The Global Virtual Reality Market is valued at USD 1.95 billion in 2016 and is estimated to grow at a CAGR of 60.9% during the forecast period 2017-2022 and reach USD 33.84 billion by 2022. After computer revolution, mobile phone revolution and smart phone revolution; all happening in the past two decades, now it is time for Virtual and Augmented Reality to take over. Facebook's acquiring of Oculus for a whopping two billion USD in 2014 was when our attention shifted to this. When Augmented Reality Systems seamlessly integrate Virtual aspects into our reality, Virtual Reality Systems simulate the entire situation for us. Virtual reality has the power and potential to change the way we see and perceive everything around us forever. The global Virtual Reality Market, much like its close cousin, the Augmented Reality Market, is one of the fastest growing markets in the world currently and will be worth billions of dollars in the near future.
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There has been a huge surge in demand for VR based applications in several domains in recent years. In terms of devices, Head Mounted Display Devices hold the major share of market with more than 50% in 2015, while Gesture Tracking Devices are expected to be the fastest growing over the forecast period 2015-2020. Growing customer preference towards 3D and more realistic entertainment experience, increasing demand in healthcare and educational sectors, proliferation of smart phones, a need to cut down the defense budget by simulating the training sessions are some of the factors that will drive the market. But these VR systems can create detrimental issues such as simulation sickness and motion sickness which needs to be addressed by the vendors in order to gain customer acceptance. Companies are doing well in creating curved headsets that can offer 160 to 180 degree field of view, but developing gesture tracking devices remains a challenge. The computers should be able to instantaneously detect the user's actions in real world and respond without latency in order to avoid motion sickness and nausea. Lack of awareness and lack of content for these systems also act as restraints to this market
Browse Full Report with TOC: http://www.orbisresearch.com/reports/index/global-virtual-reality-market-by-product-type-hand-held-devices-gesture-controlled-devices-hmd-vr-technology--non-immersive-semi-immersive-fully-immersive-application-industry-geography-trends-forecast-2017-2022
The Global Virtual Reality Market is segmented on the basis of product type (Hand held devices, Head Mounted Displays (HMDs), Gesture-Controlled devices, and Others), Technology used (Non-immersive, Semi-immersive, Fully-immersive) Applications (Medical & Healthcare, Education, Commerce, Advertising & Marketing, Energy and Utilities, Entertainment and Gaming, Design and Engineering, Logistics, and others), and geography (North America, Europe, Asia Pacific, South America, Middle east and Africa). We observe that the Asia Pacific segment is growing at a very rapid rate and will soon command a lion share in the Global Virtual Reality Market. North America which is significantly advanced in terms of technology will hold the major share of market over the coming years, while Asia Pacific will witness significant growth rate of close to 100% after 2018, once the technology becomes affordable.
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Some of the major players discussed in this report are Google, Microsoft, Facebook, Samsung, Qualcomm Vuforia, METAIO's SDK, TotalImmersion, Sony and many others.
What the report offers:
- Market Definition for Virtual Reality Market along with identification of key drivers, restraints and opportunities for the market.
- Market analysis for the Virtual Reality Market, with region specific assessments and competition analysis on regional scale.
- Identification of factors instrumental in changing the market scenarios, rising prospective opportunities and identification of key companies which can influence the market on regional scale.
- Extensively researched competitive landscape section with profiles of major companies along with their strategic initiatives and market shares.
- Identification and analysis of the Macro and Micro factors that affect the global Virtual Reality Market on global and regional scale.
- A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.
Table of Content:
1.1 Study Deliverables
1.2 Market definition
1.3 Key findings of the study
2. Research methodology
3. Executive summary
4. Market Overview
4.2 Market size and forecast
4.3 Market share estimation
4.4 Industry value chain analysis
4.5 Porter's five forces analysis
4.5.1 Industry competition
4.5.2 Potential of new entrants
4.5.3 Bargaining Power of suppliers
4.5.4 Bargaining Power of customers
4.5.5 Threat of substitute products
5. Market dynamics
5.1.1 Increase in demand for immersive Virtual Reality in Gaming industry
5.1.2 Decline in production costs of display devices
5.1.3 Potential of VR in simulating life threatening situations and in Military training
5.2.1 Unawareness of the technology and its safety aspects
5.2.2 Health concerns regarding motion sickness caused by VR systems
5.3.1 Tremendous potential in several emerging sub-segments such as Fully-immersive VR systems
6. Technology Snapshot
7. Market segmentation
7.1 By product type
7.1.1 Hand-held devices
7.1.2 Gesture-Controlled Devices
7.1.3 Head Mounted Displays (HMD)
7.2 By VR technology
7.3 By Applications
7.3.1 Medical & Healthcare
7.3.4 Advertising & Marketing
7.3.5 Energy & Utilities
7.3.6 Entertainment & Gaming
7.3.7 Design & Engineering
8. Vendor market share analysis
9. Competitive intelligence- Company profiles
9.6 Qualcomm Vuforia
9.7 METAIO's SDK
10. Investment analysis
10.1 Recent mergers and acquisitions
10.2 Investment scenario and opportunities
11. Future of Virtual Reality
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