Virtual Reality Market

Virtual Reality Market 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 Aug, 2020, by marketsandmarkets.com

The virtual reality market is projected to grow from USD 6.1 billion in 2020 to USD 20.9 billion by 2025, at a CAGR of 27.9% from 2020 to 2025. Virtual reality (VR) technology provides the user a virtual environment with the help of computer hardware and software.

It provides a fully immersive environment in which the user can interact with objects similar to those in the real world. The VR technology works on components such as gesture recognition systems, sensors, and embedded electronic components. The processor helps to execute the input and gives an output by which the user can perceive that the object is a part of the environment. Virtual reality technology has several uses, especially in the military, consumer, training, education, and retail sectors.

Virtual Reality Market

Virtual Reality Market Forecast to 2025

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The virtual reality (VR) technology has been in existence for decades; however, new technologies are evolving to make an effective contribution to thriving segments such as gaming, retail, military, and healthcare. VR creates a virtual environment in which a user can interact with objects similar to those in the real world.

The technology requires computer hardware and software and offers a fully immersive experience to the user. The VR technology is classified into 3 sections, namely, non-immersive, semi-immersive, and fully immersive technology. The VR environment can be experienced with the help of various VR devices such as head-mounted displays, gesture-tracking devices, video/display walls, and projectors.

The use of virtual reality in the gaming and entertainment sectors has been driving the growth of the market. The increased interest of the large technology companies in these emerging technologies, such as virtual reality and augmented reality, has been one of the major driving factors for the virtual reality market. The lack of awareness regarding the advantages using VR devices is a major challenge for the industry. The increase in the number of start-ups in APAC is also supporting the growth of the virtual reality market.

The major drivers for the virtual reality market include penetration of HMDs in gaming and entertainment sectors after COVID-19, high investments in VR market, advancements of technologies and growing digitization, availability of affordable VR devices, and growing adoption of HMDs in different industries.

Virtual Reality Market Dynamics:

Driver: Growing adoption HMDs in different industries

Modern devices are compact, portable, and convenient to use. They are used to represent graphical and pictorial information. These devices are required to be compact and simple with high-resolution displays.

The demand for HMDs, HUDs, and VR projectors is increasing significantly in several industries, including consumer electronics, aerospace & defense, medical, and automotive. VR HMDs are gaining popularity in consumer applications for gaming and viewing entertaining content; however, the majority of VR HMDs use direct-view OELD displays with the panel size ranging from 2 to 6 inches. Considering the popularity and demand for VR HMDs, the key display manufacturers are developing a better display for VR HMDs—for instance, Kopin has developed a microdisplay, especially for VR HMDs.

The large, cost-effective OLED microdisplay (LOMID) project has led to the development of CMOS/OLED microdisplays for use in VR HMDs. Microdisplays can emerge as mainstream display modules for VR HMDs owing to the limitation of direct-view displays. Considering the developments mentioned above in improving VR display, the demand for VR HMDs is anticipated to surge among technocrats, which will drive the global VR market’s growth. Besides, HMDs play a vital role in a number of applications, such as flight simulation, scientific visualization, medicine, engineering, designing and prototyping, education and training, wearable computing, and entertainment solutions. They provide a good balance of affordability and unique capabilities than 3D displays.

Restraint: Health concerns relating to low resolution and lack of movement

The major restraint associated with immersive user experience is the lack of movement while using headsets. Many headsets are not wireless and require cables and accessories to plug into the PC for use, thus compelling a user to be stationary for a long time.

This leads to VR sickness and neck pain due to the lack of movement. Another limitation is the low resolution of VR-enabled devices. Low resolution causes difficulty in viewing and can also aggravate symptoms of virtual sickness such as irritation and nausea. Fixing the resolution can cause a greater burden on the processing unit and graphical processing unit, which, in turn, affects the performance. At present, the impact of this driver is medium and is expected to reduce over the next 3–4 years with the launch of AR devices, which will help in improving users’ mobility.

