Virtual Reality Market with COVID-19 Impact Analysis by Offering (Hardware and Software), Technology, Device Type (Head-Mounted Display, Gesture-Tracking Device), Application (Consumer, Commercial, Enterprise, Healthcare) and Geography - Global Forecast to 2025
[196 Pages Report] The virtual reality market is estimated at USD 6.1 billion in 2020 and is expected to reach USD 20.9 billion by 2025; It is anticipated to grow at a CAGR of 27.9% from 2020 to 2025. Easy availability of affordable VR devices is the key factor driving the adoption of VR devices. The launch of VR devices by local companies in countries such as China and India has helped in making such devices more affordable and driving their widespread adoption.
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Virtual Reality Market Size Forecast to 2025 With COVID-19 Impact Analysis
The outbreak of the COVID-19 pandemic has abruptly generated the requirement of a large number of healthcare facilities to treat an exponentially growing number of infected patients worldwide. Most of the economies of the world at present are focusing on expanding their healthcare facilities. For instance, China has built an emergency hospital with over 1,000 beds, in just 10 days, to treat COVID-19 patients in Wuhan. Such projects are expected to sharply increase the demand for better and advanced healthcare devices.
The impact of this opportunity depends on the potential plans of hospitals for infrastructure expansions, either in the form of establishing new set-ups or retrofitting the existing ones. Moreover, a number of market players consider that the spread of COVID-19 is expected to increase the demand for their VR HMDs in the healthcare sector. For instance, in May 2020, Vuzix Corporation has received a restoration order for M400 Smart Glasses from a provider of invaluable solutions for service, maintenance, and healthcare professionals—Gemvision. The aim of the replenishment order is to support Gemvision’s efforts to meet remote healthcare needs pertaining to COVID-19 in the Netherlands.
Virtual Reality Market Dynamics
Driver: Penetration of HMDs in the gaming and entertainment sector post COVID-19
The use of HMDs has been high in the gaming and entertainment sector. The gaming industry has had a technological evolution with the emergence of VR and 3D technology. The use of HMDs has helped in achieving a fully immersive experience for users and has taken the gaming experience to the next level. The flawless transition achieved with the use of VR HMDs has helped bring in a unique and enhanced experience to the users. HMDs have a high penetration rate in the video gaming sector. Video game users prefer HMDs for enriching experience and entertainment. HMDs project digital images, enabling a 3D view, which enhance the user experience. Therefore, the growing gaming sector would drive the market for HMDs and, in turn, the VR. This market growth is expected, especially in North America and Europe.
The COVID pandemic is expected to support the growth of the VR market. The key players operating in the market are focusing on increasing the sale of their products. For instance, the VR technology of Sony owns some of the largest movie, music, and gaming companies in the world. The company is planning to reshape entertainment delivery during the lockdown and, eventually, post COVID-19. The company is planning to promote VR concerts and other VR entertainment solutions to entertain people. Such initiatives are expected to give a new dimension to the VR business and boost the growth of the market.
Restraint: Display latency and energy consumption affect overall performance of VR devices
The prime function of VR-enabled devices is to generate images from a dynamic or a static source. Latency can be defined as any delay that increases the real or perceived response time compared with the required response time. Certain factors, such as an imbalance in data processing speed between the microprocessor and input or output devices, can cause latency in VR applications. Users perceive the quality of the device on the basis of image quality it displays. A delay in the projection degrades the overall quality of VR-enabled devices.
There will be a deviation of location from the exact position if there is an issue in the measurement of the viewpoint. Thus, the VR system requires a minimal latency to maintain the virtual entity at a stable position. The virtual object should not delay over 15 milliseconds while adapting to a new situation as it causes variation in the position of objects.
Energy consumption is another problem in VR applications. Consumers, especially in the gaming sector, require gadgets with long battery life. Sensors and other network interfaces also consume energy. Due to these complications, VR systems cannot be operated for a long duration.
At present, the impact of this restraint is medium; however, it is expected to be low over the next 3–4 years.
Opportunity: Use of VR in aerospace & defense for training and simulation
The use of VR in aerospace & defense would help users, especially for training and simulation purposes. The use of VR would help in experiential training with data-driven applications and in real-time. This helps improve the efficiency of accurate skills transfer and also increases knowledge retention. VR is used to train the ground crew for pre-flight checks and ground crew procedures before the take-off. VR can be used to inspect the airplane before take-off, thereby ensuring more safety.
Challenge: Developing usr-friendly VR systems
VR technology suppliers and developers face the challenge of developing user-friendly VR and tracking systems. A user-friendly virtual environment allows a user to easily navigate and interact with objects in the virtual environment. The VR system is a combination of hardware and software components. VR devices track a user’s movements through different sensors and array them on the virtual display. The development of VR software and virtual content is a challenging task for developers as the virtual content displayed must satisfy the user’s needs. This would ensure easy acceptance and increase the penetration of VR devices among the masses.
Head-mounted displays held largest share of virtual reality market in 2020
Head-Mounted displays constituted major share of the market as of 2020. The other 2 devices include gesture-tracking devices, and projectors and display walls. The virtual reality games use HMDs to help users play in a simulated environment. The gaming industry is one of the most lucrative industries in this market in the consumer application. The HMD market is expected to witness huge growth in the next 5–6 years owing to the demand for virtual reality video gaming. The use of HMDs and virtual reality by many consumers and technology giants would help drive the growth of the market.
Consumer application to lead virtual reality market from 2020 to 2025
In the market, the consumer sector, which includes gaming and entertainment applications, held the largest share because of the high penetration of this sector in the gaming industry. The immersive technology provided with the use of VR in gaming and entertainment takes a user into a whole new virtual world. Consumer applications would lead the market during the forecast period.
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The VR market is dominated by a few globally established players such as Sony (Japan), Samsung Electronics (South Korea), Google (US), Microsoft (US), HTC (Taiwan), Oculus (US), Eon Reality (US), Vuzix (US), CyberGlove Systems (US), Leap Motion (US), and Sixense Enterprises (US).
