Virtual Reality Market Key Players, Technological Development and Forecast Report till 2030

San Francisco, California , USA, Aug 01, 2022 — /EPR Network/ —

Virtual Reality Industry Overview

The global virtual reality market size is expected to reach USD 87.0 billion by 2030, according to the latest report by Grand View Research, Inc. The market is expected to expand at a CAGR of 15.0% from 2022 to 2030. The rapid penetration of Head-Mounted Display (HMD) in various industries, particularly in entertainment and gaming, has led to significant market growth. Additionally, the advent of 5G technology has positively impacted the adoption of virtual technology.

The emerging demand for virtual training across industries such as education, aerospace and defense, automotive, and healthcare is driving the market. For instance, in October 2021, Accenture ordered 60,000 Oculus headsets to simplify its onboarding process and train new employees. The company considers VR to be an engaging and productive technology that provides a time-efficient solution for training.

Virtual Reality Market Segmentation

Grand View Research has segmented the global virtual reality market on the basis of device, technology, component, application, and region:

Based on the Device Insights, the market is segmented into Head-mounted Display (HMD), Gesture-tracking Device (GTD) and Projectors & Display Wall (PDW).

• The head-mounted display (HMD) device segment accounted for the largest revenue share of over 60.0% in 2021 and is expected to dominate the market from 2022 to 2030.
• The gesture-tracking device (GTD) segment is projected to register the fastest CAGR of 17.4% over the forecast period.

Based on the Technology Insights, the market is segmented into Semi & Fully Immersive and Non-immersive.

• The semi and fully immersive segment accounted for the largest revenue share of over 80.0% in 2021. It is also estimated to register the highest CAGR over the forecast period.
• The non-immersive technology provides viewers with a computer-generated or digital environment rather than an immersive virtual world experience. This technology is thought to be more efficient in terms of network administration and is more widely available.

Based on the Component Insights, the market is segmented into Hardware and Software.

• The hardware segment accounted for the largest revenue share of over 65.0% in 2021 and is anticipated to dominate the market over the forecast period.
• The software segment is expected to register the highest CAGR of 17.0% over the forecast period. This can be attributed to the ability of the software to generate proper feedback, analyze incoming data, and manage input/output devices.

Based on the Application Insights, the market is segmented into Aerospace & Defense, Consumer, Commercial, Enterprise, Healthcare and Others.

• The commercial segment accounted for the largest revenue share of over 50.0% in 2021 and is anticipated to dominate the market over the forecast period.
• The healthcare segment is expected to register the highest CAGR of 19.3% over the forecast period, which can be attributed to the broad spectrum of prospects for VR in the healthcare sector, including disease awareness, medical marketing, and medical learning & training.

Virtual Reality Regional Outlook

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa (MEA)

Key Companies Profile

The continued trend of technology giants bringing commercial products into the market has prompted start-ups to collaborate in order to integrate and absorb VR technologies. Key companies are pursuing mergers and acquisitions as well as collaborations with technology start-ups to gain a competitive advantage in the market.

Some of the prominent market players in the global Virtual Reality market include:

• Barco
• CyberGlove Systems, Inc.
• Meta
• HTC Corporation
• Microsoft
• Samsung
• Sensics, Inc.
• Sixense Enterprises, Inc. (Penumbra, Inc.)
• Ultraleap Limited

Order a free sample PDF of the Virtual Reality Market Intelligence Study, published by Grand View Research.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

Contact:

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Grand View Research, Inc.

Phone: 1-415-349-0058

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Email: sales@grandviewresearch.com