Opportunity: Penetration of HMDs in healthcare and architectural applications

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 easily perform surgeries and provide post-operative care through VR simulation. HMD can thus make the medical sector more proactive in treating patients, and an increase in accuracy is expected in the next 5–7 years. VR technologies have a major application in the architecture and design segment. Building Information Modeling (BIM) is used in the architecture and design sector to get a 3D view of building design and surrounding spaces.

This gives a clear view and reduces errors and costs during the construction phase using VR visualization models. The VR platform provides a riveting view of the building design and an interactive, navigable, and immersive experience so that the client and architect can understand the structure and make suitable modifications before the construction.

Challenge: Adverse impact of lockdowns due to COVID-19 on commercial trade

The effective way to fight the COVID-19 is by locking down the sensitive and outbreak-prone areas and practicing social distancing. The imposition of lockdowns and social distancing has severely affected the manufacturing sector as a large chunk of consumer spending is discretionary.

Hence, it is sensitive to being postponed or lost completely due to quarantines and social distancing. For some companies, the manufacturing operations are completely halted, which has disrupted their supply chains. For instance, key automobile companies such as Volkswagen, Ford, and General Motors have shut down all their production units worldwide. Ryanair, the largest and the low-cost airline in Europe, suspended all its flights until June, which has adversely affected the region’s economy.

For instance, Similarly, the Oculus division is developing a novel version of its Quest standalone VR-HMD, but the virtual reality headset is witnessing potential delays owing to the impact of global pandemic COVID-19 on product development and the global supply chain. The company had planned to launch the new Quest standalone VR-HMD at the end of 2020, at its annual Oculus Connect conference, but the outbreak of COVID-19 is anticipated to delay the shipment of virtual reality headsets until 2021. All these factors are expected to significantly impact the growth of the VR market for the next 4–6 months.

Virtual Reality Market

Virtual Reality Market Segment Insights:

Based on device type, the virtual reality market has been segmented into head-mounted displays, gesture-tracking devices, and projectors and display walls. The market for gesture-tracking devices is expected to witness the highest growth in the virtual reality market.

Gesture-tracking devices have been an integral part mainly because these are used for consumer applications. Gaming with the use of gesture-tracking devices provides enhanced experience of the virtual world to the users. The gesture-tracking devices can be used prominently for medical training and simulation, and also in therapy. Gesture-tracking devices are usually combined with head-mounted displays and other fully immersive devices for active interaction with the virtual environment.

Based on applications, healthcare segment accounted for highest CAGR

By applications, the virtual reality market has been segmented into aerospace & defense, healthcare, consumer, commercial, enterprise (manufacturing), and others (automotive, real estate, and geospatial mining). Virtual reality technology is mainly used in training and educating medical students and new practitioners.

It is also used for the treatment of phobia and for surgeries. Virtual reality technology allows surgeons to perform surgery in a risk-free environment. A virtual reality surgery provides safety as there is no risk to the patient, and surgeons can get feedback as soon as they are done with the surgery. This helps healthcare professionals gain experience and knowledge in their respective fields. Virtual robotic surgery is a new development in the area of virtual reality medicines.

Based on offering, hardware segment accounted for highest CAGR

By offering, the virtual reality market has been segmented into hardware and software. Due to the increasing demand for hardware devices, the VR market has witnessed high growth.

The VR content creation market is expected to witness a surge in its growth to bring in the inflow of the content to fulfill the requirements of different applications using virtual reality HMDs. This will be a massive boost to the high growth of the virtual reality market as a whole.

The increased need for content in the virtual reality market will also pave the path for many content creation start-ups. The use of virtual reality for commercial purposes to attract customers has been on the rise with business owners using virtual reality headsets to build their sales.

Virtual Reality Market Regional Insights:

The Asia Pacific region is projected to Grow at highest CAGR during the forecast period

APAC is expected to lead the VR market by 2025 due to the high demand for VR devices in the region and the emergence of local manufacturers in China providing VR devices at a low cost. The VR market in APAC is expected to grow at a high rate in sectors such as healthcare, commercial, and consumer.