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Report Metric |
Details |
|
Market size available for years |
2016–2025 |
|
Base year considered |
2019 |
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Forecast period |
2020–2025 |
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Forecast units |
Value (USD Million) and Volume (Thousand Units) |
|
Segments covered |
By Offering, By Device Type, By Technology, and By Application |
|
Geographies covered |
Asia Pacific, Europe, North America and Rest of World |
|
Companies covered |
The major market players include Sony (Japan), Samsung Electronics (South Korea), Google (US), Microsoft (US), HTC (Taiwan), Oculus (US), Eon Reality (US), Vuzix (US), CyberGlove Systems (US), Leap Motion (US), and Sixense Enterprises (US). |
The study categorizes the VR market based on offering, technology, device type, application at the regional and global levels.
Virtual Reality Market, By Technology
- Nonimmersive
- Semi- and Fully Immersive
Virtual Reality Market, By Offering
- Hardware
- Sensors
- Semiconductor Components
- Displays and Projectors
- Position Trackers
- Cameras
- Others (Computer/video generator and combiner)
- Software
- Software Development Kits
- Cloud-Based Services
- VR Content Creation
Market, By Device Type:
- Head-Mounted Displays
- Gesture-Tracking Devices
- Projectors and Display Walls
Market, By Application:
- Consumer
- Gaming and Entertainment
- Sports
- Gaming and Entertainment
- Commercial
- Retail and Ecommerce
- Education and Training
- Travel and Tourism
- Advertising
- Enterprise
- Healthcare
- Surgery
- Patient Care Management
- Fitness Management
- Pharmacy Management
- Medical Training and Education
- Aerospace & Defense
- Others
- Automotive
- Real Estate (Architecture and Building Design)
- Geospatial Mining
Market, By Region
- North America
- Europe
- Asia Pacific (APAC)
- RoW
Recent Developments
- In March 2020, The Microsoft partnered with HP and Valve to launch a new VR headset in the market that delivers a more immersive and comfortable VR experience to the users.
- In October 2019, The Microsoft is planning to file a patent on the vibrating floor mat for virtual reality. The patent appears to show that the mat will double as a boundary for the VR gaming space.
- In December 2019, Oculus introduced the hand-tracking feature in its Oculus Quest standalone virtual reality headset. The feature will come as part of the Facebook’s latest Quest v12 software update.
Frequently Asked Questions (FAQ):
What is the current size of the global virtual reality market?
The virtual reality market was valued at USD 6.1 billion in 2020 and is expected to reach USD 20.9 billion by 2025, at a CAGR of 27.9% from 2020 to 2025
Who are the winners in the global virtual reality market?
Companies such as Vuzix is working on the medical application of VR is among few winners in the global virtual reality market. During this global lockdown conditions, the company is still receiving contracts for VR devices. For instance, in May 2020, Vuzix Corporation has received a restoration order for M400 Smart Glasses from a provider of invaluable solutions for service, maintenance, and healthcare professionals—Gemvision. The aim of the replenishment order is to support Gemvision’s efforts to meet remote healthcare needs pertaining to COVID-19 in the Netherlands.
What is the COVID-19 impact on virtual reality providers?
The device manufacturers must be prepared for the supply chain disruptions in China. The impact of supply chain disruption might be visible from the next quarter of 2020 as other countries, including the US, India, Germany, and the UK, are also impacted significantly by COVID-19. This is expected to have a potential negative impact on the growth of the VR market in 2020. However, it is expected that the manufacturing sector will gradually return to normal within the next couple of months with improvement in the situation.
Which are expected to opportunity the growth of the virtual reality market in the next five years?
