According to the latest report by IMARC Group, titled "Global Virtual Reality Headset Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026," the global virtual reality headset market size reached US$ 6.2 Billion in 2020. A virtual reality headset refers to a head-mounted device that is generally used while playing video games. It involves the use of advanced technologies in order to create simulated surroundings that offer an immersive 3D and first-person perspective (FTP) experience, along with a digitized landscape to the wearer. It is usually equipped with a stereoscopic head-mounted display, accelerators, gyroscopic sensors, and magnetometers or structured light systems that enable individuals to interact with the virtual space that is created in the software. Apart from this, it is also widely adopted in medical, defense and military applications and industrial prototype training.
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Global Virtual Reality Headset Market Trends:
The global market is primarily driven by continual technological advancements in gaming technology. This is supported by the widespread integration of machine learning and artificial intelligence (AI) technologies with VR headsets in order to offer realistic sounds, images, and sensations to the wearer, which is creating a positive outlook for the market. Also, the increasing deployment of advanced functions in the VR headsets that includes a field of view and frame rate, position and head tracking, and spatial audio and sound effects is also gaining prominence among the masses, especially young adults. Apart from this, the rising product adoption in the healthcare sector for teaching trauma medical professionals about medical procedures and delivering enhanced care to patients is propelling the market growth. Some of the other factors contributing to the market growth include rapid digitization and the increasing investments by leading players in extensive research and development (R&D) activities to improve the existing virtual reality (VR) headset technology. On account of the aforementioned factors, the market is anticipated to grow at a CAGR of 28% during 2021-2026.
- On the basis of the product, the market has been classified into personal computer-based, console-based, and smartphone-based, and standalone.
- Based on the material, the market has been segmented into plastics, paper, and others.
- On the basis of the end-user, the market has been segregated into consumer electronics, healthcare, games and entertainment, automobile, education, real estate and military.
- Based on the region, the market has been divided into North America, Europe, Asia Pacific, Middle East and Africa and Lattin America.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players.
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