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Report
Global Virtual Reality Market Report and Forecast 2023-2028
Market Report I 2023-10-18 I 174 Pages I EMR Inc.
Global Virtual Reality Market Report and Forecast 2023-2028
Market Outlook
According to the report by Expert Market Research (EMR), the global virtual reality market grew substantially in the historical period. Aided by the increasing demand for immersive gaming and entertainment experiences and the arrival of 5G, the market is projected to grow at a CAGR of 33% between 2023 and 2028 to grow significantly by 2028 to reach a value of USD 176.23 billion by 2028.
Virtual reality refers to a computer-generated simulation in which a user can interact with an artificial three-dimensional environment using electronic devices, such as VR goggles or gloves fitted with sensors. As technological horizons expand, VR stands out as a paramount facet, reshaping entertainment, gaming, healthcare, and education by offering experiences that blur the line between reality and the digital realm.
The surging demand for immersive gaming and entertainment experiences acts as the primary catalyst driving the virtual reality market growth. With gaming enthusiasts seeking realistic, interactive, and 3D gaming experiences, VR has quickly risen to meet these demands, offering unparalleled levels of engagement. Major tech and gaming enterprises are pouring resources into VR research and development, heralding a new era in digital gaming dynamics.
Beyond the realm of entertainment, VR's transformative potential is evident across diverse sectors. In the healthcare industry, virtual reality market demand is witnessing a surge to execute surgical training, patient treatment, and rehabilitation. Medical professionals can use virtual simulations to hone their skills, ensure precision during surgeries, and provide therapeutic interventions for conditions like PTSD or phobias. In the realm of education, VR creates dynamic and interactive learning environments, enabling students to explore complex concepts in an immersive setting, thus fostering better comprehension and retention.
Another pivotal domain for VR is the real estate and architectural sector. Virtual property tours provide prospective buyers with an authentic feel of the property, irrespective of their geographic location. This not only optimises the buying experience but also streamlines the sales process for realtors.
The integration of AI with VR promises an even more personalised and intelligent virtual experience, further cementing VR's position in the future digital ecosystem. Moreover, with the global push towards remote work and online collaborations, along with VR platforms that support virtual meetings and collaborative environments have influenced the virtual reality market outlook.
Market Segmentation
The market can be divided based on component, technology, device, end use, and region.
Market Breakup by Component
- Hardware
o Sensors
o Semiconductor Components
o Others
- Software
- Content
Market Breakup by Technology
- Non-immersive
- Semi and Fully Immersive
Market Breakup by Device
- Gesture-Tracking Device (GTD)
- Projectors and Display Wall (PDW)
- Head Mounted Display (HMD)
- Others
Market Breakup by End Use
- Education
- Gaming
- Media and Entertainment
- Healthcare
- Military and Defence
- Real Estate
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global virtual reality market. Some of the major players explored in the report by Expert Market Research are as follows:
- Google LLC
- Sony Corporation
- HTC Corporation
- Samsung Electronics Co., Ltd
- Facebook Technologies, LLC
- Microsoft Corporation
- Vuzix Corporation
- EON Reality, Inc.
