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Virtual Reality (VR) Market Size, Share & Trends Analysis Report By Technology (Semi & Fully Immersive, Non-immersive), By Device (HMD, GTD), By Component (Hardware, Software), By Application, By Region, And Segment Forecasts, 2023 - 2030

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    Report

  • 300 Pages
  • July 2023
  • Region: Global
  • Grand View Research
  • ID: 4312515
Description Jump to:
The global virtual reality market size is expected to reach USD 435.36 billion by 2030, growing at a CAGR of 27.5% from 2023 to 2030. The increasing adoption of user immersion technology in industries, such as education, industrial training, and healthcare, among others, is expected to drive market growth. In addition, internet penetration in the form of high-speed 5G networks has positively impacted the adoption of Virtual Reality (VR) technology due to fast and low-latency internet connections. The growing demand for training and research across industries, such as education, aerospace & defense, and automotive, is also driving the growth of the market. For instance, in October 2022, Meta Platforms, Inc. launched the Meta Quest Pro VR headset with the Snapdragon Qualcomm XR2+ chipset.

According to the company, the headset is targeted toward professionals and creators looking for high-end VR headsets. VR technology has enabled e-commerce companies to let users shop virtually. This technology creates an interactive environment and helps improve the overall shopping experience for users. The demand for virtual reality in the education sector is also growing as teachers can conduct interactive academic sessions on VR-based online platforms to facilitate better collaboration. North America is anticipated to hold a significant share in the market by 2030 owing to the dominance of technology companies in the region. Technology penetration in the region and the availability of new VR products are expected to boost the region's growth further. Moreover, the emergence of various start-ups related to virtual reality (VR) is expected to help create growth opportunities for the market.

Virtual Reality Market Report Highlights

  • The Gesture Tracking Device (GTD) segment is expected to grow at the highest CAGR of 29.9% over the forecast period due to the trend of gesture tracing for enhanced immersion
  • The semi & fully immersive technology segment held the largest revenue share of 82.7% in 2022 due to the realistic experience provided by the technology that closely simulates real-world scenarios
  • The software component segment is expected to grow at the highest CAGR of 29.7% from 2023 to 2030 due to the growing demand for VR applications in gaming and entertainment
  • Asia Pacific accounted for the largest revenue share of over 39% in 2022 due to the presence of leading VR equipment manufacturers and encouraging initiatives by the governments for the use of advanced technologies

