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Virtual Reality Services In Telehealth Drive Growth In The Virtual Reality Services Market: Strategic Insights Driving Virtual Reality Services Market Momentum in 2025
Virtual Reality Services Market
What Will the Virtual Reality Services Industry Market Size Be by 2025?
The market size for virtual reality services has seen swift expansion in the past few years. The market value is estimated to rise from $13.63 billion in 2024 to $15.56 billion in 2025, with a compound annual growth rate (CAGR) of 14.1%. This growth in the historical period is due to factors such as rising demand in entertainment and gaming, corporate use and training, affordability and availability, investments in content creation and the industry, as well as cinematic and media applications.
What's the Long-Term Growth Forecast for the Virtual Reality Services Market Size Through 2029?
In the coming years, the market size for virtual reality services is predicted to experience a swift expansion. By 2029, it's projected to escalate to $25.4 billion, with a compound annual growth rate (CAGR) of 13.0%. The surge during this forecast period is believed to be due to the integration of 5g technology, applications within business and industry, utilization in the healthcare sector and therapy, immersive social interactions, and the incorporation of augmented reality. Key trends expected during this period encompass the application of VR in e-commerce and retail, geographically specific entertainment, experiences in travel and tourism, collaborations across different industries, and virtual social environments.
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What Are the Key Growth Drivers Fueling the Virtual Reality Services Market Expansion?
The expansion of the virtual reality services market is largely influenced by the crucial role it plays in telehealth services. In order to manage the anticipated increase in COVID-19 patients, thousands of medical professionals need to acquire advanced skills which are facilitated by tools powered by virtual reality. These tools help to create a simulated world making them better equipped to handle the situation. Specifically-designed virtual reality training services tailored to scenarios involving coronavirus pathology prove invaluable and realistic, enabling medical students along with doctors and nurses to swiftly put studied principles and procedures into practice. For example, the XRHealth application is an important tool that assists hospitals in treating incoming coronavirus patients undergoing quarantine in hospitals and provides physicians with the ability to track them once they are homebound. Consequently, the escalating need for virtual reality services in the telehealth sector is set to substantially fuel the growth of the virtual reality services market.
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What Are the Key Trends Driving Virtual Reality Services Market Growth?
Virtual reality's application in remote shopping has emerged as a significant trend in the virtual reality services market. The global COVID-19 pandemic has curbed traditional shopping habits due to quarantine measures, but this situation hasn't paused the interaction between e-commerce companies and their customers. Virtual reality has provided new opportunities for businesses to provide unique shopping experiences without hindering their outreach. By leveraging VR services, e-commerce companies can now recreate and redefine the customer shopping experience. For example, an American brand, GAP, launched a virtual Dressing Room app, allowing consumers to digitally assess clothing items before purchasing. This not only assists customers in selecting the appropriate attire but also aids in minimizing product returns, thereby reducing considerable financial liabilities for vendors.
How Is the Virtual Reality Services Market Segmented?
The virtual reality servicesmarket covered in this report is segmented -
1) By Type: Hardware, Software
2) By Basis Of Service: Consulting, Training, Implementation, Integration, Operation, Maintenance
3) By Application: Healthcare, Education, Real Estate, Advertising, Travel, Gaming, Entertainment, Other Applications
Subsegments:
1) By Hardware: VR Headsets, VR Controllers, VR Tracking Devices, VR Gloves, Haptic Feedback Devices, Motion Platforms, VR Cameras
2) By Software: VR Content Creation Software, VR Gaming Software, VR Simulation Software, VR Training And Education Software, VR Design And Architecture Software, VR Entertainment And Media Applications, Augmented Reality (AR) Integration Software
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Which Companies Are Leading the Charge in Virtual Reality Services Market Innovation?
Major companies operating in the virtual reality services market include Skywell Software LLC, LittlStar's, Creative Solutions, Gramercy Tech LLC, HQSoftware LLC, Program-Ace LLC, Groove Jones LLC, Xicom Technologies Ltd., Zco Corporation, The Intellify, Quy Technology Pvt. Ltd., Fluper Ltd., JPLoft Solution, Credencys Solutions Inc., HorizonCore Infosoft Pvt. Ltd., Quytech Company, Hedgehog lab Ltd., IndiaNIC Infotech Limited, Chetu Inc., Vakoms LLC, Delta Reality, Dyfuzja Software Development Co., Cortex Inc., Chocolate Milk & Donuts LLC, NARSUN Studios, Setapp Inc., Oodles Technologies Pvt. Ltd., Infotrum LLC, Sumeru Inc., NewGenApps, HTC Corporation, Sony Group Corporation, Oculus VR LLC, Google LLC, Samsung Electronics Co. Ltd., Lenovo Group Ltd., Meta Platforms Inc., NVIDIA Corporation, Apple Inc., Amazon Inc., Unity Technologies Inc., Unreal Engine 3D, Autodesk Inc., Eon Reality Inc., 3D Systems Corporation, Dassault Systèmes SE, Pico Interactive Inc., StarVR Corporation, FOVE Inc.
Which Regions Are Leading the Global Virtual Reality Services Market in Revenue?
Asia-Pacific was the largest region in the virtual reality services market in 2024. North America was the second largest region in the virtual reality services market. The regions covered in the virtual reality services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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