North America Immersive Virtual Reality Market Size, Share & Trends Analysis Report By Component (Hardware, Software, and Services), By Device, By Technology, By End-use, By Country and Growth Forecast, 2024 - 2031
The North America Immersive Virtual Reality Market would witness market growth of 25.0% CAGR during the forecast period (2024-2031).
The US market dominated the North America Immersive Virtual Reality Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $24,997.4 million by 2031. The Canada market is experiencing a CAGR of 27.6% during (2024 - 2031). Additionally, The Mexico market would exhibit a CAGR of 26.6% during (2024 - 2031).
Immersive virtual reality has many applications beyond the gaming and entertainment sectors. VR enables engineers and designers to create and test virtual prototypes of products before physical production. This reduces costs and time associated with traditional prototyping, allowing for rapid iteration and refinement of designs in a virtual environment.
Additionally, teams across different locations can collaborate on design projects in a shared virtual space. This facilitates real-time feedback and adjustments, streamlining the design process and improving efficiency. VR allows potential buyers to explore and interact with virtual representations of properties.
Increased funding in Canada’s aerospace sector is leading to the development of advanced VR training programs for pilots. VR simulates flight scenarios and provides immersive training experiences, improving pilot skills and safety. As per the Government of Canada, with a total budget of $250 million over the coming years, the Aerospace Regional Recovery Initiative (ARRI) was delivered by Canada’s regional development agencies (RDAs).
Based on Component, the market is segmented into Hardware, Software, and Services. Based on Device, the market is segmented into Head Mounted Display, Gesture Tracking Device, and Projectors & Display Wall. Based on Technology, the market is segmented into Semi & Fully Immersive, and Non-Immersive. Based on End-use, the market is segmented into Gaming, Media & Entertainment, Healthcare, Education, Automotive, Manufacturing, Retail & E-commerce, and Aerospace, Defense & others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
List of Key Companies Profiled
- Microsoft Corporation
- HTC Corporation
- Meta Platforms, Inc.
- Samsung Electronics Co., Ltd. (Samsung Group)
- Sony Corporation
- Unity Software Inc.
- Magic Leap, Inc.
- Apple, Inc.
- Qualcomm Incorporated (Qualcomm Technologies, Inc.)
- Google LLC
By Component
- Hardware
- Software
- Services
- Head Mounted Display
- Gesture Tracking Device
- Projectors & Display Wall
- Semi & Fully Immersive
- Non-Immersive
- Gaming
- Media & Entertainment
- Healthcare
- Education
- Automotive
- Manufacturing
- Retail & E-commerce
- Aerospace, Defense & others
- US
- Canada
- Mexico
- Rest of North America
- Chapter 1. Market Scope & Methodology
- 1.1 Market Definition
- 1.2 Objectives
- 1.3 Market Scope
- 1.4 Segmentation
- 1.4.1 North America Immersive Virtual Reality Market, by Component
- 1.4.2 North America Immersive Virtual Reality Market, by Device
- 1.4.3 North America Immersive Virtual Reality Market, by Technology
- 1.4.4 North America Immersive Virtual Reality Market, by End-use
- 1.4.5 North America Immersive Virtual Reality Market, by Country
- 1.5 Methodology for the research
- Chapter 2. Market at a Glance
- 2.1 Key Highlights
- Chapter 3. Market Overview
- 3.1 Introduction
- 3.1.1 Overview
- 3.1.1.1 Market Composition and Scenario
- 3.2 Key Factors Impacting the Market
- 3.2.1 Market Drivers
- 3.2.2 Market Restraints
- 3.2.3 Market Opportunities
- 3.2.4 Market Challenges
- Chapter 4. Competition Analysis - Global
- 4.1 KBV Cardinal Matrix
- 4.2 Recent Industry Wide Strategic Developments
- 4.2.1 Partnerships, Collaborations and Agreements
- 4.2.2 Product Launches and Product Expansions
- 4.2.3 Acquisition and Mergers
- 4.3 Market Share Analysis, 2023
- 4.4 Top Winning Strategies
- 4.4.1 Key Leading Strategies: Percentage Distribution (2020-2024)
- 4.4.2 Key Strategic Move: (Partnerships, Collaborations & Agreements: 2022, Apr – 2024, Sep) Leading Players
- 4.5 Porter Five Forces Analysis
- Chapter 5. North America Immersive Virtual Reality Market by Component
- 5.1 North America Hardware Market by Country
- 5.2 North America Software Market by Country
- 5.3 North America Services Market by Country
- Chapter 6. North America Immersive Virtual Reality Market by Device
- 6.1 North America Head Mounted Display Market by Country
- 6.2 North America Gesture Tracking Device Market by Country
- 6.3 North America Projectors & Display Wall Market by Country
- Chapter 7. North America Immersive Virtual Reality Market by Technology
- 7.1 North America Semi & Fully Immersive Market by Country
