Virtual Reality Market Size & Share Report, 2021-2028

 

Virtual Reality Headset Market

The Virtual Reality Headset Market is projected to reach USD 59 Billion by 2028, growing at a CAGR of 28.8% over the forecast period (2021-2028).

The factors driving the growth of Virtual Reality Headset Market includes application of Virtual Reality Headsets in healthcare and manufacturing industries, increasing demand for 3D Movies and the integration of advanced technologies such as Artificial Intelligence (AI), machine learning and Internet of Things (IoT). As per the report published by Bloomberg, the Global 3D Animation Market is expected to reach USD 32.87 billion by the end of 2028, growing at a robust CAGR of 11.5% during the forecast period (2021-2028), which will boost the Virtual Reality Headset Market in the coming years. Moreover, the increasing investments in Gaming, Military and Real Estate sectors along with rising trend of Live Virtual Entertainment around the world, are enhancing the growth of Virtual Reality Headset Market. In addition, the increasing penetration of smart phones and improvements in network and connectivity, are some of the additional factors augmenting the Virtual Reality Headset Market share in the International Markets.

However, the growth of Virtual Reality Headset Market is hindered due to the requirement of high computing power and extensive amount of hardware.

The major players operating in the market are Sony Corporation, Sixense Enterprises, Carl Zeiss AG, Facebook Technologies, Microsoft, Razer Inc., Samsung Electronics Co., Ltd., LLC (Oculus), Google LLC, LG Electronics and HTC Corporation among others.

Product Type – Segment Analysis

Based on product type, the standalone segment is anticipated to grow at significant CAGR during the forecast period due to its cost-effective features and extensive involvement of leading players for developing application-oriented devices.

Application: Segment Analysis

Based on application, the gaming segment held the highest market share in 2020 and is expected to lead the market over the forecast period owing to increased manufacturing of gaming consoles and desktops across the globe.

Regional – Segment Analysis:

Based on region, the Asia-Pacific region is predicted to expand at a robust CAGR during the forecast period. The rapid expansion of gaming industry, increasing demand for virtual reality headsets in end-use industries, Government schemes for helping Augmented Reality and Virtual Reality based Startups and the penetration of smart phones, are some of the key factors supplementing the market growth in Asia-Pacific region. According to IBEF, the smartphone shipments in India increased to 23% YoY to reach more than 38 million units in the first quarter of2021.

Market Segmentation

Global Virtual Reality Headset Market by Product Type

  • Standalone
  • Smartphone-enabled
  • Standalone PC-connected

Global Virtual Reality Headset Market by Outlook

  • Gaming
  • Healthcare
  • Media & Entertainment
  • Manufacturing
  • Retail
  • Education
  • Telecommunications
  • Others

Global Virtual Reality Headset Market by Region

  • Asia Pacific
    • China
    • Japan
    • India
    • Rest of APAC
  • North America
    • United States of America
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Spain
    • Rest of Europe
  • RoW
    • Brazil
    • South Africa
    • Saudi Arabia
    • UAE

About GMI Research

GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.

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