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North America Immersive Virtual Reality Market Size, Share & Trends Analysis Report by Component, Device, Technology, End-Use, Country and Growth Forecast, 2024-2031

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    Report

  • 142 Pages
  • September 2024
  • Region: North America
  • Marqual IT Solutions Pvt. Ltd (KBV Research)
  • ID: 6014173
Description Jump to:
The North America Immersive Virtual Reality Market is expected to witness market growth of 25.0% CAGR during the forecast period (2024-2031).

The US market dominated the North America 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 $24.99 billion by 2031. The Canada market is experiencing a CAGR of 27.6% during 2024-2031. Additionally, the Mexico market would exhibit a CAGR of 26.6% during 2024-2031.



Immersive virtual reality has many applications beyond the gaming and entertainment sectors. VR enables engineers and designers to create and test virtual prototypes of products before physical production. This reduces costs and time associated with traditional prototyping, allowing for rapid iteration and refinement of designs in a virtual environment.

Additionally, teams across different locations can collaborate on design projects in a shared virtual space. This facilitates real-time feedback and adjustments, streamlining the design process and improving efficiency. VR allows potential buyers to explore and interact with virtual representations of properties.

Increased funding in Canada’s aerospace sector is leading to the development of advanced VR training programs for pilots. VR simulates flight scenarios and provides immersive training experiences, improving pilot skills and safety. As per the Government of Canada, with a total budget of $250 million over the coming years, the Aerospace Regional Recovery Initiative (ARRI) was delivered by Canada’s regional development agencies (RDAs).

