Virtual Reality (VR) Market Size, Industry Trends 2030

Report Code SE 3528
Published in May, 2024, By MarketsandMarkets™
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Virtual Reality (VR) Market Size, Share & Industry Growth Analysis Report by Technology (Non-immersive, Semi & Fully Immersive), Offering, Device Type (Head-mounted Devices, Gesture Tracking Devices, Projectors & Display Walls), Application and Region - Global Forecast to 2029

Overview

The growing penetration of the metaverse and significant adoption of HMDs across various sectors are attributed to the ever-increasing demand for virtual reality systems, driving impressive virtual reality market growth and vr industry growth. This growth is fueled by advancements in VR technology and the expanding use of VR in industries like VR automotive, VR retail, VR healthcare, VR manufacturing, and VR aerospace & defense.

Attractive Opportunities in the Virtual Reality (VR) Market

Asia Pacific

The Asia Pacific market can be attributed to the continuous technological advancements in virtual reality for education, healthcare, and gaming in the region.

The growth of the market can be attributed to the growing deployment of VR devices for training and telemedicine.

The growth of this market can be attributed to the growing penetration of metaverse

Organic growth strategies are expected to create lucrative growth opportunities for the providers of VR devices in the next five years.

The market growth is contributed by the continuous developments in 5G technology

Global Virtual Reality (VR) Market Dynamics

Driver: The growing penetration of the Metaverse

The metaverse is all about creating a sense of presence in a virtual world. Virtual Reality (VR) technology is at the forefront of the metaverse, providing immersive experiences that blur the lines between reality and the virtual world.VR headsets, such as Meta's Oculus, offer a 360-degree view of virtual worlds, replacing the user's view of the outside world. This technology has already contributed significantly to various industries, including education, healthcare, and customer service. VR has been shown to improve learning and increase accuracy in medical practice, making it a valuable tool for training and education. Immersive experiences in the metaverse, particularly those powered by VR, have the potential to revolutionize the way we work, learn, and socialize.To access the metaverse, users will require immersive devices like VR headsets, smart glasses, augmented reality (AR) devices, or even smartphones and tablets. VR is one of the mediums that will let users connect with the metaverse, but it is only one part of the implicit concept. The metaverse is a platform that comprises VR as one of its features, delivering a cross-platform experience that enables users to interact with people globally in the virtual world. This is driving growth in the virtual reality headset market and impacting vr headset market share.For instance, in April 2024, Metaverse911 (India), a metaverse research and advisory firm launched Metaverse Experience Center (MEC) in Noida (India). The MEC is designed to serve as the hub for showcasing cutting-edge AR, VR, Mixed Reality (MR), Digital Twin, and Metaverse solutions, creating a unique space for industry leaders to explore and experience the latest developments in immersive technologies like extended reality.

Restraint: Latency issues and high energy consumption

The efficacy of virtual reality devices hinges upon a delicate balance between various technical factors, with latency in display and energy consumption emerging as pivotal determinants of their overall performance. Latency, referring to the delay between user input and the corresponding visual response in the virtual reality environment, has the potential to disrupt the seamless immersion that virtual reality strives to achieve. Even the slightest delay can lead to motion sickness, discomfort, and a perceptible detachment from the virtual world.On the other hand, the energy consumption of virtual reality devices plays a critical role in determining the practicality and user experience. High energy demands can lead to shorter battery life, necessitating frequent recharges and limiting the duration of immersive experiences. This not only impacts user convenience but also constrains the scope of applications, particularly in scenarios where uninterrupted usage is essential, such as extended training simulations or immersive educational modules.Both latency and energy consumption are intertwined, as addressing one often influences the other. Mitigating latency requires rapid data processing, which can strain the device's hardware and subsequently increase energy usage.Conversely, optimizing energy efficiency might involve lowering processing speeds, inadvertently introducing latency. This intricate interplay highlights the intricate trade-offs virtual reality developers must navigate.Overcoming these challenges requires advancements in display technology, computational efficiency, and battery capacity. Cutting-edge displays with higher refresh rates can reduce latency, while energy-efficient hardware design and VR software optimization can prolong usage time. As the virtual reality industry matures, technological innovation in these areas is expected to be pivotal in crafting a virtual reality experience that is both immersive and sustainable, ensuring that the impact of latency and energy consumption on overall effectiveness is minimized.

 

Opportunity: Continuous developments in 5G technology

The adoption of virtual reality technology has been gaining momentum in both personal and professional applications. The advent of the 5G technology is expected to address some challenges by paving the way for optimized distribution of processing capabilities. 5G's enhanced performance enables faster and more reliable connections, leading to an improved user experience in VR applications. The technology's higher data transfer rates and lower latency result in responsive VR experiences, while enhanced visuals allow for the streaming of higher-resolution content and complex 3D graphics in real time. The capabilities of 5G open up new use cases for VR, such as real-time cloud rendering and edge computing, enabling complex and data-intensive applications like virtual tourism and smart city simulations.For instance, in May 2023, Telefónica S.A. (Spain) partnered with Atlético de Madrid, a Spanish professional football club, to implement a new immersive way of enjoying matches via 5G and in Virtual Reality (VR). This is a new way of watching football matches through the 5G Multicam project, which allows fans to enjoy a 360° real-time experience of the match from various angles, including behind the goal, the tunnel exit, the press area, or the stadium control room. This showcases the potential for VR entertainment applications.

Challenge: Creating VR systems with user-friendly interface

The challenge of developing a virtual reality system with a user-friendly interface delves into the intricate balance between immersive technology and intuitive usability. While the potential of Virtual Reality to transport users to new dimensions is exhilarating, the complexity of integrating intricate hardware, sophisticated software, and natural interaction demands careful consideration.In crafting a user-friendly virtual reality system, designers must grapple with multifaceted elements. Firstly, the interface should seamlessly guide users through the experience, ensuring that interactions feel intuitive and natural. Complex menus, intricate gestures, and challenging controls can hinder the sense of immersion, disconnecting users from the virtual environment they seek to explore.Secondly, comfort is paramount. Prolonged virtual reality use can lead to discomfort, motion sickness, and fatigue. Developing an interface that minimizes these negative effects requires understanding how visual cues, motion tracking, and sensory inputs align with the user's physiological response.Content accessibility must not be compromised. Users, regardless of technical expertise, should be able to access and navigate virtual reality content effortlessly. Striking this balance is a challenge, especially as virtual reality applications expand into diverse industries and user demographics.Addressing these challenges involves iterative design, user testing, and collaboration among experts in human- computer interaction, interface design, and ergonomics. As the virtual reality landscape matures, the successful resolution of this challenge ensures that immersive experiences are not just exhilarating but also inclusive, comfortable, and easily navigable for a wide spectrum of users.Creating a user-friendly virtual reality interface involves a combination of thoughtful design, usability testing, and ongoing refinement. Prioritizing user experience and accessibility will contribute to the success of the virtual reality system and enhance user satisfaction, ultimately making virtual reality technology more accessible and enjoyable for a broader audience. This is key for driving VR adoption and expanding the consumer VR market.

Global Virtual Reality (VR) Market Ecosystem Analysis

Virtual Reality Industry Ecosystem Prominent companies in this market include well-established, financially stable providers of virtual reality systems. These companies have been operating in the market for several years and possess a diversified product portfolio, state- of-the-art technologies, and strong global sales and marketing networks. Prominent companies in this market include Meta (US), Sony (Japan), Samsung Electronics Co., Ltd. (South Korea), Microsoft (US), Unity Technologies (US), Barco (Belgium), Penumbra, Inc. (US), HTC Corporation (Taiwan), PICO Immersive Pte.ltd (US), and DPVR (China). These key VR market players are shaping the virtual reality market share

 

By offering, hardware segment is expected to grow with the highest CAGR from 2024 to 2029.

The hardware segment is expected to grow at a higher CAGR of 22% during the forecast period. The growth for hardware segment is anticipated to the demand of VR headsets popularity in gaming, providing an immersive experience that is unmatched by traditional monitors. With the growing popularity of esports and the rising demand for more realistic gaming experiences, VR hardware is expected to see continued growth.

By device type, gesture tracking devices segment is expected to grow with the highest CAGR in 2029.

