Global Virtual Reality
Market Report
2024
Delivery Includes:- Market Timeline 2019 till 2031, Market Size, Revenue/Volume Share, Forecast and CAGR, Competitor Analysis, Regional Analysis, Country Analysis, Segment Analysis, Market Trends, Drivers, Opportunities, Restraints, ESG Analysis, Porters Analysis, PESTEL Analysis, Market Attractiveness, Patent Analysis, Technological Trend, SWOT Analysis, COVID-19 Analysis, Consumer Behavior Analysis, etc.
The base year for the calculation is 2023 and 2019 to 2023 will be historical period. The year 2024 will be estimated one while the forecasted data will be from year 2025 to 2031. When we deliver the report that time we updated report data till the purchase date.
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It has been observed that in year 2020, roughly 57.4 million of people owned a VR headset in the US. Moreover, reports indicate that roughly 78 percent of Americans are already familiar with VR technology.
In terms of revenue, Fully immersive was the leading Type with 43.88% share of total Virtual Reality market in 2021
In terms of revenue, Hardware was the leading Offering with 65.49% share of total Virtual Reality market in 2021
In terms of revenue, Entertainment was the leading Application with 24.78% share of total Virtual Reality market in 2021
North America was the dominated region with 36.56% of total revenue market share in 2021.
Base Year | 2023 |
Historical Data Time Period | 2019-2023 |
Forecast Period | 2024-2031 |
Global Virtual Reality Market Sales Revenue 2030 | $ 51.6 Billion |
Global Virtual Reality Market Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 25.53% |
Market Split by Type |
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Market Split by Application |
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Market Split by Offering |
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List of Competitors |
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Regional Analysis |
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Country Analysis |
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Key Qualitative Information Covered |
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Report scope is customizable as we have a huge database of Virtual Reality industry. We can deliver an exclusive report Edition/Consultation as per your data requirements. Request for your Free Sample Pages.
Virtual Reality Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
Virtual reality is a simulated 3D environment that enables users to explore and interact with a virtual surrounding by giving an immersive feel of a virtual world. In a current scenario, virtual reality systems use either virtual reality headsets or multi-projected environments to generate realistic images, sounds and other sensations. This effect is been created by VR headsets consisting of a head-mounted display with a small screen in front of the eyes, but can also be created through specially designed rooms with multiple large screens. This sector of industry has still far way to go and it’s still in the growing phase. The usage and its significance vary from one to the next, depending on their purpose and the technology used. VR technology is associated with gaming, but it is used to support sales, facilitate learning, simulate travel, communicate, and more. COVID-19 pandemic has facilitated the usage of VR technology because of social distancing and trend for remote working.
High adaption of VR headset in media and entertainment sector:
Current Trends on Virtual Reality:
The concept of virtual technology began in 2000, but potential has gradually increased within the last decade. This is majorly driven by its extended branches of applications in education, content creation and many more. For instance, conducting online classes is a challenging job as student engagement drops drastically. On the other hand, VR classes gives students a chance to be more directly invested. It has developed a questioning attitude. VR also leaves room for ample communication between students, helping them become more social. Many MBA programmes, including Stanford University Graduate School of Business are planning to incorporate VR in their curriculum. Moreover, VR is making profitable impact in healthcare. For instance, in year 2021, the FDA approved prescription-use EaseVRx for the treatment of pain reduction in adults. The system uses cognitive behavioural therapy and other behavioural principles such as deep relaxation, attention-shifting, interoceptive awareness, and others, to aid in the reduction of chronic pain. Thus, VR is playing vital role in pain relief mechanism. Students of medicine can better prepare themselves for being in the operating theatre.
Thus, it is not inappropriate to say that future is here as VR is definitely changing the way of life.
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Key Developments:
Meta has developed new features for the Quest 1:
Meta is planning to stop supporting the original Quest VR headset with new software updates.
Microsoft and Meta partner to deliver immersive experiences for the future of work and play:
Microsoft and Meta are exploring ways to bring Xbox Cloud Gaming to Meta Quest Store, allowing gamers to stream hundreds of high-quality Xbox games to phones, tablets, PCs, select smart TVs, and the Meta Quest platform.
