Market Research

Virtual Reality Market

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from $4,850 140 Pages Fortune Business Insights Pvt. Ltd. October, 2024 FOB19224311
Best Price Guarantee
Price from $4,850
Length 140 Pages
Publisher Fortune Business Insights Pvt. Ltd.
Published Date October, 2024
SKU FOB19224311

Virtual Reality Market



Growth Factors of Virtual Reality Market

The virtual reality market size was valued at USD 25.11 billion in 2023, and the market is now projected to grow from USD 32.64 billion in 2024 to USD 244.84 billion by 2032, exhibiting a CAGR of 28.6% during the forecast period of 2024-2032.

Due to the COVID-19 outbreak, the production of virtual reality market growth was affected in 2020 because of supply limitations. However, VR technology came to the limelight as it helped several industries during the crisis. VR Solutions penetration was observed in healthcare, gaming, education, entertainment and defense sectors to address new challenges. This transition increased VR needs across various sectors, as put forth below. Finally, VR was an important means of handling problems associated with the pandemic.

The entertainment aspect that is offered by virtual reality during live performances is rapidly gaining popularity among people across the globe, therefore improving the use of VR technology for various virtual performances such as live performances, concerts, and other sporting activities. Oculus Rift, PlayStation VR and HTC Vive seek to offer the environment in which these virtual technologies will be used. With these evolutions of VR outgrowing mere entertainment, other sectors such as healthcare, education and manufacturing are adopting virtual reality. This trend is expected to increase the virtual reality market share shortly.

Moreover, virtual reality is reinventing the healthcare sphere for surgeries, patient experience and training with VR-based simulations. Integrating VR in robotic surgeries, simulations and training devices enhances the health system and careers. With the rise of technology, the HIT application of VR is also anticipated to increase, this will contribute to the expansion of the VR market. AI interconnectivity, experiential learning and the future of hyper-realistic VR also hold great potential for market growth.

Comprehensive Analysis of Virtual Reality Market

This market segmentation is made of virtual reality market and the information & communication technology industry is growing exponentially. This market expansion in a regional analysis taking into account the supply and demand forces in hardware & software IT services. These segmentations are segregated by components, by device types and by industry. The components include, Hardware, Software and Content. The device types include, Head Mounted Display (HMD), VR Simulator, VR Glasses, Treadmills & Haptic Gloves and Others. The industry include, Gaming, Entertainment, Automotive, Retail, Healthcare, Education, Aerospace & Defense, Manufacturing and Others.

North America leads the virtual reality market share due to the leadership of major players and the growth of start-ups offering specific solutions. The U.S. is recorded to experience a large market impact because government spending on virtual technology is increasing the growth of the region’s VR market in the forecast period.

The key industry players in the market play a crucial role in the information & communication technology industry assuring industrial prospectus growth and setting market standards. These players include, Oculus (Meta Platforms, Inc.) (U.S.), Google LLC (Alphabet Inc.) (U.S.), Microsoft Corporation (U.S.), Sony Interactive Entertainment LLC (Japan), HTC Corporation (Taiwan), Samsung Electronics Co., Ltd. (South Korea), Unity Software Inc. (U.S.), Qualcomm Incorporated (U.S.), Nvidia Corporation (U.S.) and HaptX Inc. (U.S.). These market players provide a level-playing competitive landscape.

In February 2024, Sony Corporation announced its intent to enable the PlayStation VR2 to be used with computers. The company is still experimenting with this feature, which is set to let PS VR2 users on their PC select more VR games to play.

Segmentation Table

Global Virtual Reality Market Scope

Study Period 2019-2032

Base Year 2023

Forecast Period 2024-2032

Growth Rate CAGR of 28.6% from 2024 to 2032

Historical Period 2019-2022

Unit Value (USD Billion)

