Virtual Reality Market Share, Size, Growth, Opportunity and Forecast 2021-2026

*As the coronavirus disease (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.

Virtual Reality Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026

Market Overview:

The global virtual reality market exhibited strong growth during 2015-2020. Virtual reality (VR) refers to a computer-generated simulation to facilitate interaction between an artificial 3-dimensional (3D) environment. It involves the use of specialized head-mounted goggles with display screens, bodysuits and gloves equipped with sensors to provide a realistic experience to the user. VR combines hardware, software and sensory inputs to achieve a sense of presence through non-, semi- and fully-immersive films and 360-degree videos. Virtual reality technology is widely used for instructive training of engineers, pilots, armed forces, field workers and technicians across industries, such as gaming, entertainment, retail, travel, healthcare and aerospace.

The advent of Industry 5.0 across the globe is one of the key factors driving the growth of the market. Furthermore, the widespread adoption of VR in the gaming and entertainment industries is providing a thrust to the market growth. Sports-based game developers are launching sensor-enabled tennis racquets for playing a computer-controlled game simulation in an enclosed space. In line with this, the utilization of VR technology by driving schools for simulation and training is also contributing to the market growth. VR provides a first-hand experience of road and in-traffic driving scenarios to the learners and familiarizes them with the steering wheel, brake and accelerator of the vehicle. Additionally, various technological advancements, such as the launch of innovative HMDs and goggles with 360-degree viewing capabilities, are acting as other growth-inducing factors. Product manufacturers are also improving audio and visual input and output capabilities, thereby positively impacting the demand for VR. Other factors, including rising expenditure capacities of the consumers, along with extensive research and development (R&D) activities, are anticipated to drive the market toward growth. Looking forward, IMARC Group expects the global virtual reality market to grow at a CAGR of around 22% during the forecast period (2021-2026).

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global virtual reality 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, device type, technology, component and application.

Breakup by Device Type:

Head-Mounted Display
Gesture-Tracking Device
Projectors and Display Wall

Breakup by Technology:

Semi and Fully Immersive
Non-Immersive

Breakup by Component:

Hardware
Software

Breakup by Application:

Aerospace and Defense
Consumer
Commercial
Enterprise
Healthcare
Others

Breakup by Region:

North America
- United States
- Canada
Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
Latin America
- Brazil
- Mexico
- Others
Middle East and Africa

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being 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. and Unity Software Inc.

Key Questions Answered in This Report:

How has the global virtual reality market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global virtual reality market?
What are the key regional markets?
What is the breakup of the market based on the device type?
What is the breakup of the market based on the technology?
What is the breakup of the market based on the component?
What is the breakup of the market based on the application?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global virtual reality market and who are the key players?
What is the degree of competition in the industry?