The Gesture Tracking Devices are expected to record a highest CAGR of 25.2% during the forecast period. Gesture tracking allows for a more natural and intuitive way to interact with the virtual world. By using your hands and body movements to control objects and navigate environments, you feel a deeper sense of presence within the VR experience. This is a major advantage over traditional controllers, which can feel clunky and break immersion.The advancement of machine learning and computer vision techniques has led to the development of more accurate and robust gesture recognition algorithms. These algorithms can better understand and interpret complex hand and body movements, enabling more intuitive and natural interactions with the virtual environment.

Asia Pacific Region Holds the Largest Share of the Virtual Reality (VR) Market.

In 2029, The virtual reality market in Asia Pacific is expected to grow at the highest CAGR. The Asia Pacific virtual reality market is experiencing significant growth due to the rise of eSports and immersive gaming experiences is a major driver. VR offers a new level of engagement for gamers, and the growing popularity of eSports fuels the demand for VR. Significant players from the region Sony (Japan), Samsung Electronics Co., Ltd. (South Korea), DPVR (China), FOVE, Inc (Japan), Vection Technologies (Australia), and Vighnesh Inc. (India).

 
 

Recent Developments of Virtual Reality (VR) Market industry

  • In December 2023, DPVR collaborated with SchooVR, provider of immersive educational content. The collaboration between DPVR and SchooVR aims to enhance learning solutions for teachers and students by integrating virtual reality (VR) into the classroom environment.
  • In October 2023, Sony unveiled PlayStation 5 Slim version. It's a redesigned version of the original PS5 that's smaller and lighter, with a few other improvements. The PS5 Slim is about 30% smaller in volume than the original PS5. It's also lighter, making it easier to transport and fit into entertainment centers.

Key Market Players

KEY PLAYERS IN THE Virtual Reality (VR) Market INCLUDE

  • Meta (US)
  • Sony (Japan)
  • Samsung Electronics Co., Ltd. (South Korea)
  • Microsoft (US)
  • Unity Technologies (US)
  • Barco (Belgium)
  • Penumbra, Inc. (US)
  • HTC Corporation (Taiwan)
  • PICO Immersive Pte.ltd (US)
  • DPVR (China)

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Scope of the Report

Report Attribute Details
Estimated Market Size USD 15.9 billion in 2024
Projected Market Size USD 38.0 billion by 2029
VR Market Growth Rate CAGR of 19.1%
Market Size Availability for Years 2020–2029
Base Year 2023
Forecast Period 2024–2029
Forecast Units Value (USD Million/Billion)
Segments Covered By technology, offering, device type, application, and region
Geographies Covered North America, Europe, Asia Pacific, and RoW
Companies Covered Meta (US), Sony (Japan), Samsung Electronics Co., Ltd. (South Korea), Microsoft (US), Unity Technologies (US), Barco (Belgium), Penumbra, Inc.  (US), HTC Corporation (Taiwan), PICO Immersive Pte.ltd (US), and DPVR (China) are some of the key players in th

 

Key Questions Addressed by the Report

Which are the major companies in the virtual reality (VR) market? What are their major strategies to strengthen their market presence?
The major companies in the virtual reality market are – Meta (US), Sony (Japan), Samsung Electronics Co., Ltd. (South Korea), Microsoft (US), Unity Technologies (US), Barco (Belgium), Penumbra, Inc. (US), HTC Corporation (Taiwan), PICO Immersive Pte.ltd (US), and DPVR (China) and the major strategies adopted by these players are product launches and developments.
What is the virtual reality device?
A virtual reality (VR) device is a headset that creates an immersive, three-dimensional experience. VR headsets typically include a stereoscopic display (providing separate images for each eye), stereo sound, and sensors like accelerometers and gyroscopes for tracking the pose of the user's head to match the orientation of the virtual camera with the user's eye positions in the real world.
Who are the winners in the global virtual reality market?
Companies such as Meta (US), Sony (Japan), Samsung Electronics Co., Ltd. (South Korea), Microsoft (US), Unity Technologies (US),  fall under the winner’s category. These companies cater to the requirements of their customers by providing virtual reality systems. Moreover, these companies are highly adopting inorganic growth strategies to strengthen their global market position and customer base.
What are the drivers and opportunities for the virtual reality market?
The growing penetration of the Metaverse is the driver, and Continuous developments in 5G technology is the opportunity in the virtual reality market.
What are the restraints and challenges for the virtual reality market?
Continuous developments in 5G technology and Continuous developments in 5G technology are the restraints and challenges in the virtual reality market.

 