Samsung is ready to launch mixed reality headset in 2023:
Samsung is expected to re-enter the XR market in 2023 to prepare for Apple’s headset launch. The company does not want to fall behind the competition in case the market grows faster due to Apple’s involvement. Samsung has completed several prototypes and is currently testing samples.
Top Companies Market Share in Virtual Reality Industry: (In no particular order of Rank)
If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.
North America and Asia Pacific are accounted for significant market share owing to extended use of VR technology in countries like, U.S., Japan, China, and Australia. Introduction of 5G services and high advancement in technology, adaptability of such technology in these countries is high. Moreover, technologically friendly firms, such as Apple, Inc.; Microsoft; Magic Leap; and Google LLC have significant presence in U.S., which gradually supports market for VR. Europe is estimated to show highest CAGR during the forecast period. This can be attributed with the high presence of gaming industry. Moreover, healthcare and architecture industry are booming in Europe, which will stimulate extensive use of VR headsets and technology.
The current report Scope analyzes Virtual Reality Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com
The above graph is for illustrative purposes only.
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Global Virtual Reality Market Report 2024 Edition talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing Virtual Reality Industry growth. Virtual Reality market has been segmented with the help of its Type, Application Offering, and others. Virtual Reality market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.
Fully immersive VR delivers highest level of virtual reality, allowing complete immersing of user in the stimulated 3D world. It incorporates sound, sight and even touch. Users wear special equipment such as helmets, goggles or gloves and are able to fully interact with the environment. Thus, demand for experiencing fully immersive VR is increasing and will show lucrative opportunities in near future.
The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Virtual Reality Industry. Request a Free Sample PDF!
VR has already had an impact on gaming and entertainment industry; however, VR has several uses for healthcare practitioners, researchers and patients. Professionals can better prepare themselves for being in the operation theatre. Companies like Osso VR enable surgeons to interact with medical devices in VR and practice surgery on virtual bodies, helping to increase familiarity with new devices and proficiency in implanting them.
Moreover, in the treatment of mental health issues, VR is actually showing great impact. There are many other ways spending time in VR can have therapeutic benefits. Hence, application of VR in healthcare sector will grow at the highest growth rate during the forecast period.
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In terms of offering, hardware segment accounted for the largest revenue share owing to high usage of tablets and smartphones. High adaption of VR headsets in various applications, including medical, retail, architect, and many others is driving the hardware offerings.
Senior Research Analyst at Cognitive Market Research
ResearchGate Profile: https://www.researchgate.net/profile/Kalyani-Raje
An optimistic Senior Research Analyst with years of experience in competitive assessment and business consulting. A seasoned professional and subject-matter expert (SME) in the Automobile and transportation vertical.
With a work experience of over 10+ years in the market research and strategy development. I have worked with diverse industries, including FMCG, IT, Telecom, Automotive, Electronics and many others. I also work closely with other departments such as sales, product development, and marketing to understand customer needs and preferences, and develop strategies to meet those needs.
I am committed to staying ahead in the rapidly evolving field of research and analysis. This involves regularly attending conferences, participating in webinars, and pursuing additional certifications to enhance my skill set. I played a crucial role in conducting market research and competitive analysis. I have a proven track record of distilling complex datasets into clear, concise reports that have guided key business initiatives. Collaborating closely with multidisciplinary teams, I contributed to the development of innovative solutions grounded in thorough research and analysis.
Our study will explain complete manufacturing process along with major raw materials required to manufacture end-product. This report helps to make effective decisions determining product position and will assist you to understand opportunities and threats around the globe.
The Global Virtual Reality Market is witnessing significant growth in the near future.
In 2023, the Non immersive Reality segment accounted for noticeable share of global Virtual Reality Market and is projected to experience significant growth in the near future.
The Medicine segment is expected to expand at the significant CAGR retaining position throughout the forecast period.
Some of the key companies Facebook/Oculus VR, Microsoft HoloLens and others are focusing on its strategy building model to strengthen its product portfolio and expand its business in the global market.