VR is gradually being used for practical purposes. In the medical vertical, HMDs are used mainly in medical training applications. This technology is rapidly gaining importance among medical professionals and is expected to play an important role in assisting doctors and surgeons in the near future. HMDs are widely accepted in the medical vertical. With advanced interfaces, such as HMDs, medical professionals can perform surgeries easily and also provide post-operative care through VR simulation. HMD can thus make the medical sector more proactive in treating patients, and the increase in accuracy is expected in the next 5–7 years.
Which are the major companies in the virtual reality market?
The VR market is dominated by a few globally established players such as Sony (Japan), Samsung Electronics (South Korea), Google (US), Microsoft (US), HTC (Taiwan), Oculus (US), Eon Reality (US), Vuzix (US), CyberGlove Systems (US), Leap Motion (US), and Sixense Enterprises (US) are the players dominating the global virtual reality market. .
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TABLE OF CONTENTS
1 INTRODUCTION (Page No. - 25)
1.1 STUDY OBJECTIVES
1.2 DEFINITION
1.2.1 INCLUSIONS AND EXCLUSIONS
1.3 STUDY SCOPE
1.3.1 MARKETS COVERED
FIGURE 1 MARKET SEGMENTATION
1.3.2 YEARS CONSIDERED
1.4 CURRENCY
1.5 LIMITATIONS
1.6 SUMMARY OF CHANGES
1.7 STAKEHOLDERS
2 RESEARCH METHODOLOGY (Page No. - 30)
2.1 RESEARCH DATA
FIGURE 2 VR MARKET: RESEARCH DESIGN
2.1.1 SECONDARY DATA
2.1.1.1 Secondary sources
2.1.2 PRIMARY DATA
2.1.2.1 Primary interviews with experts
2.1.2.2 Breakdown of primaries
2.1.2.3 Key data from primary sources
2.1.3 SECONDARY AND PRIMARY RESEARCH
2.1.3.1 Key industry insights
2.2 MARKET SIZE ESTIMATION
2.2.1 BOTTOM-UP APPROACH
2.2.1.1 Approach for capturing the market size by bottom-up analysis (demand side)
FIGURE 3 BOTTOM-UP APPROACH TO ARRIVE AT THE MARKET SIZE
2.2.2 TOP-DOWN APPROACH
2.2.2.1 Approach for capturing the market size by top-down analysis (supply side)
FIGURE 4 TOP-DOWN APPROACH TO ARRIVE AT THE MARKET SIZE
2.3 MARKET BREAKDOWN & DATA TRIANGULATION
FIGURE 5 DATA TRIANGULATION METHODOLOGY
2.4 RESEARCH ASSUMPTIONS
3 EXECUTIVE SUMMARY (Page No. - 40)
FIGURE 6 VIRTUAL REALITY MARKET, 2016–2025 (USD MILLION)
FIGURE 7 HEAD-MOUNTED DISPLAYS HELD LARGEST SHARE OF MARKET IN 2020
FIGURE 8 CONSUMER APPLICATION TO LEAD MARKET FROM 2020 TO 2025
FIGURE 9 APAC TO HOLD LARGEST SHARE OF MARKET BY 2025
FIGURE 10 APAC HELD LARGEST SIZE OF VR MARKET FOR CONSUMER APPLICATIONS IN 2019
3.1 COVID-19 IMPACT ON VIRTUAL REALITY MARKET
FIGURE 11 COVID-19 IMPACT ON MARKET
3.1.1 REALISTIC SCENARIO (POST-COVID-19)
3.1.2 OPTIMISTIC SCENARIO (POST-COVID-19)
3.1.3 PESSIMISTIC SCENARIO (POST-COVID-19)
4 PREMIUM INSIGHTS (Page No. - 45)
4.1 ATTRACTIVE MARKET OPPORTUNITIES IN MARKET
FIGURE 12 GROWING CONSUMER APPLICATIONS OF VIRTUAL REALITY TO DRIVE MARKET GROWTH DURING FORECAST PERIOD
4.2 MARKET IN APAC, BY APPLICATION AND COUNTRY
FIGURE 13 CONSUMER APPLICATION AND CHINA TO HOLD LARGEST SHARES OF MARKET IN APAC BY 2025
4.3 MARKET: DEVELOPED VS. DEVELOPING MARKETS, 2020 AND 2025 (USD MILLION)
FIGURE 14 CHINA TO REGISTER HIGHEST CAGR BY 2025
4.4 MARKET, BY APPLICATION
FIGURE 15 CHINA TO GROW AT FASTEST CAGR DURING FORECAST PERIOD
5 MARKET OVERVIEW (Page No. - 47)
5.1 INTRODUCTION
5.2 HISTORY AND EVOLUTION OF VR TECHNOLOGY
FIGURE 16 EVOLUTION OF VR TECHNOLOGY
5.3 MARKET DYNAMICS: VR MARKET
FIGURE 17 HIGH DEMAND FOR VR APPLICATIONS IN GAMING AND ENTERTAINMENT SECTORS TO DRIVE GROWTH OF VR MARKET
5.3.1 DRIVERS
5.3.1.1 Penetration of HMDs in the gaming and entertainment sector post COVID-19
5.3.1.2 High investments in VR market
5.3.1.3 Advancement of technology and growing digitization
5.3.1.4 Availability of affordable VR devices
5.3.1.5 Growing adoption of HMDs in different industries
5.3.2 RESTRAINTS
5.3.2.1 Display latency and energy consumption affect overall performance of VR devices
5.3.2.2 Health concerns relating to low resolution and lack of movement
5.3.2.3 Trade restrictions between the US and China
5.3.3 OPPORTUNITIES
5.3.3.1 Penetration of HMDs in healthcare and architectural applications
5.3.3.2 Use of VR in aerospace & defense for training and simulation
5.3.3.3 Increasing demand for VR HMDs in the healthcare sector attributed to the COVID-19 pandemic
5.3.4 CHALLENGES
5.3.4.1 Developing user-friendly VR systems
5.3.4.2 Adverse impact of lockdowns due to COVID-19 on commercial trade
5.4 VALUE CHAIN ANALYSIS
FIGURE 18 VALUE CHAIN ANALYSIS (2020): MAJOR VALUES ARE ADDED DURING RESEARCH AND PRODUCT DEVELOPMENT, AND MANUFACTURING STAGES
