Virtual Reality (VR) Market 2018-2023 by Global Leaders: Google, Microsoft, Blippar, Vuzix, Metaio, Qualcomm, Oculus VR, EON Reality, Starbreeze Studios, Razer, HTC, BAE Systems

Global Virtual Reality Market Information, by Type (Augmented, Immersive, Video mapping), by Component (Projector, Sensor, HMD, Semiconductor), by Application (Entertainment, Gaming, Tourism), by Technology (Non-immersive) - Forecast 2027

Market Synopsis
Virtual reality is the term used to describe a three-dimensional, computer generated environment which can be explored and interacted, that a user can manipulate and explore while feeling as if he was in that world. The effect is commonly created by VR headsets consisting of head-mounted goggles with a screen in front of the eyes, but also can be created through specially designed spaces with multiple large screens. In the area of gaming, VR systems also possess gaming controller or other device which can transmit vibrations and other sensations. The fascinating environment can be similar to the real world in order to create a lifelike experience grounded in reality or sci-fi. Modern VR displays are based on technology developed for smartphones which includes gyroscopes and motion sensors for tracking head, hand, and body positions; small HD screens for stereoscopic displays; and fast processors. Based on these components in 2012 Oculus VR a division of Facebook Inc. developed first independent VR headset known as Oculus Rift.

The major growth driver of Virtual Reality Market includes growing digitization, advancement of technology, increasing demand for head mounted displays in gaming and entertainment industries, and rising investment in virtual reality market among others.

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Vuzix Corporation, one of the leading suppliers of video eyewear and M300 smart glasses, has announced in July 2016 that it has done partnership with Sensory, a silicon valley-based company, to deliver voice recognition on the M300 to improve the efficiency on work by the users.

The market for virtual reality network is led by North America followed by Europe and Asia Pacific. Virtual reality has been rapidly adopted in this region, owing to the extensive R&D and presence of several VR companies in this region. Most of the companies offering VR technology are located in the U.S.

Segmentation
The global Virtual reality market is segmented by Components which covers a wide range like HMD (head mounted displays), gesture control devices, projector & display walls, 3D camera, sensors, and semiconductors. Most of the head mounted displays are mounted in a helmet or a set of goggles with speakers or headphones engraved in them so that user can get both video and audio at the same time. In April 2017 Acer Inc. a Taiwanese multinational and hardware corporation unveiled its Mixed Reality Headset Module (HMD) which is the lightest and advanced in its category. In the field of sensors accelerometers, magnetometers, and gyroscopes have become essential to modern VR devices. They allow users to measure motion and direction in space which in turn allows users to translate movement into a virtual environment. In May 2017 Microsoft launched its own super sensing VR controller which can work with any Microsoft supported headset, pairing with the cameras so user can see their hands in VR without needing any external hardware.

Global Virtual Reality market holds some of the key players like Google Inc. (US), Microsoft Corporation (US), Blippar Inc. (UK), Vuzix Corporation (US), Metaio Gmbh (Germany), Qualcomm Incorporated (US), Oculus VR, LLC (US), EON Reality, Inc. (US), Starbreeze Studios (Sweden), Razer Inc. (Singapore), HTC Corporation (Taiwan), BAE Systems AB (Sweden).

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