Virtual Reality For Consumer Market 2018 by Global Leaders: AltspaceVR, Binary VR, Bitmovin, Facebook, HTC, Leap Motion, nDreams, NextVR, Nvidia, Pixvana

Market Research Future published a research report on “Virtual Reality For Consumer Market Research Report- Global Forecast till 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.

Virtual Reality for Consumer Global Market - Overview

The virtual reality for consumer market is anticipated to showcase significant growth. The aspects such as advanced cloud computing and adoption of next generation of virtual reality are the major factors driving the virtual reality consumer market growth in the coming years. The consumers are widely adopting online applications which comprise of virtual reality technology for different purposes such as travelling, entertainment, events, and others. According to a recent study report published by the Market Research Future, the global market of virtual reality for consumer is booming and expected to gain prominence over the forecast period. The market is projected to demonstrate a spectacular growth by 2022, surpassing its previous growth records in terms of value with a striking CAGR during the anticipated period (2016 – 2022).

The decline in price of consumer headsets is anticipated to spur the virtual reality for consumer market. The virtual reality technology will be beneficial to many industries that adopt VR and mixed reality for business operations such as internal operations, managing supply chains, and supporting customers. Major industry vertical includes commercial real estate management, automotive, public safety, education and training. Of these, the education and training segment is expected to be the fastest growing.

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Key Players:

Some of the prominent players in the global virtual reality for consumer market: Alibaba Group Holding Limited (China), AltspaceVR (U.S.), Amazon.com, Inc. (U.S.), Binary VR Inc. (U.S.), Bitmovin (Austria), Facebook, Inc. (U.S.), Google LLC (U.S.), HTC Corporation (Taiwan), Leap Motion, Inc. (U.S.), Microsoft Corporation (U.S), nDreams, Ltd. (U.S.), NextVR, Inc. (U.S.), Nvidia Corporation (U.S.), Pixvana, Inc. (U.S.), and Sony Corporation (Japan) among others.

Industry News

August 9, 2016 - Alibaba Cloud, is named as the cloud computing arm of Alibaba Group, has announced its strategic partnership with HTC Corporation (‘HTC’). Both the companies joined hands to provide highly scalable and price-competitive virtual reality (“VR”) solutions for customers worldwide.

Oct 3, 2017 – Microsoft has acquired social VR app named AltspaceVR. This application facilitate users across headset and web platforms to join 3D chat rooms to play games, watch videos and attend events.

Virtual Reality for Consumer Global Market - Segmentation

The Virtual Reality for Consumer Market can be classified into 5 key segments for the convenience of the report and enhanced understanding;

• Segmentation by component: Comprises hardware and software.
• Segmentation by Technology: Comprises 3D audio, 3D depth sensors, 4K and 8K video, adaptive streaming, computer vision and others.
• Segmentation by Stimulations: Comprises Gesture Control, Hand Tracking, Optical Tracking, Positional Tracking And Others.
• Segmentation by End Users: Comprises Commercial Real Estate Management, Automotive, Public Safety, Education and Training, Healthcare and Others.
• Segmentation by Regions: Comprises Geographical regions - North America, Europe, APAC and Rest of the World.

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Virtual Reality for Consumer Global Market - Regional Analysis

North America region accounts for highest market share in virtual reality for consumer market owing to key industry players such as AltspaceVR (U.S.), Amazon.com, Inc. (U.S.), Binary VR Inc. (U.S.), Bitmovin (Austria), Facebook, Inc. (U.S.), Google LLC (U.S.). It is observed that, the company’s has significant establishment in the global and local market. US contributes large amount of revenue in the virtual reality for consumer market in the region. Asia Pacific region is expected to be growing at the highest CAGR. The growing e-commerce industry in the region is expected to boost the market growth. Whereas countries such as China, Japan, and India is an emerging market for virtual reality for consumer market is expected to be the highest CAGR in the coming years.

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