The global virtual reality market was worth $10.85 billion in 2020 and is expected to reach $52.03 billion by 2028, growing at a CAGR of 21.9% from 2021 to 2028.
– Zion market research
SARASOTA, FLORIDA, USA, September 16, 2022 /EINPresswire.com/ — The largest companies in the virtual reality market are Sony, HTC Corporation and Samsung Electronics. These players are set to support development global virtual reality market.
𝐀𝐜𝐜𝐨𝐫𝐝𝐢𝐧𝐠 𝐭𝐨 𝐚𝐭 𝐙𝐢𝐨𝐧 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡, 𝐭𝐡𝐞 𝐫𝐞𝐚𝐥𝐢𝐭𝐲 𝐦𝐚𝐫𝐤𝐞𝐭 𝐚𝐜𝐜𝐨𝐮𝐧𝐭𝐞𝐝 𝐟𝐨𝐫 𝐭𝐡𝐚𝐧 𝐔𝐒𝐃 % 𝐭𝐨 𝟐𝟎𝟐𝟖.
This overview is based on a Zion Market Research report titled “Virtual Reality Market by Component (Hardware and Software), by Device Type (Head Display, VR Simulator, VR Goggles, Treadmills & Tactile Gloves, and Others), by Industry. (Games, Entertainment, Automotive, Retail, Healthcare, Education, Aerospace & Defense, Manufacturing, and Others): Global Industry Outlook, Comprehensive Analysis & Forecast, 2020-2028.
𝐌𝐚𝐬𝐬𝐢𝐯𝐞 𝐕𝐑 𝐀𝐜𝐫𝐨𝐬𝐬 𝐌𝐲𝐫𝐢𝐚𝐝 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐢𝐞𝐬 𝐒𝐩𝐮𝐫 𝐆𝐫𝐨𝐰𝐭𝐡 𝐆𝐫𝐨𝐰𝐭𝐡 𝐆𝐫𝐨𝐰𝐭𝐡 𝐆𝐫𝐨𝐰𝐭𝐡
“The growing use of head-mounted displays in entertainment, retail, healthcare, e-commerce, automotive and gaming will drive the growth of the virtual reality (VR) market in the coming years,” says the author of this study. In addition, the use of virtual reality for education, as well as its widespread use in mobile phones, tablets and smart phones to improve business operations, will drive virtual reality (VR) market trends in the future.
However, the limited user interface (UI) with virtual reality applications is expected to hinder the growth of the virtual reality (VR) market in the coming years. However, large investments by global players in virtual reality applications are expected to increase the size of the virtual reality (VR) market in a couple of years, normalizing the impact of barriers to the virtual reality (VR) market, the study said.
With a large pool of participants, the global virtual reality (VR) market is exhibiting a highly competitive business environment, according to a new research report from Zion Market Research (ZMR). Sony, HTC Corporation and Samsung Electronics are among the key VR providers worldwide. These players in the virtual reality (VR) market are actively focusing on innovation as well as incorporating cutting edge technology into their existing products. They are also expected to move into partnerships, mergers and acquisitions in the coming years as their key business development strategy is to explore the virtual reality (VR) market.
Referring to an example, on August 30, 2018, BigBasket, an Indian grocery store limited liability company, decided to introduce a virtual reality (VR) store on its app.
𝐏𝐫𝐞𝐬𝐞𝐧𝐜𝐞 𝐨𝐟 𝐏𝐥𝐚𝐲𝐞𝐫𝐬 𝐈𝐧 𝐓𝐡𝐞 𝐒𝐮𝐩𝐩𝐨𝐫𝐭 𝐍𝐨𝐫𝐭𝐡 𝐀𝐦𝐞𝐫𝐢𝐜𝐚𝐧 𝐃𝐨𝐦𝐢𝐧𝐚𝐧𝐜𝐞
Regionally, North America leads the global virtual reality (VR) market and is expected to maintain its dominant position in the coming years, according to a virtual reality (VR) market study. The presence of major players in countries such as the US is one of the key drivers behind the dominance of the North American virtual reality (VR) market. The large number of market players headquartered in North America is another important factor supporting this regional virtual reality (VR) market.
The 5G network and its worldwide deployment is the driving force behind virtual technology. This greatly complements the introduction of VR technology. Sectors such as education, healthcare, automotive and many more are investing in virtual learning and solutions. For example, the educational sector is completely dependent on virtual sessions. Meetings and celebrations take place virtually.
The gaming industry has fully developed after the introduction of 3D technology and virtual reality. The use of Head-Up Displays (HMDs) has helped provide users with an enhanced and unique experience. Video gamers generally prefer HMDs for the best gaming experience.
𝐓𝐡𝐞 𝐠𝐥𝐨𝐛𝐚𝐥 𝐫𝐞𝐚𝐥𝐢𝐭𝐲 𝐦𝐚𝐫𝐤𝐞𝐭 𝐢𝐬 𝐬𝐞𝐠𝐦𝐞𝐧𝐭𝐞𝐝 𝐟𝐨𝐥𝐥𝐨𝐰𝐬:
𝐁𝐲 𝐃𝐞𝐯𝐢𝐜𝐞 𝐓𝐲𝐩𝐞
– virtual reality glasses
– Tactile gloves
𝐁𝐲 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲 𝐓𝐲𝐩𝐞
-Aerospace and Defense
𝐑𝐞𝐠𝐢𝐨𝐧𝐚𝐥 𝐚𝐧𝐚𝐥𝐲𝐬𝐢𝐬 𝐢𝐧𝐜𝐥𝐮𝐝𝐞𝐬
1. North America (USA, Canada)
2. Latin America (Mexico, Brazil)
3. Western Europe (Germany, Italy, UK, Spain, France, Nordic countries, BENELUX)
4. Eastern Europe (Russia, Poland, rest of Eastern Europe)
5. Asia Pacific excluding Japan (China, India, ASEAN, JAPAN, Australia, and New Zealand)
6. Middle East and Africa (GCC, South Africa, North Africa, rest of the Middle East and Africa)
𝐅𝐑𝐄𝐐𝐔𝐄𝐍𝐓𝐋𝐘 𝐀𝐒𝐊𝐄𝐃 𝐐𝐔𝐄𝐒𝐓𝐈𝐎𝐍𝐒
1) What was the value of the global VR market in 2020?
2) What will be the size of the global VR market in 2028?
3) What are the key factors driving the growth of the global VR market?
4) Which region will make a notable contribution to the global VR market?
5) Who are the main companies operating in the global virtual reality market?
𝐁𝐫𝐨𝐰𝐬𝐞 𝐦𝐨𝐫𝐞: 𝐓𝐞𝐜𝐡𝐧𝐨𝐥𝐨𝐠𝐲 & 𝐌𝐞𝐝𝐢𝐚 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 – https://www.zionmarketresearch.com/category/technology-media
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Global Virtual Reality Market to 2022 – Size, Industry Outlook, Comprehensive Analysis 2028