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Global Virtual Reality Market By Device Type (Head-Mounted Displays, Gesture-Tracking Devices, Projectors & Display Walls), By Component (Hardware, Software Development, Content), By Application, By Region, Forecast & Opportunities to 2026

The global virtual reality market accounted for a value of 5.4 billion in 2019. Virtual reality market is projected to register growth at a CAGR of 20.9% during forecast period.

COVID-19 has impacted all the businesses over the globe. The number of cases is increasing around the world and this generated demand for large number of healthcare facilities and medical devices to treat patients around the world. The healthcare facilities is expanding across the world and improving their infrastructure which leads to rise in demand for virtual reality across the world.

Definition:

Virtual reality can be as a simulated experience which can be similar to real world. It is a computer generated reality. It is majorly used in entertainment and educational purposes. The virtual reality used in head mounted displays which enhances gaming experience of consumers.

Market Dynamics (Drivers/Opportunities):

The gaming and entertainment sector utilizes virtual reality in head mounted display. The technological evolution in gaming industry resulted in evolution of virtual reality and 3D technology. The head mounted display helps in creating a fully immersive experience for users. VR has helped in taking gaming experience to next level which drives growth in virtual reality segment during forecast period.

The HMDs are majorly used in the video gaming sector. The video game users prefer HMDs which enhances the player’s experience. HMDs are used to project digital images and provide 3D images. The demand for VR in gaming sector is increasing and this is likely to drive growth in virtual reality segment during forecast period.

Market Insights, by Device Type

On the basis of device type, the virtual reality market is segmented into head-mounted displays, gesture-tracking devices and projectors & display walls. The head-mounted displays estimated to hold largest market share during forecast period. The virtual reality utilizes head-mounted displays at large scale than other devices. It is used in virtual reality games which help players play in a simulated environment. The gaming industry is growing immensely. This drives growth in HMDs segment during forecast period.

Market Insights, by Application

On the basis of application, the virtual reality market is segmented into consumer, commercial, enterprise, healthcare, Aerospace and others. The consumer application is estimated to register growth at highest CAGR during forecast period. The consumer segment includes entertainment applications and gaming. The gaming industry use VR at large scale and it is the fastest growing market industry. The VR utilized into gaming and entertainment segment creates a whole new virtual world for users. The demand for VR in gaming and entertainment segment is increasing and this drives growth in consumer application during forecast period.

Market Insights, by Components

On the basis of components, the virtual reality market is segmented into hardware, software development and content. The hardware segment is estimated to dominate the market during forecast period. The demand and adoption of smart phones and other electronic devices is increasing which utilizes the virtual reality. This drives growth in hardware segment during forecast period.

Regional Insights

North America region accounted for largest market share in 2018. The adoption of new and improved technologies is growing immensely in this region. This region is home for many virtual reality companies. U.S. is the largest contributor of growth in VR market in this region.

Asia-Pacific region is estimated to register growth at highest CAGR during forecast period. The adoption of technological advanced solutions is increasing in this region. The end-use industries are utilizing virtual reality rapidly in this region. The demand for smartphones and electronics devices is growing immensely. This drives growth in Asia-Pacific region during forecast period.

Key Companies & Market Share Insights

The key market players in virtual reality market are Google, Microsoft, Sony, Samsung Electronics, HTC, EON Reality, Vuzix, Cyberglove Systems, Leap Motion, Sixense Enterprises, Psious, Nintendo, Mindmaze, Worldviz and Firsthand Technology.

Segments Covered in the Report

This report forecasts The Global Virtual Reality Market, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2020 to 2026. For the purpose of this study, Our Company has segmented the global virtual reality market report on the basis of device type, component and application.

Virtual Reality Market Size & Forecast (2017-2026)

  1. Research Framework
    • Market Definition and Product Overview
    • Market Segmentation
  2. Research Methodology
    • Qualitative Research
      • Primary & Secondary Sources
    • Quantitative Research
      • Primary & Secondary Sources
    • Breakdown of Primary Research Respondents, By Region
      • Secondary Research
      • Primary Research
    • Breakdown of Primary Research Respondents, By Industry Participants
      • Market Size Estimation
      • Assumption for the Study
      • Market Breakdown & Data Triangulation
  1. Executive Summary
    • Market Snapshot
  2. Industry Insights
    • Industry ecosystem analysis
      • Value Chain Analysis
    • Industry impact and forces
      • Growth Drivers
      • Challenges &Restraints
      • Opportunities
    • Disruptive Technological Analysis
    • Regulatory framework
      • North America
      • Europe
      • Asia Pacific
      • Middle East & Africa
      • South America
    • Growth potential analysis, 2019
    • Porter’s Five forces analysis
    • Pricing Analysis
      • North America
      • Europe
      • Asia Pacific
      • Middle East & Africa
      • South America
  1. COVID – Impact Analysis
    • North America
    • Europe
    • Asia Pacific
    • Middle East & Africa
    • South America
  2. Virtual Reality Market, By Device Type , Market Size & Forecast To 2026

(USD Million 2017,2018, 2019, 2020, 2021-e-2026-p)

  • Introduction
  • Head-Mounted Displays
  • Gesture-Tracking Devices
  • Projectors & Display Walls
  1. Virtual Reality Market, By Component, Market Size & Forecast To 2026

(USD Million 2017,2018, 2019, 2020, 2021-e-2026-p)