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

  • US
  • Canada
  • Mexico
  • Rest of North America

Table of Contents

Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 North America Immersive Virtual Reality Market, by Component
1.4.2 North America Immersive Virtual Reality Market, by Device
1.4.3 North America Immersive Virtual Reality Market, by Technology
1.4.4 North America Immersive Virtual Reality Market, by End-use
1.4.5 North America Immersive Virtual Reality Market, by Country
1.5 Methodology for the Research
Chapter 2. Market at a Glance
2.1 Key Highlights
Chapter 3. Market Overview
3.1 Introduction
3.1.1 Overview
3.1.1.1 Market Composition and Scenario
3.2 Key Factors Impacting the Market
3.2.1 Market Drivers
3.2.2 Market Restraints
3.2.3 Market Opportunities
3.2.4 Market Challenges
Chapter 4. Competition Analysis - Global
4.1 The Cardinal Matrix
4.2 Recent Industry Wide Strategic Developments
4.2.1 Partnerships, Collaborations and Agreements
4.2.2 Product Launches and Product Expansions
4.2.3 Acquisition and Mergers
4.3 Market Share Analysis, 2023
4.4 Top Winning Strategies
4.4.1 Key Leading Strategies: Percentage Distribution (2020-2024)
4.4.2 Key Strategic Move: (Partnerships, Collaborations & Agreements: 2022, Apr - 2024, Sep) Leading Players
4.5 Porter Five Forces Analysis
Chapter 5. North America Immersive Virtual Reality Market by Component
5.1 North America Hardware Market by Country
5.2 North America Software Market by Country
5.3 North America Services Market by Country
Chapter 6. North America Immersive Virtual Reality Market by Device
6.1 North America Head Mounted Display Market by Country
6.2 North America Gesture Tracking Device Market by Country
6.3 North America Projectors & Display Wall Market by Country
Chapter 7. North America Immersive Virtual Reality Market by Technology
7.1 North America Semi & Fully Immersive Market by Country
7.2 North America Non-Immersive Market by Country
Chapter 8. North America Immersive Virtual Reality Market by End-use
8.1 North America Gaming Market by Country
8.2 North America Media & Entertainment Market by Country
8.3 North America Healthcare Market by Country
8.4 North America Education Market by Country
8.5 North America Automotive Market by Country
8.6 North America Manufacturing Market by Country
8.7 North America Retail & E-commerce Market by Country
8.8 North America Aerospace, Defense & others Market by Country
Chapter 9. North America Immersive Virtual Reality Market by Country
9.1 US Immersive Virtual Reality Market
9.1.1 US Immersive Virtual Reality Market by Component
9.1.2 US Immersive Virtual Reality Market by Device
9.1.3 US Immersive Virtual Reality Market by Technology
9.1.4 US Immersive Virtual Reality Market by End-use
9.2 Canada Immersive Virtual Reality Market
9.2.1 Canada Immersive Virtual Reality Market by Component
9.2.2 Canada Immersive Virtual Reality Market by Device
9.2.3 Canada Immersive Virtual Reality Market by Technology
9.2.4 Canada Immersive Virtual Reality Market by End-use
9.3 Mexico Immersive Virtual Reality Market
9.3.1 Mexico Immersive Virtual Reality Market by Component
9.3.2 Mexico Immersive Virtual Reality Market by Device
9.3.3 Mexico Immersive Virtual Reality Market by Technology
9.3.4 Mexico Immersive Virtual Reality Market by End-use
9.4 Rest of North America Immersive Virtual Reality Market
9.4.1 Rest of North America Immersive Virtual Reality Market by Component
9.4.2 Rest of North America Immersive Virtual Reality Market by Device
9.4.3 Rest of North America Immersive Virtual Reality Market by Technology
9.4.4 Rest of North America Immersive Virtual Reality Market by End-use
Chapter 10. Company Profiles
10.1 Microsoft Corporation
10.1.1 Company Overview
10.1.2 Financial Analysis
10.1.3 Segmental and Regional Analysis
10.1.4 Research & Development Expenses
10.1.5 Recent Strategies and Developments
10.1.5.1 Partnerships, Collaborations, and Agreements
10.1.5.2 Product Launches and Product Expansions
10.1.5.3 Acquisition and Mergers
10.1.6 SWOT Analysis
10.2 Google LLC (Alphabet Inc.)
10.2.1 Company Overview
10.2.2 Financial Analysis
10.2.3 Segmental and Regional Analysis
10.2.4 Research & Development Expense
10.2.5 Recent Strategies and Developments
10.2.5.1 Partnerships, Collaborations, and Agreements
10.2.6 SWOT Analysis
10.3 HTC Corporation
10.3.1 Company Overview
10.3.2 Financial Analysis
10.3.3 Research & Development Expenses
10.3.4 Recent Strategies and Developments
10.3.4.1 Partnerships, Collaborations, and Agreements
10.3.4.2 Product Launches and Product Expansions
10.3.5 SWOT Analysis
10.4 Magic Leap, Inc.
10.4.1 Company Overview
10.4.2 Recent Strategies and Developments
10.4.2.1 Product Launches and Product Expansions
10.4.3 SWOT Analysis
10.5 Meta Platforms, Inc.
10.5.1 Company Overview
10.5.2 Financial Analysis
10.5.3 Segment and Regional Analysis
10.5.4 Research & Development Expense
10.5.5 Recent Strategies and Developments
10.5.5.1 Partnerships, Collaborations, and Agreements
10.5.5.2 Product Launches and Product Expansions
10.5.6 SWOT Analysis
10.6 Samsung Electronics Co., Ltd. (Samsung Group)
10.6.1 Company Overview
10.6.2 Financial Analysis
10.6.3 Segmental and Regional Analysis
10.6.4 Research & Development Expenses
10.6.5 Recent Strategies and Developments
10.6.5.1 Partnerships, Collaborations, and Agreements
10.6.6 SWOT Analysis
10.7 Sony Corporation
10.7.1 Company Overview
10.7.2 Financial Analysis
10.7.3 Segmental and Regional Analysis
10.7.4 Research & Development Expenses
10.7.5 Recent Strategies and Developments
10.7.5.1 Acquisition and Mergers
10.7.6 SWOT Analysis
10.8 Unity Software, Inc.
10.8.1 Company Overview
10.8.2 Financial Analysis
10.8.3 Segmental and Regional Analysis
10.8.4 Research & Development Expenses
10.8.5 Recent Strategies and Developments
10.8.5.1 Partnerships, Collaborations, and Agreements
10.9 Apple, Inc.
10.9.1 Company Overview
10.9.2 Financial Analysis
10.9.3 Regional Analysis
10.9.4 Research & Development Expense
10.9.5 Recent Strategies and Developments
10.9.5.1 Product Launches and Product Expansions
10.9.5.2 Acquisition and Mergers
10.9.6 SWOT Analysis
10.10. Qualcomm Incorporated (Qualcomm Technologies, Inc.)
10.10.1 Company Overview
10.10.2 Financial Analysis
10.10.3 Segmental and Regional Analysis
10.10.4 Research & Development Expense
10.10.5 Recent Strategies and Developments
10.10.5.1 Product Launches and Product Expansions
10.10.6 SWOT Analysis

Companies Mentioned

Some of the key companies profiled in this North America 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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About the Immersive Virtual Reality Market

Immersive Virtual Reality (IVR) refers to advanced virtual reality experiences that fully engage the senses to simulate a user's physical presence in a virtual environment. Within the broader field of Virtual Reality (VR) and Augmented Reality (AR), IVR focuses on high-fidelity simulations, often incorporating hardware such as head-mounted displays, tactile gloves, and motion tracking to deepen the level of immersion. Augmented Reality, by contrast, overlays digital information onto the real world, while standard Virtual Reality offers a computer-generated environment with interactions but may not necessarily aim for full immersion. The immersive VR market is diversified, catering to various sectors including entertainment, education, healthcare, and military training, leveraging the technology for experiential learning, therapeutic applications, and enhanced gaming experiences. Key companies in the immersive VR market include Oculus VR, a subsidiary of Facebook Inc., which specializes in VR hardware and software products; HTC Vive, which produces VR hardware and promotes the Viveport VR software platform; Sony Interactive Entertainment, known for its PlayStation VR headset; and Valve Corporation, which has developed the Valve Index VR kit. Microsoft also participates through its mixed reality platform, the HoloLens, while Magic Leap focuses on proprietary wearable AR technology. Show Less Read more

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