FIGURE 19 ELEMENTS OF VR ECOSYSTEM
5.5 EMERGING TRENDS
5.5.1 MICRODISPLAYS FOR VR
5.5.1.1 LOMID project
5.5.1.2 Kopin’s micro display for VR HMD
5.6 IMPACT OF COVID-19 ON MARKET
6 VIRTUAL REALITY MARKET, BY TECHNOLOGY (Page No. - 56)
6.1 INTRODUCTION
6.2 VIRTUAL REALITY TECHNOLOGY
FIGURE 20 SEMI- & FULLY IMMERSIVE TECHNOLOGIES TO DOMINATE MARKET DURING FORECAST PERIOD
TABLE 1 VR MARKET, BY TECHNOLOGY, 2016–2019 (USD MILLION)
TABLE 2 VR MARKET, BY TECHNOLOGY, 2020–2025 (USD MILLION)
6.2.1 NON-IMMERSIVE TECHNOLOGY
6.2.1.1 Usage of non-immersive technology in VR software development set to drive the market
TABLE 3 VR MARKET FOR NONIMMERSIVE TECHNOLOGY, BY OFFERING, 2016–2019 (USD MILLION)
TABLE 4 VR MARKET FOR NON-IMMERSIVE TECHNOLOGY, BY OFFERING, 2020–2025 (USD MILLION)
6.2.2 SEMI-IMMERSIVE AND FULLY IMMERSIVE TECHNOLOGY
6.2.2.1 Fully immersive technology to be the major driver owing to demand in VR HMDs
TABLE 5 VR MARKET FOR SEMI- AND FULLY IMMERSIVE TECHNOLOGIES, BY OFFERING, 2016–2019 (USD MILLION)
TABLE 6 VR MARKET FOR SEMI- AND FULLY IMMERSIVE TECHNOLOGIES, BY OFFERING, 2020–2025 (USD MILLION)
7 VIRTUAL REALITY MARKET, BY OFFERING (Page No. - 61)
7.1 INTRODUCTION
FIGURE 21 VR MARKET FOR HARDWARE TO REGISTER HIGHER CAGR DURING FORECAST PERIOD
TABLE 7 VR MARKET, BY OFFERING, 2016–2019 (USD MILLION)
TABLE 8 VR MARKET, BY OFFERING, 2020–2025 (USD MILLION)
7.2 HARDWARE
FIGURE 22 MARKET FOR DISPLAYS AND PROJECTORS TO RECORD HIGHEST CAGR DURING FORECAST PERIOD
TABLE 9 VR MARKET, HARDWARE, 2016–2019 (USD MILLION)
TABLE 10 VR MARKET, HARDWARE, 2020–2025 (USD MILLION)
7.2.1 SENSORS
7.2.1.1 Accelerometer
7.2.1.2 Gyroscope
7.2.1.3 Magnetometer
7.2.1.4 Proximity sensor
7.2.2 SEMICONDUCTOR COMPONENTS
7.2.2.1 Controller and processor
7.2.2.2 Integrated circuits
7.2.3 DISPLAYS AND PROJECTORS
7.2.4 POSITION TRACKERS
7.2.5 CAMERAS
7.2.6 OTHERS
7.2.7 IMPACT OF COVID-19 ON HARDWARE MARKET
7.3 SOFTWARE
7.3.1 SDK’S WILL PLAY CRUCIAL ROLE IN VR SOFTWARE MARKET
7.3.1.1 Software development kits
7.3.1.2 Cloud-based services
FIGURE 23 VR SOFTWARE MARKET FOR COMMERCIAL APPLICATION TO RECORD HIGHEST CAGR DURING FORECAST PERIOD
TABLE 11 VR MARKET FOR SOFTWARE, BY APPLICATION, 2016–2019 (USD MILLION)
TABLE 12 VR MARKET FOR SOFTWARE, BY APPLICATION, 2020–2025 (USD MILLION)
7.4 VR CONTENT CREATION
7.4.1 VR CONTENT CREATION IS THE KEY TO STRENGTHEN VR TECHNOLOGY AND GROWTH OF VR HARDWARE DEVICES
7.5 IMPACT OF COVID-19 ON SOFTWARE MARKET
8 VIRTUAL REALITY MARKET, BY DEVICE TYPE (Page No. - 70)
8.1 INTRODUCTION
8.2 VIRTUAL REALITY DEVICES
FIGURE 24 MARKET FOR GESTURE-TRACKING DEVICES TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD
TABLE 13 MARKET, DEVICE TYPE, 2016–2019 (USD MILLION)
TABLE 14 MARKET, DEVICE TYPE, 2020–2025 (USD MILLION)
FIGURE 25 MARKET FOR GESTURE-TRACKING DEVICES TO EXHIBIT HIGHEST CAGR DURING FORECAST PERIOD IN TERMS OF MARKET SHIPMENTS
TABLE 15 MARKET, DEVICE TYPE, 2016–2019 (THOUSAND UNITS)
TABLE 16 MARKET, DEVICE TYPE, 2020–2025 (THOUSAND UNITS)
8.2.1 HEAD-MOUNTED DISPLAYS
8.2.1.1 Use of HMDs in gaming and entertainment is the major driver for growth of VR hardware devices
TABLE 17 VIRTUAL REALITY HMD MARKET, BY APPLICATION, 2016–2019 (USD MILLION)
TABLE 18 VIRTUAL REALITY HMD MARKET, BY APPLICATION, 2020–2025 (USD MILLION)
8.2.1.2 COVID-19 impact on VR HMD market
8.2.2 GESTURE-TRACKING DEVICES
8.2.2.1 Gesture-tracking devices to play a crucial role in healthcare and gaming applications
8.2.2.1.1 Data gloves
8.2.2.1.2 Others
TABLE 19 VIRTUAL REALITY MARKET FOR GESTURE-TRACKING DEVICES, BY APPLICATION, 2016–2019 (USD MILLION)
TABLE 20 MARKET FOR GESTURE-TRACKING DEVICES, BY APPLICATION, 2020–2025 (USD MILLION)
8.2.2.2 Impact of COVID-19 on gesture-tracking devices market
8.2.3 PROJECTORS & DISPLAY WALLS
8.2.3.1 Projectors & display walls are new growth avenues in VR hardware market
TABLE 21 MARKET FOR PROJECTORS & DISPLAY WALLS, BY APPLICATION, 2016–2019 (USD MILLION)
TABLE 22 MARKET FOR PROJECTORS & DISPLAY WALLS, BY APPLICATION, 2020–2025 (USD MILLION)
9 VIRTUAL REALITY MARKET, BY APPLICATION (Page No. - 78)
9.1 INTRODUCTION
9.2 VIRTUAL REALITY APPLICATIONS
FIGURE 26 VR MARKET FOR HEALTHCARE TO REGISTER HIGHEST CAGR BETWEEN 2020 AND 2025
TABLE 23 MARKET, BY APPLICATION, 2016–2019 (USD MILLION)
