Report Overview

The global virtual reality market attained a value of nearly USD 53.53 Billion in 2024. The market is further expected to grow at a CAGR of 26.40% during the forecast period of 2025-2034 to reach a value of USD 557.27 Billion by 2034.

2023

Base Year

2018-2023

Historical Year

2024-2032

Forecast Year

Virtual Reality Market Size

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.

 

Virtual Reality Market Report Snapshots

Virtual Reality Market Size

Virtual Reality Companies

 

*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*

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Key Questions Answered in the Report

In 2024, the global virtual reality market attained a value of nearly USD 53.53 Billion.

The market is projected to grow at a CAGR of 26.40% between 2025 and 2034.

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.

The market is estimated to witness a healthy growth in the forecast period of 2025-2034 to reach USD 557.27 Billion by 2034.

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