According to a new market research report published by Global Insight Services “Virtual Reality Market is expected to reach US$ XX bn by 2031”. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.
Virtual Reality equipment such as gloves, headsets or glasses, and bodysuits are used to provide viewers with an immersive experience. By allowing users to immerse themselves in a fully realistic environment, virtual reality has changed the gaming and entertainment industries. In addition, the expanding usage of this technology in instructional training, such as for instructing engineers, mechanics, pilots, field workers, defense warriors, and technicians in the manufacturing and oil and gas industries, is propelling market expansion.
The easy availability of affordable VR devices is a major element pushing VR device adoption. Local companies’ launches of VR gadgets in countries like China and India have aided in making such devices inexpensive and promoting their widespread adoption.
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Key Players:
- Meta
- Microsoft
- Sensics
- Leap Motion
- Sixense Enterprises
- Eon Reality
Key Trends and Drivers:
- The increasing usage of the 5G network is driving virtual technology adoption. High-bandwidth and ultra-low latency are key features of 5G services. The promotes the use of virtual reality technology in applications such as entertainment, training, and simulation.
- Head Mounted Displays (HMDs) have been widely used in the gaming and entertainment industries. With the introduction of VR and 3D technology, the gaming industry has undergone a technical transformation. The use of HMDs for gaming is the primary driver of the VR HMD market’s growth. The advent of low-cost VR HMDs has also aided in the growth of the VR segment’s shipments.
- Improving consumer comfort levels in situational uses, such as VR gaming and VR calls, are among the aspects that point to a promising future for VR technology in gaming.
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Segmentation:
By Device
- Head-mounted Display (HMD)
- Gesture-tracking Device (GTD)
- Projectors & Display Wall (PDW)
By Offering
- Hardware
- Sensors
- Semiconductor Components
- Displays and Projectors
- Position Trackers
- Cameras
- Software
- Software Development Kits
- Cloud-Based Services
- VR Content Creation
By End Use Industry
- Consumer
- Gaming and Entertainment
- Commercial
- Retail and Ecommerce
- Education and Training
- Travel and Tourism
- Advertising
- Healthcare
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- Surgery
- Patient Care Management
- Fitness Management
- Pharmacy Management
- Medical Training and Education
- Energy
- Aerospace & Defense
Reasons to buy Virtual Reality Market Report:
- Develop comprehensive understanding of market landscape – industry structure, value-chain, key players, trends, drivers, and challenges
- Drive revenue and market-entry strategy by gaining insights into which segments and geographies are largest and likely to grow fastest
- Formulate sales and marketing strategies by gaining understanding of competitors, their positioning, and strengths & weaknesses
- Develop business and M&A strategies through understanding of latest trends and emerging players in the market
- Refine your business plans by understanding impact of disruptions such as Covid-19 and Russia-Ukraine conflict on the market
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Key Questions answered in the report:
- How is the market structured and what the key drivers and trends of this industry?
- How is the market segmented and what is the size of each segment?
- Which segments and geographies provide best growth opportunities?
- What’s the competitive landscape and positioning of players in this market?
- What is the impact of latest events such as Covid-19 and Russia-Ukraine conflict on the market?
About Global Insight Services:
Global Insight Services (GIS) is a leading multi-industry market research firm headquartered in Delaware, US. We are committed to providing our clients with highest quality data, analysis, and tools to meet all their market research needs. With GIS, you can be assured of the quality of the deliverables, robust & transparent research methodology, and superior service.
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