  • Introduction
  • Hardware
  • Software Development
  • Content
  1. Virtual Reality Market, By Application, Market Size & Forecast To 2026

(USD Million 2017,2018, 2019, 2020, 2021-e-2026-p)

  • Introduction
  • Consumer
  • Commercial
  • Enterprise
  • Healthcare
  • Aerospace
  1. Virtual Reality Market, By Region, Market Size & Forecast To 2026

(USD Million 2017,2018, 2019, 2020, 2021-e-2026-p)

  • Introduction
  • North America Market Size & Forecast To 2026
    • Market Overview
    • COVID-19 Impact
    • By Device Type
    • By Component
    • By Application
    • By Country
      • USA
        • By Application
      • Canada
      • Mexico
    • South America Market Size & Forecast To 2026
      • Market Overview
      • COVID-19 Impact
      • By Device Type
      • By Component
      • By Application
      • By Country
        • Brazil
          • By Application
        • Argentina
        • Chile
        • Rest of South America
      • Europe Market Size & Forecast To 2026
        • Market Overview
        • COVID-19 Impact
        • By Device Type
        • By Component
        • By Application
        • By Country
          • UK
            • By Application
          • Germany
          • France
          • Italy
          • Rest of Europe
        • APAC Market Size & Forecast To 2026
          • Market Overview
          • COVID-19 Impact
          • By Device Type
          • By Component
          • By Application
          • By Country
            • China
              • By Application
            • India
            • Japan
            • South Korea
            • Australia
            • Rest of APAC
          • Middle East & Africa Market Size & Forecast To 2026
            • Market Overview
            • COVID-19 Impact
            • By Device Type
            • By Component
            • By Application
            • By Country
              • Saudi Arabia
                • By Application
              • UAE
              • Qatar
              • Kuwait
              • South Africa
              • Rest of Middle East & Africa
  1. Competitive Landscaping
    • Competitive Benchmarking
      • Market Share Analysis, 2019
      • Global Presence and Growth Strategies
        • Mergers & Acquisitions
        • New Product Launches
        • Investments Trends
        • R&D Initiatives
  1. Company Profile
    • Firsthand Technology
      • Company Overview
      • Financial Overview
      • Product Portfolio
      • Recent Developments
      • SWOT Analysis
      • Strategic Outlook
    • Google
    • Microsoft
    • Sony
    • Samsung Electronics
    • HTC
    • EON Reality
    • Vuzix
    • Cyberglove Systems
    • Leap Motion
    • Sixense Enterprises
    • Psious
    • Nintendo
    • Mindmaze
    • Worldviz
  2. Appendix
    • Interrelated Market

Research Methodology

1.1     Research Methodology

The process of market research at PAN Market Consulting is very intuitive being iterative in nature and usually follows the path where Information gathered from secondary research is used to build data models, which are than validated from primary participants. Then same cycle repeats where, according to inputs from primary participants, additional secondary research is done, and new information type is again incorporated into data model. The process continues till desired level of information is not generated.

To calculate the market size, the report considers the revenue generated from the sales of the product/services. The revenue generated from the sales of product/services has been calculated through primary and secondary research. The report also analyses the key players operating in the market at the global level which are identified through secondary research and a corresponding detailed analysis of the top vendors in the market. The market size calculation also includes product segmentation determined using secondary sources and verified through primary sources.

1.2     Secondary Research

The secondary research source that are typically referred to include, but are not limited to:

  • Company websites, annual reports, financial reports, broker reports, investor presentations and SEC filings
  • Internal and external proprietary databases, relevant patent and regulatory databases
  • National government documents, statistical databases and market reports
  • News articles, press releases and web-casts specific to the companies operating in the market

The source for secondary research includes but is not limited to Factiva, Hoovers and Statista

SecondaryResearch

1.3     Primary Research

We conduct primary interviews on an ongoing basis with industry participants and commentators in order to validate data and analysis. A typical research interview fulfills the following end users:

  • It provides first-hand information on the market size, market trends, growth trends, competitive landscape, future outlook etc.
  • Helps in validating and strengthening the secondary research findings
  • Further develops the analysis team’s expertise and market understanding
  • Primary research involves E-mail interactions, telephonic interviews as well as face-to-face interviews for each market, category, segment and sub-segment across geographies

The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: CEOs, VPs, marketing/ product managers, market intelligence managers and national sales managers
  • Purchasing managers, technical personnel, distributors and resellers
  • Outside experts: Investment bankers, valuation experts, research analysts specializing in specific markets
  • Key opinion leaders specializing in different areas corresponding to different industry end users

1.4     Models

Where no hard data is available, we use modeling and estimates in order to produce comprehensive data sets. A rigorous methodology is adopted in which the available hard data is cross referenced with the following data products to produce estimates:

  • Demographic data: Population split by segment
  • Macro-economic indicators: GDP, etc.
  • Industry indicators: Expenditure, product stage & infrastructure, sector growth and facilities.

Data is then cross checked by the expert panel.

1.4.1 Company Share Analysis Model

Company share analysis is used to derive the size of global market. As well as study of revenues of companies for last three to five years also provide the base for forecasting the market size and its growth rate. This model is built in following steps:

ResearchMethodology1

1.4.2 Revenue Based Modeling

Revenue based models can be built in two ways – Top-Down or Bottom-Up irrespective of industry. Market size estimated from company share analysis acts as a validation point for bottom-up approach whereas it acts as starting point for top-down approach.

ResearchMethodology2

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