The global virtual reality headset market exhibited strong growth during 2015-2020. Looking forward, IMARC Group expects the market to grow at a CAGR of 28% during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end-use industries. These insights are included in the report as a major market contributor.
A virtual reality headset is basically a head-mounted device that delivers virtual reality for the individual wearing the device. Virtual reality (VR) headsets are extensively used with video game but they are also widely used in many other applications, such as simulators and trainers. They consist of a stereoscopic head-mounted display (that provides separate images for each eye), stereo sound, and head motion tracking sensors. Gaming represents one of the biggest application sectors for VR headsets. Apart from gaming, these devices are also widely being employed in military, consumer electronics, automobiles, real estate, healthcare, etc.
The increasing penetration of smartphones represents a major factor driving the demand of virtual reality headsets as most VR headsets depend upon a smartphone to display content and utilize numerous specially developed applications for the same. Moreover, virtual reality games are gaining popularity amongst millennials in both the developed and developing economies which has led to an increase in the demand for virtual reality applications. Additionaly, virtual reality is also extensively being used by the defense sector across various applications such as flight and battlefield simulations, medical training, vehicle simulation, and virtual boot camps. Furthermore, rising utilization of digital entertainment and digital media is also projected to drive the demand for VR headsets. For instance, movie makers, professional sports leagues and associations, music industry, adult entertainment industry, etc. are also increasingly adopting virtual reality technology to drive their customer base. Apart from this, various manufacturers are incorporating additional features like buttons, NFC chips and Bluetooth connectivity in the assembled virtual reality headset kits. Furthermore, the production of virtual reality headsets is economical for both the manufacturers and consumers, as the parts used in the manufacturing of these devices are available at low cost and their production does not require heavy machinery.
IMARC Group provides an analysis of the key trends in each sub-segment of the global virtual reality headset market report, along with forecasts for growth at the global, regional and country level from 2021-2026. Our report has categorized the market based on region, product, material and end user
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The report has also analysed the competitive landscape of the market along with the profiles of the key players.
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