Market Overview:
The global virtual reality market exhibited strong growth during 2015-2020. Looking forward, IMARC Group expects the market to grow at a CAGR of around 31% 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.
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.
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:
Breakup by Application:
- Aerospace and Defense
- Consumer
- Commercial
- Enterprise
- Healthcare
- Others
Breakup by Region:
- North America
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- 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?
1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Virtual Reality Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Device Type
6.1 Head-Mounted Display
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Gesture-Tracking Device
6.2.1 Market Trends
6.2.2 Market Forecast
6.3 Projectors and Display Wall
6.3.1 Market Trends
6.3.2 Market Forecast
7 Market Breakup by Technology
7.1 Semi and Fully Immersive
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Non-Immersive
7.2.1 Market Trends
7.2.2 Market Forecast
8 Market Breakup by Component
8.1 Hardware
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Software
8.2.1 Market Trends
8.2.2 Market Forecast
9 Market Breakup by Application
9.1 Aerospace and Defense
9.1.1 Market Trends
9.1.2 Market Forecast
9.2 Consumer
9.2.1 Market Trends
9.2.2 Market Forecast
9.3 Commercial
9.3.1 Market Trends
9.3.2 Market Forecast
9.4 Enterprise
9.4.1 Market Trends
9.4.2 Market Forecast
9.5 Healthcare
9.5.1 Market Trends
9.5.2 Market Forecast
9.6 Others
9.6.1 Market Trends
9.6.2 Market Forecast
10 Market Breakup by Region
10.1 North America
10.1.1 United States
10.1.1.1 Market Trends
10.1.1.2 Market Forecast
10.1.2 Canada
10.1.2.1 Market Trends
10.1.2.2 Market Forecast
10.2 Asia-Pacific
10.2.1 China
10.2.1.1 Market Trends
10.2.1.2 Market Forecast
10.2.2 Japan
10.2.2.1 Market Trends
10.2.2.2 Market Forecast
10.2.3 India
10.2.3.1 Market Trends
10.2.3.2 Market Forecast
10.2.4 South Korea
10.2.4.1 Market Trends
10.2.4.2 Market Forecast
10.2.5 Australia
10.2.5.1 Market Trends
10.2.5.2 Market Forecast
10.2.6 Indonesia
10.2.6.1 Market Trends
10.2.6.2 Market Forecast
10.2.7 Others
10.2.7.1 Market Trends
10.2.7.2 Market Forecast
10.3 Europe
10.3.1 Germany
10.3.1.1 Market Trends
10.3.1.2 Market Forecast
10.3.2 France
10.3.2.1 Market Trends
10.3.2.2 Market Forecast
10.3.3 United Kingdom
10.3.3.1 Market Trends
10.3.3.2 Market Forecast
10.3.4 Italy
10.3.4.1 Market Trends
10.3.4.2 Market Forecast
10.3.5 Spain
10.3.5.1 Market Trends
10.3.5.2 Market Forecast
10.3.6 Russia
10.3.6.1 Market Trends
10.3.6.2 Market Forecast
10.3.7 Others
10.3.7.1 Market Trends
10.3.7.2 Market Forecast
10.4 Latin America
10.4.1 Brazil
10.4.1.1 Market Trends
10.4.1.2 Market Forecast
10.4.2 Mexico
10.4.2.1 Market Trends
10.4.2.2 Market Forecast
10.4.3 Others
10.4.3.1 Market Trends
10.4.3.2 Market Forecast
10.5 Middle East and Africa
10.5.1 Market Trends
10.5.2 Market Breakup by Country
10.5.3 Market Forecast
11 SWOT Analysis
11.1 Overview
11.2 Strengths
11.3 Weaknesses
11.4 Opportunities
11.5 Threats
12 Value Chain Analysis
13 Porters Five Forces Analysis
13.1 Overview
13.2 Bargaining Power of Buyers
13.3 Bargaining Power of Suppliers
13.4 Degree of Competition
13.5 Threat of New Entrants
13.6 Threat of Substitutes
14 Price Analysis
15 Competitive Landscape
15.1 Market Structure
15.2 Key Players
15.3 Profiles of Key Players
15.3.1 CyberGlove Systems Inc.
15.3.1.1 Company Overview
15.3.1.2 Product Portfolio
15.3.2 Eon Reality Inc.
15.3.2.1 Company Overview
15.3.2.2 Product Portfolio
15.3.3 Google LLC (Alphabet Inc.)
15.3.3.1 Company Overview
15.3.3.2 Product Portfolio
15.3.3.3 SWOT Analysis
15.3.4 HTC Corporation
15.3.4.1 Company Overview
15.3.4.2 Product Portfolio
15.3.4.3 Financials
15.3.5 Microsoft Corporation
15.3.5.1 Company Overview
15.3.5.2 Product Portfolio
15.3.5.3 Financials
15.3.5.4 SWOT Analysis
15.3.6 Oculus VR LLC (Facebook Inc.)
15.3.6.1 Company Overview
15.3.6.2 Product Portfolio
15.3.7 Samsung Electronics Co. Ltd.
15.3.7.1 Company Overview
15.3.7.2 Product Portfolio
15.3.7.3 Financials
15.3.7.4 SWOT Analysis
15.3.8 Sixense Enterprises Inc.
15.3.8.1 Company Overview
15.3.8.2 Product Portfolio
15.3.9 Sony Corporation
15.3.9.1 Company Overview
15.3.9.2 Product Portfolio
