The Latin America, Middle East and Africa Immersive Virtual Reality Market is expected to witness market growth of 28.6% CAGR during the forecast period (2024-2031).
The Brazil market dominated the LAMEA Immersive Virtual Reality Market by Country in 2023, and is expected to continue to be a dominant market till 2031; thereby, achieving a market value of $1.62 billion by 2031. The Argentina market is showcasing a CAGR of 30.3% during 2024-2031. Additionally, the UAE market would register a CAGR of 27.5% during 2024-2031.
VR-based cognitive rehabilitation programs are designed to promote neuroplasticity in patients recovering from brain injuries or neurological disorders. These programs use tailored VR exercises to enhance cognitive functions such as memory, attention, and problem-solving.
Additionally, VR provides controlled environments for exposure therapy, helping patients confront and manage phobias, post-traumatic stress disorder (PTSD), and anxiety disorders. Patients can gradually build coping strategies by simulating triggering scenarios in a safe space. Museums and cultural institutions use VR to create virtual exhibits and interactive displays, allowing users to explore historical artifacts and art piece.
Brazil has seen a substantial increase in internet users, with a high percentage accessing the internet through mobile devices. This shift has facilitated the growth of online shopping, as consumers find it convenient to browse and purchase products via their smartphones. As per the International Trade Administration (ITA), Brazil is one of the most populous nations in Latin America, and its e-commerce sector is anticipated to surpass US$200 billion by 2026, expanding at 14.3% annually.
The Brazil market dominated the LAMEA Immersive Virtual Reality Market by Country in 2023, and is expected to continue to be a dominant market till 2031; thereby, achieving a market value of $1.62 billion by 2031. The Argentina market is showcasing a CAGR of 30.3% during 2024-2031. Additionally, the UAE market would register a CAGR of 27.5% during 2024-2031.
VR-based cognitive rehabilitation programs are designed to promote neuroplasticity in patients recovering from brain injuries or neurological disorders. These programs use tailored VR exercises to enhance cognitive functions such as memory, attention, and problem-solving.
Additionally, VR provides controlled environments for exposure therapy, helping patients confront and manage phobias, post-traumatic stress disorder (PTSD), and anxiety disorders. Patients can gradually build coping strategies by simulating triggering scenarios in a safe space. Museums and cultural institutions use VR to create virtual exhibits and interactive displays, allowing users to explore historical artifacts and art piece.
Brazil has seen a substantial increase in internet users, with a high percentage accessing the internet through mobile devices. This shift has facilitated the growth of online shopping, as consumers find it convenient to browse and purchase products via their smartphones. As per the International Trade Administration (ITA), Brazil is one of the most populous nations in Latin America, and its e-commerce sector is anticipated to surpass US$200 billion by 2026, expanding at 14.3% annually.
List of Key Companies Profiled
- Microsoft Corporation
- HTC Corporation
- Meta Platforms, Inc.
- Samsung Electronics Co., Ltd. (Samsung Group)
- Sony Corporation
- Unity Software Inc.
- Magic Leap, Inc.
- Apple, Inc.
- Qualcomm Incorporated (Qualcomm Technologies, Inc.)
- Google LLC
Market Report Segmentation
By Component
- Hardware
- Software
- Services
By Device
- Head Mounted Display
- Gesture Tracking Device
- Projectors and Display Wall
By Technology
- Semi and Fully Immersive
- Non-Immersive
By End-use
- Gaming
- Media and Entertainment
- Healthcare
- Education
- Automotive
- Manufacturing
- Retail and E-commerce
- Aerospace, Defense and others
By Country
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market at a Glance
Chapter 3. Market Overview
Chapter 4. Competition Analysis - Global
Chapter 5. LAMEA Immersive Virtual Reality Market by Component
Chapter 6. LAMEA Immersive Virtual Reality Market by Device
Chapter 7. LAMEA Immersive Virtual Reality Market by Technology
Chapter 8. LAMEA Immersive Virtual Reality Market by End-use
Chapter 9. LAMEA Immersive Virtual Reality Market by Country
Chapter 10. Company Profiles
Companies Mentioned
Some of the key companies profiled in this LAMEA Immersive Virtual Reality market report include:- Microsoft Corporation
- HTC Corporation
- Meta Platforms, Inc.
- Samsung Electronics Co., Ltd. (Samsung Group)
- Sony Corporation
- Unity Software Inc.
- Magic Leap, Inc.
- Apple, Inc.
- Qualcomm Incorporated (Qualcomm Technologies, Inc.)
- Google LLC
Methodology
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