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Table of Contents

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TITLE
PAGE NO
INTRODUCTION
22
RESEARCH METHODOLOGY
28
EXECUTIVE SUMMARY
42
PREMIUM INSIGHTS
46
MARKET OVERVIEW
50
  • 5.1 INTRODUCTION
  • 5.2 MARKET DYNAMICS
    DRIVERS
    - Growing penetration of metaverse
    - Rapid adoption of digital technologies in healthcare and gaming & entertainment sectors
    - Potential for transformative change across numerous industries
    - Significant adoption of HMDs
    - Emergence of virtual classrooms offering immersive and engaging learning experiences
    RESTRAINTS
    - Latency issues and high energy consumption
    - Health issues caused by excessive use of VR devices
    OPPORTUNITIES
    - Emerging applications of VR in telemedicine
    - Continuous developments in 5G technology
    - Growth of global travel & tourism industry
    CHALLENGES
    - Creating VR systems with user-friendly interface
    - Display latency and limited field of view
  • 5.3 TRENDS/DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESSES
  • 5.4 PRICING ANALYSIS
    AVERAGE SELLING PRICE TREND FOR TOP PLAYERS, BY HEAD-MOUNTED DISPLAY
    AVERAGE SELLING PRICE TREND, BY REGION
  • 5.5 VALUE CHAIN ANALYSIS
  • 5.6 ECOSYSTEM ANALYSIS
  • 5.7 INVESTMENT AND FUNDING SCENARIO
  • 5.8 TECHNOLOGY ANALYSIS
    KEY TECHNOLOGIES
    - Motion tracking
    - Haptic technology
    COMPLEMENTARY TECHNOLOGY
    - Cloud computing
    ADJACENT TECHNOLOGIES
    - Artificial Intelligence (AI)
    - 5G and high-speed networking
  • 5.9 PATENT ANALYSIS
  • 5.10 TRADE DATA ANALYSIS
    IMPORT DATA
    EXPORT DATA
  • 5.11 KEY CONFERENCES AND EVENTS
  • 5.12 CASE STUDY ANALYSIS
    EUROPEAN MANUFACTURING COMPANY TRANSFORMED MANUFACTURING TRAINING WITH INNOWISE’S VIRTUAL REALITY APP
    TSINGHUA UNIVERSITY PARTNERED WITH BARCO TO CREATE VIRTUAL SIMULATION DISASTER EMERGENCY RESPONSE LABORATORY
    NESTLE PURINA ACHIEVED EFFICIENCY AND GAINED PRODUCTIVITY WITH QUEST VR
    TATA STEEL LIMITED PARTNERED WITH STEEL SIM VR AND VARJO TO IMPROVE SAFETY AND REDUCE COSTS ASSOCIATED WITH TRADITIONAL TRAINING METHODS
  • 5.13 TARIFF AND REGULATORY LANDSCAPE
    COUNTRY-WISE TARIFFS FOR HS CODE 9504-COMPLIANT PRODUCTS
    REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
    REGULATORY STANDARDS
  • 5.14 PORTER’S FIVE FORCES ANALYSIS
    THREAT OF NEW ENTRANTS
    THREAT OF SUBSTITUTES
    BARGAINING POWER OF SUPPLIERS
    BARGAINING POWER OF BUYERS
    INTENSITY OF COMPETITIVE RIVALRY
  • 5.15 KEY STAKEHOLDERS AND BUYING CRITERIA
    KEY STAKEHOLDERS IN BUYING PROCESS
    BUYING CRITERIA
VIRTUAL REALITY MARKET, BY APPLICATION
84
  • 6.1 INTRODUCTION
  • 6.2 CONSUMERS
    INCREASING DEMAND, ADVANCED VIRTUAL REALITY HARDWARE EVOLUTION, AND REDUCED COSTS OF VIRTUAL REALITY DEVICES TO CONTRIBUTE TO MARKET GROWTH
    GAMING & ENTERTAINMENT
    SPORTS
    USE CASES OF VIRTUAL REALITY IN CONSUMER APPLICATIONS
  • 6.3 COMMERCIAL
    STREAMLINED LEARNING EXPERIENCES, EFFECTIVE PROMOTIONS, AND IMPACTFUL ADVERTISING TO FUEL DEMAND FOR VR IN RETAIL AND ECOMMERCE SECTORS
    RETAIL & ECOMMERCE
    EDUCATION & TRAINING
    TRAVEL & TOURISM
    ADVERTISING
    USE CASES OF VIRTUAL REALITY IN COMMERCIAL APPLICATIONS
  • 6.4 ENTERPRISES (MANUFACTURING)
    NEED FOR HEIGHTENED LEVEL OF IMMERSION AND ENHANCED COMPREHENSION FOR TRAINEES TO FOSTER MARKET GROWTH
    USE CASES OF VIRTUAL REALITY IN ENTERPRISE (MANUFACTURING) APPLICATIONS
  • 6.5 HEALTHCARE
    INCREASING ADOPTION OF VIRTUAL REALITY TO ENHANCE SURGICAL PLANNING, TRAINING, AND SKILL DEVELOPMENT TO ACCELERATE MARKET GROWTH
    SURGERY
    PATIENT CARE MANAGEMENT
    FITNESS MANAGEMENT
    PHARMACY MANAGEMENT
    MEDICAL TRAINING & EDUCATION
    USE CASES OF VIRTUAL REALITY IN HEALTHCARE APPLICATIONS
  • 6.6 AEROSPACE & DEFENSE
    INTEGRATION OF VIRTUAL REALITY IN COCKPIT DESIGN & TESTING AND VIRTUAL COMBAT TRAINING TO SUPPORT MARKET GROWTH
    USE CASES OF VIRTUAL REALITY IN AEROSPACE & DEFENSE APPLICATIONS
  • 6.7 OTHER APPLICATIONS
    AUTOMOTIVE
    REAL ESTATE (ARCHITECTURE & BUILDING DESIGN)
    GEOSPATIAL MINING
    USE CASES OF VIRTUAL REALITY IN OTHER APPLICATIONS
VIRTUAL REALITY MARKET, BY DEVICE TYPE
107
  • 7.1 INTRODUCTION
  • 7.2 HEAD-MOUNTED DISPLAYS
    WIDESPREAD USE OF HEAD-MOUNTED DISPLAY DEVICES IN GAMING AND ENTERTAINMENT APPLICATIONS TO DRIVE MARKET
  • 7.3 GESTURE-TRACKING DEVICES
    GESTURE-TRACKING DEVICES TO MONITOR PATIENTS’ MOVEMENTS, PROVIDE REAL-TIME FEEDBACK, AND IMPROVE EFFECTIVENESS OF TREATMENTS
    DATA GLOVES
    OTHER GESTURE-TRACKING DEVICES
  • 7.4 PROJECTORS & DISPLAY WALLS
    PROJECTORS AND DISPLAY WALLS TO ENABLE MULTIPLE USERS TO INTERACT WITH VIRTUAL ENVIRONMENTS OR LARGE-SCALE VISUALIZATIONS
VIRTUAL REALITY MARKET, BY OFFERING
118
  • 8.1 INTRODUCTION
  • 8.2 HARDWARE
    VIRTUAL REALITY HARDWARE DEVICES TO CREATE IMMERSIVE AND INTERACTIVE EXPERIENCES IN VARIOUS FIELDS
    SENSORS
    - Need to detect and capture motions, velocity, magnetic fields, and presence of objects to fuel demand for sensors
    - Accelerometers
    - Gyroscopes
    - Magnetometers
    - Proximity sensors
    SEMICONDUCTOR COMPONENTS
    - Significant role of controllers in smartphones and tablets to increase demand for virtual reality devices
    - Controllers & processors
    - Integrated circuits
    DISPLAY & PROJECTORS
    - Display & projectors to shape how users perceive and interact with digital content
    POSITION TRACKERS