Segmentation By Component, Device Type, Industry, and Region

By Component
  • Hardware
    • Software
    • Content
    By Device Type
  • Head Mounted Devices (HMD)
    • VR Simulator
    • VR Glasses
    • Treadmills & Haptic Gloves
    • Others (Controllers, Cardboard, and others)
    By Industry
  • Gaming
    • Entertainment
    • Automotive
    • Retail
    • Healthcare
    • Education
    • Aerospace & Defense
    • Manufacturing
    • Others (Real Estate, Travel & Tourism, and others)
    By Region
  • North America (By Component, By Device Type, By Industry, and By Country)
    • U.S. (By Industry)
    • Canada (By Industry)
    • Europe (By Component, By Device Type, By Industry, and By Country)
    • U.K. (By Industry)
    • Germany (By Industry)
    • France (By Industry)
    • Scandinavia (By Industry)
    • Rest of Europe
    • Asia Pacific (By Component, By Device Type, By Industry, and By Country)
    • China (By Industry)
    • Japan (By Industry)
    • India (By Industry)
    • Southeast Asia (By Industry)
    • Rest of Asia Pacific
    • Middle East & Africa (By Component, By Device Type, By Industry, and By Country)
    • GCC (By Industry)
    • South Africa (By Industry)
    • Rest of the Middle East & Africa
    • Latin America (By Component, By Device Type, By Industry, and By Country)
    • Brazil (By Industry)
    • Mexico (By Industry)
    • Rest of Latin America


