Virtual Reality Market: Size, Business Growth, Industry Top Companies Share, Revenue, and Forecast

According to the latest report by IMARC Group, titled ” Virtual reality (VR) Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026″, the global Virtual reality (VR) Market size exhibited strong growth during 2015-2020. Looking forward, IMARC Group expects the global virtual reality market to grow at a CAGR of around 31% during 2021-2026. Virtual reality (VR) refers to a digitally generated simulation that facilitates interaction in an artificial 3D environment. It involves specialized goggles with display screens, gloves, and bodysuits equipped with sensors that provide a realistic experience. VR merges software, hardware, and sensory inputs to achieve a sense of presence through fully, non-, and semi-immersive films. This technology is widely employed in instructive training of engineers, armed forces, pilots, field workers, and technicians across different industries, such as gaming, retail, healthcare, entertainment, travel, aerospace, etc.

As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviors of the consumers globally–our estimates about the latest market trends and forecast values after considering the impact of this pandemic. These observations will be integrated into the report.

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Market Trends:

The rising penetration of industry 5.0 trends and the extensive adoption of VR in the gaming and entertainment sectors are primarily driving the virtual reality market. Moreover, continuous innovations by sports-based game developers, such as inclusion of sensor-enabled tennis racquets for playing a computer-controlled game simulation in an enclosed space, are also augmenting the market growth. Furthermore, VR provides a first-hand experience of in-traffic driving scenarios to learners on-road and familiarizes them with the accelerator, steering wheel, and brakes of the vehicle, which is also propelling the market growth.

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Key Market Segmentation:

Competitive Landscape with Key Player:

CyberGlove Systems Inc.

Eon Reality Inc.

Google LLC (Alphabet Inc.)

HTC Corporation

Microsoft Corporation

Oculus VR LLC (Facebook Inc.)

Samsung Electronics Co. Ltd.

Sixense Enterprises Inc.

Sony Corporation

StarVR Corp (Acer Inc.)

Ultraleap Ltd.

Unity Software Inc.

Breakup by Device Type:

Head-Mounted Display

Gesture-Tracking Device

Projectors and Display Wall

Breakup by Technology:

Semi and Fully Immersive

Non-Immersive

Breakup by Component:

Hardware

Software

Breakup by Application:

Aerospace and Defense

Consumer

Commercial

Enterprise

Healthcare

Others

Breakup by Region:

North America

Asia-Pacific

Europe

Latin America

Middle East and Africa

Key Highlights of the Report:

Market Performance (2015-2020)

Market Outlook (2021- 2026)

Porter’s Five Forces Analysis

Market Drivers and Success Factors

SWOT Analysis

Value Chain

Comprehensive Mapping of the Competitive Landscape

If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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