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    Virtual Reality Market

    ID: 411
    102 Pages
    Research Team
    02/2020

    Virtual Reality Market Research Report: Information By Component (Hardware, Software), By Device Type (Head-Mounted Displays, Gesture Tracking Device, Projectors and Display Walls, 3D Cameras), By Technology (Non-Immersive, Semi-Immersive, Fully Immersive), By Vertical (Consumer Electronics, Aerospace and Defense, Healthcare, Commercial, Industrial) And By Region (North America, Europe, Asia-Pa...

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    Market Summary

    Virtual Reality Market Overview

    The Virtual Reality market size is projected to grow from USD 7.78 billion in 2024 to USD 53.01 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 27.10% during the forecast period (2024 - 2032). Additionally, the market size for Virtual Reality was valued at USD 5.91 billion in 2023.

    Increased adoption of VR technology and Proliferation of industry 4.0/5.0 to Impact the VR Market Growth Positively are the key market drivers enhancing the market growth.

    Figure1: Virtual Reality Market, 2018 - 2032 (USD Billion)

    Virtual Reality Market Overview1

    Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

    Virtual Reality Market Trends

    Wide Adoption of VR Technology is driving the market growth

    The virtual reality market is experiencing growth due to the increasing use of head-mounted displays in gaming and entertainment. Theme parks are incorporating VR technology, particularly in coaster rides, using animation techniques. Furthermore, the integration of 5G and advancements in fully immersive technology is driving market expansion. In healthcare, VR is applied for simulation, robotic surgery, and skills training, offering a safe environment for learning and acquiring new skills. Additionally, VR provides valuable insights into diagnostics, surpassing traditional methods and reducing the need for invasive procedures or surgeries. This factor drives the market CAGR.

    Additionally, industry 4.0 encompasses improved communication between devices and machines, combining machine-to-machine communication and the Internet of Things. Virtual reality enhances this interaction by providing immersive experiences and feedback mechanisms. The adoption of automation in manufacturing, particularly in developing regions, drives the growth of the virtual reality market. Industries such as healthcare and automotive are witnessing strong demand for VR. This presents future opportunities for firms, especially in emerging countries with high demand from manufacturing industries.Thus, driving the Virtual Reality Market revenue.

    Virtual Reality Market Segment Insights

    Virtual Reality (VR) Component Insights

    Based on components, the Virtual Reality Market segmentation includes hardware and software. The hardware segment dominates the Virtual Reality Market. This is because hardware components such as head-mounted displays, controllers, sensors, and tracking systems are essential for delivering immersive VR experiences. The demand for high-quality and technologically advanced hardware drives the dominance of this segment in the market. Additionally, the continuous innovation and improvement in VR hardware contribute to its leading position in the industry.

    Figure2: Virtual Reality Market, by Component, 2022 & 2032 (USD billion)

    Virtual Reality Market, by Component, 2022 & 2032

    Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

    Virtual Reality (VR) Device Type Insights

    Based on device type, the Virtual Reality Market segmentation includes head-mounted displays, gesture tracking devices, projectors and display walls, and 3D cameras. The head-mounted displays segment dominates the Virtual Reality Market. The head-mounted displays segment dominates the virtual reality market. This is because they provide a wide field of view and high-resolution visuals, enhancing the sense of presence in virtual environments. The increasing popularity of VR gaming and entertainment applications has driven the demand for HMDs, making them the dominant segment in the VR market. Additionally, advancements in HMD technology, such as improved display quality and comfort, further contribute to their market dominance.

    Virtual Reality (VR) Technology Insights

    Based on technology, the Virtual Reality Market segmentation includes non-immersive, semi-immersive, and fully immersive. The fully immersive segment dominates the Virtual Reality Market. Fully immersive VR technology provides users with a highly immersive and interactive experience by surrounding them with virtual environments.The ability to experience a sense of presence and interact with virtual objects and environments has made fully immersive VR highly popular in gaming, entertainment, training, and simulation applications.

    Virtual Reality (VR) Vertical Insights

    The Virtual Reality Market segmentation, based on vertical, includes consumer electronics, aerospace and defense, healthcare, commercial, and industrial. The consumer electronics segment dominates the Virtual Reality Market. VR technology has gained significant traction among consumers, driven by the demand for immersive gaming and entertainment experiences. Virtual reality headsets and devices have become more accessible and

    Virtual Reality (VR) Regional Insights

    By Region, the study provides market insights into North America, Europe, Asia-Pacific, and Rest of the World. The Asia-Pacific Virtual Reality Market area will dominate this market, The virtual technology industry in the region is driven by increasing investments in technology developments and the growing adoption of head-mounted displays (HMD) for simulation and training purposes. Moreover, China’s Virtual Reality Market held the largest market share, and the Indian Virtual Reality Market was the fastest-growing market in the Asia-Pacific region.