    - Position trackers to monitor users’ movements accurately and position within virtual or augmented environments
    CAMERAS
    - Need to enhance user experience, capture user’s surroundings, and facilitate outside-in tracking to boost demand for cameras
    OTHER COMPONENTS
  • 8.3 SOFTWARE
    VIRTUAL REALITY SOFTWARE TO BLEND DIGITAL INFORMATION AND VIRTUAL OBJECTS SEAMLESSLY WITH REAL-WORLD ENVIRONMENT
    SDKS
    CLOUD-BASED SERVICES
VIRTUAL REALITY MARKET, BY TECHNOLOGY
130
  • 9.1 INTRODUCTION
  • 9.2 NON-IMMERSIVE TECHNOLOGY
    GROWING USE OF NON-IMMERSIVE TECHNOLOGY IN DEVELOPING VIRTUAL REALITY SOFTWARE TO DRIVE MARKET
  • 9.3 SEMI-IMMERSIVE AND FULLY IMMERSIVE TECHNOLOGY
    NEED FOR HIGH LEVEL OF IMMERSION AND AWARENESS OF PHYSICAL WORLD WHILE GAMING TO PROPEL MARKET
VIRTUAL REALITY MARKET, BY REGION
133
  • 10.1 INTRODUCTION
  • 10.2 NORTH AMERICA
    US
    - Presence of industry giants and need for VR to promote marketing campaigns to drive market
    CANADA
    - Need to streamline workflow automation, enhance operational efficiency, and deliver interactive information within tourism and hospitality sectors to propel market
    MEXICO
    - Advancements in commercial & consumer sectors and utilization of VR in real-life situations to stimulate market expansion
    RECESSION IMPACT ON VIRTUAL REALITY MARKET IN NORTH AMERICA
  • 10.3 EUROPE
    GERMANY
    - Widespread adoption of emerging technologies in enterprises to fuel demand for VR solutions
    FRANCE
    - High digital display adoption, increased spending on VR devices, and focus on online advertising to spur market growth
    UK
    - Ongoing investments, presence of major vendors, and predominant focus on content production to foster market growth
    REST OF EUROPE
    RECESSION IMPACT ON VIRTUAL REALITY MARKET IN EUROPE
  • 10.4 ASIA PACIFIC
    CHINA
    - Emergence of numerous start-ups, focus on exploring emerging technologies, and rising trends of expos and conferences to drive market
    INDIA
    - Heightened awareness of advanced technology and extensive R&D to accelerate market growth
    JAPAN
    - Growing integration of advanced technologies within healthcare sector to boost demand for VR solutions
    SOUTH KOREA
    - Digital transformation within industrial sector to stimulate market growth
    REST OF ASIA PACIFIC
    RECESSION IMPACT ON VIRTUAL REALITY MARKET IN ASIA PACIFIC
  • 10.5 ROW
    SOUTH AMERICA
    - Expanding consumer market, favorable low-interest rates, and robust commodity pricing to bolster market growth
    MIDDLE EAST & AFRICA
    - Rising incorporation of virtual reality into various applications of healthcare industry to propel market
    - GCC countries
    - Rest of Middle East & Africa
    RECESSION IMPACT ON VIRTUAL REALITY MARKET IN ROW
COMPETITIVE LANDSCAPE
155
  • 11.1 OVERVIEW
  • 11.2 KEY PLAYER STRATEGIES/RIGHT TO WIN
  • 11.3 MARKET SHARE ANALYSIS
  • 11.4 REVENUE ANALYSIS, 2019–2023
  • 11.5 COMPANY VALUATION AND FINANCIAL METRICS
    VIRTUAL REALITY MARKET: FINANCIAL METRICS
  • 11.6 VIRTUAL REALITY MARKET: BRAND/PRODUCT COMPARISON
  • 11.7 COMPANY EVALUATION MATRIX: KEY PLAYERS, 2023
    STARS
    EMERGING LEADERS
    PERVASIVE PLAYERS
    PARTICIPANTS
    COMPANY FOOTPRINT
    - Company footprint
    - Technology footprint
    - Offering footprint
    - Device type footprint
    - Application footprint
    - Regional footprint
  • 11.8 COMPANY EVALUATION MATRIX: START-UPS/SMES, 2023
    PROGRESSIVE COMPANIES
    RESPONSIVE COMPANIES
    DYNAMIC COMPANIES
    STARTING BLOCKS
    COMPETITIVE BENCHMARKING, START-UPS/SMES, 2023
    - Detailed list of key start-ups/SMEs
    COMPETITIVE BENCHMARKING OF KEY START-UPS/SMES
  • 11.9 COMPETITIVE SCENARIOS AND TRENDS
    PRODUCT LAUNCHES
    DEALS
COMPANY PROFILES
174
  • 12.1 KEY PLAYERS
    SONY
    - Business overview
    - Products/Solutions/Services offered
    - Recent developments
    - MnM view
    SAMSUNG ELECTRONICS CO., LTD.
    - Business overview
    - Products/Solutions/Services offered
    - MnM view
    MICROSOFT
    - Business overview
    - Products/Solutions/Services offered
    - Recent developments
    - MnM view
    META
    - Business overview
    - Products/Solutions/Services offered
    - Recent developments
    - MnM view
    HTC CORPORATION
    - Business overview
    - Products/Solutions/Services offered
    - Recent developments
    BARCO
    - Business overview
    - Products/Solutions/Services offered
    - Recent developments
    PICO IMMERSIVE PTE.LTD.
    - Business overview
    - Products/Solutions/Services offered
    - Recent developments
    CYBERGLOVE SYSTEMS INC.
    - Business overview
    - Products/Solutions/Services offered
    UNITY TECHNOLOGIES
    - Business overview
    - Products/Solutions/Services offered
    PENUMBRA, INC.
    - Business overview
    - Products/Solutions/Services offered
    - Recent developments
    DPVR
    - Business overview
    - Products/Solutions/Services offered
    - Recent developments
  • 12.2 OTHER PLAYERS
    ULTRALEAP
    FOVE INC
    QUYTECH
    HQSOFTWARE
    INNOWISE
    XRHEALTH IL LTD.
    VECTION TECHNOLOGIES
    MINDMAZE
    FIRSTHAND TECHNOLOGY
    WORLDVIZ, INC.
    VIRTUIX
    VIGHNESH INC.
    MERGE LABS, INC.
    SPACEVR
APPENDIX
215
  • 13.1 INSIGHTS FROM INDUSTRY EXPERTS
  • 13.2 DISCUSSION GUIDE
  • 13.3 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
  • 13.4 CUSTOMIZATION OPTIONS
  • 13.5 RELATED REPORTS
  • 13.6 AUTHOR DETAILS
LIST OF TABLES
 