TABLE 24 MARKET, BY APPLICATION, 2020–2025 (USD MILLION)
9.2.1 CONSUMER
9.2.1.1 Gaming and entertainment applications are major drivers for VR market growth
TABLE 25 VIRTUAL REALITY MARKET FOR CONSUMER APPLICATIONS, BY DEVICE TYPE, 2016–2019 (USD MILLION)
TABLE 26 MARKET FOR CONSUMER APPLICATIONS, BY DEVICE TYPE, 2020–2025 (USD MILLION)
TABLE 27 MARKET FOR CONSUMER APPLICATIONS, BY REGION, 2016–2019 (USD MILLION)
TABLE 28 MARKET FOR CONSUMER APPLICATIONS, BY REGION, 2020–2025 (USD MILLION)
TABLE 29 MARKET FOR CONSUMER APPLICATIONS IN NORTH AMERICA, BY COUNTRY, 2016–2019 (USD MILLION)
TABLE 30 MARKET FOR CONSUMER APPLICATIONS IN NORTH AMERICA, BY COUNTRY, 2020–2025 (USD MILLION)
TABLE 31 MARKET FOR CONSUMER APPLICATIONS IN EUROPE, BY COUNTRY, 2016–2019 (USD MILLION)
TABLE 32 MARKET FOR CONSUMER APPLICATIONS IN EUROPE, BY COUNTRY, 2020–2025 (USD MILLION)
TABLE 33 MARKET FOR CONSUMER APPLICATIONS IN APAC, BY COUNTRY, 2016–2019 (USD MILLION)
TABLE 34 MARKET FOR CONSUMER APPLICATIONS IN APAC, BY COUNTRY, 2020–2025 (USD MILLION)
TABLE 35 MARKET FOR CONSUMER APPLICATIONS IN ROW, BY REGION, 2016–2019 (USD MILLION)
TABLE 36 MARKET FOR CONSUMER APPLICATIONS IN ROW, BY REGION, 2020–2025 (USD MILLION)
9.2.1.1.1 Gaming and entertainment
9.2.1.1.2 Sports
9.2.1.2 Use cases in consumer
9.2.2 COMMERCIAL
9.2.2.1 Retail and e-commerce to drive commercial application in VR market
TABLE 37 VIRTUAL REALITY MARKET FOR COMMERCIAL APPLICATIONS, BY DEVICE TYPE, 2016–2019 (USD MILLION)
TABLE 38 MARKET FOR COMMERCIAL APPLICATIONS, BY DEVICE TYPE, 2020–2025 (USD MILLION)
TABLE 39 MARKET FOR COMMERCIAL APPLICATIONS, BY REGION, 2016–2019 (USD MILLION)
TABLE 40 MARKET FOR COMMERCIAL APPLICATIONS, BY REGION, 2020–2025 (USD MILLION)
TABLE 41 MARKET FOR COMMERCIAL APPLICATIONS IN NORTH AMERICA, BY COUNTRY, 2016–2019 (USD MILLION)
TABLE 42 VIRTUAL REALITY MARKET FOR COMMERCIAL APPLICATIONS IN NORTH AMERICA, BY COUNTRY, 2020–2025 (USD MILLION)
TABLE 43 MARKET FOR COMMERCIAL APPLICATIONS IN EUROPE, BY COUNTRY, 2016–2019 (USD MILLION)
TABLE 44 MARKET FOR COMMERCIAL APPLICATIONS IN EUROPE, BY COUNTRY, 2020–2025 (USD MILLION)
TABLE 45 MARKET FOR COMMERCIAL APPLICATIONS IN APAC, BY COUNTRY, 2016–2019 (USD MILLION)
TABLE 46 MARKET FOR COMMERCIAL APPLICATIONS IN APAC, BY COUNTRY, 2020–2025 (USD MILLION)
TABLE 47 MARKET FOR COMMERCIAL APPLICATIONS IN ROW, BY REGION, 2016–2019 (USD MILLION)
TABLE 48 MARKET FOR COMMERCIAL APPLICATIONS IN ROW, BY REGION, 2020–2025 (USD MILLION)
9.2.2.1.1 Retail & Ecommerce
9.2.2.1.2 Education and training
9.2.2.1.3 Travel and tourism
9.2.2.1.4 Advertising
9.2.2.2 Use-cases in commercial
9.2.3 ENTERPRISE (MANUFACTURING)
9.2.3.1 Increased use of VR technology and devices in industrial facilities to drive enterprise application in VR market
TABLE 49 VIRTUAL REALITY MARKET FOR ENTERPRISE APPLICATIONS, BY DEVICE TYPE, 2016–2019 (USD MILLION)
TABLE 50 MARKET FOR ENTERPRISE APPLICATIONS, BY DEVICE TYPE, 2020–2025 (USD MILLION)
TABLE 51 MARKET FOR ENTERPRISE APPLICATIONS, BY REGION, 2016–2019 (USD MILLION)
TABLE 52 MARKET FOR ENTERPRISE APPLICATIONS, BY REGION, 2020–2025 (USD MILLION)
TABLE 53 MARKET FOR ENTERPRISE APPLICATIONS IN NORTH AMERICA, BY COUNTRY, 2016–2019 (USD MILLION)
TABLE 54 VIRTUAL REALITY MARKET FOR ENTERPRISE APPLICATIONS IN NORTH AMERICA, BY COUNTRY, 2020–2025 (USD MILLION)
TABLE 55 MARKET FOR ENTERPRISE APPLICATIONS IN EUROPE, BY COUNTRY, 2016–2019 (USD MILLION)
TABLE 56 MARKET FOR ENTERPRISE APPLICATIONS IN EUROPE, BY COUNTRY, 2020–2025 (USD MILLION)
TABLE 57 MARKET FOR ENTERPRISE APPLICATIONS IN APAC, BY COUNTRY, 2016–2019 (USD MILLION)
TABLE 58 MARKET FOR ENTERPRISE APPLICATIONS IN APAC, BY COUNTRY, 2020–2025 (USD MILLION)
TABLE 59 MARKET FOR ENTERPRISE APPLICATIONS IN ROW, BY REGION, 2016–2019 (USD MILLION)
TABLE 60 MARKET FOR ENTERPRISE APPLICATIONS IN ROW, BY REGION, 2020–2025 (USD MILLION)
9.2.3.2 Use cases in enterprise (manufacturing)
9.2.4 HEALTHCARE
9.2.4.1 Patient care management and medical training & education are major applications driving the growth of VR in healthcare
TABLE 61 VIRTUAL REALITY MARKET FOR HEALTHCARE APPLICATIONS, BY DEVICE TYPE, 2016–2019 (USD MILLION)
TABLE 62 MARKET FOR HEALTHCARE APPLICATIONS, BY DEVICE TYPE, 2020–2025 (USD MILLION)
TABLE 63 MARKET FOR HEALTHCARE APPLICATIONS, BY REGION, 2016–2019 (USD MILLION)