    Further, the major countries studiedin the market reportare The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

    Figure3: VIRTUAL REALITY MARKET SHARE BY REGION 2022 (%)

    VIRTUAL REALITY MARKET SHARE BY REGION 2022

    Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

    Europe's Virtual Reality market accounts for the second-largest market share due to thegrowing media & entertainment industry and increasing VR applications in the education and healthcare sectors. Further, the German Virtual Reality market held the largest market share, and the UK Virtual Reality market was the fastest-growing market in the European Region.

    North America is expected to grow fastest from 2023 to 2032. This is due tothe presence of many key players, including Google, Microsoft, Facebook Inc., and others, alongside the growing industrial sector drives virtual reality market trends.

    Virtual Reality (VR) Key Market Players & Competitive Insights

    Leading market players are investing heavily in research and development to expand their product lines, which will help the Virtual Reality market grow even more. Market participants are also undertaking various strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Virtual Reality (VR) industry must offer cost-effective items.

    Manufacturing locally to minimize operational costs is one of the key business tactics manufacturers use in the Virtual Reality (VR) industry to benefit clients and increase the market sector. The Virtual Reality (VR) industry has offered some of the most significant medical advantages in recent years. Major players in the Virtual Reality market, including Sony Corporation (Japan), Microsoft Corporation (US), Google LLC (US), Facebook Inc (US), Qualcomm Technologies Inc. (US), Samsung Electronics (South Korea) Sensics Inc. (US) Vuzix Corporation (US) Eon Reality Inc. (US)., and others, are attempting to increase market demand by investing in research and development operations.

    MyXR is a SaaS engagement software and solutions company that aims to engage, inform, empower, and entertain users through its scalable platforms.Recently, MYXR Inc. announced a strategic partnership with immersive solutions studio Theia Interactive. This partnership enables MYXR to create XR content for its new SaaS offerings. It enhances the quality of materials in their planned releases, including MYXR Engage 2.0x and the MYXR Experience Platform 3.0.

    Wrap Technologies (Nasdaq: WRAP) is a leading provider of innovative public safety technologies and services. They offer advanced technology and training solutions to empower public safety officials in effectively serving and protecting their communities. Recently, WRAP Technologies, Inc. announced the acquisition of NSENA Inc., a developer and provider of a law enforcement training platform using immersive virtual reality technology. This acquisition strengthens WRAP's presence in the virtual reality training market and complements their existing BolaWrap law enforcement training solution.

    Key CompaniesIn The Virtual Reality Market Include

    Virtual Reality (VR) Industry Developments

    In April 2023, Sony has introduced a measurement service and specialized software for their 360 Virtual Mixing Environment (360VME), a spatial sound technology for headphones. This technology allows creators to replicate multi-channel studio sound environments using headphones, enabling the production of high-quality spatial sound content from anywhere. Sony's 360VME improves VR audio, democratizes content creation, collaborates with studios, and introduces specialized hardware, enhancing immersion and VR market growth.

    In October 2022, Microsoft and Meta (formerly Facebook) have joined forces to integrate Microsoft's productivity tools, including Teams, into Meta's VR headsets. This partnership aims to create immersive collaborative experiences and contribute to Meta's broader metaverse vision.

    In May 2022, Google has acquired Raxium, a Bay Area startup specializing in microLED display tech for wearables and AR/VR headsets. The deal aims to bolster Google's hardware efforts. This move follows Google's 2020 acquisition of Canadian AR glasses company North and its ongoing efforts to develop an Augmented Reality OS and innovative AR devices.

    In March 2022, Qualcomm launched the Snapdragon Metaverse Fund. The fund is created for investing investing up to $100 million in XR experiences, AR, and AI technologies. This fund supports developers in gaming, health, entertainment, education, and enterprise to create immersive metaverse experiences.