  • TABLE 1 VIRTUAL REALITY MARKET: GROWTH ASSUMPTIONS
  • TABLE 2 VIRTUAL REALITY MARKET: RESEARCH ASSUMPTIONS
  • TABLE 3 VIRTUAL REALITY MARKET: RISK ASSESSMENT
  • TABLE 4 VIRTUAL REALITY MARKET: PARAMETERS CONSIDERED TO ANALYZE RECESSION IMPACT
  • TABLE 5 AVERAGE SELLING PRICE TREND, BY DEVICE TYPE, 2018–2023 (USD)
  • TABLE 6 AVERAGE SELLING PRICE TREND, BY REGION, 2019–2023 (USD)
  • TABLE 7 VIRTUAL REALITY MARKET: ECOSYSTEM
  • TABLE 8 INNOVATIONS AND PATENT REGISTRATIONS, 2022–2023
  • TABLE 9 IMPORT SCENARIO FOR HS CODE 9504-COMPLIANT PRODUCTS, BY COUNTRY, 2019–2023 (USD MILLION)
  • TABLE 10 EXPORT SCENARIO FOR HS CODE 9504-COMPLIANT PRODUCTS, BY COUNTRY, 2019–2023 (USD MILLION)
  • TABLE 11 KEY CONFERENCES AND EVENTS, 2024–2025
  • TABLE 12 MOST-FAVORED NATION TARIFF FOR HS CODE 9504-COMPLIANT PRODUCTS EXPORTED BY UNITED STATES, 2023
  • TABLE 13 NORTH AMERICA: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
  • TABLE 14 EUROPE: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
  • TABLE 15 ASIA PACIFIC: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
  • TABLE 16 REST OF THE WORLD: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
  • TABLE 17 PORTER’S FIVE FORCES’ IMPACT ON VIRTUAL REALITY MARKET
  • TABLE 18 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS, BY OFFERING (%)
  • TABLE 19 KEY BUYING CRITERIA, BY APPLICATION
  • TABLE 20 VIRTUAL REALITY MARKET, BY APPLICATION, 2020–2023 (USD MILLION)
  • TABLE 21 VIRTUAL REALITY MARKET, BY APPLICATION, 2024–2029 (USD MILLION)
  • TABLE 22 CONSUMERS: VIRTUAL REALITY MARKET, BY REGION, 2020–2023 (USD MILLION)
  • TABLE 23 CONSUMERS: VIRTUAL REALITY MARKET, BY REGION, 2024–2029 (USD MILLION)
  • TABLE 24 CONSUMERS: VIRTUAL REALITY MARKET, BY DEVICE TYPE, 2020–2023 (USD MILLION)
  • TABLE 25 CONSUMERS: VIRTUAL REALITY MARKET, BY DEVICE TYPE, 2024–2029 (USD MILLION)
  • TABLE 26 CONSUMERS: VIRTUAL REALITY MARKET, BY OFFERING, 2020–2023 (USD MILLION)
  • TABLE 27 CONSUMERS: VIRTUAL REALITY MARKET, BY OFFERING, 2024–2029 (USD MILLION)
  • TABLE 28 CONSUMERS: VIRTUAL REALITY MARKET, BY TECHNOLOGY, 2020–2023 (USD MILLION)
  • TABLE 29 CONSUMERS: VIRTUAL REALITY MARKET, BY TECHNOLOGY, 2024–2029 (USD MILLION)
  • TABLE 30 COMMERCIAL: VIRTUAL REALITY MARKET, BY REGION, 2020–2023 (USD MILLION)
  • TABLE 31 COMMERCIAL: VIRTUAL REALITY MARKET, BY REGION, 2024–2029 (USD MILLION)
  • TABLE 32 COMMERCIAL: VIRTUAL REALITY MARKET, BY DEVICE TYPE, 2020–2023 (USD MILLION)
  • TABLE 33 COMMERCIAL: VIRTUAL REALITY MARKET, BY DEVICE TYPE, 2024–2029 (USD MILLION)
  • TABLE 34 COMMERCIAL: VIRTUAL REALITY MARKET, BY OFFERING, 2020–2023 (USD MILLION)
  • TABLE 35 COMMERCIAL: VIRTUAL REALITY MARKET, BY OFFERING, 2024–2029 (USD MILLION)
  • TABLE 36 COMMERCIAL: VIRTUAL REALITY MARKET, BY TECHNOLOGY, 2020–2023 (USD MILLION)
  • TABLE 37 COMMERCIAL: VIRTUAL REALITY MARKET, BY TECHNOLOGY, 2024–2029 (USD MILLION)
  • TABLE 38 ENTERPRISES: VIRTUAL REALITY MARKET, BY REGION, 2020–2023 (USD MILLION)
  • TABLE 39 ENTERPRISES: VIRTUAL REALITY MARKET, BY REGION, 2024–2029 (USD MILLION)
  • TABLE 40 ENTERPRISES: VIRTUAL REALITY MARKET, BY DEVICE TYPE, 2020–2023 (USD MILLION)
  • TABLE 41 ENTERPRISES: VIRTUAL REALITY MARKET, BY DEVICE TYPE, 2024–2029 (USD MILLION)
  • TABLE 42 ENTERPRISES: VIRTUAL REALITY MARKET, BY OFFERING, 2020–2023 (USD MILLION)
  • TABLE 43 ENTERPRISES: VIRTUAL REALITY MARKET, BY OFFERING, 2024–2029 (USD MILLION)
  • TABLE 44 ENTERPRISES: VIRTUAL REALITY MARKET, BY TECHNOLOGY, 2020–2023 (USD MILLION)
  • TABLE 45 ENTERPRISES: VIRTUAL REALITY MARKET, BY TECHNOLOGY, 2024–2029 (USD MILLION)
  • TABLE 46 HEALTHCARE: VIRTUAL REALITY MARKET, BY REGION, 2020–2023 (USD MILLION)
  • TABLE 47 HEALTHCARE: VIRTUAL REALITY MARKET, BY REGION, 2024–2029 (USD MILLION)
  • TABLE 48 HEALTHCARE: VIRTUAL REALITY MARKET, BY DEVICE TYPE, 2020–2023 (USD MILLION)
  • TABLE 49 HEALTHCARE: VIRTUAL REALITY MARKET, BY DEVICE TYPE, 2024–2029 (USD MILLION)
  • TABLE 50 HEALTHCARE: VIRTUAL REALITY MARKET, BY OFFERING, 2020–2023 (USD MILLION)
  • TABLE 51 HEALTHCARE VIRTUAL REALITY MARKET, BY OFFERING, 2024–2029 (USD MILLION)
  • TABLE 52 HEALTHCARE: VIRTUAL REALITY MARKET, BY TECHNOLOGY, 2020–2023 (USD MILLION)
  • TABLE 53 HEALTHCARE: VIRTUAL REALITY MARKET, BY TECHNOLOGY, 2024–2029 (USD MILLION)
  • TABLE 54 AEROSPACE & DEFENSE: VIRTUAL REALITY MARKET, BY REGION, 2020–2023 (USD MILLION)
  • TABLE 55 AEROSPACE & DEFENSE: VIRTUAL REALITY MARKET, BY REGION, 2024–2029 (USD MILLION)
  • TABLE 56 AEROSPACE & DEFENSE: VIRTUAL REALITY MARKET, BY DEVICE TYPE, 2020–2023 (USD MILLION)
  • TABLE 57 AEROSPACE & DEFENSE: VIRTUAL REALITY MARKET, BY DEVICE TYPE, 2024–2029 (USD MILLION)
  • TABLE 58 AEROSPACE & DEFENSE: VIRTUAL REALITY MARKET, BY OFFERING, 2020–2023 (USD MILLION)
  • TABLE 59 AEROSPACE & DEFENSE: VIRTUAL REALITY MARKET, BY OFFERING, 2024–2029 (USD MILLION)
  • TABLE 60 AEROSPACE & DEFENSE: VIRTUAL REALITY MARKET, BY TECHNOLOGY, 2020–2023 (USD MILLION)
  • TABLE 61 AEROSPACE & DEFENSE: VIRTUAL REALITY MARKET, BY TECHNOLOGY, 2024–2029 (USD MILLION)
  • TABLE 62 OTHER APPLICATIONS: VIRTUAL REALITY MARKET, BY REGION, 2020–2023 (USD MILLION)
  • TABLE 63 OTHER APPLICATIONS: VIRTUAL REALITY MARKET, BY REGION, 2024–2029 (USD MILLION)
  • TABLE 64 OTHER APPLICATIONS: VIRTUAL REALITY MARKET, BY DEVICE TYPE, 2020–2023 (USD MILLION)
  • TABLE 65 OTHER APPLICATIONS: VIRTUAL REALITY MARKET, BY DEVICE TYPE, 2024–2029 (USD MILLION)
  • TABLE 66 OTHER APPLICATIONS: VIRTUAL REALITY MARKET, BY OFFERING, 2020–2023 (USD MILLION)
  • TABLE 67 OTHER APPLICATIONS: VIRTUAL REALITY MARKET, BY OFFERING, 2024–2029 (USD MILLION)
  • TABLE 68 OTHER APPLICATIONS: VIRTUAL REALITY MARKET, BY TECHNOLOGY, 2020–2023 (USD MILLION)
  • TABLE 69 OTHER APPLICATIONS: VIRTUAL REALITY MARKET, BY TECHNOLOGY, 2024–2029 (USD MILLION)
  • TABLE 70 VIRTUAL REALITY MARKET, BY DEVICE TYPE, 2020–2023 (USD MILLION)
  • TABLE 71 VIRTUAL REALITY MARKET, BY DEVICE TYPE, 2024–2029 (USD MILLION)
  • TABLE 72 VIRTUAL REALITY MARKET, BY DEVICE TYPE, 2020–2023 (THOUSAND UNITS)
  • TABLE 73 VIRTUAL REALITY MARKET, BY DEVICE TYPE, 2024–2029 (THOUSAND UNITS)
  • TABLE 74 HEAD-MOUNTED DISPLAYS: VIRTUAL REALITY MARKET, BY COMPONENT, 2020–2023 (USD MILLION)
  • TABLE 75 HEAD-MOUNTED DISPLAYS: VIRTUAL REALITY MARKET, BY COMPONENT, 2024–2029 (USD MILLION)
  • TABLE 76 HEAD-MOUNTED DISPLAYS: VIRTUAL REALITY MARKET, BY APPLICATION, 2020–2023 (USD MILLION)
  • TABLE 77 HEAD-MOUNTED DISPLAYS: VIRTUAL REALITY MARKET, BY APPLICATION, 2024–2029 (USD MILLION)
  • TABLE 78 GESTURE-TRACKING DEVICES: VIRTUAL REALITY MARKET, BY COMPONENT, 2020–2023 (USD MILLION)
  • TABLE 79 GESTURE-TRACKING DEVICES: VIRTUAL REALITY MARKET, BY COMPONENT, 2024–2029 (USD MILLION)