- 7.2 North America Non-Immersive Market by Country
- Chapter 8. North America Immersive Virtual Reality Market by End-use
- 8.1 North America Gaming Market by Country
- 8.2 North America Media & Entertainment Market by Country
- 8.3 North America Healthcare Market by Country
- 8.4 North America Education Market by Country
- 8.5 North America Automotive Market by Country
- 8.6 North America Manufacturing Market by Country
- 8.7 North America Retail & E-commerce Market by Country
- 8.8 North America Aerospace, Defense & others Market by Country
- Chapter 9. North America Immersive Virtual Reality Market by Country
- 9.1 US Immersive Virtual Reality Market
- 9.1.1 US Immersive Virtual Reality Market by Component
- 9.1.2 US Immersive Virtual Reality Market by Device
- 9.1.3 US Immersive Virtual Reality Market by Technology
- 9.1.4 US Immersive Virtual Reality Market by End-use
- 9.2 Canada Immersive Virtual Reality Market
- 9.2.1 Canada Immersive Virtual Reality Market by Component
- 9.2.2 Canada Immersive Virtual Reality Market by Device
- 9.2.3 Canada Immersive Virtual Reality Market by Technology
- 9.2.4 Canada Immersive Virtual Reality Market by End-use
- 9.3 Mexico Immersive Virtual Reality Market
- 9.3.1 Mexico Immersive Virtual Reality Market by Component
- 9.3.2 Mexico Immersive Virtual Reality Market by Device
- 9.3.3 Mexico Immersive Virtual Reality Market by Technology
- 9.3.4 Mexico Immersive Virtual Reality Market by End-use
- 9.4 Rest of North America Immersive Virtual Reality Market
- 9.4.1 Rest of North America Immersive Virtual Reality Market by Component
- 9.4.2 Rest of North America Immersive Virtual Reality Market by Device
- 9.4.3 Rest of North America Immersive Virtual Reality Market by Technology
- 9.4.4 Rest of North America Immersive Virtual Reality Market by End-use
- Chapter 10. Company Profiles
- 10.1 Microsoft Corporation
- 10.1.1 Company Overview
- 10.1.2 Financial Analysis
- 10.1.3 Segmental and Regional Analysis
- 10.1.4 Research & Development Expenses
- 10.1.5 Recent strategies and developments:
- 10.1.5.1 Partnerships, Collaborations, and Agreements:
- 10.1.5.2 Product Launches and Product Expansions:
- 10.1.5.3 Acquisition and Mergers:
- 10.1.6 SWOT Analysis
- 10.2 Google LLC (Alphabet Inc.)
- 10.2.1 Company Overview
- 10.2.2 Financial Analysis
- 10.2.3 Segmental and Regional Analysis
- 10.2.4 Research & Development Expense
- 10.2.5 Recent strategies and developments:
- 10.2.5.1 Partnerships, Collaborations, and Agreements:
- 10.2.6 SWOT Analysis
- 10.3 HTC Corporation
- 10.3.1 Company Overview
- 10.3.2 Financial Analysis
- 10.3.3 Research & Development Expenses
- 10.3.4 Recent strategies and developments:
- 10.3.4.1 Partnerships, Collaborations, and Agreements:
- 10.3.4.2 Product Launches and Product Expansions:
- 10.3.5 SWOT Analysis
- 10.4 Magic Leap, Inc.
- 10.4.1 Company Overview
- 10.4.2 Recent strategies and developments:
- 10.4.2.1 Product Launches and Product Expansions:
- 10.4.3 SWOT Analysis
- 10.5 Meta Platforms, Inc.
- 10.5.1 Company Overview
- 10.5.2 Financial Analysis
- 10.5.3 Segment and Regional Analysis
- 10.5.4 Research & Development Expense
- 10.5.5 Recent strategies and developments:
- 10.5.5.1 Partnerships, Collaborations, and Agreements:
- 10.5.5.2 Product Launches and Product Expansions:
- 10.5.6 SWOT Analysis
- 10.6 Samsung Electronics Co., Ltd. (Samsung Group)
- 10.6.1 Company Overview
- 10.6.2 Financial Analysis
- 10.6.3 Segmental and Regional Analysis
- 10.6.4 Research & Development Expenses
- 10.6.5 Recent strategies and developments:
- 10.6.5.1 Partnerships, Collaborations, and Agreements:
- 10.6.6 SWOT Analysis
- 10.7 Sony Corporation
- 10.7.1 Company Overview
- 10.7.2 Financial Analysis
- 10.7.3 Segmental and Regional Analysis
- 10.7.4 Research & Development Expenses
- 10.7.5 Recent strategies and developments:
- 10.7.5.1 Acquisition and Mergers:
- 10.7.6 SWOT Analysis
- 10.8 Unity Software, Inc.
- 10.8.1 Company Overview
- 10.8.2 Financial Analysis
- 10.8.3 Segmental and Regional Analysis
- 10.8.4 Research & Development Expenses
- 10.8.5 Recent strategies and developments:
- 10.8.5.1 Partnerships, Collaborations, and Agreements:
- 10.9 Apple, Inc.
- 10.9.1 Company Overview
- 10.9.2 Financial Analysis
- 10.9.3 Regional Analysis
- 10.9.4 Research & Development Expense
- 10.9.5 Recent strategies and developments:
- 10.9.5.1 Product Launches and Product Expansions:
- 10.9.5.2 Acquisition and Mergers:
- 10.9.6 SWOT Analysis
- 10.10. Qualcomm Incorporated (Qualcomm Technologies, Inc.)
- 10.10.1 Company Overview
- 10.10.2 Financial Analysis
- 10.10.3 Segmental and Regional Analysis
- 10.10.4 Research & Development Expense
- 10.10.5 Recent strategies and developments:
- 10.10.5.1 Product Launches and Product Expansions:
- 10.10.6 SWOT Analysis
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