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At 54.01% CAGR, Virtual reality (VR) Market to be worth USD 26.89 Billion by 2022

08-17-2017 01:53 PM CET | Advertising, Media Consulting, Marketing Research

Press release from: ZMR

At 54.01% CAGR, Virtual reality (VR) Market to be worth USD 26.89

Zion Market Research has published a new report titled “Virtual reality (VR) Market by Hardware and Software for (Consumer, Commercial, Enterprise, Medical, Aerospace and Defense, Automotive, Energy and Others). Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2016 – 2022". According to the report, the global virtual reality (VR) market was valued at approximately USD 2.02 billion in 2016 and is expected to reach approximately USD 26.89 billion by 2022, growing at a CAGR of around 54.01% between 2017 and 2022.

VR is an artificial environment which is created by software and presented to the user in such a way that the user belief and accepts it as a real environment. Unlike traditional user interfaces, virtual reality (VR) places the user inside an experience. Instead of viewing a screen in front of them users are immersed and able to interact with 3D worlds. By simulating as many senses as possible like vision, hearing, touch, even smell the computer is transformed into a gatekeeper to this artificial world.

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The increasing use of head-mounted displays in the entertainment and gaming sector along with a decline in the prices of displays and other hardware components of HMDs and increasing uses of VR in training purpose are the key driving factors for the VR market. Additionally, Increasing mobile phones, tablets, and smartphones with built in VR functionalities that have become an important tool in the workplace to enhance smooth business workflows and operations. The market has the challenge to develop user-friendly virtual reality and tracking systems for easy acceptance and penetration of the virtual reality. However, increasing the investment by global players in the virtual reality applications is expected to grow the market during the upcoming time.

The global Virtual reality (VR) market segmented on the basis of technology, offering, device type, application, and regions. The technology segment includes non-immersive and semi-immersive & fully immersive. Hardware and software segment cover under offering segment. Hardware segment further divided into sub segment i.e. sensors, a semiconductor component, displays & projectors, position tracker, cameras and others. Sub segment of software includes software development kits and cloud-based services.

Browse the full " Virtual reality (VR) Market by Hardware and Software for (Consumer, Commercial, Enterprise, Medical, Aerospace and Defense, Automotive, Energy and Others) Global Industry Perspective, Comprehensive Analysis and Forecast, 2016 – 2022." report at http://www.zionmarketresearch.com/report/virtual-reality-market

Device type segment divides into the head-mounted display, gesture control devices, and projectors and displays walls. Consumer, commercial, enterprise, medical, aerospace, and defense, automotive, energy and others applications come under application segment. Consumer application is holding largest market share as there is a high use of virtual reality in gaming and entertainment sectors that has been driving factor to the growth of the market. Additionally, increased interest of large technology companies in VR has been one of the key driving factors for the growth of the consumer virtual reality market.

The regional segmentation includes the current and forecast demand for North America, Europe, Asia Pacific, Latin America and the Middle East and Africa with its further bifurcation into major countries including U.S. Germany, France, UK, China, Japan, India, and Brazil. North America is to hold the largest size of the market due to industry leaders in is present in the US and has recognized the potential opportunity in virtual reality. Followed by Europe, and expected that APAC region will hold highest market share during forecasted period.

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The report covers detailed competitive outlook including company profiles of the key participants operating in the global VR market. Key players profiled in the report include Oculus VR, LLC, Sony Corporation, HTC Corporation, Samsung Electronics Co., Ltd., EON Reality Inc., Google Inc., Microsoft Corporation, Vuzix Corporation, CyberGlove Systems Inc, Sensics, Inc., Leap Motion Inc., Marxent Labs LLC, WorldViz, Jaunt, Inc., Cyberith GmbH, Virtalis Limited, and Sixense Entertainment, Inc among others.

About Us:
Zion Market Research is an obligated company. We create futuristic, cutting edge, informative reports ranging from industry reports, company reports to country reports. We provide our clients not only with market statistics unveiled by avowed private publishers and public organizations but also with vogue and newest industry reports along with pre-eminent and niche company profiles. Our database of market research reports comprises a wide variety of reports from cardinal industries. Our database is been updated constantly in order to fulfill our clients with prompt and direct online access to our database. Keeping in mind the client’s needs, we have included expert insights on global industries, products, and market trends in this database. Last but not the least, we make it our duty to ensure the success of clients connected to us—after all—if you do well, a little of the light shines on us.

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