Global virtual reality market driven by growing demand for virtual platforms in the forecast period 2021-2026 – San Juan Independent

The new report by Expert Market Research, “Global Virtual Reality Market Report and Forecast 2021-2026” provides an in-depth analysis of the global world. virtual reality market, and assessing the market based on its segments such as components, technology, devices, end use, and key regions. The report tracks the latest trends in the industry and studies their impact on the market as a whole. It also assesses market dynamics, covering key demand and price indicators, along with market analysis based on SWOT and Porter Five Force models.

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The main points of the report include:

Market Overview (2016-2026)

  • Historic market size (2020): $18 billion
  • Expected compound annual growth rate (2021-2026): 33%

The virtual reality industry is expected to witness significant growth due to the increasing demand for virtual interfaces from diverse regions. The outbreak of the coronavirus pandemic has led organizations to search for alternative business fronts and meeting places. To reduce the risks associated with physical contact, initiatives such as working from home have been started. This has caused an increase in the demand for virtual reality. Healthcare and academic institutions are promoting the use of virtual reality among their institutions. The demand for distance learning and training is also steadily rising. Government regulations and investments have been favorable to the VR industry which will drive market demand.

Definition of industry and main sectors

Virtual Reality is a 3D interactive interface created by computer simulation. Electronic equipment such as gloves and headphones are required for the user to actively interact with the artificial visual environment. Virtual reality technology can be used for games and entertainment as well as in academic centers, healthcare and architecture to visualize numbers for better understanding.

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On the basis of component, the virtual reality industry is categorized into:

  • hardware
  • Programming
  • content

The hardware component is also divided into sensors and semiconductor components, among others.

On the basis of technology, virtual reality is categorized into:

  • Not immersive
  • semi fully immersive

The industry is categorized on the basis of the device into the following:

  • Gesture tracking device (GTD)
  • Projectors and Display Wall (PDW)
  • Head-Mounted Monitor (HMD)
  • Aharon

Based on the end use, virtual reality is divided into:

  • education
  • the games
  • Media and entertainment
  • Health Care
  • Army and Defense
  • Real estate
  • Aharon

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On the basis of regional markets, the industry is divided into:

1 North America
1.1 United States of America
1.2 Canada
2 Europe
2.1 Germany
2.2 United Kingdom
2.3 France
2.4 Italy
2.5 other
3 Asia Pacific
3.1 China
3.2 Japan
3.3 India
3.4 ASEAN
3.5 other
4 Latin America
4.1 Brazil
4.2 Argentina
4.3 Mexico
4.4 Other
5 Middle East and Africa
5.1 Saudi Arabia
5.2 United Arab Emirates
5.3 Nigeria
5.4 South Africa
5.5 Other

Market trends

The growing population, urbanization, and growing economies of developing nations provide impetus to the growth of the industry. Market players were investing in research and development. Improved and innovative technologies will lead the market for virtual reality. Network connectivity is expected to improve sharply with the healthy adoption of 5G technology. Low latency and very high network speed will drive market demand for VR. The demand from security forces will drive the VR industry even further. This is due to the 3D simulation feature of personnel training along with the preparation and strategy formulation of military missions.

The main players in the market

The major players in the market are Google LLC, Sony Corporation, HTC Corporation, Samsung Electronics Co., Ltd, Facebook Technologies, LLC, Microsoft Corporation, Vuzix Corporation, EON Reality, Inc and others. The report covers market shares, capabilities, plant transformations, expansions, investments, and mergers and acquisitions, among other recent developments of these market players.

information about us:

Expert Market Research is a leading business intelligence company, providing customized and syndicated market reports along with advisory services to our clients. We serve a wide client base ranging from Fortune 1000 companies to small and medium businesses. Our reports cover over 100 industries across established and emerging markets researched by our skilled analysts who track the latest global economic, demographic, business and market data.

At Expert Market Research, we tailor our approach to our clients’ needs and preferences, providing them with valuable, actionable and up-to-date market insights, thus, helping them achieve their optimum growth potential. We provide market intelligence across a range of industry sectors that include pharmaceuticals, food and beverages, technology, retail, chemicals and materials, energy, mining, packaging, and agriculture.

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