronics Inc.
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For the purpose of this report, Reports and Data have segmented the virtual reality headset market on the basis of type, component and application and region:
Type Outlook (Revenue, USD Billion; 2020-2028)
• Handheld
• Standalone
• Tethered
Component Outlook (Revenue, USD Billion; 2020-2028)
• Head Mounted Display
• Stereo sound System
• Head Motion Tracking Sensor
• Others
Application Outlook (Revenue, USD Billion; 2020-2028)
• Gaming and Entertainment
• Consumer Electronics
• Medical Service
• Automobile
• Military, Aerospace and Defense
• Education
• Others
Regional Outlook (Revenue, USD Billion; 2020-2028)
• North America
• Europe
• Asia Pacific
• Latin America
• MEA
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Further key findings from the report suggest
• The tethered virtual reality headsets with more than 90% of the market share leads the market in the year 2020 and is expected to maintain its dominance throughout the forecast period. This is owing to the proliferation of smartphones and widespread use of smartphones for gaming and entertainment purposes along with lost cost associated with the possession of these headsets in comparison to standalone headsets.
• Standalone headsets are projected to have the highest growth rate throughout the forecast period.
• By components, the head mounted displays are expected to dominate the market in the forecast period due to the proliferation of head mounted displays among gaming and entertainment industry end-user to have an immersive 3D space experience.
• The market for virtual reality headsets in North America is expected to grow at a CAGR of 22.5% during the forecast period. North America dominates the market for virtual reality headsets owing to rising investment in technologies advancement and development, and surging demand by entertainment and advertising industry, education system and military to develop and improve visual experience.
• A new patent from Sony, a leading company in virtual reality headset market, states that the next PlayStation VR (PSVR) headset by the company uses a head-mounted display (HMD) that employs a range of biometric sensors such as a thermometer, eye-tracking cameras, a moisture sensor and exterior orientation sensors to combat virtual reality sickness.
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