According to a report,“Virtual Reality (VR) Market Analysis By Device, By Technology, By Component, By Application (Aerospace & Defense, Commercial, Consumer Electronics, Industrial, & Medical), By Region, And Segment Forecasts, 2018 – 2025”, published by Grand View Research, Inc., the global virtual reality (VR) market is expected to reach USD 48.5 billion by 2025, 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.
Key Takeaways from the report:
-
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.
U.S. virtual reality market by component, 2014 – 2025 (USD Million)
Browse More Reports in Display Technologies Industry:
- Industrial Display Market: Due to the growing complexity of industrial operations and processes, the use of industrial displays has become crucial to simplify operational tasks and provide technologically advanced features. Human Machine Interfaces (HMIs) and other displays possess the ability to respond to the changing production demands and closely monitor the production processes, thereby decreasing the downtime and increasing workforce efficiency.
- Digital Signage Market: The creation and distribution of content with digital signage are the effective promotional strategies for the enterprises, as they are able to reach out to a larger audience base. This is anticipated to spur the adoption of digitized marketing via signage across the corporate and hospitality sectors. Greater screen sizes, such as above 52-inch displays, are likely to gain popularity over the forecast period.
Virtual reality market by application, 2016 (%)
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.
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
-
U.S.
-
Canada
-
Mexico
-
-
Europe
-
Germany
-
UK
-
France
-
-
Asia Pacific
-
China
-
Japan
-
India
-
-
South America
-
Brazil
-
-
The Middle East & Africa (MEA)
Explore the BI enabled intuitive market research database, Navigate with Grand View Compass, by Grand View Research, Inc.
About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
For more information: www.grandviewresearch.com
Media Contact
Company Name: Grand View Research, Inc.
Contact Person: Sherry James, Corporate Sales Specialist – U.S.A.
Email: Send Email
Phone: 1-415-349-0058, Toll Free: 1-888-202-9519
Address:201, Spear Street, 1100
City: San Francisco
State: California
Country: Switzerland
Website: www.grandviewresearch.com/industry-analysis/virtual-reality-vr-market