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Global Virtual Reality Market: By Component: Hardware, Software, Content; By Technology: Non-immersive, Semi and Fully Immersive; By Device; By End Use: Education, Gaming, Others; Regional Analysis; Historical Market and Forecast (2018-2028); Market Dynamics; Competitive Landscape; Industry Events and Developments
Global Virtual Reality Market Outlook
The global virtual reality market reached a value of USD 18 billion in 2020 and is expected to grow at a CAGR of about 33% in the forecast period of 2023-2028.
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North America and Asia Pacific to Dominate the Global Virtual Reality Market
North America, Europe, and Asia Pacific are likely to dominate the global industry in the forecast period. United States is expected to be the dominate the North American market. This is because of the remarkable activity of major key players in the nation. The United States government has also been investing in virtual reality and has started to adopt this technology across fields like military.
Asia Pacific is also one of the leaders of virtual reality market. This is because of the technological developments in the developing economies. 5G connectivity is also increasingly being adopted in nations like Japan and China. Japanese government initiatives have also been favourable to virtual reality industry such as technological grants and funds to VR companies. Europe is also expected to witness significant growth in the coming years because of the technological advancements in the region. The United Kingdom government is also looking for virtual reality projects like virtual farmer market. Latin America and Africa will also register industry growth because of the increasing penetration of gaming and entertainment activities.
Virtual Reality: Market Segmentation
Virtual reality refers to an artificial 3-dimensional visual environment that is created through computer simulation. The user is also allowed to interact with the interface through sensory equipment like gloves, glasses, and headsets. This technology is used in gaming and entertainment industry for better customer experience. The virtual reality is also finding its use in diverse sectors such as medical, education, and corporate training.
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The components of virtual reality industry are classified as:
- Hardware
- Software
- Content
The hardware component is further segmented into sensors and semiconductor components, among others.
By technology, the virtual reality is categorised into:
- Non-immersive
- Semi and Fully Immersive
On the basis of device, the industry is segmented into the following:
- Gesture-Tracking Device (GTD)
- Projectors and Display Wall (PDW)
- Head Mounted Display (HMD)
- Others
Based on the end use, the virtual reality is classified into:
- Education
- Gaming
- Media and Entertainment
- Healthcare
- Military and Defence
- Real Estate
- Others
The regional markets for virtual reality can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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Virtual Reality Market to be Driven by the End Use Industries
The coronavirus pandemic had led to decline in physical interactions and rapid growth of digital and virtual reality industry. The different industries are looking for virtual reality platforms for their working interface. Education and academia have increasingly adopted the virtual reality because of the closing down of educational institutions. Corporate and other trainings are also performed through virtual reality which is providing impetus to industry growth. Gaming and entertainment industry have been recognised the virtual reality potential earlier as the consumers base is swiftly increasing. Healthcare industry and military sectors are also recognising the virtual reality and investing for this technology. The arrival of 5G with faster information transfer will also propel the virtual reality market in the coming years.