  • TABLE 80 GESTURE-TRACKING DEVICES: VIRTUAL REALITY MARKET, BY APPLICATION, 2020–2023 (USD MILLION)
  • TABLE 81 GESTURE-TRACKING DEVICES: VIRTUAL REALITY MARKET, BY APPLICATION, 2024–2029 (USD MILLION)
  • TABLE 82 PROJECTORS & DISPLAY WALLS: VIRTUAL REALITY MARKET, BY COMPONENT, 2020–2023 (USD MILLION)
  • TABLE 83 PROJECTORS & DISPLAY WALLS: VIRTUAL REALITY MARKET, BY COMPONENT, 2024–2029 (USD MILLION)
  • TABLE 84 PROJECTORS & DISPLAY WALLS: VIRTUAL REALITY MARKET, BY APPLICATION, 2020–2023 (USD MILLION)
  • TABLE 85 PROJECTORS & DISPLAY WALLS: VIRTUAL REALITY MARKET, BY APPLICATION, 2024–2029 (USD MILLION)
  • TABLE 86 VIRTUAL REALITY MARKET, BY OFFERING, 2020–2023 (USD MILLION)
  • TABLE 87 VIRTUAL REALITY MARKET, BY OFFERING, 2024–2029 (USD MILLION)
  • TABLE 88 HARDWARE: VIRTUAL REALITY MARKET, BY COMPONENT, 2020–2023 (USD MILLION)
  • TABLE 89 HARDWARE: VIRTUAL REALITY MARKET, BY COMPONENT, 2024–2029 (USD MILLION)
  • TABLE 90 HARDWARE: VIRTUAL REALITY MARKET, BY APPLICATION, 2020–2023 (USD MILLION)
  • TABLE 91 HARDWARE: VIRTUAL REALITY MARKET, BY APPLICATION, 2024–2029 (USD MILLION)
  • TABLE 92 SENSORS: VIRTUAL REALITY MARKET, BY DEVICE TYPE, 2020–2023 (USD MILLION)
  • TABLE 93 SENSORS: VIRTUAL REALITY MARKET, BY DEVICE TYPE, 2024–2029 (USD MILLION)
  • TABLE 94 SEMICONDUCTOR COMPONENTS: VIRTUAL REALITY MARKET, BY DEVICE TYPE, 2020–2023 (USD MILLION)
  • TABLE 95 SEMICONDUCTOR COMPONENTS: VIRTUAL REALITY MARKET, BY DEVICE TYPE, 2024–2029 (USD MILLION)
  • TABLE 96 DISPLAY & PROJECTORS: VIRTUAL REALITY MARKET, BY DEVICE TYPE, 2020–2023 (USD MILLION)
  • TABLE 97 DISPLAY & PROJECTORS: VIRTUAL REALITY MARKET, BY DEVICE TYPE, 2024–2029 (USD MILLION)
  • TABLE 98 POSITION TRACKERS: VIRTUAL REALITY MARKET, BY DEVICE TYPE, 2020–2023 (USD MILLION)
  • TABLE 99 POSITION TRACKERS: VIRTUAL REALITY MARKET, BY DEVICE TYPE, 2024–2029 (USD MILLION)
  • TABLE 100 CAMERAS: VIRTUAL REALITY MARKET, BY DEVICE TYPE, 2020–2023 (USD MILLION)
  • TABLE 101 CAMERAS: VIRTUAL REALITY MARKET, BY DEVICE TYPE, 2024–2029 (USD MILLION)
  • TABLE 102 OTHER COMPONENTS: VIRTUAL REALITY MARKET, BY DEVICE TYPE, 2020–2023 (USD MILLION)
  • TABLE 103 OTHER COMPONENTS: VIRTUAL REALITY MARKET, BY DEVICE TYPE, 2024–2029 (USD MILLION)
  • TABLE 104 SOFTWARE: VIRTUAL REALITY MARKET, BY APPLICATION, 2020–2023 (USD MILLION)
  • TABLE 105 SOFTWARE: VIRTUAL REALITY MARKET, BY APPLICATION, 2024–2029 (USD MILLION)
  • TABLE 106 VIRTUAL REALITY MARKET, BY TECHNOLOGY, 2020–2023 (USD MILLION)
  • TABLE 107 VIRTUAL REALITY MARKET, BY TECHNOLOGY, 2024–2029 (USD MILLION)
  • TABLE 108 VIRTUAL REALITY MARKET, BY REGION, 2020–2023 (USD MILLION)
  • TABLE 109 VIRTUAL REALITY MARKET, BY REGION, 2024–2029 (USD MILLION)
  • TABLE 110 NORTH AMERICA: VIRTUAL REALITY MARKET, BY COUNTRY, 2020–2023 (USD MILLION)
  • TABLE 111 NORTH AMERICA: VIRTUAL REALITY MARKET, BY COUNTRY, 2024–2029 (USD MILLION)
  • TABLE 112 NORTH AMERICA: VIRTUAL REALITY MARKET, BY APPLICATION, 2020–2023 (USD MILLION)
  • TABLE 113 NORTH AMERICA: VIRTUAL REALITY MARKET, BY APPLICATION, 2024–2029 (USD MILLION)
  • TABLE 114 EUROPE: VIRTUAL REALITY MARKET, BY COUNTRY, 2020–2023 (USD MILLION)
  • TABLE 115 EUROPE: VIRTUAL REALITY MARKET, BY COUNTRY, 2024–2029 (USD MILLION)
  • TABLE 116 EUROPE: VIRTUAL REALITY MARKET, BY APPLICATION, 2020–2023 (USD MILLION)
  • TABLE 117 EUROPE: VIRTUAL REALITY MARKET, BY APPLICATION, 2024–2029 (USD MILLION)
  • TABLE 118 ASIA PACIFIC: VIRTUAL REALITY MARKET, BY COUNTRY, 2020–2023 (USD MILLION)
  • TABLE 119 ASIA PACIFIC: VIRTUAL REALITY MARKET, BY COUNTRY, 2024–2029 (USD MILLION)
  • TABLE 120 ASIA PACIFIC: VIRTUAL REALITY MARKET, BY APPLICATION, 2020–2023 (USD MILLION)
  • TABLE 121 ASIA PACIFIC: VIRTUAL REALITY MARKET, BY APPLICATION, 2024–2029 (USD MILLION)
  • TABLE 122 ROW: VIRTUAL REALITY MARKET, BY SUBREGION, 2020–2023 (USD MILLION)
  • TABLE 123 ROW: VIRTUAL REALITY MARKET, BY SUBREGION, 2024–2029 (USD MILLION)
  • TABLE 124 ROW: VIRTUAL REALITY MARKET, BY APPLICATION, 2020–2023 (USD MILLION)
  • TABLE 125 ROW: VIRTUAL REALITY MARKET, BY APPLICATION, 2024–2029 (USD MILLION)
  • TABLE 126 MIDDLE EAST & AFRICA: VIRTUAL REALITY MARKET, BY COUNTRY, 2020–2023 (USD MILLION)
  • TABLE 127 MIDDLE EAST & AFRICA: VIRTUAL REALITY MARKET, BY REGION, 2024–2029 (USD MILLION)
  • TABLE 128 OVERVIEW OF STRATEGIES ADOPTED BY KEY PLAYERS
  • TABLE 129 VIRTUAL REALITY MARKET: DEGREE OF COMPETITION, 2023
  • TABLE 130 VIRTUAL REALITY MARKET: TECHNOLOGY FOOTPRINT
  • TABLE 131 VIRTUAL REALITY MARKET: OFFERING FOOTPRINT
  • TABLE 132 VIRTUAL REALITY MARKET: DEVICE TYPE FOOTPRINT
  • TABLE 133 VIRTUAL REALITY MARKET: APPLICATION FOOTPRINT
  • TABLE 134 VIRTUAL REALITY MARKET: REGIONAL FOOTPRINT
  • TABLE 135 VIRTUAL REALITY MARKET: LIST OF KEY START-UPS/SMES
  • TABLE 136 VIRTUAL REALITY MARKET: COMPETITIVE BENCHMARKING OF KEY START-UPS/SMES
  • TABLE 137 VIRTUAL REALITY MARKET: PRODUCT LAUNCHES, 2020–2023
  • TABLE 138 VIRTUAL REALITY MARKET: DEALS, 2020–2023
  • TABLE 139 SONY: BUSINESS OVERVIEW
  • TABLE 140 SONY: PRODUCTS/SOLUTIONS/SERVICES OFFERED
  • TABLE 141 SONY: PRODUCT LAUNCHES AND ENHANCEMENTS
  • TABLE 142 SAMSUNG ELECTRONICS CO., LTD.: BUSINESS OVERVIEW
  • TABLE 143 SAMSUNG ELECTRONICS CO., LTD.: PRODUCTS/SOLUTIONS/SERVICES OFFERED
  • TABLE 144 MICROSOFT: BUSINESS OVERVIEW
  • TABLE 145 MICROSOFT: PRODUCTS/SOLUTIONS/SERVICES OFFERED
  • TABLE 146 MICROSOFT: DEALS
  • TABLE 147 META: BUSINESS OVERVIEW
  • TABLE 148 META: PRODUCTS/SOLUTIONS/SERVICES OFFERED
  • TABLE 149 META: PRODUCT LAUNCHES AND ENHANCEMENTS
  • TABLE 150 META: DEALS
  • TABLE 151 HTC CORPORATION: BUSINESS OVERVIEW
  • TABLE 152 HTC CORPORATION: PRODUCTS/SOLUTIONS/SERVICES OFFERED
  • TABLE 153 HTC CORPORATION: PRODUCT LAUNCHES AND ENHANCEMENTS
  • TABLE 154 BARCO: BUSINESS OVERVIEW
  • TABLE 155 BARCO: PRODUCTS/SOLUTIONS/SERVICES OFFERED
  • TABLE 156 BARCO: DEALS
  • TABLE 157 PICO IMMERSIVE PTE. LTD.: BUSINESS OVERVIEW
  • TABLE 158 PICO IMMERSIVE PTE.LTD.: PRODUCTS/SOLUTIONS/SERVICES OFFERED
  • TABLE 159 PICO IMMERSIVE PTE.LTD.: PRODUCT LAUNCHES AND ENHANCEMENTS
  • TABLE 160 CYBERGLOVE SYSTEMS INC.: BUSINESS OVERVIEW
  • TABLE 161 CYBERGLOVE SYSTEMS INC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED
  • TABLE 162 UNITY TECHNOLOGIES: BUSINESS OVERVIEW
  • TABLE 163 UNITY TECHNOLOGIES: PRODUCTS/SOLUTIONS/SERVICES OFFERED
  • TABLE 164 PENUMBRA, INC.: BUSINESS OVERVIEW
  • TABLE 165 PENUMBRA, INC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED
  • TABLE 166 PENUMBRA, INC.: PRODUCT LAUNCHES AND ENHANCEMENTS
  • TABLE 167 PENUMBRA, INC.: DEALS
  • TABLE 168 DPVR: BUSINESS OVERVIEW
  • TABLE 169 DPVR: PRODUCTS/SOLUTIONS/SERVICES OFFERED
  • TABLE 170 DPVR: PRODUCT LAUNCHES AND ENHANCEMENTS
  • TABLE 171 DPVR: DEALS
LIST OF FIGURES
 