    Virtual Reality Market Segmentation

    Virtual Reality (VR) Component Outlook

    • Hardware
    • Software

    Virtual Reality (VR) Device Type Outlook

    • Head-Mounted Displays
    • Gesture Tracking Device
    • Projectors and Display Walls
    • 3D Cameras

    Virtual Reality (VR) Technology Outlook

    • Non-Immersive
    • Semi-Immersive
    • Fully Immersive

    Virtual Reality (VR) Vertical Outlook

    • Consumer Electronics
    • Aerospace and Defense
    • Healthcare
    • Commercial
    • Industrial

    Virtual Reality (VR) Regional Outlook

    • North America

      • US

      • Canada

    • Europe

      • Germany

      • France

      • UK

      • Italy

      • Spain

      • Rest of Europe

    • Asia-Pacific

      • China

      • Japan

      • India

      • Australia

      • South Korea

      • Australia

      • Rest of Asia-Pacific

    • Rest of the World

      • Middle East

      • Africa

      • Latin America

    Market Size & Forecast

    Attribute/Metric Details
    Market Size 2023 USD 5.91 billion
    Market Size 2024 USD 7.78 billion
    Market Size 2032 USD 53.01 billion
    Compound Annual Growth Rate (CAGR) 27.10% (2024-2032)
    Base Year 2023
    Market Forecast Period 2024-2032
    Historical Data 2018- 2022
    Market Forecast Units Value (USD Billion)
    Report Coverage Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends
    Segments Covered Type, Distribution Channel, and Region
    Geographies Covered North America, Europe, AsiaPacific, and the Rest of the World
    Countries Covered The U.S., Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil
    Key Companies Profiled Sony Corporation (Japan) Microsoft Corporation (US) Google LLC (US) Facebook Inc (US) Qualcomm Technologies Inc. (US) Samsung Electronics (South Korea) Sensics Inc. (US) Vuzix Corporation (US) Eon Reality Inc. (US)
    Key Market Opportunities Proliferation of Industry 4.0/ 5.0 to Impact the VR Market Growth Positively
    Key Market Dynamics Wide Adoption of VR Technology Drives the Market Growth

    Major Players

    Virtual Reality Market Segmentation

    Virtual Reality (VR) Component Outlook (USD Billion, 2018-2032)

    • Hardware

    • Software

    Virtual Reality (VR) Device Technology Outlook (USD Billion, 2018-2032)

    • Head-Mounted Displays

    • Gesture Tracking Device

    • Projectors and Display Walls

    • 3D Cameras

    Virtual Reality (VR) Technology Outlook (USD Billion, 2018-2032)

    • Non-Immersive

    • Semi-Immersive

    • Fully Immersive

    Virtual Reality (VR) Vertical Outlook (USD Billion, 2018-2032)

    • Consumer Electronics

    • Aerospace and Defense

    • Healthcare

    • Commercial

    • Industrial

    Virtual Reality (VR) Regional Outlook (USD Billion, 2018-2032)

    • North AmericaOutlook (USD Billion, 2018-2032)

      • North America Virtual Reality (VR) by Component

        • Hardware

        • Software

      • North America Virtual Reality (VR) by Device Technology

        • Head-Mounted Displays

        • Gesture Tracking Device

        • Projectors and Display Walls

        • 3D Cameras

      • North America Virtual Reality (VR) by Technology

    • Non-Immersive

    • Semi-Immersive

    • Fully Immersive

    • North America Virtual Reality (VR) by Vertical

    • Consumer Electronics

    • Aerospace and Defense

    • Healthcare

    • Commercial

    • Industrial

      • US Outlook (USD Billion, 2018-2032)

      • US Virtual Reality (VR) by Component

        • Hardware

        • Software

      • US Virtual Reality (VR) by Device Technology

        • Head-Mounted Displays

        • Gesture Tracking Device

        • Projectors and Display Walls

        • 3D Cameras

      • US Virtual Reality (VR) by Technology

    • Non-Immersive

    • Semi-Immersive

    • Fully Immersive

    • US Virtual Reality (VR) by Vertical

    • Consumer Electronics

    • Aerospace and Defense

    • Healthcare

    • Commercial

    • Industrial

      • CANADA Outlook (USD Billion, 2018-2032)

      • CANADA Virtual Reality (VR) by Component

        • Hardware

        • Software

      • CANADA Virtual Reality (VR) by Device Technology

        • Head-Mounted Displays

        • Gesture Tracking Device

        • Projectors and Display Walls

        • 3D Cameras

      • CANADA Virtual Reality (VR) by Technology

    • Non-Immersive

    • Semi-Immersive

    • Fully Immersive

    • CANADA Virtual Reality (VR) by Vertical

    • Consumer Electronics

    • Aerospace and Defense

    • Healthcare

    • Commercial

    • Industrial

    • Europe Outlook (USD Billion, 2018-2032)

      • Europe Virtual Reality (VR) by Component

        • Hardware

        • Software

      • Europe Virtual Reality (VR) by Device Technology

        • Head-Mounted Displays

        • Gesture Tracking Device

        • Projectors and Display Walls

        • 3D Cameras

      • Europe Virtual Reality (VR) by Technology

    • Non-Immersive

    • Semi-Immersive

    • Fully Immersive

    • Europe Virtual Reality (VR) by Vertical

    • Consumer Electronics

    • On-Premise

    • Healthcare

    • Commercial

    • Industrial

      • Germany Outlook (USD Billion, 2018-2032)

