Virtual Reality (VR) Headset Market Size & Share to Surpass $5.88 Billion by 2030 | Vantage Market Research


WASHINGTON, May 24, 2023 (GLOBE NEWSWIRE) -- The Global Virtual Reality Headset Market is valued at USD 4.1 Billion in 2022 and is projected to reach a value of USD 5.88 Billion by 2030 at a CAGR (Compound Annual Growth Rate) of 5.3% over the forecast period 2023-2030.

Market Overview

The widespread use of virtual reality technology in the manufacturing and retail industries promotes market expansion. Another aspect boosting industry growth is the rising demand for gaming consoles. The use of virtual reality technology in various fields, including education, medical training, and industrial prototyping, has enormous promise. Over the projected period, organizations and consumers are expected to increase their investments in this technology. The new trends in virtual reality technology directly impact the advances in the Virtual Reality Headset market.

We forecast that the high-end device category in Virtual Reality Headset Market sales will account for more than 52% by 2030. The advantages of these gadgets, including their cheaper costs and highly immersive experiences, can be credited with this growth. The entry-level equipment is reasonably priced and available to regular individuals who merely want to try out the most basic VR technology.

Get Access to Free Sample Research Report with Latest Industry Insights @ https://www.vantagemarketresearch.com/virtual-reality-headset-market-2125/request-sample

Market Dynamics

Demand for Improved Quality Pictures to Support Market Expansion
Virtual reality technology has advanced as a result of the rising demand for effective and high-quality images. The market for Virtual Reality Headsets is anticipated to develop as a result of rising smartphone penetration globally and rising tech awareness. On the other hand, a significant aspect that can restrain market expansion is the worry about the quality of the visual effects produced by the VR headset. Furthermore, the cost and length of time required to develop VR headset devices is an issue that could limit the market's expansion. The inclusion of AI and machine learning in VR is probably going to increase demand for the technology. The major firms in the sector are consistently spending money on R&D to create cutting-edge devices.

Increased Adoption of VR Across Virtual Events in Virtual Reality Headset Market Industry to Drive Market Growth
Following Covid-19, corporations have turned to internet channels to go on with their business operations. The industry is also expanding as a result of the rising use of VR technology in virtual events, which enables companies to connect with potential customers where they are most comfortable by providing a lifelike experience of their goods and services. The demand for VR head-mounted devices is rising as a result of the expanding product usage in the gaming and entertainment sectors (HMDs). Businesses are constantly releasing cutting-edge gadgets to provide immersive entertainment experiences and an unmatched level of realism in VR gaming. To improve their product offerings and acquire a competitive edge, the major industry players are acquiring gaming businesses.

Top Players in the Global Virtual Reality Headset Market

  • Carl Zeiss AG (Germany)
  • Facebook Technologies LLC (California, U.S.)
  • Google LLC (U.S.)
  • HTC Corporation (Taiwan)
  • LG Electronics Inc. (South Korea)
  • Microsoft Corporation (U.S.)
  • Razer Inc. (U.S.)
  • FOVE Inc. (Japan)
  • Valve Corporation (U.S.)
  • HP Inc. (U.S.)

Budget Limitation? Contact us for Special Discount and Pricing

Top Trends in Global Virtual Reality Headset Market

  • One trend that Vantage Market Research (VMR) expects to see in the Virtual Reality Headset industry is the rising prevalence of AI technology. The expanding prevalence of AI technology in VR applications also increases the intelligence of virtual characters, creating a rich, immersive experience. Any standalone headset now has 6DoF controller tracking due to Google's machine learning techniques. In parallel, LG employs AI to reduce motion sickness in VR users, and Facebook's DeepFocus framework uses AI to produce focus effects in VR. The top two tech companies in China, Baidu and Tencent, are also focusing on incorporating AI and VR into video games and mobile applications.

  • Another trend that VMR predicts will continue in the Virtual Reality Headset industry is its growing adoption across educational fields. Teachers are increasingly utilising virtual reality technology to deliver a higher calibre of teaching in a variety of educational settings. For instance, the introduction of VR in education has given students the opportunity to immerse themselves in the realm of VR technology. Furthermore, the technology offers pupils a more visually appealing and engaging education that may be delivered for less money.

Top Report Findings

  • The High-End Device category controls most of the Virtual Reality Headset market's revenue based on Application. The development of this market is anticipated to be fuelled by the sophisticated characteristics of these devices, including superior visual effects, self-tracking, and high performance. Large firms mostly use high-end equipment to give their clients and staff higher-quality services. The viewers' experience is enhanced, and the resolution is great thanks to these gadgets' extensive use of cutting-edge technology. Throughout the upcoming years, their demand is projected to increase due to ongoing investments in high-end devices by major firms including HP Inc., Facebook Technologies, LLC (Oculus), and Google LLC.

  • Based on the Product Type, most of the Virtual Reality Headset market's revenue is controlled by Standalone Device. A Standalone Device provides an excellent experience at a reasonable cost. Its primary characteristic is the incorporation of diverse methods, such as hardware and processor control, into a single system. The segment's growth is being fueled by the leading companies' availability of a range of application-oriented devices with varying features and pricing points.

  • Based on Application, most of the Virtual Reality Headset market's revenue is controlled by Gaming. Additionally, gaming VR headsets come with cutting-edge technologies that can even track eye movements and communicate them to the game for an improved experience. In turn, this is anticipated to fuel segment expansion throughout the course of the forecast year. Compared to customers who are not gamers, gamers spend more money on average to upgrade their gaming consoles or desktops. This has prompted businesses to market VR headset games at competitive prices for players.