  • FIGURE 1 MARKET SEGMENTATION
  • FIGURE 2 VIRTUAL REALITY MARKET: RESEARCH DESIGN
  • FIGURE 3 VIRTUAL REALITY MARKET: RESEARCH APPROACH
  • FIGURE 4 REVENUE GENERATED FROM SALES OF VIRTUAL REALITY SOLUTIONS
  • FIGURE 5 VIRTUAL REALITY MARKET: REVENUE ANALYSIS OF SONY
  • FIGURE 6 VIRTUAL REALITY MARKET: SUPPLY-SIDE ANALYSIS
  • FIGURE 7 VIRTUAL REALITY MARKET: BOTTOM-UP APPROACH
  • FIGURE 8 VIRTUAL REALITY MARKET: TOP-DOWN APPROACH
  • FIGURE 9 VIRTUAL REALITY MARKET: DATA TRIANGULATION
  • FIGURE 10 VIRTUAL REALITY MARKET, 2020–2029 (USD MILLION)
  • FIGURE 11 SOFTWARE SEGMENT TO WITNESS HIGHER CAGR DURING FORECAST PERIOD
  • FIGURE 12 GESTURE-TRACKING DEVICES SEGMENT TO RECORD SIGNIFICANT CAGR DURING FORECAST PERIOD
  • FIGURE 13 HEALTHCARE SEGMENT TO RECORD HIGHEST CAGR DURING FORECAST PERIOD
  • FIGURE 14 ASIA PACIFIC TO RECORD HIGHEST CAGR DURING FORECAST PERIOD
  • FIGURE 15 CONTINUOUS TECHNOLOGICAL ADVANCEMENTS IN VARIOUS SECTORS AND GROWING PENETRATION OF METAVERSE TO DRIVE MARKET
  • FIGURE 16 DISPLAY & PROJECTORS SEGMENT TO RECORD HIGHEST CAGR DURING FORECAST PERIOD
  • FIGURE 17 AEROSPACE & DEFENSE SEGMENT TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD
  • FIGURE 18 HEALTHCARE SEGMENT TO RECORD HIGHEST CAGR DURING FORECAST PERIOD
  • FIGURE 19 GESTURE-TRACKING DEVICES SEGMENT TO WITNESS SIGNIFICANT CAGR DURING FORECAST PERIOD
  • FIGURE 20 ASIA PACIFIC TO HOLD LARGEST MARKET SHARE IN 2029
  • FIGURE 21 CHINA TO RECORD HIGHEST CAGR DURING FORECAST PERIOD
  • FIGURE 22 VIRTUAL REALITY MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES
  • FIGURE 23 VIRTUAL REALITY MARKET: IMPACT OF DRIVERS
  • FIGURE 24 VIRTUAL REALITY MARKET: IMPACT OF RESTRAINTS
  • FIGURE 25 VIRTUAL REALITY MARKET: IMPACT OF OPPORTUNITIES
  • FIGURE 26 VIRTUAL REALITY MARKET: IMPACT OF CHALLENGES
  • FIGURE 27 TRENDS/DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESSES
  • FIGURE 28 AVERAGE SELLING PRICE TREND FOR TOP PLAYERS, BY HEAD-MOUNTED DISPLAY
  • FIGURE 29 VIRTUAL REALITY MARKET: VALUE CHAIN ANALYSIS
  • FIGURE 30 KEY PLAYERS IN VIRTUAL REALITY MARKET ECOSYSTEM
  • FIGURE 31 INVESTMENT AND FUNDING SCENARIO
  • FIGURE 32 LIST OF MAJOR PATENTS FOR VIRTUAL REALITY, 2013–2023
  • FIGURE 33 REGIONAL ANALYSIS OF PATENTS, 2013–2023
  • FIGURE 34 IMPORT DATA FOR HS CODE 9504-COMPLIANT PRODUCTS, BY COUNTRY, 2019–2023 (USD MILLION)
  • FIGURE 35 EXPORT DATA FOR HS CODE 9504-COMPLIANT PRODUCTS, BY COUNTRY, 2019–2023 (USD MILLION)
  • FIGURE 36 PORTER’S FIVE FORCES’ ANALYSIS: VIRTUAL REALITY MARKET
  • FIGURE 37 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS, BY OFFERING
  • FIGURE 38 KEY BUYING CRITERIA, BY APPLICATION
  • FIGURE 39 CONSUMERS SEGMENT TO ACCOUNT FOR LARGEST MARKET DURING FORECAST PERIOD
  • FIGURE 40 HEAD-MOUNTED DISPLAYS SEGMENT FOR CONSUMERS TO ACCOUNT FOR LARGEST MARKET DURING FORECAST PERIOD
  • FIGURE 41 HEAD-MOUNTED DISPLAYS SEGMENT TO HOLD LARGEST MARKET DURING FORECAST PERIOD
  • FIGURE 42 DISPLAY & PROJECTORS SEGMENT FOR HEAD-MOUNTED DISPLAYS TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD
  • FIGURE 43 DISPLAY & PROJECTORS SEGMENT FOR GESTURE-TRACKING DEVICES TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD
  • FIGURE 44 DISPLAY & PROJECTORS SEGMENT FOR PROJECTORS & DISPLAY WALLS TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD
  • FIGURE 45 SOFTWARE SEGMENT TO CAPTURE LARGER MARKET DURING FORECAST PERIOD
  • FIGURE 46 DISPLAY & PROJECTORS FOR HARDWARE SEGMENT TO CAPTURE LARGEST MARKET DURING FORECAST PERIOD
  • FIGURE 47 SEMI & FULLY IMMERSIVE SEGMENT TO CAPTURE LARGER MARKET DURING FORECAST PERIOD
  • FIGURE 48 NORTH AMERICA ACCOUNTED FOR LARGEST MARKET IN 2023
  • FIGURE 49 NORTH AMERICA: VIRTUAL REALITY MARKET SNAPSHOT
  • FIGURE 50 EUROPE: VIRTUAL REALITY MARKET SNAPSHOT
  • FIGURE 51 ASIA PACIFIC: VIRTUAL REALITY MARKET SNAPSHOT
  • FIGURE 52 VIRTUAL REALITY MARKET SHARE ANALYSIS, 2023
  • FIGURE 53 VIRTUAL REALITY MARKET: REVENUE ANALYSIS OF TOP PLAYERS, 2019–2023
  • FIGURE 54 COMPANY VALUATION AND FINANCIAL METRICS: VIRTUAL REALITY MARKET
  • FIGURE 55 FINANCIAL METRICS (EV/EBITDA), 2023
  • FIGURE 56 BRAND COMPARISON
  • FIGURE 57 VIRTUAL REALITY MARKET: COMPANY EVALUATION MATRIX FOR KEY PLAYERS, 2023
  • FIGURE 58 VIRTUAL REALITY MARKET: OVERALL COMPANY FOOTPRINT
  • FIGURE 59 VIRTUAL REALITY MARKET: COMPANY EVALUATION MATRIX FOR START-UPS/SMES, 2023
  • FIGURE 60 SONY: COMPANY SNAPSHOT
  • FIGURE 61 SAMSUNG ELECTRONICS CO., LTD.: COMPANY SNAPSHOT
  • FIGURE 62 MICROSOFT: COMPANY SNAPSHOT
  • FIGURE 63 META: COMPANY SNAPSHOT
  • FIGURE 64 HTC CORPORATION: COMPANY SNAPSHOT
  • FIGURE 65 BARCO: COMPANY SNAPSHOT
  • FIGURE 66 UNITY TECHNOLOGIES: COMPANY SNAPSHOT
  • FIGURE 67 PENUMBRA, INC.: COMPANY SNAPSHOT