TABLE 64 MARKET FOR HEALTHCARE APPLICATIONS, BY REGION, 2020–2025 (USD MILLION)
TABLE 65 MARKET FOR HEALTHCARE APPLICATIONS IN NORTH AMERICA, BY COUNTRY, 2016–2019 (USD MILLION)
TABLE 66 MARKET FOR HEALTHCARE APPLICATIONS IN NORTH AMERICA, BY COUNTRY, 2020–2025 (USD MILLION)
TABLE 67 VIRTUAL REALITY MARKET FOR HEALTHCARE APPLICATIONS IN EUROPE, BY COUNTRY, 2016–2019 (USD MILLION)
TABLE 68 MARKET FOR HEALTHCARE APPLICATIONS IN EUROPE, BY COUNTRY, 2020–2025 (USD MILLION)
TABLE 69 MARKET FOR HEALTHCARE APPLICATIONS IN APAC, BY COUNTRY, 2016–2019 (USD MILLION)
TABLE 70 MARKET FOR HEALTHCARE APPLICATIONS IN APAC, BY COUNTRY, 2020–2025 (USD MILLION)
TABLE 71 MARKET FOR HEALTHCARE APPLICATIONS IN ROW, BY REGION, 2016–2019 (USD MILLION)
TABLE 72 MARKET FOR HEALTHCARE APPLICATIONS IN ROW, BY REGION, 2020–2025 (USD MILLION)
9.2.4.1.1 Surgery
&nnbsp; 9.2.4.1.2 Patient care management
9.2.4.1.3 Fitness management
9.2.4.1.4 Pharmacy management
9.2.4.1.5 Medical training and education
9.2.4.2 Use-cases in healthcare
9.2.5 AEROSPACE & DEFENSE
9.2.5.1 Simulation training to be major growth factor of VR in aerospace & defense
TABLE 73 VIRTUAL REALITY MARKET FOR AEROSPACE & DEFENSE APPLICATIONS, BY DEVICE TYPE, 2016–2019 (USD MILLION)
TABLE 74 MARKET FOR AEROSPACE & DEFENSE APPLICATIONS, BY DEVICE TYPE, 2020–2025 (USD MILLION)
TABLE 75 MARKET FOR AEROSPACE & DEFENSE APPLICATIONS, BY REGION, 2016–2019 (USD MILLION)
TABLE 76 MARKET FOR AEROSPACE & DEFENSE APPLICATIONS, BY REGION, 2020–2025 (USD MILLION)
TABLE 77 MARKET FOR AEROSPACE & DEFENSE APPLICATIONS IN NORTH AMERICA, BY COUNTRY, 2016–2019 (USD MILLION)
TABLE 78 MARKET FOR AEROSPACE & DEFENSE APPLICATIONS, BY COUNTRY, 2020–2025 (USD MILLION)
TABLE 79 MARKET FOR AEROSPACE & DEFENSE APPLICATIONS IN EUROPE, BY COUNTRY, 2016–2019 (USD MILLION)
TABLE 80 VIRTUAL REALITY MARKET FOR AEROSPACE & DEFENSE APPLICATIONS IN EUROPE, BY COUNTRY, 2020–2025 (USD MILLION)
TABLE 81 MARKET FOR AEROSPACE & DEFENSE APPLICATIONS IN APAC, BY COUNTRY, 2016–2019 (USD MILLION)
TABLE 82 MARKET FOR AEROSPACE & DEFENSE APPLICATIONS IN APAC, BY COUNTRY, 2020–2025 (USD MILLION)
TABLE 83 MARKET FOR AEROSPACE & DEFENSE APPLICATIONS IN ROW, BY REGION, 2016–2019 (USD MILLION)
TABLE 84 MARKET FOR AEROSPACE & DEFENSE APPLICATIONS IN ROW, BY REGION, 2020–2025 (USD MILLION)
9.2.5.2 Use case in aerospace & defense
9.2.6 OTHERS
TABLE 85 VIRTUAL REALITY MARKET FOR OTHER APPLICATIONS, BY DEVICE TYPE, 2016–2019 (USD MILLION)
TABLE 86 MARKET FOR OTHER APPLICATIONS, BY DEVICE TYPE, 2020–2025 (USD MILLION)
TABLE 87 MARKET FOR OTHER APPLICATIONS, BY REGION, 2016–2019 (USD MILLION)
TABLE 88 MARKET FOR OTHER APPLICATIONS, BY REGION, 2020–2025 (USD MILLION)
TABLE 89 MARKET FOR OTHER APPLICATIONS IN NORTH AMERICA, BY COUNTRY, 2016–2019 (USD MILLION)
TABLE 90 MARKET FOR OTHER APPLICATIONS IN NORTH AMERICA, BY COUNTRY, 2020–2025 (USD MILLION)
TABLE 91 VIRTUAL REALITY MARKET FOR OTHER APPLICATIONS IN EUROPE, BY COUNTRY, 2016–2019 (USD MILLION)
TABLE 92 MARKET FOR OTHER APPLICATIONS IN EUROPE, BY COUNTRY, 2020–2025 (USD MILLION)
TABLE 93 MARKET FOR OTHER APPLICATIONS IN APAC, BY COUNTRY, 2016–2019 (USD MILLION)
TABLE 94 MARKET FOR OTHER APPLICATIONS IN APAC, BY COUNTRY, 2020–2025 (USD MILLION)
TABLE 95 MARKET FOR OTHER APPLICATIONS IN ROW, BY REGION, 2016–2019 (USD MILLION)
TABLE 96 MARKET FOR OTHER APPLICATIONS IN ROW, BY REGION, 2020–2025 (USD MILLION)
9.2.6.1 Automotive
9.2.6.2 Real estate (architecture and building design)
9.2.6.3 Geospatial mining
9.2.6.4 Use cases in other applications
9.2.7 COVID-19 IMPACT ON MAJOR APPLICATIONS
FIGURE 27 COVID-19 IMPACT ON CONSUMER APPLICATION
FIGURE 28 COVID-19 IMPACT ON ENTERPRISE APPLICATION
FIGURE 29 COVID-19 IMPACT ON HEALTHCARE APPLICATION
10 GEOGRAPHICAL ANALYSIS (Page No. - 116)
10.1 INTRODUCTION
FIGURE 30 GEOGRAPHIC SNAPSHOT: VR MARKET IN APAC TO WITNESS HIGHEST GROWTH DURING FORECAST PERIOD
FIGURE 31 US TO HOLD LARGEST SIZE OF VR MARKET FROM 2020 TO 2025
TABLE 97 VR MARKET, BY REGION, 2016–2019 (USD MILLION)
TABLE 98 VR MARKET, BY REGION, 2020–2025 (USD MILLION)
10.2 NORTH AMERICA
FIGURE 32 NORTH AMERICA: SNAPSHOT OF VR MARKET
TABLE 99 VR MARKET IN NORTH AMERICA, BY APPLICATION, 2016–2019 (USD MILLION)
TABLE 100 VR MARKET IN NORTH AMERICA, BY APPLICATION, 2020–2025 (USD MILLION)
TABLE 101 VR MARKET IN NORTH AMERICA, BY COUNTRY, 2016–2019 (USD MILLION)