Buy this Premium Research Report with Discount | Immediate Delivery @ https://www.vantagemarketresearch.com/buy-now/virtual-reality-headset-market-2125/0

Recent Developments in the Global Virtual Reality Headset Market

  • January 2023: Facebook Technologies, LLC (Oculus) has expanded their cooperation as the NBA and WNBA's official {{keyword}} partner. This collaboration is expected to provide a professional basketball experience in virtual reality.
  • January 2022: Microsoft Corp. announced the acquisition of Activision Blizzard Inc., a game developer and interactive entertainment content publisher based in the United States, for USD 68.7 billion. Similarly, HW Holdco, LLC, a housing market solution provider based in the United States, announced the acquisition of Alpha Vision. The target company is a technology company based in Canada that provides interactive floor plans, digital site maps, 3D and virtual reality home renderings, and sales interaction tools to the home building and real estate industries.
  • In 2022: Shanghai-based DPVR, a manufacturer of virtual reality devices, has introduced the DPVR 4G/5G for its all-in-one VR headsets. The new module, according to the business, is intended to make it possible for sectors including training, healthcare, education, and conferences to incorporate VR headsets in circumstances that call for mobile usage or remote working. The new DPVR is compatible with 2G, 3G, 4G, and 5G frequency bands globally.

Gaming Category of the Application Segment of the Global Virtual Reality Headset Market Expected to Generate a Considerable Amount of the Total Segment Revenue
For better understanding, based on the Application, the Virtual Reality Headset Market is divided into Gaming, Healthcare, Media & Entertainment, Manufacturing, Retail, Education, Telecommunications, and Other Applications.

The Gaming category is anticipated to dominate the market over the forecast period. Growth of the segment is because VR technology has achieved significant acceptance and awareness. New businesses have emerged in this industry as a result of recent technical developments. This market is seeing the emergence of many companies that are trying to steer it towards widespread adoption in the gaming industry. By 2025, 216 million people are anticipated to play AR and VR games globally, according to NewGenApps.

The Education segment is predicted to have the fastest growth. The increased product deployment in educational facilities and medical schools is to blame for this. Furthermore, the development of virtual reality technology in the healthcare industry and supportive government rules for facility enhancement are fostering the segment's growth. Further boosting the expansion of the healthcare sector is the expanded usage of these headsets for training medical students and supporting doctors and surgeons with patient care, robotic surgeries, mental health and psychological therapies, and pain management and physical therapies.

Asia Pacific Region of the Global Virtual Reality Headset Market Anticipated to Generate a Good Amount of the Total Global Revenue
Due to rising digitalization and advancements in virtual reality technology, notably in the gaming and entertainment industry, Asia Pacific is predicted to have the greatest CAGR. China gained the greatest revenue share in the local market. This is linked to the introduction of 5G and legislative backing for advancements in virtual reality from the Chinese government. Virtual reality technology is being widely used by the major businesses in the area for a variety of purposes, which is helping the expansion of the local market. For instance, China unveiled its virtual reality strategy in November 2022, outlining its plans to export over 25 million VR devices worth over USD 45 million by the end of 2026.

Due to the high levels of disposable income and declining costs of VR headsets with displays and processors in the region, North America accounted for a sizeable portion of global sales. Due to the presence of major players like Microsoft Corporation, Google LLC, and Facebook Technologies, LLC (Oculus), as well as their significant investments in VR technology, the U.S. is a significant contributor to the regional market's growth.

Browse market data Tables and Figures spread through 141 Pages and in-depth TOC on Virtual Reality Headset Market Forecast Report (2023-2030).              

Global Virtual Reality Headset market segmentation

By End-device

  • Low-end Device
  • Mid-range Device
  • High-end Device

By Product Type

  • Standalone
  • Smartphone-enabled
  • Standalone PC-connected

By Application

  • Gaming
  • Healthcare
  • Media & Entertainment
  • Manufacturing
  • Retail
  • Education
  • Telecommunications
  • Other Applications

By Region

  • North America
    • United States
    • Canada
    • Mexico
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • South-East Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Argentina
    • Rest of Latin America
  • Middle East & Africa
    • GCC Countries
    • South Africa
    • Rest of MEA

Read Full Report with TOC @ https://www.vantagemarketresearch.com/industry-report/virtual-reality-headset-market-2125

Scope of the Report:    

Report AttributesDetails
Market Size in 2022USD 4.1 Billion
Revenue Forecast by 2030USD 5.88 Billion
CAGR5.3% from 2023 to 2030
Base Year2022
Forecast Year2023 to 2030
Key PlayersCarl Zeiss AG, Facebook Technologies LLC, Google LLC, HTC Corporation, LG Electronics Inc., Microsoft Corporation, Razer Inc., FOVE Inc., Valve Corporation, HP Inc.
Customization OptionsCustomized purchase options are available to meet any research needs. Explore customized purchase options https://www.vantagemarketresearch.com/virtual-reality-headset-market-2125/request-sample

Browse More Reports from Vantage Library:

About Vantage Market Research:            

We, at Vantage Market Research, provide quantified B2B high quality research on more than 20,000 emerging markets, in turn, helping our clients map out constellation of opportunities for their businesses. We, as a competitive intelligence market research and consulting firm provide end to end solutions to our client enterprises to meet their crucial business objectives. Our clientele base spans across 70% of Global Fortune 500 companies.

Follow Us on: LinkedIn | Twitter | Facebook | YouTube

Contact us

Eric Kunz

6218 Georgia Avenue NW Ste 1 - 564

Washington DC 20011-5125

United States Tel: +1 202 380 9727

Email: sales@vantagemarketresearch.com

Website:

https://www.vantagemarketresearch.com/

Latest Vantage Market Research Press Releases

Latest Vantage Market Research Blog

Vantage Market Research All Reports

Blog: