Global Virtual Reality Market 2023-2027

Global Virtual Reality Market 2023-2027

Technavio has been monitoring the virtual reality market and is forecast to grow by $181340.96 mn during 2022-2027, accelerating at a CAGR of 60.65% during the forecast period. Our report on the virtual reality market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.

The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by penetration of head-mounted display in the gaming and entertainment sector, increasing product launches, and increased affordability of VR gear.

Technavio's virtual reality market is segmented as below:

By Component

• Hardware
• Software

By End-user

• Enterprise
• Consumer

By Geographical Landscape

• North America
• APAC
• Europe
• Middle East and Africa
• South America

This study identifies the use of VR in aerospace and defense for training and simulation as one of the prime reasons driving the virtual reality market growth during the next few years. Also, increasing number of social VR spaces and 360-degree videos will lead to sizable demand in the market.

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters. Our report on the virtual reality market covers the following areas:

• Virtual reality market sizing
• Virtual reality market forecast
• Virtual reality market industry analysis

Technavio's robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading virtual reality market vendors that include 360 Labs LLC, Advanced Micro Devices Inc., Alphabet Inc., CXR Agency, Firsthand Technology Inc., Groove Jones LLC, HTC Corp., Innowise Group, KONCEPT VR LLC, Manus Technologies Group B.V., Marxent Labs LLC, Meta Platforms Inc., Microsoft Corp., NVIDIA Corp., Retinad, The Ninehertz, Unity Software Inc., Virtalis Holdings Ltd., Wevr, and WorldViz Inc. Also, the virtual reality market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. Technavio's market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast accurate market growth.