Westford,USA, July 31, 2023 (GLOBE NEWSWIRE) -- According to SkyQuest's latest global research of the Virtual Reality market, increased adoption in gaming and entertainment, expanding applications in training and simulation, growth in VR-based healthcare and therapy solutions, rising demand for virtual collaboration and remote work tools, integration of VR with e-commerce and online shopping experience, the emergence of standalone and wireless VR devices, advancements in VR content creation and development tools are the market trends promoting the growth.
Browse in-depth TOC on "Virtual Reality Market"
- Pages -270
- Tables - 118
- Figures - 79
Virtual reality (VR) is a computer-generated simulation that creates a realistic and immersive experience. VR headsets are worn on the head and provide users with a 360-degree view of the virtual world. VR can be used for a variety of purposes, including gaming, entertainment, education, and training.
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Prominent Players in Virtual Reality Market
- Meta (formerly Facebook)
- Sony
- HTC
- Valve
- Oculus
- Samsung
- Microsoft
- Nvidia
- Magic Leap
- Baofeng
- Pico Interactive
- DigiLens
- ARHT Media
- Matterport
- Unity
- Epic Games
- Leap Motion
- NextVR
- WeVR
Head-Mounted Display Device Type Demand to Grow Substantially in the Forecast Period
Head-mounted display device type dominated the global market owing to its highly immersive experience. It is also a versatile device used in various industries, including gaming, entertainment, training, education, healthcare, and more. Their compatibility with a broad range of VR applications makes them a popular choice among consumers and businesses.
Gaming and Entertainment is the Leading Application Segment
In terms of application, the gaming and entertainment segment is the leading segment due to the high consumer demand. In addition, gaming and entertainment companies have been investing heavily in developing VR content. Major game developers and studios are creating VR-exclusive games, experiences, and interactive content, attracting a large user base. The availability of diverse and compelling VR content further strengthens the dominance of this segment.
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North America is the leading Market Due to the Technological Advancements
Region-wise, North America is one of the largest growing markets with a huge gaming and entertainment industry. The region has witnessed significant investment and funding in the VR sector. Venture capital firms, private investors, and government initiatives have provided financial support to VR startups, research projects, and technology development in the region. This investment climate has contributed to the growth and dominance.
A recent report thoroughly analyzes the major players operating within the Virtual Reality market. This comprehensive evaluation has considered several crucial factors, such as collaborations, mergers, innovative business policies, and strategies, providing invaluable insights into the key trends and breakthroughs in the market. Additionally, the report has carefully scrutinized the market share of the top segments and presented a detailed geographic analysis. Finally, the report has highlighted the major players in the industry and their ongoing endeavors to develop innovative solutions that cater to the ever-increasing demand for Virtual Reality.
Key Developments in Virtual Reality Market
- In January 2023, Meta partnered with Epic Games to integrate its Horizon Worlds platform with Epic's Unreal Engine
- In February 2023, Microsoft partnered with Unity to integrate its HoloLens platform with Unity's real-time development platform.
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Key Questions Answered in Virtual Reality Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- Can you list the top companies in the market and explain how they have achieved their positions of influence?
- In what ways do regional trends and patterns differ within the global market, and how might these differences shape the market's future growth?
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