The increasing number of players in the region would boost the growth of the VR market. The high growth in commercial and consumer markets is the major factor driving the growth of the VR market in APAC. Moreover, growing consumer and commercial markets with increasing investments in countries such as Japan, India, and China would boost the growth of the VR market in APAC. The use of VR has increased in commercial and consumer markets in APAC owing to the easy availability of VR technology in the region. The low-priced VR headsets are easily available in APAC countries, which would, in turn, help the market in APAC to grow at a high pace.

Virtual Reality Market  by Region

Virtual Reality Market by Region

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Asia Pacific has been the leading manufacturing region worldwide and is expected to witness the inflow of advanced technologies in the next 5–8 years. The rising investments in commercial and defense applications and its security applications would also boost the growth of the VR market in Asia Pacific. Also, the growing healthcare and automotive market in Japan would drive the growth of VR technology.

Key Market Players in Virtual Reality Industry

Some of the Major players in the virtual reality market are Sony (Japan), Oculus (US), HTC (Taiwan), Google (US), and Samsung Electronics (South Korea).

These players have adopted various growth strategies such as contracts, joint ventures, partnerships & agreements, acquisitions, and new product launches to further expand their presence in the virtual reality market.

Sony (Japan) has set the pricing of VR PlayStation headsets at USD 399, which is hundreds of dollars less than those of its counterparts. The company is banking on economies of scale to grow in the VR market with its low pricing strategy to compete with established headset makers in the VR market.

Oculus (US) develops and manufactures VR technology products such as Oculus Rift and Oculus Touch. These are mostly utilized in video games of various categories, including adventure, action, fighting, horror, and education. The company has its facilities in five locations spread across four states in the US and one in Seoul (South Korea). Oculus has made huge investments in R&D and has been an important player in the VR market as it has been backed by Facebook (US).

HTC (Taiwan) has been among the top companies with huge investments in the VR market. The company, in partnership with Valve (US), developed Vive, a head-mounted display, which would be useful for applications such as healthcare, retail, education, and automotive. HTC Corporation also dedicated about USD 100 million to start-ups that would join the Vive X accelerator program. The Vive X accelerator program would help build VR ecosystems by investing in promising VR companies.

Virtual Reality Market Report Scope

Report Metric

Details

Market Value in 2020 USD 6.1 billion
Market Value in 2025 USD 20.9 billion
Growth Rate CAGR of 27.9%

Market Size Available for Years

2016–2025

Base Year Considered

2019

Forecast Period

2020–2025

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.

Aspect

Details

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
  • 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

Virtual Reality Market Highlights:

Virtual Reality Market

What is new?

  • Major developments that can change the business landscape as well as market forecasts.

The virtual reality industry has witnessed numerous technological advancements over the years in terms of system and payload capabilities. Substantial investments have been made in the research & development and upgrades of virtual reality. R&D in the field of software technologies and data analytics have enhanced the design of virtual reality over the years. It has also led to changes in their size, endurance, power, and propulsion systems. The VR content creation market is expected to witness a surge in its growth to bring in the inflow of the content to fulfill the requirements of different applications using virtual reality HMDs. This will be a massive boost to the high growth of the virtual reality market as a whole. The increased need for content in the virtual reality market will also pave the path for many content creation start-ups. The use of virtual reality for commercial purposes to attract customers has been on the rise with business owners using virtual reality headsets to build their sales.

