According to the new market research report, now available on ASDReports, "Virtual reality Market by Technology (Semi & Fully Immersive), Device (HMD, gesture Tracking), Component (Sensor, Display, Software), Application (Gaming, Entertainment, and Industrial), Geography - Trends & Forecasts to 2014-2020", the virtual reality technology market is expected to reach $15.89 Billion by 2020 at a CAGR of 63.18% between 2015 and 2020, The report includes an in-depth analysis of the market segmented on the basis of technology, devices, components, applications, and geography.
Virtual reality is an integration of hardware, software, and virtual content that is assembled to provide virtual reality experiences to users. Virtual reality is experienced by the user through devices such as head mounted displays (HMDs). The virtual reality technology plays a crucial role in many applications such as gaming, entertainment, aerospace and defense, industrial, medical, retail and marketing, education, and others. The consumers’ demand for virtual reality devices is projected to grow rapidly in the coming five years owing to the availability of technologically advanced virtual reality devices, increased computational power of the devices, and their increasing utility in the gaming and entertainment applications.
Some of the big technology giants have entered the virtual reality market. Facebook, Inc. (U.S.) acquired Oculus VR, Inc. (U.S.) in March 2014. Sony Corporation (Japan) is developing “Project Morpheus”, HTC Corporation (Taiwan) and Valve Corporation (U.S.) are jointly developing “HTC Vive” head mounted display, Microsoft Corporation has revealed its “Microsoft HoloLens” device that is likely to be made available in early 2016. Apart from these, many other companies are waiting for the right opportunity to enter the virtual reality market.
This report describes the market trends, drivers, and challenges with respect to the global virtual reality technology market, and forecasts the market size between 2015 and 2020, segmented on the basis of technology, device, component, application, and geography. This global report provides a detailed view of the market across the regions of North America (the U.S. and others), Europe (France, Germany, the U.K., and Rest of Europe), Asia-Pacific (Japan, China, India, South Korea, Rest of APAC), and RoW (Middle East & Africa and Latin America,).
The competitive landscape of the market shows a number of new product launches, large scale collaborations, and agreements and partnerships across the value chain, with a number of tier-one players around the globe. Major players in the global virtual reality technology market include Oculus VR, Inc. (U.S.), Samsung Electronics Co., Ltd (Korea), Eon Reality, Inc. (U.S.), Vuzix Corporation (U.S.), Sensics, Inc. (U.S.), Leap Motion, Inc. (U.S.), Sixense Entertainment, Inc. (U.S.), Cyberglove Systems LLC (U.S.), Microsoft Corporation (U.S.), Barco N.V. (Belgium), and others.
Source: ASDReports - Market Research
Date: Jul 30, 2015