NEW YORK, July 18, 2022 /PRNewswire/ — Virtual reality has various applications in industries such as retail, healthcare, automotive, gaming, and entertainment. This technology allows organizations to conduct virtual training, assistance, marketing, engineering and maintenance, designing, and simulation activities with their employees and workers.

The virtual reality market size is expected to grow by USD 75.57 billion from 2020 to 2025. The growth of the market will be driven by factors such as the penetration of HMDs in the gaming and entertainment sector.

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  • At what rate is the market projected to grow?The growth momentum of the market will accelerate at a CAGR of 55.34% during the forecast period.
  • What are the key market challenges?The requirement for high speed and computation power is challenging the growth of the market.
  • What was the year-over-year growth rate of the market in 2021?The year-over-year growth rate of the market in 2021 was 33.76%.
  • Is the virtual reality market concentrated or fragmented?The virtual reality market is fragmented.

The virtual reality market report covers the following areas:

  • Virtual Reality Market Size
  • Virtual Reality Market Trends
  • Virtual Reality Market Industry Analysis

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Alphabet Inc., Facebook Inc., Firsthand Technology Inc., HTC Corp., Magic Leap Inc., Microsoft Corp., NVIDIA Corp., Unity Technologies Inc., Wevr, and WorldViz Inc. are some of the major market participants. The key offerings of a few of these vendors are listed below:

  • Alphabet Inc. – The company offers products such as Earth VR and Cardboard VR.

  • Firsthand Technology Inc. – The company offers VR for health and wellness, such as Cool and Glow.

  • HTC Corp. – The company offers products such as Vive Pro series, Vive Focus Series, and Vive COSMOS Series.

  • Magic Leap Inc. – The company offers products such as Magic Leap 1, a wearable device.

  • Microsoft Corp. – The company offers social VR under the brand AltspaceVR.

  • End-User

  • Enterprise: The enterprise segment will contribute the highest market share growth during the forecast period.

  • Consumer

  • Geographic

  • APAC: This region will account for the highest market share. This growth will be driven by factors such as the rising demand for virtual training across industries.

  • North America

  • Europe

  • MEA

  • South America

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  • Enterprise: The enterprise segment will contribute the highest market share growth during the forecast period.

  • Consumer

  • APAC: This region will account for the highest market share. This growth will be driven by factors such as the rising demand for virtual training across industries.

  • North America

  • Europe

  • MEA

  • South America

  • CAGR of the market during the forecast period 2021-2025

  • Detailed information on factors that will assist virtual reality market growth during the next five years

  • Estimation of the virtual reality market size and its contribution to the parent market

  • Predictions on upcoming trends and changes in consumer behavior

  • The growth of the virtual reality market across North America, APAC, Europe, MEA, and South America

  • Analysis of the market’s competitive landscape and detailed information on vendors

  • Comprehensive details of factors that will challenge the growth of virtual reality market vendors

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Executive Summary

Virtual Reality Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 55.34%

Market growth 2021-2025

USD 75.57 billion

Market structure

Fragmented

YoY growth (%)

33.76

Regional analysis

North America, APAC, Europe, MEA, and South America

Performing market contribution

APAC at 33%

Key consumer countries

US, China, Japan, Germany, and UK

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

Alphabet Inc., Facebook Inc., Firsthand Technology Inc., HTC Corp., Magic Leap Inc., Microsoft Corp., NVIDIA Corp., Unity Technologies Inc., Wevr, and WorldViz Inc.

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period,

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Market Landscape

  • Market ecosystem
  • Value chain analysis

Market Sizing

  • Market definition
  • Market segment analysis
  • Market size 2020
  • Market outlook: Forecast for 2020 – 2025

Five Forces Analysis

  • Bargaining power of buyers
  • Bargaining power of suppliers
  • Threat of new entrants
  • Threat of substitutes
  • Threat of rivalry
  • Market condition

Market Segmentation by End-user

  • Market segments
  • Comparison by End-user
  • Enterprise – Market size and forecast 2020-2025
  • Consumer – Market size and forecast 2020-2025
  • Market opportunity by End-user

Customer landscape

Geographic Landscape

  • Geographic segmentation
  • Geographic comparison
  • North America – Market size and forecast 2020-2025
  • APAC – Market size and forecast 2020-2025
  • Europe – Market size and forecast 2020-2025
  • MEA – Market size and forecast 2020-2025
  • South America – Market size and forecast 2020-2025
  • Key leading countries
  • Market opportunity by geography
  • Market drivers
  • Market challenges
  • Market trends

Vendor Landscape

  • Vendor landscape
  • Landscape disruption

Vendor Analysis

  • Vendors covered
  • Market positioning of vendors
  • Alphabet Inc.
  • Facebook Inc.
  • Firsthand Technology Inc.
  • HTC Corp.
  • Magic Leap Inc.
  • Microsoft Corp.
  • NVIDIA Corp.
  • Unity Technologies Inc.
  • Wevr
  • WorldViz Inc.

Appendix

  • Scope of the report
  • Currency conversion rates for US$
  • Research methodology
  • List of abbreviations

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

ContactTechnavio ResearchJesse MaidaMedia & Marketing ExecutiveUS: +1 844 364 1100UK: +44 203 893 3200Email: [email protected]Website: www.technavio.com/

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