Pune, Jan. 23, 2023 (GLOBE NEWSWIRE) -- The report analysed by Maximize Market research, on “Virtual Reality Market”, covers an extensive business environmental analysis, regulatory landscape, and value chain analysis. Over the forecast period, Maximize Market research estimates Virtual Reality Market size valued at US$ 22.12 Bn. in 2021 and the total Virtual Reality revenue is expected to grow at 15.5% from 2022 to 2029, reaching nearly US$ 70.06 Bn.
Virtual Reality Market Scope and Research Methodology
The report on Virtual Reality Market uses a combination of primary and secondary research for Virtual Reality Market estimates and forecast. Secondary research forms the initial phase of market research where MMR conduct extensive data mining and refer to verified data sources such as independent studies, government & regulatory published material, technical journals, trade magazines, and paid data sources. For forecasting market, several parameters are considered like drivers and restraints along with their current and expected impacts, band type scenario and expected developments, application industry trends and dynamics and trends in consumer behaviour.
The report provides the Virtual Reality Market value for the base year 2021 and a yearly forecast until 2029 in terms of revenue (USD Billion). The market for each product and application has been provided on a regional basis for the forecast period. The key industry dynamics, regulatory scenario, and application markets are evaluated to understand their impacts on the product demand over the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis. MMR used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, and trends for various products, applications, and end uses. The global Virtual Reality Market has been estimated by integrating the regional markets. All market estimates and forecasts have been validated through primary interviews with the key market players.
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Virtual Reality Market Dynamics
The development of VR hardware and software that overcomes the limitations of the technology, such as low resolution VR-enabled devices that produce virtual sickness, will be crucial to the future of virtual reality gaming. The market for creating new gaming content, software, and hardware is seeing an increase in investment from investors and virtual reality startups. The development of the virtual reality market is further aided by trends in the industry, such as the increased demand for instructional training in hazardous workplace settings, theme parks, gaming arcades, and virtual simulators.
The production of visuals from either a dynamic or stationary source is the main function of VR-enabled technology. Any delay that causes the actual or perceived reaction time to exceed the necessary response time is referred to as latency. A number of factors, such as an imbalance in the speed of signal processing between the CPU and input or output devices, can contribute to latency in VR applications. The visual quality that the device displays is how users evaluate its quality. When the projection is delayed, the quality of VR-enabled devices as a whole declines.
Virtual Reality Market Segment Analysis
Semi and fully immersive segment is expected to grow highest CAGR of 16.3 % over forecast period. The segment is growing as a result of the persistent surge in demand for VR HMDs. Semi- and fully immersive technologies imitate the architecture of real-world surroundings on a digital platform. It demands the utilisation of challenging simulations, powerful PCs, and high-resolution displays. Students can practise cognitive and physical abilities that they would be unable to do in an educational or therapeutic setting by using VR technology. Semi- and completely immersive technologies have been embraced by the industries of construction, aviation, entertainment, and automobiles.
Likewise, the report will provide an accurate prediction of the contribution of the various segments to the growth of the Virtual Reality market size.
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Virtual Reality Market Regional Insights
Asia Pacific accounted for the highest revenue share of about 38.2% in 2021 thanks to the ongoing advancements in VR technology. China, a prominent distributor of HMDs and other VR-related hardware, saw a considerable increase in the VR market. The market is growing in Southeast Asian nations thanks in part to technological developments.
