Virtual Reality Market 2021: Future Trends, Key Players: Microsoft (the U.S.), Oculus (the U.S.), Google (the U.S.)

Virtual Reality Market Snapshot:

 The virtual reality market is projected to grow with a CAGR of 28.3% and is projected to reach USD 4 billion by 2029.
The virtual reality market is projected to grow at a promising pace on account of its rising use in business organizations and gaming and media devices. The COVID-19 pandemic has significantly surged the use of VR and entertainment media platforms.

Virtual reality is gaining significant popularity among the millennials, and around 75% of the population is categorized as a youth, further driving the market growth. In the U.S. and U.K., about 90% of the population uses VR in day-to-day tasks. By the end of 2023, the VR gaming segment is anticipated to reach USD 280 billion. Apart from this, VR is extensively used by data-driven organizations and media planners to expand their consumer reach.

The U.S. spearheads North America’s virtual reality market as the country is backed by the presence of leading market players and rapid technological advancements. NEXT/NOW with 65% of service focus towards VR development Groove Jones with more than 50% of service focus towards Virtual Reality business and CemtrexLabs with more than 40% of the focus on the Virtual Reality services from their total capability are improving the dominance of North America in the virtual reality market.

As per Delloitte, nearly 88% of the mid-sized organizations are using VR. The AR market, on the other hand, is projected to generate USD 2 billion by 2022.  In line with this, leading market players are actively working to develop games that work on VR. For instance, for instance, Pokemon Go, a VR game, was downloaded a billion times and is used by 45 million users daily. The recent COVID-19 outbreak has significantly surged the use of VR and the hours spent by gamers. However, the disruption in the supply chain has severely impacted the market growth.

Obtain Brochure For Latest Technology Advancements @ 
https://straitsresearch.com/report/virtual-reality-market/request-sample

The Major Prominent Players Covered in this Report:
Microsoft (the U.S.)
Oculus (the U.S.)
Google (the U.S.)
Samsung Electronics (South Korea)
Sixense Enterprises (the U.S.)
Leap Motion (the U.S.)
Vuzix (the U.S.)

By Type
Bladder Accumulator
Piston Accumulator
Diaphragm Accumulator

By Application
Automobile Industry
Construction and Agricultural
Machinery
Plastics Industry
Marine Industry
Oil and Gas Industry

By Sales Channel
Direct Channel
Indirect Channel

Growing Domestic Demand and Expanding Pharmaceutical Sector to Drive the Demand for Virtual Reality in the APAC Region
Asia-Pacific region is anticipated to hold the largest market share in the global Virtual Reality market during the forecast period 2021-2029. The growth in this region can be attributed to the presence of emerging economies like India, China, Japan, Vietnam, and Indonesia, which account for the largest share in this region. India is one of the largest producers of Virtual Reality and a major exporter of the product to various countries across the globe. India accounts for around 80% of the world’s exports of Virtual Reality. The favorable climatic conditions and growth of agricultural inputs and allied services like cold storage and warehousing in India are prompting higher production.

View this report with a detailed description and TOC @ https://straitsresearch.com/report/virtual-reality-market/toc

Key Questions Answered in The Report:
What will the Virtual Reality market growth rate?
What are the key factors driving the global Virtual Reality market?
Who are the key manufacturers in the Virtual Reality market space?
What are the market opportunities, market risk, and market overview of the Virtual Reality market?
What are sales, revenue, and price analysis of top manufacturers of the Virtual Reality market?
Who are the distributors, traders, and dealers of the Virtual Reality market?
What are the market opportunities and threats faced by the vendors in the global Steerable Medical Devices Industry?
What are sales, revenue, and price analysis by types and applications of the Virtual Reality Industry?
What are sales, revenue, and price analysis by regions of Virtual Reality industry?
What are the driving factors contributing to market growth during the short, medium, and long term?

Key Virtual Reality Market Trends:
- The report identifies, determines, and forecasts the Global Virtual Reality Market segments based on their type, sub-type, technology used, applications, end-users, and regions.
- Industry to Industry Holds Largest Share in the Virtual Reality Market
- It examines the micro-markets based on their growth trends, development patterns, future prospects, and contribution to the overall market.
- Demand from Regional / geographical is Expected to Drive the Growth
- Rising Adoption of Market Segments in this Growth
- North American, Europe is Expected to Witness Higher Growth Rate over the Forecast Period
- It studies the competitive developments such as partnerships and collaborations, mergers and acquisitions (M&A), research and development (R&D) activities, product developments, and expansions in the Global Virtual Reality Market.

Browse Full Report @ 
https://straitsresearch.com/report/virtual-reality-market/

Even if your business is a multinational venture or a single storefront, we believe innovation is the key to progress, in both what you build and how you promote your products and brands.

Buy Full Report with Detail Analysis with COVID-19 Impact – https://straitsresearch.com/buy-now/virtual-reality-market/global/

So let's put our minds together. We'll make your vision a reality and help you grow.

For more details, please contact us -
Straits Research
Email: sales@straitsresearch.com
Address: 825 3rd Avenue, New York, NY 10022
Tel: +1 646 480 7505, +44 208 068 9665
Website: https://straitsresearch.com/

About Us:
Regardless of whether you're looking at business sectors in the next town or crosswise over continents, we understand the significance of being acquainted with what customers purchase. We overcome the issues of our customers by recognizing and deciphering just the target group, while simultaneously generating leads with the highest precision. We seek to collaborate with our customers to deliver a broad spectrum of results through a blend of market and business research approaches. This approach of using various research and analysis strategies enables us to determine greater insights by eliminating the research costs.

This release was published on openPR.