Key Industry Players in the Global Virtual Reality Market
The report gives a detailed analysis of the following key players in the virtual reality market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- Google LLC
- Sony Corporation
- HTC Corporation
- Samsung Electronics Co., Ltd
- Facebook Technologies, LLC
- Microsoft Corporation
- Vuzix Corporation
- EON Reality, Inc
- Others
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2022 |
| Historical Period | 2018-2022 |
| Forecast Period | 2023-2028 |
| Scope of the Report | Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Component, Technology, Device, End Use, Region |
| Breakup by Component | Hardware, Software, Content |
| Breakup by Technology | Non-immersive, Semi and Fully Immersive |
| Breakup by Device | Gesture-Tracking Device (GTD), Projectors and Display Wall (PDW), Head Mounted Display (HMD), Others |
| Breakup by End Use | Education, Gaming, Media and Entertainment, Healthcare, Military and Defence, Real Estate, Others |
| Breakup by Region | North America, Latin America, Europe, Middle East and Africa, Asia Pacific |
| Market Dynamics | SWOT, Porter's Five Forces, Key Indicators for Price and Demand |
| Competitive Landscape | Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications |
| Companies Covered | Google LLC, Sony Corporation, HTC Corporation, Samsung Electronics Co., Ltd, Facebook Technologies, LLC, Microsoft Corporation, Vuzix Corporation, EON Reality, Inc., Others |
| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Virtual Reality Market Analysis
8.1 Key Industry Highlights
8.2 Global Virtual Reality Historical Market (2018-2022)
8.3 Global Virtual Reality Market Forecast (2023-2028)
8.4 Global Virtual Reality Market by Component
8.4.1 Hardware
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2022)
8.4.1.3 Forecast Trend (2023-2028)
8.4.1.4 Breakup by Type
8.4.1.4.1 Sensors
8.4.1.4.1.1 Market Share
8.4.1.4.1.2 Historical Trend (2018-2022)
8.4.1.4.1.3 Forecast Trend (2023-2028)
8.4.1.4.2 Semiconductor Components
8.4.1.4.2.1 Market Share
8.4.1.4.2.2 Historical Trend (2018-2022)
8.4.1.4.2.3 Forecast Trend (2023-2028)
8.4.1.4.3 Others
8.4.2 Software
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2022)
8.4.2.3 Forecast Trend (2023-2028)
8.4.3 Content
8.4.3.1 Market Share
8.4.3.2 Historical Trend (2018-2022)
8.4.3.3 Forecast Trend (2023-2028)
8.5 Global Virtual Reality Market by Technology
8.5.1 Non-immersive
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2018-2022)
8.5.1.3 Forecast Trend (2023-2028)
8.5.2 Semi and Fully Immersive
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2022)
8.5.2.3 Forecast Trend (2023-2028)
8.6 Global Virtual Reality Market by Device
8.6.1 Gesture-Tracking Device (GTD)
8.6.1.1 Market Share
8.6.1.2 Historical Trend (2018-2022)
8.6.1.3 Forecast Trend (2023-2028)
8.6.2 Projectors and Display Wall (PDW)
8.6.2.1 Market Share
8.6.2.2 Historical Trend (2018-2022)
8.6.2.3 Forecast Trend (2023-2028)
8.6.3 Head Mounted Display (HMD)
8.6.3.1 Market Share
8.6.3.2 Historical Trend (2018-2022)
8.6.3.3 Forecast Trend (2023-2028)
8.6.4 Others
8.7 Global Virtual Reality Market by End Use
8.7.1 Education
8.7.1.1 Market Share
8.7.1.2 Historical Trend (2018-2022)
8.7.1.3 Forecast Trend (2023-2028)
8.7.2 Gaming
8.7.2.1 Market Share
8.7.2.2 Historical Trend (2018-2022)
8.7.2.3 Forecast Trend (2023-2028)
8.7.3 Media and Entertainment
8.7.3.1 Market Share
8.7.3.2 Historical Trend (2018-2022)
8.7.3.3 Forecast Trend (2023-2028)
8.7.4 Healthcare
8.7.4.1 Market Share
8.7.4.2 Historical Trend (2018-2022)
8.7.4.3 Forecast Trend (2023-2028)
