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Global Virtual Reality Market to Grow at a CAGR of 33% During 2021-2026, Aided by the Rising Adoption of 5G Connectivity

Virtual Reality Market

Global Virtual Reality Market Size, Share, Growth, Analysis, Forecast: By Component: Hardware, Software, Content; By Technology: Non-immersive, Semi and Fully Immersive; By Device; By End Use: Education, Gaming, Others; Regional Analysis; Market Dynamics; Competitive Landscape; 2024-2032

Global Virtual Reality Market Outlook

The global virtual reality market reached a value of USD 42.35 billion in 2023 and is expected to grow at a CAGR of about 33% in the forecast period of 2024-2032.

 

Global Virtual Reality Market

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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.

 

Global Virtual Reality Market By Device

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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.

 

Global Virtual Reality Market By Region

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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 2023
Historical Period 2018-2023
Forecast Period 2024-2032
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 (2018-2023) 
    8.3    Global Virtual Reality Market Forecast (2024-2032)
    8.4    Global Virtual Reality Market by Component
        8.4.1    Hardware
            8.4.1.1    Historical Trend (2018-2023)
            8.4.1.2    Forecast Trend (2024-2032)
            8.4.1.3    Breakup by Type
                8.4.1.3.1    Sensors
                    8.4.1.3.1.1    Historical Trend (2018-2023)
                    8.4.1.3.1.2    Forecast Trend (2024-2032)
                8.4.1.3.2    Semiconductor Components
                    8.4.1.3.2.1    Historical Trend (2018-2023)
                    8.4.1.3.2.2    Forecast Trend (2024-2032)
                8.4.1.3.3    Others
        8.4.2    Software
            8.4.2.1    Historical Trend (2018-2023)
            8.4.2.2    Forecast Trend (2024-2032)
        8.4.3    Content
            8.4.3.1    Historical Trend (2018-2023)
            8.4.3.2    Forecast Trend (2024-2032)
    8.5    Global Virtual Reality Market by Technology
        8.5.1    Non-immersive
            8.5.1.1    Historical Trend (2018-2023)
            8.5.1.2    Forecast Trend (2024-2032)
        8.5.2    Semi and Fully Immersive
            8.5.2.1    Historical Trend (2018-2023)
            8.5.2.2    Forecast Trend (2024-2032)
    8.6    Global Virtual Reality Market by Device
        8.6.1    Gesture-Tracking Device (GTD)
            8.6.1.1    Historical Trend (2018-2023)
            8.6.1.2    Forecast Trend (2024-2032)
        8.6.2    Projectors and Display Wall (PDW)
            8.6.2.1    Historical Trend (2018-2023)
            8.6.2.2    Forecast Trend (2024-2032)
        8.6.3    Head Mounted Display (HMD)
            8.6.3.1    Historical Trend (2018-2023)
            8.6.3.2    Forecast Trend (2024-2032)
        8.6.4    Others
    8.7    Global Virtual Reality Market by End Use
        8.7.1    Education 
            8.7.1.1    Historical Trend (2018-2023)
            8.7.1.2    Forecast Trend (2024-2032)
        8.7.2    Gaming
            8.7.2.1    Historical Trend (2018-2023)
            8.7.2.2    Forecast Trend (2024-2032)
        8.7.3    Media and Entertainment
            8.7.3.1    Historical Trend (2018-2023)
            8.7.3.2    Forecast Trend (2024-2032)
        8.7.4    Healthcare
            8.7.4.1    Historical Trend (2018-2023)
            8.7.4.2    Forecast Trend (2024-2032)
        8.7.5    Military and Defence
            8.7.5.1    Historical Trend (2018-2023)
            8.7.5.2    Forecast Trend (2024-2032)
        8.7.6    Real Estate
            8.7.6.1    Historical Trend (2018-2023)
            8.7.6.2    Forecast Trend (2024-2032)
        8.7.7    Others
    8.8    Global Virtual Reality Market by Region       
        8.8.1    North America
            8.8.1.1    Historical Trend (2018-2023) 
            8.8.1.2    Forecast Trend (2024-2032)
        8.8.2    Europe
            8.8.2.1    Historical Trend (2018-2023) 
            8.8.2.2    Forecast Trend (2024-2032)
        8.8.3    Asia Pacific
            8.8.3.1    Historical Trend (2018-2023) 
            8.8.3.2    Forecast Trend (2024-2032)
        8.8.4    Latin America
            8.8.4.1    Historical Trend (2018-2023) 
            8.8.4.2    Forecast Trend (2024-2032)
        8.8.5    Middle East and Africa
            8.8.5.1    Historical Trend (2018-2023) 
            8.8.5.2    Forecast Trend (2024-2032)
9    North America Virtual Reality  Market Analysis
    9.1    United States of America 
        9.1.1    Historical Trend (2018-2023) 
        9.1.2    Forecast Trend (2024-2032)
    9.2    Canada
        9.2.1    Historical Trend (2018-2023) 
        9.2.2    Forecast Trend (2024-2032)
10    Europe Virtual Reality Market Analysis
    10.1    United Kingdom
        10.1.1    Historical Trend (2018-2023) 
        10.1.2    Forecast Trend (2024-2032)
    10.2    Germany
        10.2.1    Historical Trend (2018-2023) 
        10.2.2    Forecast Trend (2024-2032)
    10.3    France
        10.3.1    Historical Trend (2018-2023) 
        10.3.2    Forecast Trend (2024-2032)
    10.4    Italy