15.3.9.3 Financials
15.3.9.4 SWOT Analysis
15.3.10 StarVR Corp (Acer Inc.)
15.3.10.1 Company Overview
15.3.10.2 Product Portfolio
15.3.10.3 Financials
15.3.11 Ultraleap Ltd.
15.3.11.1 Company Overview
15.3.11.2 Product Portfolio
15.3.12 Unity Software Inc.
15.3.12.1 Company Overview
15.3.12.2 Product Portfolio
List of Figures
Figure 1: Global: Virtual Reality Market: Major Drivers and Challenges
Figure 2: Global: Virtual Reality Market: Sales Value (in Billion US$), 2015-2020
Figure 3: Global: Virtual Reality Market Forecast: Sales Value (in Billion US$), 2021-2026
Figure 4: Global: Virtual Reality Market: Breakup by Device Type (in %), 2020
Figure 5: Global: Virtual Reality Market: Breakup by Technology (in %), 2020
Figure 6: Global: Virtual Reality Market: Breakup by Component (in %), 2020
Figure 7: Global: Virtual Reality Market: Breakup by Application (in %), 2020
Figure 8: Global: Virtual Reality Market: Breakup by Region (in %), 2020
Figure 9: Global: Virtual Reality (Head-Mounted Display) Market: Sales Value (in Million US$), 2015 & 2020
Figure 10: Global: Virtual Reality (Head-Mounted Display) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 11: Global: Virtual Reality (Gesture-Tracking Device) Market: Sales Value (in Million US$), 2015 & 2020
Figure 12: Global: Virtual Reality (Gesture-Tracking Device) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 13: Global: Virtual Reality (Projectors and Display Wall) Market: Sales Value (in Million US$), 2015 & 2020
Figure 14: Global: Virtual Reality (Projectors and Display Wall) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 15: Global: Virtual Reality (Semi and Fully Immersive) Market: Sales Value (in Million US$), 2015 & 2020
Figure 16: Global: Virtual Reality (Semi and Fully Immersive) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 17: Global: Virtual Reality (Non-Immersive) Market: Sales Value (in Million US$), 2015 & 2020
Figure 18: Global: Virtual Reality (Non-Immersive) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 19: Global: Virtual Reality (Hardware) Market: Sales Value (in Million US$), 2015 & 2020
Figure 20: Global: Virtual Reality (Hardware) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 21: Global: Virtual Reality (Software) Market: Sales Value (in Million US$), 2015 & 2020
Figure 22: Global: Virtual Reality (Software) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 23: Global: Virtual Reality (Aerospace and Defense) Market: Sales Value (in Million US$), 2015 & 2020
Figure 24: Global: Virtual Reality (Aerospace and Defense) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 25: Global: Virtual Reality (Consumer) Market: Sales Value (in Million US$), 2015 & 2020
Figure 26: Global: Virtual Reality (Consumer) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 27: Global: Virtual Reality (Commercial) Market: Sales Value (in Million US$), 2015 & 2020
Figure 28: Global: Virtual Reality (Commercial) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 29: Global: Virtual Reality (Enterprise) Market: Sales Value (in Million US$), 2015 & 2020
Figure 30: Global: Virtual Reality (Enterprise) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 31: Global: Virtual Reality (Healthcare) Market: Sales Value (in Million US$), 2015 & 2020
Figure 32: Global: Virtual Reality (Healthcare) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 33: Global: Virtual Reality (Other Applications) Market: Sales Value (in Million US$), 2015 & 2020
Figure 34: Global: Virtual Reality (Other Applications) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 35: North America: Virtual Reality Market: Sales Value (in Million US$), 2015 & 2020
Figure 36: North America: Virtual Reality Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 37: United States: Virtual Reality Market: Sales Value (in Million US$), 2015 & 2020
Figure 38: United States: Virtual Reality Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 39: Canada: Virtual Reality Market: Sales Value (in Million US$), 2015 & 2020
Figure 40: Canada: Virtual Reality Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 41: Asia-Pacific: Virtual Reality Market: Sales Value (in Million US$), 2015 & 2020
Figure 42: Asia-Pacific: Virtual Reality Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 43: China: Virtual Reality Market: Sales Value (in Million US$), 2015 & 2020