- Others
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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual 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 Historical Trend (2018-2022)
8.4.1.2 Forecast Trend (2023-2028)
8.4.1.3 Breakup by Type
8.4.1.3.1 Sensors
8.4.1.3.1.1 Historical Trend (2018-2022)
8.4.1.3.1.2 Forecast Trend (2023-2028)
8.4.1.3.2 Semiconductor Components
8.4.1.3.2.1 Historical Trend (2018-2022)
8.4.1.3.2.2 Forecast Trend (2023-2028)
8.4.1.3.3 Others
8.4.2 Software
8.4.2.1 Historical Trend (2018-2022)
8.4.2.2 Forecast Trend (2023-2028)
8.4.3 Content
8.4.3.1 Historical Trend (2018-2022)
8.4.3.2 Forecast Trend (2023-2028)
8.5 Global Virtual Reality Market by Technology
8.5.1 Non-immersive
8.5.1.1 Historical Trend (2018-2022)
8.5.1.2 Forecast Trend (2023-2028)
8.5.2 Semi and Fully Immersive
8.5.2.1 Historical Trend (2018-2022)
8.5.2.2 Forecast Trend (2023-2028)
8.6 Global Virtual Reality Market by Device
8.6.1 Gesture-Tracking Device (GTD)
8.6.1.1 Historical Trend (2018-2022)
8.6.1.2 Forecast Trend (2023-2028)
8.6.2 Projectors and Display Wall (PDW)
8.6.2.1 Historical Trend (2018-2022)
8.6.2.2 Forecast Trend (2023-2028)
8.6.3 Head Mounted Display (HMD)
8.6.3.1 Historical Trend (2018-2022)
8.6.3.2 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 Historical Trend (2018-2022)
8.7.1.2 Forecast Trend (2023-2028)
8.7.2 Gaming
8.7.2.1 Historical Trend (2018-2022)
8.7.2.2 Forecast Trend (2023-2028)
8.7.3 Media and Entertainment
8.7.3.1 Historical Trend (2018-2022)
8.7.3.2 Forecast Trend (2023-2028)
8.7.4 Healthcare
8.7.4.1 Historical Trend (2018-2022)
8.7.4.2 Forecast Trend (2023-2028)
8.7.5 Military and Defence
8.7.5.1 Historical Trend (2018-2022)
8.7.5.2 Forecast Trend (2023-2028)
8.7.6 Real Estate
8.7.6.1 Historical Trend (2018-2022)
8.7.6.2 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 Historical Trend (2018-2022)
8.8.1.2 Forecast Trend (2023-2028)
8.8.2 Europe
8.8.2.1 Historical Trend (2018-2022)
8.8.2.2 Forecast Trend (2023-2028)
8.8.3 Asia Pacific
8.8.3.1 Historical Trend (2018-2022)
8.8.3.2 Forecast Trend (2023-2028)
8.8.4 Latin America
8.8.4.1 Historical Trend (2018-2022)
8.8.4.2 Forecast Trend (2023-2028)
8.8.5 Middle East and Africa
8.8.5.1 Historical Trend (2018-2022)
8.8.5.2 Forecast Trend (2023-2028)
9 North America Virtual Reality Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2022)
9.1.2 Forecast Trend (2023-2028)
9.2 Canada
9.2.1 Historical Trend (2018-2022)
9.2.2 Forecast Trend (2023-2028)
10 Europe Virtual Reality Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2022)
10.1.2 Forecast Trend (2023-2028)
10.2 Germany
10.2.1 Historical Trend (2018-2022)
10.2.2 Forecast Trend (2023-2028)
10.3 France
10.3.1 Historical Trend (2018-2022)
10.3.2 Forecast Trend (2023-2028)
10.4 Italy
10.4.1 Historical Trend (2018-2022)
10.4.2 Forecast Trend (2023-2028)
10.5 Others
11 Asia Pacific Virtual Reality Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2022)
11.1.2 Forecast Trend (2023-2028)
11.2 Japan
11.2.1 Historical Trend (2018-2022)
11.2.2 Forecast Trend (2023-2028)
11.3 India
11.3.1 Historical Trend (2018-2022)
11.3.2 Forecast Trend (2023-2028)
11.4 ASEAN
11.4.1 Historical Trend (2018-2022)
11.4.2 Forecast Trend (2023-2028)
11.5 Australia
11.5.1 Historical Trend (2018-2022)
11.5.2 Forecast Trend (2023-2028)
11.6 Others
12 Latin America Virtual Reality Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2022)
12.1.2 Forecast Trend (2023-2028)
12.2 Argentina
12.2.1 Historical Trend (2018-2022)
12.2.2 Forecast Trend (2023-2028)
12.3 Mexico
12.3.1 Historical Trend (2018-2022)
12.3.2 Forecast Trend (2023-2028)
12.4 Others
13 Middle East and Africa Virtual Reality Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2022)
13.1.2 Forecast Trend (2023-2028)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2022)
13.2.2 Forecast Trend (2023-2028)
13.3 Nigeria
13.3.1 Historical Trend (2018-2022)
13.3.2 Forecast Trend (2023-2028)
13.4 South Africa
13.4.1 Historical Trend (2018-2022)
13.4.2 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 2032
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
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