The immersive virtual reality (VR) market stood about USD 64 million in 2014. Immersive VR smudges the line between digital & physical world, thus making presence felt in the virtual setting for users. Big companies like Sony and HTC are exploring this technology. Rising commercial VR headsets are predicted to contribute market incomes in the two years ahead. Promotion of smart phones will also propel the market, specifically for mobile HMDs. Several corporations offering mobile VR headsets utilize third party mobile instruments as screens. This decreases the total costs and opens prospects for the developers of mobile applications.
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As technological costs decrease, the usage of immersive VR grows substantially in various industries. Industrial expansion, user VR emergence, and dipping products retail prices are also anticipated to drive the immersive virtual reality (VR) market in the forecast period (2015 to 2022).
Nevertheless, content shortage and health issues may restrict the market. The market is segmented into technologies, devices, applications, and regions. On the basis of technologies, semi-immersive is employed by projectors, shutter glasses, display walls, motion devices, and other products.
Fully immersive technology provides virtual environmental experience. It is employed by gesture identification products, headsets, and controllers. The segment should undergo decent growth in the near future. Head-mounted displays (HMDs), projectors, display walls, and gesture tracking devices (GTDs) are the devices.
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HMDs include mobile and integrated headsets. GTDs comprise cameras, hand devices, voice controls, body units, gloves, haptics, foot controls, and treadmills. This device is projected to experience maximum expansion in the coming years. Applications of the immersive virtual reality (VR) market consist of aerospace & defence, consumer electronics, medical, industrial, sales, and education.
Demand from medical, sales, industrial, and education applications should increase significantly. The regional segments encompass North America, Asia Pacific, Europe, and rest of the world. North America occupied around 50% shares in 2014. This was credited to multiple technology corporations and key sellers in the region.
The global market is propelled further by the presence & cost-efficiency of consumer VRs. HTC, Sony, and Samsung are some of the manufacturers of consumer electronics that participate in the immersive virtual reality (VR) market.
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