Virtual Reality Market Investments and Upcoming Opportunities with Future Trends

Virtual reality has brought a new change to digitalization. It has become easier to experience the real world by setting different environmental conditions. Augmented reality & mixed reality has a wide range of applications. The markets growth increased as the use of augmented reality and mixed reality became popular in driving simulators. The augmented reality and mixed reality provide the driver with a real sense of the road, driving conditions, car manuals and road traffic that helps avoid accidents at an initial stage of learning and prepares the drivers for various situations. These attributes have also led to an increased usage of virtual reality in defense and aerospace. The army personnel used it for training in various conditions such as parachute jumping, submarine, combat situations and driving in various environmental conditions.

Data Bridge Market Research analyzes that the global virtual reality market is expected to reach the value of USD 727,698.36 million by 2029, at a CAGR of 49.4% during the forecast period. The global virtual reality market report also comprehensively covers pricing, patent and technological advancements.

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Drivers

Growing demand for HMD in the gaming and entertainment industry

Head-mounted displays (HMDs) have been high in the gaming and entertainment sector. The gaming industry has had a technological evolution with the emergence of VR and 3D technology. The use of HMDs has helped achieve a fully immersive experience for users and has taken the gaming experience to the next level. The flawless transition conducted with VR HMDs has helped bring in a unique and enhanced user experience. HMDs have a high penetration rate in the video gaming sector and video game users prefer them for enriching experiences and entertainment. HMDs project digital images, enabling a 3D view, which enhances the user experience. Therefore, the growing gaming sector would drive the market for HMDs and, in turn, virtual reality.

Increasing demand for VR technology due to the COVID-19 pandemic

The world is going through different phases of physical lockdown and social get-togethers are still not allowed in most countries. Hence, AR and VR Technology during COVID-19 are emerging as superheroes by enabling people to feel connected to each other. Augmented reality adds digital elements to the physical world and Virtual Reality gives an immersive experience to the viewers. VR devices such as Google Cardboard, HTC Vive, or Oculus Rift transport users to several experience real-world and imaginary environments.

List of Key Players Profiled in the study includes market overview, business strategies, financials, Development activities, Market Share and SWOT analysis:

Some of the major players operating in the global virtual reality market are Sony Corporation, Lenovo, Autodesk Inc., Nintendo, Novint, WorldViz, Inc., Firsthand Technology Inc., Sixense Enterprises Inc., HTC Corporation, FOVE, Inc., Ultraleap, StarVR Corp, Google (A Subsidiary of Alphabet Inc.), Qualcomm Technologies, Inc., Barco, HP Development Company, L.P., Microsoft, SAMSUNG ELECTRONICS CO., LTD., Virtuix, LG Electronics, SKONEC ENTERTAINMENT Co., Ltd., bHaptics Inc., FXGear Inc., Innosimulation, PSICO SMART APPS, S.L., among others.

Recent Developments

In May 2017, SAMSUNG ELECTRONICS CO., LTD. joined hands with Live Nation, X Games and UFC. The new partnership enabled Samsung to broadcast a fully immersive virtual reality experience of various music and sports events through its Gear VR. The new partnership increased the product portfolio of the company
In March 2019, Nintendo announced the launch of Nintendo Labo: VR Kit. The new product integrated the VR technology with the digital gameplay of Nintendo Labo, providing an even enhanced experience to the game players. The new product increased the product portfolio of the company

Against challenges Faced by Industry, Virtual Reality Market Study discusses and shed light on:

- The resulting overview to understand why and how the Global Virtual Reality Market is expected to change.

- Where the Virtual Reality industry is heading and what are the top priorities. To elaborate it, DBMR turned to the manufacturers to draw insights like financial analysis, the survey of Virtual Reality companies, and from interviews with upstream suppliers and downstream buyers and industry experts.

- How Virtual Reality Company in this diverse set of players can best navigate the emerging new industry landscape and develop strategy to gain market position.

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Key Market Segmentation

Component

Hardware
Software

Device Type

Head-Mounted Displays,
Projectors & Display Walls
Gesture-Tracking Devices

Technology

Fully Immersive,
Semi Immersive
Non-Immersive

Vertical

Automotive
Aerospace & Defense
Entertainment & Media
Healthcare
Education
Industrial
Commercial
Others

This comprehensive report provides:

Improve strategic decision making
2. Research, presentation and business plan support
Show emerging market opportunities to focus on
Industry knowledge improvement
It provides the latest information on important market developments.
Develop an informed growth strategy.
Build technical insight
Description of trends to exploit
Strengthen competitor analysis
By providing a risk analysis, you can avoid pitfalls that other companies may create.
11. Ultimately, you can maximize your company's profitability.

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About Data Bridge Market Research, Private Ltd

Data Bridge Market Research Pvt Ltd is a multinational management consulting firm with offices in India and Canada. As an innovative and neoteric market analysis and advisory company with unmatched durability level and advanced approaches. We are committed to uncover the best consumer prospects and to foster useful knowledge for your company to succeed in the market.

Data Bridge Market Research has over 500 analysts working in different industries. We have catered more than 40% of the fortune 500 companies globally and have a network of more than 5000+ clientele around the globe. Our coverage of industries includes

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