      • Germany Virtual Reality (VR) by Component

        • Hardware

        • Software

      • Germany Virtual Reality (VR) by Device Technology

        • Head-Mounted Displays

        • Gesture Tracking Device

        • Projectors and Display Walls

        • 3D Cameras

      • Germany Virtual Reality (VR) by Technology

    • Non-Immersive

    • Semi-Immersive

    • Fully Immersive

    • Germany Virtual Reality (VR) by Vertical

    • Consumer Electronics

    • Aerospace and Defense

    • Healthcare

    • Commercial

    • Industrial

      • France Outlook (USD Billion, 2018-2032)

      • France Virtual Reality (VR) by Component

        • Hardware

        • Software

      • France Virtual Reality (VR) by Device Technology

        • Head-Mounted Displays

        • Gesture Tracking Device

        • Projectors and Display Walls

        • 3D Cameras

      • France Virtual Reality (VR) by Technology

    • Non-Immersive

    • Semi-Immersive

    • Fully Immersive

    • France Virtual Reality (VR) by Vertical

    • Consumer Electronics

    • Aerospace and Defense

    • Healthcare

    • Commercial

    • Industrial

      • UK Outlook (USD Billion, 2018-2032)

      • UK Virtual Reality (VR) by Component

        • Hardware

        • Software

      • UK Virtual Reality (VR) by Device Technology

        • Head-Mounted Displays

        • Gesture Tracking Device

        • Projectors and Display Walls

        • 3D Cameras

      • UK Virtual Reality (VR) by Technology

    • Non-Immersive

    • Semi-Immersive

    • Fully Immersive

    • UK Virtual Reality (VR) by Vertical

    • Consumer Electronics

    • Aerospace and Defense

    • Healthcare

    • Commercial

    • Industrial

      • ITALY Outlook (USD Billion, 2018-2032)

      • ITALY Virtual Reality (VR) by Component

        • Hardware

        • Software

      • ITALY Virtual Reality (VR) by Device Technology

        • Head-Mounted Displays

        • Gesture Tracking Device

        • Projectors and Display Walls

        • 3D Cameras

      • ITALY Virtual Reality (VR) by Technology

    • Non-Immersive

    • Semi-Immersive

    • Fully Immersive

    • ITALY Virtual Reality (VR) by Vertical

    • Consumer Electronics

    • Aerospace and Defense

    • Healthcare

    • Commercial

    • Industrial

      • SPAIN Outlook (USD Billion, 2018-2032)

      • Spain Virtual Reality (VR) by Component

        • Hardware

        • Software

      • Spain Virtual Reality (VR) by Device Technology

        • Head-Mounted Displays

        • Gesture Tracking Device

        • Projectors and Display Walls

        • 3D Cameras

      • Spain Virtual Reality (VR) by Technology

    • Non-Immersive

    • Semi-Immersive

    • Fully Immersive

    • Spain Virtual Reality (VR) by Vertical

    • Consumer Electronics

    • Aerospace and Defense

    • Healthcare

    • Commercial

    • Industrial

    • Rest Of Europe Outlook (USD Billion, 2018-2032)

      • Rest Of Europe Virtual Reality (VR) by Component

        • Hardware

        • Software

      • REST OF EUROPE Virtual Reality (VR) by Device Technology

        • Head-Mounted Displays

        • Gesture Tracking Device

        • Projectors and Display Walls

        • 3D Cameras

      • REST OF EUROPE Virtual Reality (VR) by Technology

    • Non-Immersive

    • Semi-Immersive

    • Fully Immersive

    • REST OF EUROPE Virtual Reality (VR) by Vertical

    • Consumer Electronics

    • Aerospace and Defense

    • Healthcare

    • Commercial

    • Industrial

    • Asia-Pacific Outlook (USD Billion, 2018-2032)

      • Asia-Pacific Virtual Reality (VR) by Component

        • Hardware

        • Software

      • Asia-Pacific Virtual Reality (VR) by Device Technology

        • Head-Mounted Displays

        • Gesture Tracking Device

        • Projectors and Display Walls

        • 3D Cameras

      • Asia-Pacific Virtual Reality (VR) by Technology

    • Non-Immersive

    • Semi-Immersive

    • Fully Immersive

    • Asia-Pacific Virtual Reality (VR) by Vertical

    • Consumer Electronics

    • On-Premise

    • Healthcare

    • Commercial

    • Industrial

      • China Outlook (USD Billion, 2018-2032)