TABLE 102 VR MARKET IN NORTH AMERICA, BY COUNTRY, 2020–2025 (USD MILLION)
10.2.1 US
10.2.1.1 Strong presence of VR companies in the US likely to drive the market
10.2.2 CANADA
10.2.2.1 Increasing investment in cutting-edge technologies to fuel VR market growth in Canada
10.2.3 MEXICO
10.2.3.1 Evolving industries in Mexico to drive the market growth
10.3 EUROPE
FIGURE 33 EUROPE: SNAPSHOT OF VR MARKET
TABLE 103 VR MARKET IN EUROPE, BY APPLICATION, 2016–2019 (USD MILLION)
TABLE 104 VR MARKET IN EUROPE, BY APPLICATION, 2020–2025 (USD MILLION)
TABLE 105 VR MARKET IN EUROPE, BY COUNTRY, 2016–2019 (USD MILLION)
TABLE 106 VR MARKET IN EUROPE, BY COUNTRY, 2020–2025 (USD MILLION)
10.3.1 GERMANY
10.3.1.1 High adoption of new technologies in manufacturing to drive the market in Germany
10.3.2 FRANCE
10.3.2.1 High adoption in retail to enhance growth of VR market in France
10.3.3 UK
10.3.3.1 Continuous focus on digitalization likely to drive growth of VR market in UK
10.3.4 REST OF EUROPE
10.3.4.1 Inflow of products and technology from UK, Germany, and France would propel VR market growth in Rest of Europe
10.4 APAC
FIGURE 34 APAC: SNAPSHOT OF VR MARKET
TABLE 107 VR MARKET IN APAC, BY APPLICATION, 2016–2019 (USD MILLION)
TABLE 108 VR MARKET IN APAC, BY APPLICATION, 2020–2025 (USD MILLION)
TABLE 109 VR MARKET IN APAC, BY COUNTRY, 2016–2019 (USD MILLION)
TABLE 110 VR MARKET IN APAC, BY COUNTRY, 2020–2025 (USD MILLION)
10.4.1 CHINA
10.4.1.1 High number of local players producing VR devices to drive growth of VR market in China
10.4.2 INDIA
10.4.2.1 Increasing awareness of advanced technology to play crucial role in the growth of VR market in India
10.4.3 JAPAN
10.4.3.1 High growth of healthcare sector in Japan to fuel growth of VR market
10.4.4 SOUTH KOREA
10.4.4.1 Digital revolution in industrial sector in South Korea would drive growth of VR market
10.4.5 REST OF APAC
10.4.5.1 High consumer spending in Rest of APAC would boost the VR market
10.5 ROW
TABLE 111 VR MARKET IN ROW, BY APPLICATION, 2016–2019 (USD MILLION)
TABLE 112 VR MARKET IN ROW, BY APPLICATION, 2020–2025 (USD MILLION)
TABLE 113 VR MARKET IN ROW, BY REGION, 2016–2019 (USD MILLION)
TABLE 114 VR MARKET IN ROW, BY REGION, 2020–2025 (USD MILLION)
10.5.1 MIDDLE EAST & AFRICA
10.5.1.1 Oil & gas and mining to fuel growth of VR devices in the Middle East and Africa
10.5.2 SOUTH AMERICA
10.5.2.1 Growing consumer market to drive growth of VR market in South America
10.6 COVID-19 IMPACT ON MAJOR REGIONS
FIGURE 35 PRE-COVID-19 VS. POST-COVID-19 COMPARISON FOR NORTH AMERICAN MARKET
FIGURE 36 PRE-COVID-19 VS. POST-COVID-19 COMPARISON FOR APAC MARKET
11 COMPETITIVE LANDSCAPE (Page No. - 139)
11.1 INTRODUCTION
FIGURE 37 COMPANIES ADOPTED PRODUCT LAUNCHES & DEVELOPMENTS AS KEY GROWTH STRATEGIES FROM 2017 TO 2020
11.2 RANKING FOR VIRTUAL REALITY MARKET PLAYERS
FIGURE 38 RANKING OF TOP 5 PLAYERS IN MARKET
11.3 COMPETITIVE SCENARIO
11.3.1 PRODUCT LAUNCHES & DEVELOPMENTS
TABLE 115 PRODUCT LAUNCHES & DEVELOPMENTS: MARKET, 2017 TO 2020
11.3.2 PARTNERSHIPS
TABLE 116 PARTNERSHIPS: MARKET, 2017–2020
11.3.3 AGREEMENTS, COLLABORATIONS, AND CAPITAL FUNDING
TABLE 117 AGREEMENTS, COLLABORATIONS, AND CAPITAL FUNDING: VIRTUAL REALITY, 2017–2020
11.3.4 ACQUISITIONS AND EXPANSIONS
TABLE 118 ACQUISITIONS AND EXPANSIONS: MARKET, 2017–2020
11.4 COMPETITIVE LEADERSHIP MAPPING
11.4.1 VISIONARY LEADERS
11.4.2 DYNAMIC DIFFERENTIATORS
11.4.3 INNOVATORS
11.4.4 EMERGING COMPANIES
FIGURE 39 VIRTUAL REALITY MARKET (GLOBAL) COMPETITIVE LEADERSHIP MAPPING, 2019
12 COMPANY PROFILES (Page No. - 146)
12.1 INTRODUCTION
12.2 KEY PLAYERS
(Business Overview, Products Offered, Recent Developments, SWOT Analysis, MnM View, and COVID-19 Updates)*
12.2.1 GOOGLE
FIGURE 40 GOOGLE: COMPANY SNAPSHOT
12.2.2 MICROSOFT
FIGURE 41 MICROSOFT: COMPANY SNAPSHOT
12.2.3 OCULUS VR (FACEBOOK)
12.2.4 SONY
FIGURE 42 SONY: COMPANY SNAPSHOT
12.2.5 SAMSUNG ELECTRONICS
FIGURE 43 SAMSUNG ELECTRONICS: COMPANY SNAPSHOT
12.2.6 HTC
FIGURE 44 HTC: COMPANY SNAPSHOT
12.2.7 EON REALITY
12.2.8 VUZIX
FIGURE 45 VUZIX: COMPANY SNAPSHOT
12.2.9 CYBERGLOVE SYSTEMS
12.2.10 LEAP MOTION (ULTRALEAP)
12.2.11 SIXENSE ENTERPRISES
* Business Overview, Products Offered, Recent Developments, SWOT Analysis, MnM View, and COVID-19 Updates might not be captured in case of unlisted companies.
