Virtual Reality Market Size, Share & Trends Analysis Report By Technology, By Device, By Component, By Application, By Region And Segment Forecasts, 2022 - 2030

April 2022 •
300 pages •
Report ID: 6277974 •
Format: PDF

Summary
Table of contents

Virtual Reality Market Size, Share & Trends Analysis Report By Technology (Semi & Fully Immersive, Non-immersive), By Device (HMD, GTD, PDW), By Component (Hardware, Software), By Application, By Region, And Segment Forecasts, 2022 - 2030

Virtual Reality Market Growth & Trends

The global virtual reality market size is expected to reach USD 87.0 billion by 2030, according to the latest report. 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.

With the deployment of VR technology, the e-commerce industry has enabled shoppers to virtually try new clothes and accessories.This supports buyers in making the right purchase choices.

Furthermore, the temporary closure of educational institutions to combat the spread of coronavirus has forced them to conduct their academic sessions on VR-based online platforms to facilitate better collaboration.

The VR technology has also enabled medical personnel to deliver instructions and aid therapies through the audio-visual tool.The increasing use of automation and Artificial Intelligence (AI) across many industries is one of the primary growth drivers of the market.

North America is anticipated to maintain its lead during the forecast period owing to the dominance of technology companies in the region. Additionally, the emergence of various start-ups related to advanced technology is expected to impact the growth of the market.

Virtual Reality Market Report Highlights
• The market is expected to be driven by advances in smartphone hardware and cutting-edge virtual reality-compatible headsets during the forecast period
• The HMD device segment accounted for the largest revenue share of over 60.0% in 2021
• The semi and fully immersive technology segment accounted for the largest revenue share in 2021, which is expected to further increase throughout the forecast period. This can be attributed to the ability of the technology to bring a real-like dimension to a simulated domain
• Asia Pacific accounted for the largest revenue share of over 40.0% in 2021 and is anticipated to dominate the market during the forecast period

Ahmad helps you find the right report:

+1 718 618 4302
Contact by email

FAQ

Testimonials

The market research advisor answered my questions quickly and professionally. ReportBuyer's team did their best to ensure that I felt comfortable before making the investment to purchase the report.

Cristian Nunez

Director of Corporate Development Chugach Alaska Corporation

My overall experience with ReportBuyer today has been very positive, and I must thank you for your patience (...). Also, the sample you sent me and the explanations provided were very helpful.

D. Lescuyer

Executive Vice President Oral Business at Skyepharma

The research specialist was very helpful, and proposed the best content for my needs. ReportBuyer also offered a great follow-up, thanks for everything !

P. Thompson

EMEA Managing Director

We were satisfied with the support that ReportBuyer's team provided. Thanks to their recommendations, the report we purchased provided exactly what we want.

Y. Wang

Business Analyst

We didn't have time to do the research internally, and thanks to ReportBuyer's team we were able to find the appropriate data.

S. Chen

Research Coordinator

I was impressed by the customer service: it was fast, responsive, and 100% professional !

D. Krivan

Market Research Analyst

The research specialist provided prompt and helpful service. He also followed up to ensure I had all the information to deliver my business development plan.

C. Adams

Senior Business Development Manager