      • China Virtual Reality (VR) by Component

        • Hardware

        • Software

      • China Virtual Reality (VR) by Device Technology

        • Head-Mounted Displays

        • Gesture Tracking Device

        • Projectors and Display Walls

        • 3D Cameras

      • China Virtual Reality (VR) by Technology

    • Non-Immersive

    • Semi-Immersive

    • Fully Immersive

    • China Virtual Reality (VR) by Vertical

    • Consumer Electronics

    • Aerospace and Defense

    • Healthcare

    • Commercial

    • Industrial

      • Japan Outlook (USD Billion, 2018-2032)

      • Japan Virtual Reality (VR) by Component

        • Hardware

        • Software

      • Japan Virtual Reality (VR) by Device Technology

        • Head-Mounted Displays

        • Gesture Tracking Device

        • Projectors and Display Walls

        • 3D Cameras

      • Japan Virtual Reality (VR) by Technology

    • Non-Immersive

    • Semi-Immersive

    • Fully Immersive

    • Japan Virtual Reality (VR) by Vertical

    • Consumer Electronics

    • Aerospace and Defense

    • Healthcare

    • Commercial

    • Industrial

      • India Outlook (USD Billion, 2018-2032)

      • India Virtual Reality (VR) by Component

        • Hardware

        • Software

      • India Virtual Reality (VR) by Device Technology

        • Head-Mounted Displays

        • Gesture Tracking Device

        • Projectors and Display Walls

        • 3D Cameras

      • India Virtual Reality (VR) by Technology

    • Non-Immersive

    • Semi-Immersive

    • Fully Immersive

    • India Virtual Reality (VR) by Vertical

    • Consumer Electronics

    • Aerospace and Defense

    • Healthcare

    • Commercial

    • Industrial

      • Australia Outlook (USD Billion, 2018-2032)

      • Australia Virtual Reality (VR) by Component

        • Hardware

        • Software

      • Australia Virtual Reality (VR) by Device Technology

        • Head-Mounted Displays

        • Gesture Tracking Device

        • Projectors and Display Walls

        • 3D Cameras

      • Australia Virtual Reality (VR) by Technology

    • Non-Immersive

    • Semi-Immersive

    • Fully Immersive

    • Australia Virtual Reality (VR) by Vertical

    • Consumer Electronics

    • Aerospace and Defense

    • Healthcare

    • Commercial

    • Industrial

    • Rest of Asia-Pacific Outlook (USD Billion, 2018-2032)

      • Rest of Asia-Pacific Virtual Reality (VR) by Component

        • Hardware

        • Software

      • Rest of Asia-Pacific Virtual Reality (VR) by Device Technology

        • Head-Mounted Displays

        • Gesture Tracking Device

        • Projectors and Display Walls

        • 3D Cameras

      • Rest of Asia-Pacific Virtual Reality (VR) by Technology

    • Non-Immersive

    • Semi-Immersive

    • Fully Immersive

    • Rest of Asia-Pacific Virtual Reality (VR) by Vertical

    • Consumer Electronics

    • Aerospace and Defense

    • Healthcare

    • Commercial

    • Industrial

    • Rest of the World Outlook (USD Billion, 2018-2032)

      • Rest of the World Virtual Reality (VR) by Component

        • Hardware

        • Software

      • Rest of the World Virtual Reality (VR) by Device Technology

        • Head-Mounted Displays

        • Gesture Tracking Device

        • Projectors and Display Walls

        • 3D Cameras

      • Rest of the World Virtual Reality (VR) by Technology

    • Non-Immersive

    • Semi-Immersive

    • Fully Immersive

    • Rest of the World Virtual Reality (VR) by Vertical

    • Consumer Electronics

    • Aerospace and Defense

    • Healthcare

    • Commercial

    • Industrial

      • Middle East Outlook (USD Billion, 2018-2032)

      • Middle East Virtual Reality (VR) by Component

        • Hardware

        • Software

      • Middle East Virtual Reality (VR) by Device Technology

        • Head-Mounted Displays

        • Gesture Tracking Device

        • Projectors and Display Walls

        • 3D Cameras

      • Middle East Virtual Reality (VR) by Technology

    • Non-Immersive

    • Semi-Immersive

    • Fully Immersive

    • Middle East Virtual Reality (VR) by Vertical

    • Consumer Electronics

    • On-Premise

    • Healthcare

    • Commercial

    • Industrial

      • Africa Outlook (USD Billion, 2018-2032)