Figure 44: China: Virtual Reality Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 45: Japan: Virtual Reality Market: Sales Value (in Million US$), 2015 & 2020
Figure 46: Japan: Virtual Reality Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 47: India: Virtual Reality Market: Sales Value (in Million US$), 2015 & 2020
Figure 48: India: Virtual Reality Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 49: South Korea: Virtual Reality Market: Sales Value (in Million US$), 2015 & 2020
Figure 50: South Korea: Virtual Reality Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 51: Australia: Virtual Reality Market: Sales Value (in Million US$), 2015 & 2020
Figure 52: Australia: Virtual Reality Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 53: Indonesia: Virtual Reality Market: Sales Value (in Million US$), 2015 & 2020
Figure 54: Indonesia: Virtual Reality Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 55: Others: Virtual Reality Market: Sales Value (in Million US$), 2015 & 2020
Figure 56: Others: Virtual Reality Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 57: Europe: Virtual Reality Market: Sales Value (in Million US$), 2015 & 2020
Figure 58: Europe: Virtual Reality Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 59: Germany: Virtual Reality Market: Sales Value (in Million US$), 2015 & 2020
Figure 60: Germany: Virtual Reality Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 61: France: Virtual Reality Market: Sales Value (in Million US$), 2015 & 2020
Figure 62: France: Virtual Reality Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 63: United Kingdom: Virtual Reality Market: Sales Value (in Million US$), 2015 & 2020
Figure 64: United Kingdom: Virtual Reality Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 65: Italy: Virtual Reality Market: Sales Value (in Million US$), 2015 & 2020
Figure 66: Italy: Virtual Reality Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 67: Spain: Virtual Reality Market: Sales Value (in Million US$), 2015 & 2020
Figure 68: Spain: Virtual Reality Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 69: Russia: Virtual Reality Market: Sales Value (in Million US$), 2015 & 2020
Figure 70: Russia: Virtual Reality Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 71: Others: Virtual Reality Market: Sales Value (in Million US$), 2015 & 2020
Figure 72: Others: Virtual Reality Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 73: Latin America: Virtual Reality Market: Sales Value (in Million US$), 2015 & 2020
Figure 74: Latin America: Virtual Reality Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 75: Brazil: Virtual Reality Market: Sales Value (in Million US$), 2015 & 2020
Figure 76: Brazil: Virtual Reality Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 77: Mexico: Virtual Reality Market: Sales Value (in Million US$), 2015 & 2020
Figure 78: Mexico: Virtual Reality Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 79: Others: Virtual Reality Market: Sales Value (in Million US$), 2015 & 2020
Figure 80: Others: Virtual Reality Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 81: Middle East and Africa: Virtual Reality Market: Sales Value (in Million US$), 2015 & 2020
Figure 82: Middle East and Africa: Virtual Reality Market: Breakup by Country (in %), 2020
Figure 83: Middle East and Africa: Virtual Reality Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 84: Global: Virtual Reality Industry: SWOT Analysis
Figure 85: Global: Virtual Reality Industry: Value Chain Analysis
Figure 86: Global: Virtual Reality Industry: Porter's Five Forces Analysis
List of Tables
Table 1: Global: Virtual Reality Market: Key Industry Highlights, 2020 and 2026
Table 2: Global: Virtual Reality Market Forecast: Breakup by Device Type (in Million US$), 2021-2026
Table 3: Global: Virtual Reality Market Forecast: Breakup by Technology (in Million US$), 2021-2026
Table 4: Global: Virtual Reality Market Forecast: Breakup by Component (in Million US$), 2021-2026
Table 5: Global: Virtual Reality Market Forecast: Breakup by Application (in Million US$), 2021-2026
Table 6: Global: Virtual Reality Market Forecast: Breakup by Region (in Million US$), 2021-2026
Table 7: Global: Virtual Reality Market: Competitive Structure
Table 8: Global: Virtual Reality Market: Key Players