Virtual Reality Market

Virtual Reality Companies - Meta (US) and Sony (Japan) are the Key Players

The global virtual reality market was valued at USD 15.9 billion in 2024 and is projected to reach USD 38.0 billion by 2029; it is expected to register a CAGR of 19.1% during the forecast period. The growing penetration of the Metaverse and Rapid adoption of digital technologies in healthcare and gaming & entertainment sectors are attributed to the ever-increasing demand for virtual reality system. 

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 (US), and DPVR (China), Quytech (India), FOVE, Inc (Japan), Innowise (Poland), Ultraleap (England), WorldViz, Inc. (US), Vection Technologies (Australia), MindMaze (Switzerland), Virtuix (US), Firsthand Technology (US), Merge Labs, Inc. (US), HQSoftware (Estonia), XRHealth IL Ltd. (US), Space VR  (US), CyberGlove Systems Inc. (US), Vighnesh Inc. (India),  are some of the key players in the Virtual reality market.

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Major Virtual Reality companies include:

  • Meta (US)
  • Sony (Japan)
  • Samsung Electronics Co., Ltd. (South Korea)
  • Microsoft (US)
  • Unity Technologies (US)

Meta formerly known as Facebook is a social metaverse company that builds technology to help people connect, find communities, and grow businesses. Meta Platforms owns and operates a variety of social media, social networking, and messaging services, including Facebook, Instagram, WhatsApp, and Messenger. The company also owns the virtual reality (VR) company Oculus VR. One of its most notable products is the Oculus series, which includes Oculus Rift, Oculus Quest, and Oculus Go. These VR headsets have garnered widespread acclaim for their immersive experiences, high-quality visuals, and broad content library. In education, Meta's initiatives have introduced interactive and engaging learning tools, enabling students to explore historical sites, conduct virtual experiments, and receive personalized tutoring.

The company operates through two segments, namely, Family of Apps (FoA) and Reality Labs (RL). The FoA segment includes Facebook, Instagram, Messenger, WhatsApp, and other services. The RL segment includes augmented and virtual reality-related consumer hardware, software, and content.


Sony includes a diverse portfolio, including businesses like Game and Network Services, Music, Image Sensing Solutions, Pictures, Electronic Products and Solutions, Financial Services, and a wide range of other businesses. The company is renowned for its PlayStation brand, which includes gaming consoles (PlayStation 5, PlayStation 4), game development studios, and an online gaming service called PlayStation Network (PSN).

The Game and Network Services majorly includes the PlayStation platform. PlayStation is not only confined to games but provides a wholesome music and movie entertainment experience. The Music business is associated with the production and publishing of music; the electronic products and solutions include TVs, cameras, smartphones, and audio equipment. Image sensing technologies create solutions to enhance image quality for various industries, and Financial Services are responsible for insurance and nursing care.

Sony offers AR smart-glasses and projectors, and VR PlayStations. The smart-glass incorporates a holographic waveguide technology that provides lenses offering AR with higher transparency and brightness. Sony also developed a stacked event-based vision sensor that detects luminance change in every pixel. It provides a pixel size of 4.86µm and HDR performance of 124dB with a resolution of 1280x720. A key product in the VR space for Sony is the PlayStation. It is the biggest community of interest for Sony. The recent launch of PS5 and upgrades in the VR space have enriched the gaming experience of users manifold. For high responsive applications like electronic viewfinders (EVF).

Samsung Electronics Co., Ltd. 

Samsung Electronics Co., Ltd.  is a leading manufacturer of smartphones and semiconductors, and also produces a wide range of other electronic products including TVs, home appliances, and memory chips. The company operates through four business segments: Device eXperience (DX), Device Solutions (DS), SDC, and Harman. Samsung Electronics Co., Ltd. has been a significant player in the virtual reality (VR) market. One of its most notable ventures in VR is the Samsung Gear VR, a virtual reality headset developed in collaboration with Oculus VR. The Gear VR was designed to work with Samsung Galaxy smartphones, providing users with an immersive VR experience using their mobile devices.

In the VR market, the company’s main products are headsets that are compatible with the majority of the company’s smartphones. along with the traditional headsets. The Gear VR gained popularity for its affordability and ease of use, leveraging Samsung's widespread presence in the smartphone market.


Microsoft is a global company that develops and markets software, services, and hardware devices. It is known for creating technology that enables people and businesses to realize their full potential by creating new opportunities, greater convenience, and enhanced value to people's lives.

Microsoft's VR business is primarily focused on its Windows Mixed Reality (WMR) platform, which offers a range of VR headsets, such as the HP Reverb G2, that provide industry-leading visual quality, spatial audio, motion tracking, and ergonomics These headsets are designed to work with compatible PC hardware and support hundreds of popular games and VR experiences from the SteamVR library and Microsoft Store. Developers can use official documentation to create WMR applications, while the SteamVR app porting guide assists in optimizing and testing experiences for WMR headsets.

Unity Technologies

Unity Technologies is a prominent player in the virtual reality (VR) space, offering developers a robust platform to create immersive VR experiences. Unity, a cross-platform game engine widely used for VR and augmented reality (AR) development, enables developers to build 3D environments and add interactive elements like audio, video, and animations. Unity's VR Project Template serves as a starting point for VR development, configuring project settings and pre-installing necessary packages for VR development. Additionally, Unity offers a range of features and packages like the XR Core Utilities, Unity Input System, and XR Hands package to enhance VR development.

Unity builds VR experiences that work on various VR headsets like Oculus Rift, HTC Vive, PlayStation VR, and more [Unity, Build VR experiences with Unity]. This saves developers time and resources by not needing to rebuild each platform.

Related Reports:

Virtual Reality Market 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

Mr. Aashish Mehra
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Virtual Reality Market Size,  Share & Growth Report
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SE 3528
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