Global Virtual Reality (VR) Overview:
The latest report published by IMARC Group, titled ”Virtual Reality Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022- 2027″, offers a comprehensive analysis of the industry, which comprises insights on the global Virtual Reality Market Report. The report also includes competitor and regional analysis, and contemporary advancements in the global market.The global virtual reality market reached a value of US$ 8.2 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 36.8 Billion by 2027, exhibiting a CAGR of 27.94% during 2022-2027.
Virtual reality (VR), or virtual environment, refers to a three-dimensional environment that provides a digital experience in the real world. It makes use of hardware, software, and sensory inputs to stimulate the senses such as vision, hearing, touch, and smell. VR technology also offers an immersive experience to users with the help of headsets, glasses, gloves, and bodysuits. Consequently, VR is increasingly utilized in medical, industrial, retail, aerospace, defense, and commercial applications.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Global Virtual reality (VR) Market Trends:
The global market is majorly driven by the increasing need for businesses to continue their activities online. Furthermore, the growing utilization of VR in instructional training, such as for teaching engineers, mechanics, pilots, field workers, defense warriors, and technicians in the manufacturing and oil and gas sectors, is positively influencing the market. Besides this, the increasing importance of VR headsets in commercial and consumer applications is fueling their demand in the market. Additionally, numerous companies are increasingly focusing on technological developments to provide customers with an improved experience, thus creating a positive outlook for the market.
Global Virtual reality (VR) Market 2022- 2027 Analysis and Segmentation:
Competitive Landscape with Key Players:
- CyberGlove Systems Inc.
- Eon Reality Inc.
- Google LLC (Alphabet Inc.)
- HTC Corporation
- Microsoft Corporation
- Oculus VR LLC (Facebook Inc.)
- Samsung Electronics Co. Ltd.
- Sixense Enterprises Inc.
- Sony Corporation
- StarVR Corp (Acer Inc.)
- Ultraleap Ltd.
- Unity Software Inc.
By Device Type:
- Head-Mounted Display
- Gesture-Tracking Device
- Projectors and Display Wall
- Semi and Fully Immersive
Breakup by Component:
- Aerospace and Defense
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key Highlights of the Report:
- Market Performance (2016-2021)
- Market Outlook (2022- 2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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