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Global Virtual Reality Headset Market to Reach 8.5 Million Units in 2018, Influenced by Rapid Technological Advancements

According to the latest report by IMARC Group, titled “Virtual Reality Headset Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the global virtual reality headset market size reached a volume of 8.5 Million Units in 2018. A virtual reality (VR) headset is a head-worn device that allows users to experience three-dimensional (3D) simulation while watching VR content. The main components of the headset include a stereoscopic head-mounted display, head motion tracking sensors and stereo sound module. The VR headset creates an artificial environment, making the virtual world appear as real to the users. This is accomplished by creating a seamless virtual environment and tracking the head movement of the user to give the impression of being inside the 3D setup. The headset is connected to a computer or console for sending the video feed or utilizes a mounted smartphone as both the screen and content source.

Global Virtual Reality Headset Market Trends:

The rising popularity of VR games and apps, as well as 360? videos, among consumers is one of the primary factors driving the global VR headset market. In line with the growing product demand, the leading companies are investing in improving the product features and introducing smartphone compatible and affordable variants. They are also incorporating additional features, such as NFC chips and Bluetooth connectivity, in assembled VR headset kits. Other than the gaming and entertainment industries, VR technology is being utilized in the healthcare, defense, retail and construction sectors. For instance, VR headsets are used in the healthcare industry for surgical learning, emergency room training, and studying patient-specific anatomy. They also serve distinctive military purposes, including flight and battlefield, and vehicle simulations. On account of these factors, the market value is projected to witness steady growth during the forecast period of 2019-2024.

Market Summary:

  • Based on the product, the market has been categorized into PC based, console based, smartphone based and standalone variants.
  • The market has been bifurcated on the basis of the material into plastic, paper and others.
  • On the basis of the end user, the market has been classified into consumer electronics, healthcare, games and entertainment, automobile, education, real estate and military.
  • Region-wise, the market has been segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
  • The competitive landscape of the market has been analyzed in the report, with the detailed profiles of the key players in the industry.

 

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