San Francisco,4 October
2018: The global virtual reality (VR) market is expected to reach USD 48.5 billion by 2025,
according to a new report conducted by Grand View Research, Inc. VR technology
based Gesture Tracking Devices (GTD) devices find commercial applications in
high-performance computers and VR gaming applications. The VR Head Mount
Devices (HMD) technology offers a cost-effective and reliable solution to
experience immersive virtual experience by means of a smartphone. The consumer
electronics application segment would dominate the sector in terms of market
size over the forecast period. The growing adoption of medical and consumer
electronics based VR applications is anticipated to revolutionize the market by
2025.
Non-mobile VR headsets
have their own integrated screens, for example, Oculus Rift, whereas mobile VR
headsets use smartphones as the screen, for example, Google Cardboard. Numerous
large corporations, such as HTC Corporation and Sony Corporation, are venturing
into space. The introduction of commercial VR headsets is expected to
accelerate market growth over the next two years.
The market can be
categorized based on components into hardware and software verticals. The
hardware segment dominated the virtual reality market in terms of the overall
market share in 2016. The rising demand for smartphone devices is anticipated
to complement the growing VR hardware device sales. The increasing penetration
of devices, such as smartphones and tablets, is expected to drive the software
segment over the forecast period. The increasing demand for VR applications in
the gaming and entertainment segments is expected contribute to the market
growth.
Access Research Report
of Virtual Reality Market@
www.grandviewresearch.com/industry-analysis/virtual-reality-vr-market
Further
key findings from the report suggest:
· The semi and fully immersive segment
dominated the VR market in 2016 in terms of the overall market share. Immersive
VR devices aid users to achieve maximum isolation from the real world dimension
into the virtual world.
· The GTD VR hardware includes sensors,
processors, and displays. Furthermore, several companies are working on
enhancing the quality of sensors and processors used in VR devices.
· In the entertainment and healthcare
segments, VR applications can save time and reduce operational costs.
· The North American region dominated the
marketplace, accounting for the largest global market share (in terms of
revenue) in 2016.
· The key industry participants include
CyberGlove Systems LLC, Barco, Alphabet Inc., HTC Corporation, Oculus VR LLC,
and Leap Motion, Inc.
Browse more reports of this category by Grand View
Research at: www.grandviewresearch.com/industry/display-technologies
Grand View Research has
segmented the global virtual reality market based on device, component,
technology, application, and region:
VR Device Outlook (Revenue, USD Million; 2014 - 2025)
·
Head-Mounted Display (HMD)
·
Gesture Tracking Devices (GTD)
·
Projectors & Display Walls (PDW)
VR Component Outlook (Revenue, USD Million; 2014 - 2025)
·
Hardware
·
Software
VR Technology Outlook (Revenue, USD Million; 2014 - 2025)
·
Non-Immersive
·
Semi & Fully Immersive
VR Application Outlook (Revenue, USD Million; 2014 -
2025)
·
Aerospace & Defense
·
Commercial
·
Consumer Electronics
·
Industrial
·
Medical
·
Other
VR Regional Outlook (Revenue, USD Million; 2014 - 2025)
·
North America
o
U.S.
o
Canada
o
Mexico
·
Europe
o
Germany
o
UK
o
France
·
Asia Pacific
o
China
o
Japan
o
India
·
South America
o
Brazil
·
The Middle East & Africa (MEA)
Access Press Release of
Virtual Reality Market@ www.grandviewresearch.com/press-release/global-virtual-reality-vr-market
About
Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research
reports, and consulting services. To help clients make informed business
decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
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