Please note, we have not disclose, all the sources consulted/referred during a market study due to confidentiality and paid service concern. However, rest assured that upon purchasing the service or paid report version, we will release the comprehensive list of sources along with the complete report and we also provide the data support where you can intract with the team of analysts who worked on the report.
Disclaimer:
Type | Non immersive Reality, Fully immersive Reality, Semi-immersive Reality, Augmented Reality, Collaborative Reality, Web Based Reality |
Application | Medicine, Education, Architecture, Military, Entertainment, Tourism, Healthcare, Sport, Construction, Engineering, Media, Others |
Offering | Hardware, Software |
List of Competitors | Facebook/Oculus VR, Google, Microsoft HoloLens, Magic Leap, HTC Vive, Samsung Gear VR, WorldViz, Bricks Goggles, Marxent Labs, Snap |
This chapter will help you gain GLOBAL Market Analysis of Virtual Reality. Further deep in this chapter, you will be able to review Global Virtual Reality Market Split by various segments and Geographical Split.
Chapter 1 Global Market Analysis
Global Market has been segmented on the basis 5 major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
You can purchase only the Executive Summary of Global Market (2019 vs 2024 vs 2031)
Global Market Dynamics, Trends, Drivers, Restraints, Opportunities, Only Pointers will be deliverable
Chapter 2 North America Market Analysis
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Qualitative Analysis for the North America Market: North America Virtual Reality Market Trends North America Virtual Reality Technological Road Map North America Virtual Reality Market Drivers North America Virtual Reality Market Restraints North America Virtual Reality Market Opportunity Market Attractiveness Analysis COVID – 19 Impact Analysis PESTEL Analysis Porter’s Five Forces Analysis Product Life Cycle Industrial Chain Analysis
You can purchase only the Executive Summary North America Market (2019 vs 2024 vs 2031)
Chapter 3 Europe Market Analysis
You can purchase only the Executive Summary Europe Market (2019 vs 2024 vs 2031)
Chapter 4 Asia-Pacific Market Analysis
You can purchase only the Executive Summary Asia Pacific Market (2019 vs 2024 vs 2031)
Chapter 5 South America Market Analysis
You can purchase only the Executive Summary South America Market (2019 vs 2024 vs 2031)
Chapter 6 Middle East and Africa Market Analysis
You can purchase only the Executive Summary Middle East and Africa Market (2019 vs 2024 vs 2031)
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Chapter 7 Top 10 Countries Analysis (Only Available with Corporate User License)
Competitor's Market Share and Revenue (Subject to Data Availability for Private Players)
Chapter 8 Competitor Analysis (Subject to Data Availability (Private Players))
(Subject to Data Availability (Private Players))
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Chapter 9 Qualitative Analysis (Subject to Data Availability)
Segmentation Type Analysis 2019 -2031, will provide market size split by Type. This Information is provided at Global Level, Regional Level and Top Countries Level The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 10 Market Split by Type Analysis 2019 -2031
The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 11 Market Split by Application Analysis 2019 -2031
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Chapter 12 Market Split by Offering Analysis 2019 -2031
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global Virtual Reality market
Chapter 13 Research Findings
Here the analyst will summarize the content of entire report and will share his view point on the current industry scenario and how the market is expected to perform in the near future. The points shared by the analyst are based on his/her detailed in-depth understanding of the market during the course of this report study. You will be provided exclusive rights to interact with the concerned analyst for unlimited time pre purchase as well as post purchase of the report.
Why Non immersive Reality have a significant impact on Virtual Reality market? |
What are the key factors affecting the Non immersive Reality and Fully immersive Reality of Virtual Reality Market? |
What is the CAGR/Growth Rate of Medicine during the forecast period? |
By type, which segment accounted for largest share of the global Virtual Reality Market? |
Which region is expected to dominate the global Virtual Reality Market within the forecast period? |
Segmentation Level Customization |
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Global level Data Customization |
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Region level Data Customization |
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Country level Data Customization |
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Company Level |
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Additional Data Analysis |
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Additional Qualitative Data |
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Additional Quantitative Data |
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Service Level Customization |
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Report Format Alteration |
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