  • Addition/refinement in segmentation–Increase in depth or width of segmentation of the market.
  • Virtual Reality Market, By Technology
    • Nonimmersive
    • Semi and Fully Immersive
  • Virtual Reality Market, By Offering
    • Hardware
      • Sensors (Accelerometer, Gyroscope, Magnetometer, Proximity Sensor)
      • Semiconductor Components (Controller and Processor, Integrated Circuits)
      • Displays & Projectors
      • Position Trackers
      • Cameras
      • Others
    • Software
      • VR Content Creation
      • Software Developer Kits
      • Cloud-Based Services
  • Virtual Reality Market, By Device Type
    • Head-Mounted Displays
    • Gesture-Tracking Devices
      • Data Gloves
      • Others
    • Projectors & Display Walls
  • Virtual Reality Market, By Application
    • Consumer
      • Gaming & Entertainment (Sports)
    • Enterprise (Industrial)
    • Healthcare
      • Surgery
      • Fitness Management
      • Pharmacy Management
      • Medical Training
      • Patient Care Management
    • Commercial
      • Retail
      • Education & Training
      • Travel & Tourism
      • Advertising
    • Aerospace & Defense
    • Others
      • Automotive
      • Real Estate (Architecture and Building Design)
      • Geospatial Mining
  • Coverage of new market players and change in the market share of existing players of the virtual reality market.

Company profiles: Company profiles give a glimpse of the key players in the market with respect to their business overviews, financials, product offerings, recent developments undertaken by them, and MnM view. In the new edition of the report, we have total 25 players (15 major, 10 Startups/SME). Moreover, the share of companies operating in the virtual reality market and start-up matrix have also been provided in the report.

  • Updated financial information and product portfolios of players operating in the virtual reality market.

Newer and improved representation of financial information: The new edition of the report provides updated financial information in the context of the virtual reality market till 2021/2022 for each listed company in the graphical representation in a single diagram (instead of multiple tables). This would help to easily analyze the present status of profiled companies in terms of their financial strength, profitability, key revenue-generating region/country, business segment focus in terms of the highest revenue-generating segment and investment on research and development activities.

  • Updated market developments of the profiled players.

Recent Developments: Updated market developments such as contracts, joint ventures, partnerships & agreements, acquisitions, new service launches, new product launches, investments, funding, and certification have been mapped for the years 2019 to 2022.

  • Any new data points/analysis (frameworks) which was not present in the previous version of the report
  • Competitive benchmarking of startups /SME which covers details about employees, financial status, latest funding round and total funding.
  • Inclusion of impact of megatrends on the virtual reality market that includes a shift in global climate change, rapid urbanization, greater customization, and disruptive technologies
  • Technology analysis and case studies are added in this edition of the report to give the technological perspective and the significance of the advancements in virtual reality market
  • Inclusion of patent registrations to have an overview of R&D activities in the virtual reality market.
  • The startup evaluation matrix is added in this edition of the report, covering drone startups.

The new edition of the report consists of trends/disruptions on customer’s business, tariff & regulatory landscape, pricing analysis, and a market ecosystem map to enable a better understanding of the market dynamics for virtual reality.

Recent Developments in Virtual Reality Industry

  • In March 2022, HTC partnered with an in-car VR entertainment company, Holoride to expand its AR and VR hardware product portfolio, specifically –HTC Vive Flow glasses for car backseats of Audi sedans and SUVs to have their firsthand experience in car VR technologies.
  • In January 2022, Sony claimed to develop a PSVR headset for a better experience of virtual reality in PlayStation as the PSVR headset will connect directly to PlayStation 5 console.
  • October 2021, HTC announced the launch of another product in its AR and VR hardware product portfolio. It announced the launch of VR glasses which, unlike other VR glasses or headsets, are focused on physical and mental wellness rather than gaming. It is sleek, lightweight, and gives lighter and passive entertainment to the users as it is enabled with 3D virtual reality and 3D spatial audio as well.
  • September 2021, Oculus partnered with a video conferencing company – Zoom to work toward enabling virtual reality meetings in the near future and will provide a virtual workroom environment and whiteboards for more comfortable and interactive meeting sessions.
  • November 2020, Samsung partnered with IIT-Jodhpur to set up AR-VR innovation labs with topics of interests as telepresence, robotics, and brain-machine interfaces.

Frequently Asked Questions (FAQs):

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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.

Virtual Reality Market  Size, and Share

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

Virtual Reality Market  Size, and Share

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
Report Code
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