Virtual Reality Market to Grow at 24.6% During 2023-2028
Competitive Landscape with Key Players:
• CyberGlove Systems Inc
• Eon Reality Inc
• Google LLC (Alphabet Inc.)
• HTC Corporation
• Microsoft Corporation
• Oculus VR LLC (Facebook Inc.)
• Samsung Electronics Co. Ltd.
• Sixense Enterprises Inc.
• Sony Corporation
• StarVR Corp (Acer Inc.)
• Ultraleap Ltd.
• Unity Software Inc
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The global market is primarily driven by the escalating demand for VR games and consoles in the gaming industry. This can be attributed to the rising number of individuals taking up gaming as a profession. In line with this, the rapid utilization of VR in the design and construction of automobiles at the concept stage is resulting in a higher product uptake. Besides this, the emerging trend of virtual tour of popular tourist spots, monuments, and even hotels and restaurants are also propelling the market demand. Moreover, the growing usage of VR applications in the architecture and planning sector for visualizing suggested urban designs, architectural plans and early detection of faults is fueling the market.
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Continual technological advancements, such as CMOS/OLED micro-displays in VR displays is resulting in an augmented demand for VR HMDs, which in turn, is driving the market. The market is further propelled by the increasing adoption of VR exposure therapy in the healthcare sector for the treatment of mental health disorders. Some of the other factors contributing to the market include the increasing demand for virtual reality in pilot training, rapid urbanization and digitization, considerable growth in the information technology (IT) industry, inflating disposable income levels, continual product innovations, and extensive research and development (R&D) activities conducted by the key players.
Key Market Segmentation:
Breakup by Device Type:
• Head-Mounted Display
• Gesture-Tracking Device
• Projectors and Display Wall
Breakup by Technology:
• Semi and Fully Immersive
Breakup by Component:
Breakup by Application:
• Aerospace and Defense
Breakup by Region:
• North America
• Latin America
• Middle East and Africa
Key Highlights of the Report:
• Market Performance
• Market Outlook
• Porter's Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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