Global Virtual Reality (VR) Market report from Global Insight Services is the single authoritative source of intelligence on Virtual Reality (VR) Market. The report will provide you with analysis of impact of latest market disruptions such as Russia-Ukraine war and Covid-19 on the market. Report provides qualitative analysis of the market using various frameworks such as Porters’ and PESTLE analysis. 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 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.
Restraints and Challenges:
- The primary purpose of VR-enabled equipment is to generate visuals from a moving or stationary source. Latency is defined as any time difference between the actual or perceived reaction time and the required response time. Latency in VR applications can be caused by a number of issues, including a discrepancy in data processing speeds between the microprocessor and the input or output devices.
- The technology necessitates the use of high-performance hardware and computational power. The bulk of modern desktop accessories, on the other hand, are incompatible with programs.
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
Key Players:
- Meta
- Microsoft
- Sensics
- Leap Motion
- Sixense Enterprises
- Eon Reality
- Oculus
- Alphabet
- Unity Technologies Inc.
- Lenovo Group Ltd.
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