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Virtual Reality Devices Global Market Worth $25.57 Billion By 2028 With CAGR of 13.8% | Key Players: Google, Sony Corporation, Samsung Electronics Co.Ltd., Oculus VR LLC, Marxent Labs
Virtual Reality Devices Market
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the Virtual Reality Devices industry. This report on Virtual Reality Devices market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The virtual reality devices market size has grown rapidly in recent years. It will grow from $13 billion in 2023 to $15.22 billion in 2024 at a compound annual growth rate (CAGR) of 17.1%. The growth in the historic period can be attributed to gaming and entertainment, training and simulation, healthcare and therapy, education and training. The virtual reality devices market size is expected to see rapid growth in the next few years. It will grow to $25.57 billion in 2028 at a compound annual growth rate (CAGR) of 13.8%.
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Key Market Players:
Google, Sony Corporation, Samsung Electronics Co.Ltd., Oculus VR LLC, Marxent Labs, Microsoft Corporation, HTC Corporation, Lenovo Group Ltd., The Progressive Corporation are prominent players in the Virtual Reality Devices industry.
Market Drivers:
Rising demand for virtual reality devices in changing the traditional way of imparting safety trainings to employees is expected to drive the virtual reality devices market. Virtual Reality provides an effective and safe training environment for the employees in an organization. Traditional training method fail to recreate real time crisis scenarios while VR trainings create the real time crisis scenarios which helps a person to respond in a similar way to that of real time situations, thus providing effective and safe training to staff. It has resulted in fewer mistakes and better information recall than traditional trainings.
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Market segments for Virtual Reality Devices include:
1) By Type: Hand Held Devices, Head Mounted Devices, Gesture Controlled Devices, Other Types
2) By Technology: Semi & Fully Immersive, Non-immersive
3) By Application: Medical & Healthcare, Commercial, Education, Advertising & Marketing, Commerce, Energy & Utilities, Entertainment & Gaming, Designing & Engineering, Logistics, Other Applications
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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