Global Virtual Reality (VR) Market 2024-2028

Global Virtual Reality (VR) Market 2024-2028

The virtual reality (VR) market is forecasted to grow by USD 64.72 bn during 2023-2028, accelerating at a CAGR of 28.3% during the forecast period. The report on the virtual reality (VR) 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 recent developments in virtual reality technologies, increased affordability of virtual reality gear, and growing consumer interest in virtual reality devices.

Technavio's virtual reality (VR) market is segmented as below:

By End-user

Enterprise
Consumer

By Component

Hardware
Software

By Geography

North America
APAC
Europe
Middle East and Africa
South America

This study identifies the integration of artificial intelligence (AI) and machine learning (ML) with virtual reality technology as one of the prime reasons driving the virtual reality (VR) market growth during the next few years. Also, the rise in popularity of metaverse in various sectors and an increasing number of social virtual reality spaces will lead to sizable demand in the market.

The report on the virtual reality (VR) market covers the following areas:

Virtual reality (VR) market sizing
Virtual reality (VR) market forecast
Virtual reality (VR) market industry analysis

The 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 (VR) market vendors including 3D Systems Corp., Advanced Micro Devices Inc., Alphabet Inc., Apple Inc., Baidu Inc., DPVR, HTC Corp., Lenovo Group Ltd., Meta Platforms Inc., Microsoft Corp., Osso VR Inc., Pico Technology Ltd., Samsung Electronics Co. Ltd., Sony Group Corp., StarVR Corp., Unity Software Inc., Valve Corp., Varjo Technologies Oy, Virtuix Inc., and FOVE Inc.. Also, the virtual reality (VR) 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 and an analysis of the key vendors.

The publisher presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources through 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. The 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.