8.7.5 Military and Defence
8.7.5.1 Market Share
8.7.5.2 Historical Trend (2018-2022)
8.7.5.3 Forecast Trend (2023-2028)
8.7.6 Real Estate
8.7.6.1 Market Share
8.7.6.2 Historical Trend (2018-2022)
8.7.6.3 Forecast Trend (2023-2028)
8.7.7 Others
8.8 Global Virtual Reality Market by Region
8.8.1 North America
8.8.1.1 Market Share
8.8.1.2 Historical Trend (2018-2022)
8.8.1.3 Forecast Trend (2023-2028)
8.8.2 Europe
8.8.2.1 Market Share
8.8.2.2 Historical Trend (2018-2022)
8.8.2.3 Forecast Trend (2023-2028)
8.8.3 Asia Pacific
8.8.3.1 Market Share
8.8.3.2 Historical Trend (2018-2022)
8.8.3.3 Forecast Trend (2023-2028)
8.8.4 Latin America
8.8.4.1 Market Share
8.8.4.2 Historical Trend (2018-2022)
8.8.4.3 Forecast Trend (2023-2028)
8.8.5 Middle East and Africa
8.8.5.1 Market Share
8.8.5.2 Historical Trend (2018-2022)
8.8.5.3 Forecast Trend (2023-2028)
9 North America Virtual Reality Market Analysis
9.1 United States of America
9.1.1 Market Share
9.1.2 Historical Trend (2018-2022)
9.1.3 Forecast Trend (2023-2028)
9.2 Canada
9.2.1 Market Share
9.2.2 Historical Trend (2018-2022)
9.2.3 Forecast Trend (2023-2028)
10 Europe Virtual Reality Market Analysis
10.1 United Kingdom
10.1.1 Market Share
10.1.2 Historical Trend (2018-2022)
10.1.3 Forecast Trend (2023-2028)
10.2 Germany
10.2.1 Market Share
10.2.2 Historical Trend (2018-2022)
10.2.3 Forecast Trend (2023-2028)
10.3 France
10.3.1 Market Share
10.3.2 Historical Trend (2018-2022)
10.3.3 Forecast Trend (2023-2028)
10.4 Italy
10.4.1 Market Share
10.4.2 Historical Trend (2018-2022)
10.4.3 Forecast Trend (2023-2028)
10.5 Others
11 Asia Pacific Virtual Reality Market Analysis
11.1 China
11.1.1 Market Share
11.1.2 Historical Trend (2018-2022)
11.1.3 Forecast Trend (2023-2028)
11.2 Japan
11.2.1 Market Share
11.2.2 Historical Trend (2018-2022)
11.2.3 Forecast Trend (2023-2028)
11.3 India
11.3.1 Market Share
11.3.2 Historical Trend (2018-2022)
11.3.3 Forecast Trend (2023-2028)
11.4 ASEAN
11.4.1 Market Share
11.4.2 Historical Trend (2018-2022)
11.4.3 Forecast Trend (2023-2028)
11.5 Australia
11.5.1 Market Share
11.5.2 Historical Trend (2018-2022)
11.5.3 Forecast Trend (2023-2028)
11.6 Others
12 Latin America Virtual Reality Market Analysis
12.1 Brazil
12.1.1 Market Share
12.1.2 Historical Trend (2018-2022)
12.1.3 Forecast Trend (2023-2028)
12.2 Argentina
12.2.1 Market Share
12.2.2 Historical Trend (2018-2022)
12.2.3 Forecast Trend (2023-2028)
12.3 Mexico
12.3.1 Market Share
12.3.2 Historical Trend (2018-2022)
12.3.3 Forecast Trend (2023-2028)
12.4 Others
13 Middle East and Africa Virtual Reality Market Analysis
13.1 Saudi Arabia
13.1.1 Market Share
13.1.2 Historical Trend (2018-2022)
13.1.3 Forecast Trend (2023-2028)
13.2 United Arab Emirates
13.2.1 Market Share
13.2.2 Historical Trend (2018-2022)
13.2.3 Forecast Trend (2023-2028)
13.3 Nigeria
13.3.1 Market Share
13.3.2 Historical Trend (2018-2022)
13.3.3 Forecast Trend (2023-2028)
13.4 South Africa
13.4.1 Market Share
13.4.2 Historical Trend (2018-2022)
13.4.3 Forecast Trend (2023-2028)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Google LLC
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Sony Corporation
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 HTC Corporation
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Samsung Electronics Co., Ltd
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Facebook Technologies, LLC
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Microsoft Corporation
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Vuzix Corporation
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 EON Reality, Inc.