      • Africa Virtual Reality (VR) by Component

        • Hardware

        • Software

      • Africa Virtual Reality (VR) by Device Technology

        • Head-Mounted Displays

        • Gesture Tracking Device

        • Projectors and Display Walls

        • 3D Cameras

      • Africa Virtual Reality (VR) by Technology

    • Non-Immersive

    • Semi-Immersive

    • Fully Immersive

    • Africa Virtual Reality (VR) by Vertical

    • Consumer Electronics

    • Aerospace and Defense

    • Healthcare

    • Commercial

    • Industrial

      • Latin America Outlook (USD Billion, 2018-2032)

      • Latin America Virtual Reality (VR) by Component

        • Hardware

        • Software

      • Latin America Virtual Reality (VR) by Device Technology

        • Head-Mounted Displays

        • Gesture Tracking Device

        • Projectors and Display Walls

        • 3D Cameras

      • Latin Virtual Reality (VR) by Technology

    • Non-Immersive

    • Semi-Immersive

    • Fully Immersive

    • Latin Virtual Reality (VR) by Vertical

    • Consumer Electronics

    • Aerospace and Defense

    • Healthcare

    • Commercial

    • Industrial

    Market Trends

    Virtual Reality Market Overview

    The Virtual Reality market size is projected to grow from USD 7.78 billion in 2024 to USD 53.01 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 27.10% during the forecast period (2024 - 2032). Additionally, the market size for Virtual Reality was valued at USD 5.91 billion in 2023.

    Increased adoption of VR technology and Proliferation of industry 4.0/5.0 to Impact the VR Market Growth Positively are the key market drivers enhancing the market growth.

    Figure1: Virtual Reality Market, 2018 - 2032 (USD Billion)

    Virtual Reality Market Overview1

    Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

    Virtual Reality Market Trends

    Wide Adoption of VR Technology is driving the market growth

    The virtual reality market is experiencing growth due to the increasing use of head-mounted displays in gaming and entertainment. Theme parks are incorporating VR technology, particularly in coaster rides, using animation techniques. Furthermore, the integration of 5G and advancements in fully immersive technology is driving market expansion. In healthcare, VR is applied for simulation, robotic surgery...

    Market Segment Insights

    Smartphone Sensors Smartphone Type Insights

    The Smartphone Sensors market segmentation, based on smartphone type, includes standard smartphone, rugged smartphone, smartwatches, and other wearable. The standard smartphone segment dominated the market, accounting for the maximum market revenue. A smartphone is a mobile phone with a built-in computer and advanced features, such as web browsing and operating system, which are not associated with its counterpart. The rising mobile internet use, rising disposable income in developing countries, and high ownership of premium design smartphones are a few factors that are anticipated to grow smartphone sales. Smartphones are helped by a mobile operating system that offers advanced computing facilities. A smartphone can also work as a digital media player for uploading photos, videos, and music through a single interface.

    Smartphone Sensors Market, By Device Type Outlook, 2024 & 2035
    Get detailed insights about Virtual Reality Market

    Smartphone Sensors Manufacturer Insights

    The Smartphone Sensors market segmentation, based on the manufacturer, includes Apple Inc., Samsung Electronics, Huawei Technology, Xiaomi Inc., Oppo, Sony Corporation, HMD Global, and others. The Apple Inc. segment generated the most revenue due to its superior quality. Apple’s iPhone stands out over all other smartphones in the market. Apple Inc. is the market leader because they use more sensors in their devices to provide unique features. For Instance: Apple’s iPhone 12 uses a lidar for depth sensing, proximity for 3D touch, a gyroscope for compass, GPS, face ID for biometrics, auto-off, a barometer, a magnetometer for compass & GPS, and an ambient light sensor for auto-dimming displays. The better user experience, increased accessibility, and more security these sensors offer consumers to boost the segment‘s growth.

    Smartphone Sensors Application Insights

    The Smartphone Sensors market segmentation, based on the manufacturer, includes Apple Inc., Samsung Electronics, Huawei Technology, Xiaomi Inc., Oppo, Sony Corporation, HMD Global, and others. The Apple Inc. segment generated the most revenue due to its superior quality. Apple’s iPhone stands out over all other smartphones in the market. Apple Inc. is the market leader because they use more sensors in their devices to provide unique features. For Instance: Apple’s iPhone 12 uses a lidar for depth sensing, proximity for 3D touch, a gyroscope for compass, GPS, face ID for biometrics, auto-off, a barometer, a magnetometer for compass & GPS, and an ambient light sensor for auto-dimming displays. The better user experience, increased accessibility, and more security these sensors offer consumers to boost the segment‘s growth.

