According to IMARC Group’s latest report, “Virtual Reality Headset Market: Global Industry Trends, Size, Growth, Opportunity and Forecast 2022-2027”, the global virtual reality headset market will reach USD 7.8 billion in 2021. Looking ahead, IMARC Group expects the market to reach USD 26.8 billion during 2022-2027, exhibiting a CAGR of 23.27%. This report can be an excellent guide for investors, researchers, consultants, marketing strategists and those planning to enter the market in any form.
A virtual reality (VR) headset is a head-mounted device that completely covers the eyes and allows users to interact with a simulated artificial three-dimensional (3D) experience. It consists of a stereoscopic head-mounted display, stereo sound, head movement, eye tracking sensors, gyroscopes, accelerometers, magnetometers and structured light systems. It provides a comprehensive view, creates a real world around the user and provides an operational experience. In addition, it creates an artificial computer-generated world to facilitate simulations of touch, sound and vision.It also promotes hands-on learning that enables students to grasp theoretical concepts faster and deeper, and enhances the learning process by adding interactive and engaging content for hands-on learning. VR finds wide applications in consumer goods and electronics, healthcare, gaming and entertainment, automotive, education, real estate, security and military. Currently, it is available in various forms such as standalone, personal computer (PC) based and console based.
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Impact of Covid-19:
Note: We regularly monitor the direct impact of COVID-19 on the market, along with the indirect impact of related industries. These observations will be integrated into the report.
Virtual Reality Headset Market Trends and Drivers:
The increasing penetration of smartphones and the development trend of virtual reality games are some of the main factors that have a positive impact on the market. Moreover, the integration of advanced technologies such as artificial intelligence (AI) and internet of things (IoT) to enhance the effectiveness of headsets is fueling the market growth. For example, AI algorithms help realize autonomous and evolutionary communication in mobile, bioinspired and adaptive gaming, multi-user and distributed systems, context-aware networking, data collection and synthesis, and energy-efficient monitoring in mobile VR technology. Additionally, easy availability of VR headsets across various online and offline distribution channels coupled with free doorstep delivery and secure payment gateways are driving the market growth.
In addition, improving living standards and increasing disposable income levels are driving the demand for VR headsets. Additionally, the growing demand for VR headsets in the healthcare sector is driving the market growth to offer professionals a safe platform to practice scenarios related to anxiety disorders. Additionally, the growing adoption of VR in the design and manufacturing industries as an alternative to physical prototypes is positively impacting the market. For example, designers interact with original computer-aided design (CAD) drawings with real-time rendering of hard-to-reach and changeable elements. Additionally, the growing popularity of VR headsets among the youth as a learning aid is fueling the market growth. In addition, increasing investments in research and development (R&D) to introduce more advanced and cost-effective product options are driving the market.
The report has segmented the market into the following categories:
Market Segmentation by Product:
Market Segmentation by Material:
Market Segmentation by End User:
Games and Entertainment
Market segmentation by region:
Middle East and Africa
Fove Inc., Google LLC (Alphabet Inc.)
LG Electronics Inc.
Merge Labs Inc.
Meta Platforms Inc.
Samsung Electronics Co. Ltd.
Sony Interactive Entertainment LLC (Sony Group Corporation).
Key points of the report:
Market Performance (2016-2021)
Market Outlook (2022-2027)
Market Drivers and Success Factors
Impact of COVID-19
Value Chain Analysis
A comprehensive map of the competitive landscape
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