12.3 KEY INNOVATORS
12.3.1 NINTENDO
12.3.2 PSIOUS
12.3.3 MINDMAZE
12.3.4 FIRSTHAND TECHNOLOGY
12.3.5 WORLDVIZ
12.3.6 VIRTUIX
12.3.7 SURVIOS
12.3.8 MERGE LABS
12.3.9 SPACEVR
12.3.10 VIRTUALLY LIVE
12.3.11 XIAOMI CORPORATION
12.3.12 PANASONIC CORPORATION
13 ADJACENT MARKET (Page No. - 184)
13.1 AUGMENTED REALITY MARKET – GLOBAL TABLES
13.1.1 MARKET DEFINITION
13.1.2 LIMITATIONS
13.1.2.1 Inclusions and exclusions
FIGURE 46 AUGMENTED REALITY MARKET, 2016–2024 (USD BILLION)
TABLE 119 AUGMENTED REALITY MARKET, BY OFFERING, 2016–2024 (USD MILLION)
TABLE 120 AUGMENTED REALITY MARKET, BY APPLICATION, 2016–2024 (USD MILLION)
TABLE 121 AUGMENTED REALITY MARKET, BY REGION, 2016–2024 (USD MILLION)
14 APPENDIX (Page No. - 189)
14.1 INSIGHTS OF INDUSTRY EXPERTS
14.2 DISCUSSION GUIDE
14.3 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
14.4 AVAILABLE CUSTOMIZATIONS
14.5 RELATED REPORTS
14.6 AUTHOR DETAILS
The study involved four major activities in estimating the size of the virtual reality market. Exhaustive secondary research has been done to collect information on the market, peer market, and parent market. Validation of these findings, assumptions, and sizing with industry experts across the value chain through primary research has been the next step. Both top-down and bottom-up approaches have been employed to estimate the global market size. After that, market breakdown and data triangulation have been used to estimate the market sizes of segments and subsegments.
Secondary Research
The secondary sources referred to for this research study includes TechCrunch News, Virtual reality technical blogs, annual reports, press releases, SEC filings, and investor presentations of companies; white papers, certified publications, and articles from recognized authors; directories; and databases.
In the virtual reality market report, both top-down and bottom-up approaches have been used to estimate and validate the size of the virtual reality market, along with other dependent submarkets. The key players in the virtual reality market have been identified through secondary research, and their market presence has been determined through primary and secondary research. All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.
Primary Research
Extensive primary research has been conducted after acquiring an understanding of the virtual reality market scenario through secondary research. Several primary interviews have been conducted with market experts from both the demand- (consumers, industries, healthcare) and supply-side (virtual reality product manufacturers) players across four major regions, namely, North America, Europe, Asia Pacific, and Rest of the World (the Middle East & Africa). Approximately 70% and 30% of primary interviews have been conducted from the supply and demand side, respectively. Primary data has been collected through questionnaires, emails, and telephonic interviews. In the canvassing of primaries, various departments within organizations, such as sales, operations, and administration, were covered to provide a holistic viewpoint in our report.
After interacting with industry experts, brief sessions were conducted with highly experienced independent consultants to reinforce the findings from our primaries. This, along with the in-house subject matter experts’ opinions, has led us to the findings as described in the remainder of this report.
To know about the assumptions considered for the study, download the pdf brochure
Market Size Estimation
Both top-down and bottom-up approaches have been used to estimate and validate the total size of the virtual reality market. These methods have also been extensively used to estimate the sizes of various market subsegments. The research methodology used to estimate the market sizes includes the following:
- Identifying market for virtual reality-based offering in each country
- Identifying the major applications of virtual reality-related products
- Estimating the size of the market in each region by adding the sizes of country-wise markets
- Tracking the ongoing and upcoming implementation of virtual reality projects by various companies in each region and forecasting the size of the virtual reality market based on these developments and other critical parameters, including COVID-19 related impacts
- Arriving at the size of the global market by adding the sizes of region-wise markets
To know about the assumptions considered for the study, Request for Free Sample Report
Data Triangulation
After arriving at the overall market size—using the market size estimation processes explained above—the market has been split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, data triangulation, and market breakdown procedures have been employed, wherever applicable. The data has been triangulated by studying various factors and trends from both the demand and supply sides.
The main objectives of this study are as follows:
- To define, describe, and forecast the virtual reality market, in terms of value and volume, by offering, device type, technology, application, and region
- To forecast the market, for various segments with respect to four main regions—the North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW), in terms of value and volume
- To strategically analyze micromarkets1 with respect to individual growth trends, prospects, and contribution to the overall virtual reality market
- To provide detailed information regarding the major factors (drivers, restraints, opportunities, and challenges) influencing the virtual reality market growth
- To analyze opportunities in the market for various stakeholders by identifying the high-growth segments of the virtual reality market
- To study the complete value chain and allied industry segments, and perform a value chain analysis of the virtual reality market landscape
- To map competitive intelligence based on company profiles, key player strategies, and key developments
- To strategically profile key players and comprehensively analyze their market ranking and core competencies2
- To track and analyze competitive developments such as joint ventures, mergers and acquisitions, product developments, and research and development (R&D) in the virtual reality market
Available Customizations:
MarketsandMarkets offers the following customizations for this market report:
- Additional country-level analysis of virtual reality market
- Profiling of additional market players (up to 5)
- Country-level analysis of component, and system type Segment
- Triangulate with your Own Data
- Get Data as per your Format and Definition
- Gain a Deeper Dive on a Specific Application, Geography, Customer or Competitor
- Any level of Personalization
- What are the Known and Unknown Adjacencies Impacting the Virtual Reality Market
- What will your New Revenue Sources be?
- Who will be your Top Customer; what will make them switch?
- Defend your Market Share or Win Competitors
- Get a Scorecard for Target Partners
Growth opportunities and latent adjacency in Virtual Reality Market
Valorizar Economicamente el crecimiento del Mercado de Realidad Virtual los próximos 5 años
Hi, I wanted to understand the VR market in Asia. Could you please share a sample?