Published Date: 7-Jan-2021
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According to a new report Global Virtual Reality Market, published by KBV research, The Global Virtual Reality Market size is expected to reach $31.2 billion by 2026, rising at a market growth of 20.3% CAGR during the forecast period.
The market growth is boosted by the increase in the adoption of virtual reality solutions in education and a rise in the number of smartphone mobile game users. However, low penetration of these technologies in underdeveloped countries and the absence of skilled personnel would restrict the growth of the market. In contrast, a massive inflow of investments in the market is likely to create growth opportunities for the global virtual reality market.
The Head-mounted Display (HMD) market dominated the Global Virtual Reality Market by Device 2019. Demand for HMDs combined with the reducing prices of the display will boost the growth of the segment in the next few years. Consumer-ready headsets to experience VR can accelerate the segment growth during the forecast years. Additionally, The Projectors & Display Wall (PDW) market would showcase highest CAGR of 22% during (2020 - 2026).
The consumer electronics segment held the highest revenue share of the market in 2019. There are various factors that contribute to the growth of the segment, such as the increased purchase of these products by the consumer, large scale availability of smartphones, and graphic cards that support. The Healthcare market is expected to witness a CAGR of 22.3% during (2020 - 2026).
The high revenue share of the North America market is due to the existence of leading virtual reality hardware and software developers like Facebook Inc., Microsoft Corporation, and Google LLC. Furthermore, the increasing demand for consumer electronics-based VR application in the region is anticipated to boost the virtual reality market in North America in the next few years. In 2019, Asia-Pacific was the second-biggest market, held a massive revenue share; it is expected to increase at a significant CAGR. The regional market growth is further boosted by the rising investments in technological advancements and the growing adoption of HMD for simulation and training purposes.
Structural Insights: https://www.kbvresearch.com/virtual-reality-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Google, Inc., Microsoft Corporation, Facebook, Inc., Sony Corporation, Samsung Electronics Co., Ltd. (Samsung Group), Autodesk, Inc., Dassault Systemes SE, Vuzix Corporation, Ultraleap Limited (Leap Motion, Inc.) and Eon Reality, Inc.
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