The Report Immersive Virtual Reality Market Analysis By Technology (Semi-Immersive,
Fully Immersive), By Device (Head-mounted Display (HMD), Gesture Tracking
Devices (GTD), Projectors & Display Walls (PDW)), By Application (Aerospace
& Defense, Consumer Electronics, Medical, Retail) And Segment Forecasts To
2020
The global immersive virtual reality market is
expected to reach USD 1.88 billion by 2020, according to a new study by Grand
View Research, Inc. The industry is expected to witness profound growth over
the next five years, as more consumer devices hit the market. Immersive VR
headsets came into prominence during 2013 with the arrival of the Oculus Rift
Developer Kit. The device is widely credited with giving the consumer VR space
a kick start and creating anticipation & hype among consumers. Over the
past two years, the industry has witnessed arrival of several consumer version
VR headsets such as the VRTX One, Durovis Dive, Homido, and the low-cost Google
Cardboard, thereby popularizing the technology.
Presently, immersive VR
headsets are only partly commercialized and several consumer versions are
anticipated to be launched in 2015–2016, including the Oculus Rift, HTC Vive,
Sony PlayStation VR, and FOVE. GTDs and other motion tracking peripherals have
also gained significant acceptance as an accessory to the HMD. Virtual reality
PDWs have evolved in technology and resolution. Development and provision of
CAVE systems and VR rooms for consumers are expected to boost demand for PDWs.
Technological
development triggers a plethora of VR solutions with varied capabilities that
allow users to experience utmost immersion. Making the VR experience more real
serves as a key driver towards market penetration and adoption. Most of the
available solutions are limited to head tracking leaving tremendous
opportunities for the development of new technologies that increase the user’s
sense of immersion and presence.
VR devices may pose
inconvenience to certain users owing to their ergonomics and weight. Bulky
devices offer render users with a sense of fatigue and discomfort after
prolonged use. Simulation sickness is one of the greatest hurdles to be
overcome, while designing VR experiences. Key stakeholders have been focusing
on the issue aggressively and tackling it with extreme precision, keeping
sensitivity and user comfort at priority.
Access Research Report of Immersive
Virtual Reality Market @ https://www.grandviewresearch.com/industry-analysis/immersive-virtual-reality-market
Further key findings from the study suggest:
· Fully immersive technologies are expected
to be the largest and fastest growing technology segment over the forecast
period owing to growing popularity of wearable devices among consumers. The
segment accounted for over 75% of the revenue in 2014.
· HMDs dominate the global immersive VR
market share. Mobile VR headsets make use of smartphones for the screen, for
example, Google Cardboard, whereas integrated HMDs have inbuilt screens, for
example, Oculus Rift. The segment accounted for over 60% of the revenue in
2014.
· Demand in retail and medical sectors is
expected to witness exponential growth over the next five years. Consumer
electronics application accounted for the largest share of 45% in 2014, and
this trend is expected to continue over the forecast period.s
· North America immersive virtual reality
market accounted for about 50% of the overall share in 2014 owing to the
presence of key vendors in the region coupled with a myriad of technology
giants. Affordability and availability of consumer VR continue to drive growth
across regions.
· Several start-ups and individuals with
technological expertise have raised funds through Kickstarter and promoted
their solutions through online campaigns. Consumer electronics manufacturers
such as Sony, HTC, and Samsung, and technology giants such as Google, Facebook,
and Microsoft have also ushered into the market with VR solutions.
Grand View Research has
segmented the immersive virtual reality market on the basis of technology,
device, application, and region:
Immersive Virtual Reality Technology Outlook (Revenue,
USD Million, 2013 - 2020)
·
Semi-immersive
·
Fully immersive
Immersive Virtual Reality Device Outlook (Revenue, USD
Million, 2013 - 2020)
·
HMD
·
GTD
·
PDW
Immersive Virtual Reality Application Outlook (Revenue,
USD Million, 2013 - 2020)
·
Aerospace & defense
·
Consumer electronics
·
Medical
·
Retail
·
Others
Immersive Virtual Reality Regional Outlook (Revenue, USD
Million, 2013 - 2020)
·
North America
·
Europe
·
Asia Pacific
·
Latin America
·
MEA
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.