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Virtual Reality Market: Key Industry Highlights, 2018 and 2028
2. Global Virtual Reality Historical Market: Breakup by Component (USD Billion), 2018-2022
3. Global Virtual Reality Market Forecast: Breakup by Component (USD Billion), 2023-2028
4. Global Virtual Reality Historical Market: Breakup by Technology (USD Billion), 2018-2022
5. Global Virtual Reality Market Forecast: Breakup by Technology (USD Billion), 2023-2028
6. Global Virtual Reality Historical Market: Breakup by Device (USD Billion), 2018-2022
7. Global Virtual Reality Market Forecast: Breakup by Device (USD Billion), 2023-2028
8. Global Virtual Reality Historical Market: Breakup by End Use (USD Billion), 2018-2022
9. Global Virtual Reality Market Forecast: Breakup by End Use (USD Billion), 2023-2028
10. Global Virtual Reality Historical Market: Breakup by Region (USD Billion), 2018-2022
11. Global Virtual Reality Market Forecast: Breakup by Region (USD Billion), 2023-2028
12. North America Virtual Reality Historical Market: Breakup by Country (USD Billion), 2018-2022
13. North America Virtual Reality Market Forecast: Breakup by Country (USD Billion), 2023-2028
14. Europe Virtual Reality Historical Market: Breakup by Country (USD Billion), 2018-2022
15. Europe Virtual Reality Market Forecast: Breakup by Country (USD Billion), 2023-2028
16. Asia Pacific Virtual Reality Historical Market: Breakup by Country (USD Billion), 2018-2022
17. Asia Pacific Virtual Reality Market Forecast: Breakup by Country (USD Billion), 2023-2028
18. Latin America Virtual Reality Historical Market: Breakup by Country (USD Billion), 2018-2022
19. Latin America Virtual Reality Market Forecast: Breakup by Country (USD Billion), 2023-2028
20. Middle East and Africa Virtual Reality Historical Market: Breakup by Country (USD Billion), 2018-2022
21. Middle East and Africa Virtual Reality Market Forecast: Breakup by Country (USD Billion), 2023-2028
22. Global Virtual Reality Market Structure
Key Questions Answered in the Report
In 2020, the global virtual reality market attained a value of nearly USD 18 billion.
The market is projected to grow at a CAGR of 33% between 2023 and 2028.
The major drivers of the market include the arrival of 5G network, increasing investment in virtual reality, technological developments, and government initiatives.
The rapid growth of digital and virtual reality industry due to coronavirus pandemic and increasing gaming and entertainment industry are the key industry trends propelling the growth of the market.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
Hardware, software, and content are the major components in the virtual reality market. The hardware component is further segmented into sensors and semiconductor components, among others.
By technology, the virtual reality is categorised into non-immersive, and semi and fully immersive.
On the basis of device, the industry is segmented into gesture-tracking device (GTD), projectors and display wall (PDW), and head mounted display (HMD), among others.
The end-uses include education, gaming, media and entertainment, healthcare, military and defence, and real estate, among others.
The major players in the industry are Google LLC, Sony Corporation, HTC Corporation, Samsung Electronics Co., Ltd., Facebook Technologies, LLC, Microsoft Corporation, Vuzix Corporation, and EON Reality Inc., among others.
Analyst Review
The global virtual reality market attained a value of USD 18 billion in 2020, driven by the spread of coronavirus pandemic. Aided by the increasing investment in virtual reality and technological developments, the market is expected to witness a further growth in the forecast period of 20227-2027, growing at a CAGR of 33%.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on component, the industry is classified as hardware, software, and content. The hardware component is further segmented into sensors and semiconductor components, among others. By technology, the market is categorised into non-immersive, and semi and fully immersive. On the basis of device, the industry is segmented into the following gesture-tracking device (GTD), projectors and display wall (PDW), and head mounted display (HMD), among others. Based on end-use, the market is classified into education, gaming, media and entertainment, healthcare, military and defence, and real estate, among others. The major regional markets for virtual reality are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include Google LLC, Sony Corporation, HTC Corporation, Samsung Electronics Co., Ltd., Facebook Technologies, LLC, Microsoft Corporation, Vuzix Corporation, and EON Reality Inc., among others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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