| Market Size in 2021 | USD 22.12 Bn |
| Market Size in 2029 | USD 70.06 Bn |
| CAGR | 15.5% (2022-2029) |
| Forecast Period | 2022-2029 |
| Base Year | 2021 |
| Number of Pages | 213 |
| No. of Tables | 110 |
| No. of Charts and Figures | 112 |
| Segement Covered | Device, Technology, Component, Application |
| Regional Scope | North America, Europe, Asia Pacific, Middle East and Africa, South America |
| Report Coverage | Market Share, Size & Forecast by Revenue | 2022−2029, Market Dynamics, Growth Drivers, Restraints, Investment Opportunities, and Key Trends, Competitive Landscape, Key Players Benchmarking, Competitive Analysis, MMR Competition Matrix, Competitive Leadership Mapping, Global Key Players’ Market Ranking Analysis. |
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Virtual Reality Market Key Competitors:
Microsoft Corporation(US)
• Sensics, Inc. (US)
• SURVIOS, INC.(US)
• Merge Labs, Inc.(US)
• SpaceVR, Inc. (US)
• Eon Reality, Inc.(US)
• Vuzix Corporation(US)
• Cisco Systems, Inc.(US)
• Google, Inc.(US)
• Oculus VR, Inc.(US)
• Leap Motion, Inc.(US)
• Facebook Technologies, LLC.(US)
• Firsthand Technology Inc.(US)
• WorldViz, Inc.(US)
• CyberGlove Systems Inc.(US)
• Nintendo.(Japan)
• Sony Corporation(Japan)
• SAMSUNG ELECTRONICS CO., LTD.(South Korea)
• Ultraleap Ltd.(UK)
• Psious(Spain)
• HTC Corporation(Taiwan)
Key questions answered in the Virtual Reality Market are:
- Which emerging economies are witnessing a rapid rise in demand for residential structures?
- What factors are expected to drive the demand for roofing materials?
- Which roof material type is expected to emerge as the fastest growing segment?
- Which application segment is expected to hold the largest market share?
- What factors are expected to support the growth of new residential roofing market as well as re-roofing activities?
- Why and how major companies in Virtual Reality Market are adopting strong market positioning startegies?
- What strategies are implimented by major companies to achieve a competitive advantage over local manufacturers and suppliers?
- What are the current manufacturing and technology trends in the Virtual Reality Market?
- Which regulations are driving or restraining the Virtual Reality Market growth across various countries?
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Key Offerings:
- Virtual Reality Market Current Size and Share, Forecast by Revenue (2022−2029)
- Virtual Reality Market Variables, Trends & Scope, Roofing Materials Value Chain Analysis, Regulatory Framework
- Market Dynamics: Growth Drivers, Market Restraints, Investment Opportunities, Market Challenges and Manufacturing Trends, Technological Trends
- Business Environment Analysis: Supplier Power, Buyer Power, Threat Of New Entrants, Threat Of Substitutes, Competitive Rivalry and Political Analysis, Environmental Analysis, Social Analysis, Technological Analysis, Economical Analysis, Legal Analysis
Maximize Market Research is leading ITC research firm, has also published the following reports:
E-Learning Virtual Reality Market was valued at US$ 70.2 Million in 2021. The Global E-Learning Virtual Reality Market size is expected to grow at a CAGR of 56.25 percent through the forecast period. The upward technology in the global, the classrooms have been taken by virtual forms. Virtual classrooms are becoming the reality in this era.
Augmented Reality and Virtual Reality Market size is expected to reach US$ 280.06 Bn in the year 2029, at a CAGR of 38.1% during the forecast period. the rising penetration of smartphones and tablet computers is widely providing towards the growth of the AR and VR market across the globe.
Virtual Reality Camera Market is expected to reach US $ 5319.7 Mn by 2029, at a CAGR of 25% during the forecast period. Global Virtual Reality Camera Market is expected to witness healthy growth with the CAGR of 25 % during the forecast period.
3D Virtual Reality Glasses Market is expected to grow at a CAGR of 33.85% during the forecast period. Global 3D Virtual Reality Glasses Market is expected to reach US $ 201.7 Mn by 2029. The main factors that are expected to have a positive effect on market growth are the growing usage of 3D virtual reality glasses in the military, healthcare, education and entertainment sectors.
Virtual Reality in Education Market value is projected to reach US$ 38.20 Bn at the end of the forecast period and it is expected to grow at the CAGR of 42.9%. The increasing demand for growing usage of speed internet, social media, smartphones for amongst businesses for accessing media and files from any system will play prominent role in the growth of Virtual Reality in Education market.
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