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    1. Introduction
    1.1. Definition, By Segment
    1.2. Research Methodology/Approach
    1.3. Data Sources
    2. Executive Summary
    3. Market Dynamics
    3.1. Macro and Micro Economic Indicators
    3.2. Drivers, Restraints, Opportunities and Trends
    4. Competition Landscape
    4.1. Business Strategies Adopted by Key Players
    4.2. Consolidated SWOT Analysis of Key Players
    4.3. Global Virtual Reality Key Players Market Share/Ranking, 2023
    5. Global Virtual Reality Market Size Estimates and Forecasts, By Segments, 2019-2032
    5.1. Key Findings
    5.2. By Component (USD)
    5.2.1. Hardware
    5.2.2. Software
    5.2.3. Content
    5.3. By Device Type (USD)
    5.3.1. Head Mounted Devices (HMD)
    5.3.2. VR Simulator
    5.3.3. VR Glasses
    5.3.4. Treadmills & Haptic Gloves
    5.3.5. Others (Controllers, Cardboard, etc.)
    5.4. By Industry (USD)
    5.4.1. Gaming
    5.4.2. Entertainment
    5.4.3. Automotive
    5.4.4. Retail
    5.4.5. Healthcare
    5.4.6. Education
    5.4.7. Aerospace & defense
    5.4.8. Manufacturing
    5.4.9. Others (Real Estate, Travel & Tourism, etc.)
    5.5. By Region (USD)
    5.5.1. North America
    5.5.2. Europe
    5.5.3. Asia Pacific
    5.5.4. Middle East & Africa
    5.5.5. Latin America
    6. North America Virtual Reality Market Size Estimates and Forecasts, By Segments, 2019-2032
    6.1. Key Findings
    6.2. By Component (USD)
    6.2.1. Hardware
    6.2.2. Software
    6.2.3. Content
    6.3. By Device Type (USD)
    6.3.1. Head Mounted Devices (HMD)
    6.3.2. VR Simulator
    6.3.3. VR Glasses
    6.3.4. Treadmills & Haptic Gloves
    6.3.5. Others (Controllers, Cardboard, etc.)
    6.4. By Industry (USD)
    6.4.1. Gaming
    6.4.2. Entertainment
    6.4.3. Automotive
    6.4.4. Retail
    6.4.5. Healthcare
    6.4.6. Education
    6.4.7. Aerospace & defense
    6.4.8. Manufacturing
    6.4.9. Others (Real Estate, Travel & Tourism, etc.)
    6.5. By Country (USD)
    6.5.1. United States
    6.5.1.1. Industry
    6.5.2. Canada
    6.5.2.1. Industry
    7. Europe Virtual Reality Market Size Estimates and Forecasts, By Segments, 2019-2032
    7.1. Key Findings
    7.2. By Component (USD)
    7.2.1. Hardware
    7.2.2. Software
    7.2.3. Content
    7.3. By Device Type (USD)
    7.3.1. Head Mounted Devices (HMD)
    7.3.2. VR Simulator
    7.3.3. VR Glasses
    7.3.4. Treadmills & Haptic Gloves
    7.3.5. Others (Controllers, Cardboard, etc.)
    7.4. By Industry (USD)
    7.4.1. Gaming
    7.4.2. Entertainment
    7.4.3. Automotive
    7.4.4. Retail
    7.4.5. Healthcare
    7.4.6. Education
    7.4.7. Aerospace & defense
    7.4.8. Manufacturing
    7.4.9. Others (Real Estate, Travel & Tourism, etc.)
    7.5. By Country (USD)
    7.5.1. United Kingdom
    7.5.1.1. Industry
    7.5.2. Germany
    7.5.2.1. Industry
    7.5.3. France
    7.5.3.1. Industry
    7.5.4. Scandinavia
    7.5.4.1. Industry
    7.5.5. Rest of Europe
    8. Asia Pacific Virtual Reality Market Size Estimates and Forecasts, By Segments, 2019-2032
    8.1. Key Findings
    8.2. By Component (USD)
    8.2.1. Hardware
    8.2.2. Software
    8.2.3. Content
    8.3. By Device Type (USD)
    8.3.1. Head Mounted Devices (HMD)
    8.3.2. VR Simulator
    8.3.3. VR Glasses
    8.3.4. Treadmills & Haptic Gloves
    8.3.5. Others (Controllers, Cardboard, etc.)
    8.4. By Industry (USD)
    8.4.1. Gaming
    8.4.2. Entertainment
    8.4.3. Automotive
    8.4.4. Retail
    8.4.5. Healthcare
    8.4.6. Education
    8.4.7. Aerospace & defense
    8.4.8. Manufacturing
    8.4.9. Others (Real Estate, Travel & Tourism, etc.)
    8.5. By Country (USD)
    8.5.1. China
    8.5.1.1. Industry
    8.5.2. Japan
    8.5.2.1. Industry
    8.5.3. India
    8.5.3.1. Industry
    8.5.4. Southeast Asia
    8.5.4.1. Industry
    8.5.5. Rest of Asia Pacific
    9. Middle East & Africa Virtual Reality Market Size Estimates and Forecasts, By Segments, 2019-2032
    9.1. Key Findings
    9.2. By Component (USD)
    9.2.1. Hardware
    9.2.2. Software
    9.2.3. Content
    9.3. By Device Type (USD)
    9.3.1. Head Mounted Devices (HMD)
    9.3.2. VR Simulator
    9.3.3. VR Glasses
    9.3.4. Treadmills & Haptic Gloves
    9.3.5. Others (Controllers, Cardboard, etc.)
    9.4. By Industry (USD)
    9.4.1. Gaming
    9.4.2. Entertainment
    9.4.3. Automotive
    9.4.4. Retail
    9.4.5. Healthcare
    9.4.6. Education
    9.4.7. Aerospace & defense
    9.4.8. Manufacturing
    9.4.9. Others (Real Estate, Travel & Tourism, etc.)
    9.5. By Country (USD)
    9.5.1. GCC
    9.5.1.1. Industry
    9.5.2. South Africa
    9.5.2.1. Industry
    9.5.3. Rest of Middle East & Africa
    10. Latin America Virtual Reality Market Size Estimates and Forecasts, By Segments, 2019-2032
    10.1. Key Findings
    10.2. By Component (USD)
    10.2.1. Hardware
    10.2.2. Software
    10.2.3. Content