The study involved four major activities in estimating the size of the virtual reality market. Exhaustive secondary research has been carried out to collect information on the market, the peer markets, and the parent market. Both top-down and bottom-up approaches have been employed to estimate the total market size. Market breakdown and data triangulation methods have also been used to estimate the market for segments and subsegments.

Secondary Research

Revenues of companies offering virtual reality systems have been obtained from the secondary data available through paid and unpaid sources. The revenues have also been derived by analyzing the product portfolio of key companies, and these companies have been rated according to the performance and quality of their products.

In the secondary research process, various sources have been referred to for identifying and collecting information for this study on the virtual reality market. Secondary sources considered for this research study include government sources, corporate filings, and trade, business, and professional associations. Secondary data has been collected and analyzed to arrive at the overall market size, which has been further validated through primary research.    

Secondary research has been mainly used to obtain key information about the supply chain of virtual reality systems to identify key players based on their products and prevailing industry trends in the virtual reality market by technology, type, product type, end-user industry, and region. Secondary research also helped obtain market information- and technology-oriented key developments undertaken by market players to expand their presence and increase their market share.  

Primary Research

Extensive primary research has been conducted after understanding and analyzing the current scenario of the virtual reality market through secondary research. Several primary interviews have been conducted with the key opinion leaders from the demand and supply sides across four main regions—North America, Europe, Asia Pacific, and the Rest of Europe. Approximately 25% of the primary interviews were conducted with the demand-side respondents, while approximately 75% were conducted with the supply-side respondents. The primary data has been collected through questionnaires, emails, and telephone interviews.

After interacting with industry experts, brief sessions were conducted with highly experienced independent consultants to reinforce the findings from our primary. This, along with the in-house subject matter experts’ opinions, has led us to the findings as described in the remainder of this report. The breakdown of primary respondents is as follows:

Virtual Reality Market
 Size, and Share

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

The bottom-up procedure has been employed to arrive at the overall size of the virtual reality market.

  • Identifying application wherein virtual reality systems are deployed or are expected to use
  • Analyzing major providers of virtual reality equipment’s and original equipment manufacturers (OEMs), as well as studying their portfolios and understanding different technologies used
  • Analyzing the average selling price of virtual reality systems powered by different technologies
  • Arriving at the market estimates by analyzing the revenue of companies and then combining these figures to arrive at the market size
  • Studying various paid and unpaid sources, such as annual reports, press releases, white papers, and databases, to gather the required information
  • Tracking the ongoing developments and identifying the upcoming developments in the market that include investments, research and development activities, product launches, contracts, collaborations, and partnerships undertaken, and forecasting the market size based on these developments
  • Carrying out multiple discussions with key opinion leaders to understand the types of virtual reality products, services, and software designed and developed, thereby analyzing the break-up of the scope of work carried out by the major companies in the virtual reality market
  • Arriving at the market estimates by analyzing the revenue generated by key companies providing virtual reality products on the basis of their locations (countries) and then combining the market size for each country to get the market estimate by region
  • Verifying and crosschecking the estimates at every level by discussing with key opinion leaders, including CXOs, directors, and operation managers, and then finally with the domain experts at MarketsandMarkets
  • Studying various paid and unpaid sources of information, such as annual reports, press releases, white papers, and databases

Virtual Reality Market
 Size, and Bottom-up Approach

The top-down approach has been used to estimate and validate the total size of the virtual reality market.

  • Focusing on top-line investments and expenditures being made in the ecosystems of various applications
  • Calculating the market size, considering revenues from major players through the cost of virtual reality systems
  • Segmenting each application of the virtual reality system in each region and deriving the global market size based on the region
  • Acquiring and analyzing information related to revenues generated by players through their crucial product offerings
  • Conducting multiple on-field discussions with key opinion leaders involved in developing various virtual reality solutions
  • Estimating geographical splits by using secondary sources on the basis of various factors, such as the number of players in a specific country and region, types of virtual reality products/solutions, and levels of services offered across several application

Virtual Reality Market
 Size, and Top-Down Approach

Data Triangulation

After arriving at the overall market size-using the market size estimation processes as explained above-the market has been split into several segments and subsegments. To complete the entire 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 the demand and supply sides in the virtual reality market.

Market Definition

Virtual Reality (VR) is a simulated experience that employs 3D near-eye displays and pose tracking to give the user an immersive feel of a virtual world. It creates simulated environments that can be similar to or entirely different from the real world, with applications in entertainment, education, healthcare, and marketing These environments are designed to be immersive and interactive, allowing users to feel like they are truly present within the virtual world. VR typically utilizes headsets with near-eye displays and tracking mechanisms to create a sense of movement and position within the simulation. It can also incorporate other sensory elements like sound and haptics to further enhance the experience.

Key Stakeholders

  •  Raw material and manufacturing equipment suppliers
  • Semiconductor foundries
  • Original equipment manufacturers (OEMs)
  • Augmented reality and virtual reality device manufacturers
  • Original design manufacturers (ODMs) and OEM technology solution providers
  • Research organizations
  • Technology standard organizations, forums, alliances, and associations
  • Technology investors
  • Governments, financial institutions, and investment communities
  • Analysts and strategic business planners

Report Objectives

  • To describe and forecast the size of the virtual reality market, by technology, offering device type, application, and region, in terms of value
  • To describe and forecast the market size of various segments across four key regions—North America, Europe, Asia Pacific, and Rest of the World (RoW), in terms of value
  • To forecast the size of the virtual reality market by device type, in terms of volume
  • To provide detailed information regarding the drivers, restraints, opportunities, and challenges influencing the growth of the virtual reality market 
  • To analyze the virtual reality value chain and ecosystem, along with the average selling price of virtual reality systems
  • To strategically analyze the regulatory landscape, tariff, standards, patents, Porter’s five forces, import and export scenarios, trade values, and case studies pertaining to the market under study
  • To strategically analyze micromarkets1 with regard to individual growth trends, prospects, and contributions to the overall market
  • To analyze opportunities in the market for stakeholders by identifying high-growth segments
  • To provide details of the competitive landscape for market leaders
  • To analyze strategies such as product launches, expansion, collaborations, acquisitions, partnerships, and expansions adopted by players in the virtual reality market
  • To profile key players in the virtual reality market and comprehensively analyze their market ranking based on their revenue, market share, and core competencies2

Available customizations:

With the given market data, MarketsandMarkets offers customizations according to the specific requirements of companies. The following customization options are available for the report:

  • Detailed analysis and profiling of additional market players based on various blocks of the supply chain

Previous Versions of this Report

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

Report Code SE 3528
Published in Aug, 2020, By MarketsandMarkets™

Virtual Reality Market by Offering (Hardware and Software), Technology, Device Type (Head-Mounted Display, Gesture-Tracking Device), Application (Consumer, Commercial, Enterprise, Healthcare, Aerospace & Defense) and Geography - Global Forecast to 2024

Report Code SE 3528
Published in Jan, 2019, By MarketsandMarkets™

Virtual Reality Market by Component (Hardware and Software), Technology (Non-Immersive, Semi- & Fully Immersive), Device Type (Head-Mounted Display, Gesture Control Device), Application and Geography - Global Forecast to 2022

Report Code SE 3528
Published in Jul, 2016, By MarketsandMarkets™

Virtual Reality Market by Technology (Semi & Fully Immersive), Device (HMD, gesture Tracking), Component (Sensor, Display, Software), Application (Gaming, Entertainment, and Industrial), Geography - Trends & Forecasts to 2014-2020

Report Code SE 3528
Published in Jun, 2015, By MarketsandMarkets™

Virtual Reality Market by Technology (Semi & Fully Immersive), Device (HMD, gesture Tracking), Component (Sensor, Display, Software), Application (Gaming, Entertainment, and Industrial), Geography - Trends & Forecasts to 2014-2020

Report Code SE 3528
Published in Jan, 2011, By MarketsandMarkets™

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Growth opportunities and latent adjacency in Virtual Reality (VR) Market

BRIZARD

Apr, 2022

Hi, I wanted to understand the VR market in Asia. Could you please share a sample?.

Tomas

Apr, 2022

Valorizar Economicamente el crecimiento del Mercado de Realidad Virtual los próximos 5 años.

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