Table of Contents

Chapter 1 Methodology and Scope
1.1 Market Segmentation & Scope
1.2 Market Definitions
1.3 Information Procurement
1.3.1 Information analysis
1.3.2 Market formulation & data visualization
1.3.3 Data validation & publishing
1.4 Research Scope and Assumptions
1.4.1 List of data sources
Chapter 2 Executive Summary
2.1 Market Snapshot
2.2 Segment Snapshot
2.3 Competitive Landscape Snapshot
Chapter 3 Industry Outlook
3.1 Market Lineage Outlook
3.2 Industry Value Chain Analysis
3.3 Market Dynamics
3.3.1 Market driver analysis
3.3.1.1 Evolving applications in the entertainment and medical sectors
3.3.1.2 Growing VR penetration in consumer electronics
3.3.2 Market challenge analysis
3.3.2.1 High initial investments and device compatibility restrictions
3.3.2.2 Spatial discomfort and risk of other ailments
3.4 Industry Opportunities & Challenges
3.5 Industry Analysis Tools
3.5.1 PORTER’s Analysis
3.5.2 Macroeconomic Analysis
Chapter 4 Virtual Reality Market Device Outlook
4.1 Virtual Reality Market Share By Device, 2018 - 2030 (USD Million)
4.2 Device Movement Analysis & Market Share, 2022 & 2030
4.3 Virtual Reality Market Estimates & Forecast, By Device (USD Million)
4.3.1 Head-Mounted Display (HMD)
4.3.2 Gesture-Tracking Device (GTD)
4.3.3 Projectors & Display Wall (PDW)
Chapter 5 Virtual Reality Market Technology Outlook
5.1 Virtual Reality Market Share By Technology, 2018 - 2030 (USD Million)
5.2 Technology Movement Analysis & Market Share, 2022 & 2030
5.3 Virtual Reality Market Estimates & Forecast, By Technology (USD Million)
5.3.1 Semi & Fully Immersive
5.3.2 Non-immersive
Chapter 6 Virtual Reality Market Component Outlook
6.1 Virtual Reality Market Share By Component, 2018 - 2030 (USD Million)
6.2 Component Movement Analysis & Market Share, 2022 & 2030
6.3 Virtual Reality Market Estimates & Forecast, By Component (USD Million)
6.3.1 Hardware
6.3.2 Software
Chapter 7 Virtual Reality Market Application Outlook
7.1 Virtual Reality Market Share By Application, 2018 - 2030 (USD Million)
7.2 Application Movement Analysis & Market Share, 2022 & 2030
7.3 Virtual Reality Market Estimates & Forecast, By Application (USD Million)
7.3.1 Aerospace & Defense
7.3.2 Consumer
7.3.3 Commercial
7.3.4 Enterprise
7.3.5 Healthcare
7.3.6 Others
Chapter 8 Virtual Reality Regional Outlook
8.1 Virtual Reality Market Share By Region, 2022 & 2030
8.2 North America
8.2.1 North America virtual reality market, 2018 - 2030
8.2.2 U.S.
8.2.2.1 U.S. virtual reality market, 2018 - 2030 (USD Million)
8.2.3 Canada
8.2.3.1 Canada virtual reality market, 2018 - 2030 (USD Million)
8.2.4 Mexico
8.2.4.1 Canada virtual reality market, 2018 - 2030 (USD Million)
8.3 Europe
8.3.1 Europe virtual reality market, 2018 - 2030
8.3.2 UK
8.3.2.1 UK virtual reality market, 2018 - 2030 (USD Million)
8.3.3 Germany
8.3.3.1 Germany virtual reality market, 2018 - 2030 (USD Million)
8.3.4 Italy
8.3.4.1 Italy virtual reality market, 2018 - 2030 (USD Million)
8.3.5 France
8.3.5.1 France virtual reality market, 2018 - 2030 (USD Million)
8.4 Asia Pacific
8.4.1 Asia Pacific virtual reality market, 2018 - 2030
8.4.2 China
8.4.2.1 China virtual reality market, 2018 - 2030 (USD Million)
8.4.3 Japan
8.4.3.1 Japan virtual reality market, 2018 - 2030 (USD Million)
8.4.4 South Korea
8.4.4.1 South Korea virtual reality market, 2018 - 2030 (USD Million)
8.4.5 India
8.4.5.1 India virtual reality market, 2018 - 2030 (USD Million)
8.5 South America
8.5.1 South America virtual reality market, 2018 - 2030
8.5.2 Brazil
8.5.2.1 Brazil virtual reality market, 2018 - 2030 (USD Million)
8.5.3 Argentina
8.5.3.1 Argentina virtual reality market, 2018 - 2030 (USD Million)
8.6 MEA
8.6.1 MEA virtual reality market, 2018 - 2030
8.6.2 Saudi Arabia
8.6.2.1 Saudi Arabia virtual reality market, 2018 - 2030 (USD Million)
8.6.3 South Africa
8.6.3.1 South Africa virtual reality market, 2018 - 2030 (USD Million)
Chapter 9 Competitive Landscape
9.1 Key Market Participants
9.1.1 Alphabet Inc.
9.1.2 Barco NV
9.1.3 CyberGlove Systems Inc.
9.1.4 Meta Platforms, Inc.
9.1.5 HTC Corporation
9.1.6 Microsoft Corporation
9.1.7 Samsung Electronics Co., Ltd
9.1.8 Sensics, Inc.
9.1.9 Sixense Enterprises Inc. (Penumbra, Inc.)
9.1.10 Ultraleap Limited
9.2 Recent Developments & Impact Analysis, By Key Market Participants
9.3 Company Categorization
9.4 Participant’s Overview
9.5 Financial Performance
9.6 Product Benchmarking
9.7 Company Heat Map Analysis
9.8 Company Market Share Analysis, 2022
9.9 Strategy Mapping
9.9.1 Expansion
9.9.2 Mergers & acquisitions
9.9.3 Collaborations
9.9.4 New product launches
9.9.5 Research & development
List of Tables
Table 1 Virtual reality market - key market driver impact
Table 2 Key market restraint/challenges impact
Table 3 Global virtual reality market revenue estimates and forecast, by device, 2018 - 2030 (USD Million)
Table 4 Global virtual reality market revenue estimates and forecast, by technology, 2018 - 2030 (USD Million)
Table 5 Global virtual reality market revenue estimates and forecast, by component, 2018 - 2030 (USD Million)
