Virtual Reality (VR) Market 2021 Net Worth is US$ 84.09 billion and Forecasts by 2028 | With Top Key Players : Crytek GmbH, Eon Reality Inc., HTC Corporation, Oculus Rift (Facebook Inc.), Pico Interactive Inc.....

Virtual Reality (VR) Market 2021-2028

New study report " Virtual Reality (VR) Market 2021 Global Market Opportunities, Challenges, Strategies, and Forecasts 2028" has been added to Fortune Business Insights.

Market Overview-

The global virtual reality (VR) market size is expected to reach USD 84.09 billion by 2028, exhibiting a CAGR of 44.8% during the forecast period. The technological innovations in 5G technology and adoption of immersive technologies can have a tremendous impact on the market growth in the forthcoming years, states Fortune Business Insights, “Virtual Reality (VR) Market, 2021-2028.” The market size stood at USD 4.42 billion in 2020.

COVID-19 Impact:

Businesses such as automotive, manufacturing, aerospace and defense, education, and others are using technology to meet business needs during the global pandemic. The virtual simulators assist in the design and planning of the product from a distance. VR is gaining popularity in the education sector as a result of the epidemic. Virtual technology is being used by people all over the world to better their health and well-being, entertainment, live events, virtual conferences, and meetings, especially during the pandemic. For example, in April 2020, rapper Travis Scott joined the virtual reality platform and received over 12 million views on his Fortnite video game.

Top Key Players in this market are:

Crytek GmbH (Frankfurt, Germany)
Eon Reality Inc. (California, U.S.)
HTC Corporation (Taoyuan City, Taiwan)
Oculus Rift (Facebook Inc.) (California, U.S.)
Pico Interactive Inc. (California, U.S.)
Sensics, Inc. (Maryland, U.S.)
Sixense Enterprises Inc. (California, U.S.)
StarVR Corporation (Taipei, Taiwan)
Ultraleap Ltd. (Bristol, England)
Unity Technologies (California, U.S.)
Survios, Inc. (California, U.S.)


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Competitive Landscape-

Key Players Focus on Advanced Virtual Solutions to Consolidate Position

HTC Corporation, Oculus VR, Sony Corporation, and Lenovo Group are all heavily investing in developing innovative head-mounted devices. To grow their consumer base, the players are making smart acquisitions and collaborations. In addition, prominent firms are providing industry-specific materials and tools to broaden their commercial horizons. For instance, in March 2021, a Taiwanese consumer electronics company headquartered in Xindian District, New Taipei City, Taiwan, announced the release of VIVE Facial Tracker and VIVE Tracker (3.0) to improve their virtual reality ecosystem with advanced innovation.

Segmentation-

Based on components, the market is classified into hardware, software, and content. The hardware segment is expected to dominate the global market share during the forecast period.

Based on device type, the market is divided into Head-Mounted Display (HMD), VR simulator, VR glasses, treadmills & haptic gloves, and others.

Based on industries, the market is segmented into gaming, entertainment, automotive, retail, healthcare, education, aerospace & defense, manufacturing, and others.

Geographically, the market is classified into five major regions: North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America.

Regional Insights-

Rising Investments Mixed Reality Training Sessions to Propel Market in North America

The VR market share is likely to be dominated by North America. The region's market expansion is being fueled by the presence of major players in the country. Various start-ups are also making inroads into the US market, offering industry-specific solutions. For example, Sixense Enterprises Inc., a California-based small business, unveiled a virtual reality-based physical rehabilitation system in October 2020. The United States government is also investing in virtual technology, which is expected to enhance the sector. The US government and army, for example, have committed $11 billion in virtual, augmented, and mixed reality training sessions for government workers. Europe is expected to experience a rapid growth rate during the forecast period. The growth is attributed to the rising adoption of virtual solutions in the automotive industry.

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What does the Report Include?

The market report includes a detailed assessment of various growth drivers and restraints,

opportunities, and challenges that the market will face during the projected horizon. Additionally, the report provides comprehensive research into the regional developments of the market, affecting its growth during the forecast period. It includes information sourced from the advice of expert professionals from the industry by our research analysts using several methodologies. The competitive landscape offers further detailed insights into strategies such as product launches, partnerships, mergers and acquisitions, and collaborations adopted by the companies to maintain the market stronghold between 2021 and 2028.

Table Of Content:

Introduction
Key Takeaways
Market Dynamics
Competition Landscape
Global Virtual Reality (VR) Key Players Market Share Insights and Analysis, 2020
Key Market Insights and Strategic Recommendations
Companies Profiled (Covered for key 10 players only)
Annexure / Appendix
Continue….

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