        10.4.1    Historical Trend (2018-2023) 
        10.4.2    Forecast Trend (2024-2032)
    10.5    Others
11    Asia Pacific Virtual Reality Market Analysis
    11.1    China
        11.1.1    Historical Trend (2018-2023) 
        11.1.2    Forecast Trend (2024-2032)
    11.2    Japan
        11.2.1    Historical Trend (2018-2023) 
        11.2.2    Forecast Trend (2024-2032)
    11.3    India
        11.3.1    Historical Trend (2018-2023) 
        11.3.2    Forecast Trend (2024-2032)
    11.4    ASEAN
        11.4.1    Historical Trend (2018-2023) 
        11.4.2    Forecast Trend (2024-2032)
    11.5    Australia
        11.5.1    Historical Trend (2018-2023) 
        11.5.2    Forecast Trend (2024-2032)
    11.6    Others
12    Latin America Virtual Reality Market Analysis
    12.1    Brazil
        12.1.1    Historical Trend (2018-2023) 
        12.1.2    Forecast Trend (2024-2032)
    12.2    Argentina
        12.2.1    Historical Trend (2018-2023) 
        12.2.2    Forecast Trend (2024-2032)
    12.3    Mexico
        12.3.1    Historical Trend (2018-2023) 
        12.3.2    Forecast Trend (2024-2032)
    12.4    Others
13    Middle East and Africa Virtual Reality Market Analysis
    13.1    Saudi Arabia
        13.1.1    Historical Trend (2018-2023) 
        13.1.2    Forecast Trend (2024-2032)
    13.2    United Arab Emirates
        13.2.1    Historical Trend (2018-2023) 
        13.2.2    Forecast Trend (2024-2032)
    13.3    Nigeria
        13.3.1    Historical Trend (2018-2023) 
        13.3.2    Forecast Trend (2024-2032)
    13.4    South Africa
        13.4.1    Historical Trend (2018-2023) 
        13.4.2    Forecast Trend (2024-2032)
    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 2032
2.    Global Virtual Reality Historical Market: Breakup by Component (USD Billion), 2018-2023
3.    Global Virtual Reality Market Forecast: Breakup by Component (USD Billion), 2024-2032
4.    Global Virtual Reality Historical Market: Breakup by Technology (USD Billion), 2018-2023
5.    Global Virtual Reality Market Forecast: Breakup by Technology (USD Billion), 2024-2032
6.    Global Virtual Reality Historical Market: Breakup by Device (USD Billion), 2018-2023
7.    Global Virtual Reality Market Forecast: Breakup by Device (USD Billion), 2024-2032
8.    Global Virtual Reality Historical Market: Breakup by End Use (USD Billion), 2018-2023
9.    Global Virtual Reality Market Forecast: Breakup by End Use (USD Billion), 2024-2032
10.    Global Virtual Reality Historical Market: Breakup by Region (USD Billion), 2018-2023
11.    Global Virtual Reality Market Forecast: Breakup by Region (USD Billion), 2024-2032
12.    North America Virtual Reality Historical Market: Breakup by Country (USD Billion), 2018-2023
13.    North America Virtual Reality Market Forecast: Breakup by Country (USD Billion), 2024-2032
14.    Europe Virtual Reality Historical Market: Breakup by Country (USD Billion), 2018-2023
15.    Europe Virtual Reality Market Forecast: Breakup by Country (USD Billion), 2024-2032
16.    Asia Pacific Virtual Reality Historical Market: Breakup by Country (USD Billion), 2018-2023
17.    Asia Pacific Virtual Reality Market Forecast: Breakup by Country (USD Billion), 2024-2032
18.    Latin America Virtual Reality Historical Market: Breakup by Country (USD Billion), 2018-2023
19.    Latin America Virtual Reality Market Forecast: Breakup by Country (USD Billion), 2024-2032
20.    Middle East and Africa Virtual Reality Historical Market: Breakup by Country (USD Billion), 2018-2023
21.    Middle East and Africa Virtual Reality Market Forecast: Breakup by Country (USD Billion), 2024-2032
22.    Global Virtual Reality Market Structure

Key Questions Answered in the Report

What was the global virtual reality market size in 2023?

In 2023, the global virtual reality market attained a value of nearly USD 1842.35 billion.

What is the growth rate of the market?

The market is projected to grow at a CAGR of 33% between 2024 and 2032.

What are the major industry drivers?

The major drivers of the market include the  arrival of 5G network, increasing investment in virtual reality, technological developments, and government initiatives.

What are the key industry trends of the global virtual reality market?

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.

What are the major regional markets of virtual reality, according to the EMR report?

The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

What are the major components in the virtual reality market?

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.

What are the various technologies involved in the market?

By technology, the virtual reality is categorised into non-immersive, and semi and fully immersive.

What are the various devices explored in the market?

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.

What is the end-use of the market?

The end-uses include education, gaming, media and entertainment, healthcare, military and defence, and real estate, among others.

Who are the key industry players, according to the report?

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 42.35 billion in 2023, 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 2024-2032, 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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