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In 2022, the total value of the global virtual reality market was estimated to be USD 28.48 billion, and it is anticipated that the industry will expand at a compound annual growth rate (CAGR) of 14.8% from 2023 to 2030. Virtual reality (VR) gives users the ability to interact with a three-dimensional environment while they are physically located in the real world. Consumers are provided with an immersive experience thanks to VR technology, which is manifested in the form of wearable devices such as VR headsets, glasses or gloves, and bodysuits. The gaming and entertainment industries have also been revolutionised by virtual reality technology since it enables users to immerse themselves in highly simulated gaming environments. In addition, the expanding application of virtual reality in educational training, such as that provided to construction workers, engineers, mechanics, pilots, members of the armed forces, and technicians working in a variety of industrial sectors, is a major factor driving the expansion of the market.
Constructing virtual reality worlds requires the utilisation of computer technologies. Through the use of virtual reality (VR), users are able to explore a three-dimensional environment that is located in the real world. This immersive experience is made possible for customers by virtual reality (VR) technology, which can be found in products such as bodysuits, glasses, and gloves. Virtual reality technology has also revolutionised the gaming and entertainment sectors. This is due to the fact that it enables users to fully immerse themselves in a gaming world that is extremely realistic.
The increased popularity of virtual reality technology across a variety of industries, including gaming and entertainment, healthcare, automotive, architecture, and education, is contributing to the expansion of the industry. It is projected that the gaming and entertainment industries would be the primary drivers of growth in the virtual reality (VR) market throughout the course of the time covered by the projections. The competitors in this sector are spending more money to develop new content, software, and hardware for video games. The growing demand for theme parks, gaming arcades, and virtual worlds is also helping the industry of virtual reality to expand, which is a significant plus for the development of this sector.
The most up-to-date technology is designed to be user-friendly, portable, and space-saving. They are employed for the purpose of representing information in graphical and pictorial forms. These gadgets are expected to be small and straightforward, and they must have displays with a high resolution. There is a notable rise in demand for head-mounted displays (HMDs), heads-up displays (HUDs), and virtual reality (VR) projectors across a number of different markets, including the consumer electronics, aerospace and defence, medical, and automotive markets. The majority of virtual reality head-mounted displays, or VR HMDs, use direct-view OELD panels with panel sizes ranging from 2 to 6 inches. This is despite the fact that VR HMDs are becoming increasingly popular in consumer applications for gaming and viewing entertainment material. Because virtual reality head-mounted displays (VR HMDs) are becoming increasingly popular and in demand, the leading display manufacturers are working to improve the displays that are used in VR HMDs. For instance, Kopin has developed a microdisplay that is tailored specifically for VR HMDs.
CMOS/OLED microdisplays have been developed specifically for usage in virtual reality head-mounted displays (VR HMDs) as a result of the big, cost-effective OLED microdisplay (LOMID) project. Due to the limitations of direct-view displays, microdisplays have the potential to become the predominant display module for virtual reality head-mounted displays (HMDs). It is projected that technocrats will have a greater need for VR head-mounted displays (HMDs) as a result of the advancements described above in the improvement of VR display. This will be the primary factor driving the expansion of the worldwide VR market. In addition, HMDs play an important part in a variety of applications, including flight simulation, scientific visualisation, medicine, engineering, designing and prototyping, education and training, wearable computing, and entertainment solutions. These are just a few examples. They offer a better blend of price and special features than 3D screens do than these alternatives do.
The inability to walk around freely while wearing headsets is the most significant limitation brought about by immersive user experiences. The fact that many headsets are not wireless and need to be plugged into a PC via cables and other accessories makes it necessary for the user to remain stationary for an extended period of time. This results in motion sickness from virtual reality (VR) as well as neck ache from the absence of movement. The low resolution of VR-enabled gadgets is another drawback of this technology. A low resolution makes viewing more difficult and can also make symptoms of virtual sickness, like discomfort and nausea, worse. Adjusting the resolution may place a larger strain on the central processing unit as well as the graphical processing unit, which may have an impact on the overall performance. The impact of this driver is moderate at the moment, but it is anticipated to decrease within the next three to four years as a result of the introduction of AR gadgets, which will assist in enhancing the mobility of users.
Report Coverage
Global Virtual Reality research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Virtual Reality report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Virtual Reality competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Virtual Reality market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Virtual Reality market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Virtual Reality market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Sony (Japan), Samsung Electronics (South Korea), Google (US), Microsoft (US), HTC (Taiwan), Oculus (US), Eon Reality (US), Vuzix (US), CyberGlove Systems (US), Leap Motion (US), and Sixense Enterprises (US).
