Strategic Intelligence: Virtual Reality

Strategic Intelligence: Virtual Reality

Summary

Virtual reality (VR) is a technology that immerses the user in an entirely artificial world, which has the illusion of reality. According to GlobalData forecasts, the global VR market, worth $11 billion in 2023, will generate revenues of $57 billion by 2030. This represents a compound annual growth rate (CAGR) of 26% over the period.

Key Highlights

• VR is a niche technology with gaming, entertainment, and professional training applications. Despite advances in hardware and software, VR faces significant challenges that will hinder its growth. One of the primary obstacles is cost. VR headsets, even those with basic features, typically cost between $200 and $1,000. Additionally, some VR headsets must be tethered to powerful devices to function effectively, which can further increase the overall cost.
• Another challenge is the potential for negative health effects associated with prolonged VR use. Some users have suffered eye strain, headaches, and motion sickness. Addressing these health concerns is crucial to ensure the long-term viability of VR technology. Moreover, the development of compelling and diverse VR content remains a challenge. While there have been some successful VR experiences, creating content that truly captivates users and offers lasting value is not always easy. The lack of a thriving VR content ecosystem could limit the appeal of the technology.
• VR has the potential to be a useful tool in various industries, but vendors must overcome barriers of cost, health concerns, and content development if the technology is to achieve mainstream acceptance.

Scope

• This report provides an overview of the virtual reality theme.
• It identifies the key trends impacting growth of the theme over the next 12 to 24 months, split into three categories: technology trends, macroeconomic trends, and regulatory trends.
• It includes comprehensive industry analysis, including forecasts for virtual reality revenues to 2030. These forecasts are split by end-user (consumer and enterprise) and platform (hardware and software).
• It contains details of M&A deals driven by the virtual reality theme, and a timeline highlighting milestones in the development of virtual reality.
• The detailed value chain shows comprises five segments: semiconductors, components, headsets, platforms, and applications and content. Leading and challenging vendors are identified across all five segments.

Reasons to Buy

• Tech companies are expanding the VR ecosystem and positioning it as a next-generation computing platform. This report tells you all you need to know about VR, including market forecasts to 2030 and profiles of the leading companies.