Table 6 Global virtual reality market revenue estimates and forecast, by application, 2018 - 2030 (USD Million)
Table 7 Company heat map analysis
Table 8 Key companies undergoing expansion
Table 9 Key companies involved in mergers & acquisitions
Table 10 Key companies involved in collaborations
Table 11 Key companies new product launches
Table 12 Key companies research & development
List of Figures
Fig. 1 Market snapshot
Fig. 2 Information procurement
Fig. 3 Data analysis models
Fig. 4 Market formulation and validation
Fig. 5 Data validating & publishing
Fig. 6 Market snapshot
Fig. 7 Segment snapshot
Fig. 8 Competitive landscape snapshot
Fig. 9 Virtual reality market value, 2022 & 2030 (USD Million)
Fig. 10 Key opportunity analysis
Fig. 11 Industry value chain analysis
Fig. 12 Market dynamics
Fig. 13 Porter’s analysis
Fig. 14 PESTEL analysis
Fig. 15 Virtual reality market, by device, key takeaways
Fig. 16 Virtual reality market, by device, market share, 2022 & 2030
Fig. 17 Head-mounted display (HMD) estimates & forecasts, 2018 - 2030 (USD Million)
Fig. 18 Gesture-tracking device (GTD) market estimates & forecasts, 2018 - 2030 (USD Million)
Fig. 19 Projectors & Display Wall (PDW) market estimates & forecasts, 2018 - 2030 (USD Million)
Fig. 20 Virtual reality market, by technology, key takeaways
Fig. 21 Virtual reality market, by technology, market share, 2022 & 2030
Fig. 22 Semi & fully immersive market estimates & forecasts, 2018 - 2030 (USD Million)
Fig. 23 Non-immersive market estimates & forecasts, 2018 - 2030 (USD Million)
Fig. 24 Virtual reality market, by component, key takeaways
Fig. 25 Virtual reality market, by component, market share, 2022 & 2030
Fig. 26 Hardware market estimates & forecasts, 2018 - 2030 (USD Million)
Fig. 27 Software market estimates & forecasts, 2018 - 2030 (USD Million)
Fig. 28 Virtual reality market, by application, key takeaways
Fig. 29 Virtual reality market, by application, market share, 2022 & 2030
Fig. 30 Aerospace & defense market estimates & forecasts, 2018 - 2030 (USD Million)
Fig. 31 Consumer market estimates & forecasts, 2018 - 2030 (USD Million)
Fig. 32 Commercial market estimates & forecasts, 2018 - 2030 (USD Million)
Fig. 33 Enterprise market estimates & forecasts, 2018 - 2030 (USD Million)
Fig. 34 Healthcare market estimates & forecasts, 2018 - 2030 (USD Million)
Fig. 35 Others market estimates & forecasts, 2018 - 2030 (USD Million)
Fig. 36 Virtual reality market revenue, by region, 2022 & 2030 (USD Million)
Fig. 37 North America virtual reality market estimates & forecast, 2018 - 2030 (USD Million)
Fig. 38 U.S. virtual reality market estimates & forecast, 2018 - 2030 (USD Million)
Fig. 39 Canada virtual reality market estimates & forecast, 2018 - 2030 (USD Million)
Fig. 40 Mexico virtual reality market estimates & forecast, 2018 - 2030 (USD Million)
Fig. 41 Europe virtual reality market estimates & forecast, 2018 - 2030 (USD Million)
Fig. 42 UK virtual reality market estimates & forecast, 2018 - 2030 (USD Million)
Fig. 43 Germany virtual reality market estimates & forecast, 2018 - 2030 (USD Million)
Fig. 44 Italy virtual reality market estimates & forecast, 2018 - 2030 (USD Million)
Fig. 45 France virtual reality market estimates & forecast, 2018 - 2030 (USD Million)
Fig. 46 Asia Pacific virtual reality market estimates & forecast, 2018 - 2030 (USD Million)
Fig. 47 China virtual reality market estimates & forecast, 2018 - 2030 (USD Million)
Fig. 48 Japan virtual reality market estimates & forecast, 2018 - 2030 (USD Million)
Fig. 49 South Korea virtual reality market estimates & forecast, 2018 - 2030 (USD Million)
Fig. 50 India virtual reality market estimates & forecast, 2018 - 2030 (USD Million)
Fig. 51 South America virtual reality market estimates & forecast, 2018 - 2030 (USD Million)
Fig. 52 Brazil virtual reality market estimates & forecast, 2018 - 2030 (USD Million)
Fig. 53 Argentina virtual reality market estimates & forecast, 2018 - 2030 (USD Million)
Fig. 54 MEA virtual reality market estimates & forecast, 2018 - 2030 (USD Million)
Fig. 55 Saudi Arabia virtual reality market estimates & forecast, 2018 - 2030 (USD Million)
Fig. 56 South Africa virtual reality market estimates & forecast, 2018 - 2030 (USD Million)
Fig. 57 Strategic framework

Companies Mentioned

  • Alphabet Inc.
  • Barco NV
  • CyberGlove Systems Inc.
  • Meta Platforms, Inc.
  • HTC Corporation
  • Microsoft Corporation
  • Samsung Electronics Co., Ltd
  • Sensics, Inc.
  • Sixense Enterprises Inc. (Penumbra, Inc.)
  • Ultraleap Limited

Methodology

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Table Information

Report AttributeDetails
No. of Pages300
PublishedJuly 2023
Forecast Period2022 - 2030
Estimated Market Value ( USD ) in 2022 $ 59.96 billion
Forecasted Market Value ( USD ) by 2030 $ 435.36 billion
Compound Annual Growth Rate27.5%
Regions CoveredGlobal
No. of Companies Mentioned10

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