    Smartphone Sensors Regional Insights

    The Smartphone Sensors market segmentation, based on the manufacturer, includes Apple Inc., Samsung Electronics, Huawei Technology, Xiaomi Inc., Oppo, Sony Corporation, HMD Global, and others. The Apple Inc. segment generated the most revenue due to its superior quality. Apple’s iPhone stands out over all other smartphones in the market. Apple Inc. is the market leader because they use more sensors in their devices to provide unique features. For Instance: Apple’s iPhone 12 uses a lidar for depth sensing, proximity for 3D touch, a gyroscope for compass, GPS, face ID for biometrics, auto-off, a barometer, a magnetometer for compass & GPS, and an ambient light sensor for auto-dimming displays. The better user experience, increased accessibility, and more security these sensors offer consumers to boost the segment‘s growth.

    Smartphone Sensors Market, By Device Type Outlook, 2024 & 2035
    Get detailed insights about Smartphone Sensors Market

    Smartphone Sensors Price Insights

    The Smartphone Sensors market segmentation, based on price, includes USD 300 to USD 500, USD 100 to USD 300, above USD 500, and under USD 100. The USD 300 to USD 500 segment dominated the market revenue in the projected period. Most smartphones sold in medium-end devices have a sensor within this range. For instance: Nubia launched a new flagship Android device powered by the latest Snapdragon 8Gen 2CPU. The OEM has also specified that this gadget, which peculiarly seems to go by the name Z50 even though its processor was the z40 Pro, will compete with the Xiaomi 13 and iQOO11 series with cutting-edge LPDDR5X RAM and storage with the most recent UFS 4.0 spec.

    Get more detailed insights about Virtual Reality Market

    Key Players and Competitive Insights

    Leading market players are investing heavily in research and development to expand their product lines, which will help the Smartphone Sensors market, grow even more. Market participants are also undertaking various strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and growing market climate, the Smartphone Sensors industry must offer cost-effective items.

    Manufacturing locally to minimize operational costs is one of the key business tactics manufacturers use in the Smartphone Sensors industry to benefit clients and increase the market sector. In recent years, the Smartphone Sensors industry has offered manufacturers some of the most significant advantages. Major players in the Smartphone Sensors market, including MS AG (Austria), Broadcom Inc. (US), DYNA IMAGE Corporation (China), Murata Electronics Oy (Finland), NEXT Biometrics Group ASA (Norway), Omron Corporation (Japan), Samsung Electronics Co. Ltd. (South Korea), Sony Corporation (Japan)., and others, are attempting to increase market demand by investing in research and development operations.

    Samsung is dedicated to abiding by local laws and regulations and enforcing a strict code of conduct for all employees. Samsung adheres to a straightforward business tent: to usage its technology and expertise to develop top-notch goods and services that make a more cultured world. Samsung provides a high importance on its people and technologies to do this. For Instance: In January 2023, Samsung Electronics launched its new MICRO LED, Neo QLED, and Samsung OLED product lines, along with lifestyle products and accessories, before CES® 2023.

    Apple Inc. is a multinational American technology business with its main office in Cupertino, California. According to revenue, Apple will be the top technological business in the world in 2022, with US $ 394.3 billion in sales. According to market capitalization, Apple is the largest corporation in the world as of March 2023. For Instance: In September 2022, the iPhone 14 and iPhone 14 Plus, which come in two sizes, 6.1 and 6.7 inches and include a smart design, camera upgrades, and game-changing new safety measures, were introduced by Apple. The iPhone 14 and iPhone 14 Plus have a powerful camera system that incorporates the primary and front TrueDepth cameras, the Ultra Wide camera for uncommon perspectives, and the photonic engine, an enhanced picture pipeline.

    Key Companies in the Smartphone Sensors market include

    MS AG (Austria)
    MS AG (Austria)
    MS AG (Austria)
    MS AG (Austria)
    MS AG (Austria)
    MS AG (Austria)
    MS AG (Austria)

    Industry Developments

    • September 2022: Comcast and Samsung Electronics announced their partnership to create 5G Radio Access Network (RAN) technologies to enhance 5G connection for Xfinity Mobile and Comcast Business Mobile users in Comcast service zones. Samsung will provide 5G RAN technology, and Comcast will deploy Citizens Broadband Radio Service (CBRS) and 600 MHz spectrum to provide 5G access to consumer and business users in the US.
    • October 2022: Huawei announced the release of the newest antenna solutions, including the Maxwell platform and the X2 antenna series, for the subsequent 5G antenna innovation stage. The new technologies speed up 5G deployment by improving antenna and setup capabilities.