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Virtual Reality market based on the below-mentioned segments:
Global Virtual Reality Market, By Device
Head-mounted Display (HMD)
Gesture-tracking Device (GTD)
Projectors & Display Wall (PDW)
Global Virtual Reality market, By Application
Aerospace & Defense
Consumer
Commercial
Enterprise
Healthcare
Others
Global Virtual Reality Market, By Component
Hardware
Software
Global Virtual Reality market, Regional Analysis
Constructing virtual reality worlds requires the utilisation of computer technologies. Through the use of virtual reality (VR), users are able to explore a three-dimensional environment that is located in the real world. This immersive experience is made possible for customers by virtual reality (VR) technology, which can be found in products such as bodysuits, glasses, and gloves. Virtual reality technology has also revolutionised the gaming and entertainment sectors. This is due to the fact that it enables users to fully immerse themselves in a gaming world that is extremely realistic.
The increased popularity of virtual reality technology across a variety of industries, including gaming and entertainment, healthcare, automotive, architecture, and education, is contributing to the expansion of the industry. It is projected that the gaming and entertainment industries would be the primary drivers of growth in the virtual reality (VR) market throughout the course of the time covered by the projections. The competitors in this sector are spending more money to develop new content, software, and hardware for video games. The growing demand for theme parks, gaming arcades, and virtual worlds is also helping the industry of virtual reality to expand, which is a significant plus for the development of this sector.
The most up-to-date technology is designed to be user-friendly, portable, and space-saving. They are employed for the purpose of representing information in graphical and pictorial forms. These gadgets are expected to be small and straightforward, and they must have displays with a high resolution. There is a notable rise in demand for head-mounted displays (HMDs), heads-up displays (HUDs), and virtual reality (VR) projectors across a number of different markets, including the consumer electronics, aerospace and defence, medical, and automotive markets. The majority of virtual reality head-mounted displays, or VR HMDs, use direct-view OELD panels with panel sizes ranging from 2 to 6 inches. This is despite the fact that VR HMDs are becoming increasingly popular in consumer applications for gaming and viewing entertainment material. Because virtual reality head-mounted displays (VR HMDs) are becoming increasingly popular and in demand, the leading display manufacturers are working to improve the displays that are used in VR HMDs. For instance, Kopin has developed a microdisplay that is tailored specifically for VR HMDs.
CMOS/OLED microdisplays have been developed specifically for usage in virtual reality head-mounted displays (VR HMDs) as a result of the big, cost-effective OLED microdisplay (LOMID) project. Due to the limitations of direct-view displays, microdisplays have the potential to become the predominant display module for virtual reality head-mounted displays (HMDs). It is projected that technocrats will have a greater need for VR head-mounted displays (HMDs) as a result of the advancements described above in the improvement of VR display. This will be the primary factor driving the expansion of the worldwide VR market. In addition, HMDs play an important part in a variety of applications, including flight simulation, scientific visualisation, medicine, engineering, designing and prototyping, education and training, wearable computing, and entertainment solutions. These are just a few examples. They offer a better blend of price and special features than 3D screens do than these alternatives do.
The inability to walk around freely while wearing headsets is the most significant limitation brought about by immersive user experiences. The fact that many headsets are not wireless and need to be plugged into a PC via cables and other accessories makes it necessary for the user to remain stationary for an extended period of time. This results in motion sickness from virtual reality (VR) as well as neck ache from the absence of movement. The low resolution of VR-enabled gadgets is another drawback of this technology. A low resolution makes viewing more difficult and can also make symptoms of virtual sickness, like discomfort and nausea, worse. Adjusting the resolution may place a larger strain on the central processing unit as well as the graphical processing unit, which may have an impact on the overall performance. The impact of this driver is moderate at the moment, but it is anticipated to decrease within the next three to four years as a result of the introduction of AR gadgets, which will assist in enhancing the mobility of users.
Report Coverage
Global Virtual Reality research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Virtual Reality report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Virtual Reality competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Virtual Reality market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2022 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | Sony (Japan), Samsung Electronics (South Korea), Google (US), Microsoft (US), HTC (Taiwan), Oculus (US), Eon Reality (US), Vuzix (US), CyberGlove Systems (US), Leap Motion (US), and Sixense Enterprises (US). |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Virtual Reality Market from 2021 to 2030.
- Market Forecast for Virtual Reality Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Virtual Reality competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Virtual Reality
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Virtual Reality market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Virtual Reality market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Sony (Japan), Samsung Electronics (South Korea), Google (US), Microsoft (US), HTC (Taiwan), Oculus (US), Eon Reality (US), Vuzix (US), CyberGlove Systems (US), Leap Motion (US), and Sixense Enterprises (US).
Primary Target Market
- Market Players of Virtual Reality
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Virtual Reality market based on the below-mentioned segments:
Global Virtual Reality Market, By Device
Head-mounted Display (HMD)
Gesture-tracking Device (GTD)
Projectors & Display Wall (PDW)
Global Virtual Reality market, By Application
Aerospace & Defense
Consumer
Commercial
Enterprise
Healthcare
Others
Global Virtual Reality Market, By Component
Hardware
Software
Global Virtual Reality market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
About This Research
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