    10.3. By Device Type (USD)
    10.3.1. Head Mounted Devices (HMD)
    10.3.2. VR Simulator
    10.3.3. VR Glasses
    10.3.4. Treadmills & Haptic Gloves
    10.3.5. Others (Controllers, Cardboard, etc.)
    10.4. By Industry (USD)
    10.4.1. Gaming
    10.4.2. Entertainment
    10.4.3. Automotive
    10.4.4. Retail
    10.4.5. Healthcare
    10.4.6. Education
    10.4.7. Aerospace & defense
    10.4.8. Manufacturing
    10.4.9. Others (Real Estate, Travel & Tourism, etc.)
    10.5. By Country (USD)
    10.5.1. Brazil
    10.5.1.1. Industry
    10.5.2. Mexico
    10.5.2.1. Industry
    10.5.3. Rest of Latin America
    11. Company Profiles for Top 10 Players (Based on data availability in public domain and/or on paid databases)
    11.1. Oculus (Meta Platforms, Inc.)
    11.1.1. Overview
    11.1.1.1. Key Management
    11.1.1.2. Headquarters
    11.1.1.3. Offerings/Business Segments
    11.1.2. Key Details (Key details are consolidated data and not product/service specific)
    11.1.2.1. Employee Size
    11.1.2.2. Past and Current Revenue
    11.1.2.3. Geographical Share
    11.1.2.4. Business Segment Share
    11.1.2.5. Recent Developments
    11.2. Google LLC (Alphabet Inc.)
    11.2.1. Overview
    11.2.1.1. Key Management
    11.2.1.2. Headquarters
    11.2.1.3. Offerings/Business Segments
    11.2.2. Key Details (Key details are consolidated data and not product/service specific)
    11.2.2.1. Employee Size
    11.2.2.2. Past and Current Revenue
    11.2.2.3. Geographical Share
    11.2.2.4. Business Segment Share
    11.2.2.5. Recent Developments
    11.3. Microsoft Corporation
    11.3.1. Overview
    11.3.1.1. Key Management
    11.3.1.2. Headquarters
    11.3.1.3. Offerings/Business Segments
    11.3.2. Key Details (Key details are consolidated data and not product/service specific)
    11.3.2.1. Employee Size
    11.3.2.2. Past and Current Revenue
    11.3.2.3. Geographical Share
    11.3.2.4. Business Segment Share
    11.3.2.5. Recent Developments
    11.4. Sony Interactive Entertainment LLC
    11.4.1. Overview
    11.4.1.1. Key Management
    11.4.1.2. Headquarters
    11.4.1.3. Offerings/Business Segments
    11.4.2. Key Details (Key details are consolidated data and not product/service specific)
    11.4.2.1. Employee Size
    11.4.2.2. Past and Current Revenue
    11.4.2.3. Geographical Share
    11.4.2.4. Business Segment Share
    11.4.2.5. Recent Developments
    11.5. HTC Corporation
    11.5.1. Overview
    11.5.1.1. Key Management
    11.5.1.2. Headquarters
    11.5.1.3. Offerings/Business Segments
    11.5.2. Key Details (Key details are consolidated data and not product/service specific)
    11.5.2.1. Employee Size
    11.5.2.2. Past and Current Revenue
    11.5.2.3. Geographical Share
    11.5.2.4. Business Segment Share
    11.5.2.5. Recent Developments
    11.6. Samsung Electronics Co., Ltd.
    11.6.1. Overview
    11.6.1.1. Key Management
    11.6.1.2. Headquarters
    11.6.1.3. Offerings/Business Segments
    11.6.2. Key Details (Key details are consolidated data and not product/service specific)
    11.6.2.1. Employee Size
    11.6.2.2. Past and Current Revenue
    11.6.2.3. Geographical Share
    11.6.2.4. Business Segment Share
    11.6.2.5. Recent Developments
    11.7. Unity Software Inc.
    11.7.1. Overview
    11.7.1.1. Key Management
    11.7.1.2. Headquarters
    11.7.1.3. Offerings/Business Segments
    11.7.2. Key Details (Key details are consolidated data and not product/service specific)
    11.7.2.1. Employee Size
    11.7.2.2. Past and Current Revenue
    11.7.2.3. Geographical Share
    11.7.2.4. Business Segment Share
    11.7.2.5. Recent Developments
    11.8. Qualcomm Incorporated
    11.8.1. Overview
    11.8.1.1. Key Management
    11.8.1.2. Headquarters
    11.8.1.3. Offerings/Business Segments
    11.8.2. Key Details (Key details are consolidated data and not product/service specific)
    11.8.2.1. Employee Size
    11.8.2.2. Past and Current Revenue
    11.8.2.3. Geographical Share
    11.8.2.4. Business Segment Share
    11.8.2.5. Recent Developments
    11.9. Nvidia Corporation
    11.9.1. Overview
    11.9.1.1. Key Management
    11.9.1.2. Headquarters
    11.9.1.3. Offerings/Business Segments
    11.9.2. Key Details (Key details are consolidated data and not product/service specific)
    11.9.2.1. Employee Size
    11.9.2.2. Past and Current Revenue
    11.9.2.3. Geographical Share
    11.9.2.4. Business Segment Share
    11.9.2.5. Recent Developments
    11.10. HaptX Inc.
    11.10.1. Overview
    11.10.1.1. Key Management
    11.10.1.2. Headquarters
    11.10.1.3. Offerings/Business Segments
    11.10.2. Key Details (Key details are consolidated data and not product/service specific)
    11.10.2.1. Employee Size
    11.10.2.2. Past and Current Revenue
    11.10.2.3. Geographical Share
    11.10.2.4. Business Segment Share
    11.10.2.5. Recent Developments

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