    Market Segmentation

    Smartphone Type Outlook

    • Standard Smartphone
    • Rugged Smartphone
    • Smartwatches
    • Other Wearable

    Price Outlook

    • USD 300 to USD 500
    • USD 100 to USD 300
    • Above USD 500
    • Under USD 100

    Manufacturer Outlook

    • Apple Inc.
    • Samsung Electronics
    • Huawei Technology
    • Xiaomi Inc.
    • Oppo
    • Sony Corporation
    • HMD Global

    Application Outlook

    • High-Level
    • Mid-Level
    • Low-Level

    Manufacturer Outlook

    North America
    • US
    • Canada
    Europe
    • Germany
    • France
    • UK
    • Italy
    • Spain
    • Rest of Europe
    Asia-Pacific
    • China
    • Japan
    • India
    • Italy
    • Australia
    • South Korea
    • Rest of Asia-Pacific
    Rest of the World
    • Middle East
    • Africa
    • Latin America

    Report Scope

    Attribute/Metric Details
    Market Size 2023 USD 5.91 billion
    Market Size 2024 USD 7.78 billion
    Market Size 2032 USD 53.01 billion
    Compound Annual Growth Rate (CAGR) 27.10% (2024-2032)
    Base Year 2023
    Market Forecast Period 2024-2032
    Historical Data 2018- 2022
    Market Forecast Units Value (USD Billion)
    Report Coverage Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends
    Segments Covered Type, Distribution Channel, and Region
    Geographies Covered North America, Europe, AsiaPacific, and the Rest of the World
    Countries Covered The U.S., Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil
    Key Companies Profiled Sony Corporation (Japan) Microsoft Corporation (US) Google LLC (US) Facebook Inc (US) Qualcomm Technologies Inc. (US) Samsung Electronics (South Korea) Sensics Inc. (US) Vuzix Corporation (US) Eon Reality Inc. (US)
    Key Market Opportunities Proliferation of Industry 4.0/ 5.0 to Impact the VR Market Growth Positively
    Key Market Dynamics Wide Adoption of VR Technology Drives the Market Growth

    Market Highlights

    Author

    Aarti Dhapte
    Team Lead - Research

    She holds an experience of about 6+ years in market research and business consulting, working under the spectrum of information communication technology, telecommunications and semiconductor domains. aarti conceptualizes and implements a scalable business strategy and provides strategic leadership to the clients. her expertise lies in market estimation, competitive intelligence, pipeline analysis, customer assessment, etc.

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    FAQs

    What is the estimated CAGR for the virtual reality market?

    The virtual reality market is expected to expand at 37.4% CAGR between 2017 and 2027.

    Which sector is the highest end-user of virtual reality?

    The gaming and the entertainment industries are highest end-users of virtual reality.

    Which renowned companies are virtual reality solution providers?

    Microsoft Corporation (US), Google LLC (US), and Sony Corporation (Japan) are some well-known virtual reality solution providers.

    Which region is expected to show highest virtual reality market growth?

    The virtual reality market in North America is expected to thrive at a 36.78% CAGR and value at USD 1.4 billion by 2027.

    What are virtual reality trends?

    One of the ongoing trend of virtual reality is its exploitation in the field of education, and travel and tourism.

    1. REST OF ASIA-PACIFIC: VIRTUAL REALITY MARKET, BY TECHNOLOGY, 2023-2032 (USD BILLION)</span>
    2. REST OF ASIA-PACIFIC:VIRTUAL REALITY MARKET, BY VERTICAL, 2023-2032 (USD BILLION)</span>
    3. REST OF THE WORLD: VIRTUAL REALITY MARKET BY COMPONENT, 2023-2032 (USD BILLION)</span>
    4. REST OF THE WORLD (ROW): VIRTUAL REALITY MARKET BY DEVICE TYPE, 2023-2032 (USD
    5. REST OF THE WORLD (ROW): VIRTUAL REALITY MARKET BY VERTICAL, 2023-2032 (USD BILLION)</span>
    6. GLOBAL VIRTUAL REALITY KEY PLAYERS MARKET SHARE, 2016 (%)</span>

    Virtual Reality Market Segmentation

    Virtual Reality (VR) Component Outlook (USD Billion, 2018-2032)

    • Hardware
    • Software

    Virtual Reality (VR) Device Technology Outlook (USD Billion, 2018-2032)

    • Head-Mounted Displays
    • Gesture Tracking Device
    • Projectors and Display Walls
    • 3D Cameras

    Virtual Reality (VR) Technology Outlook (USD Billion, 2018-2032)

    • Non-Immersive
    • Semi-Immersive
    • Fully Immersive

    Virtual Reality (VR) Vertical Outlook (USD Billion, 2018-2032)

    • Consumer Electronics
    • Aerospace and Defense
    • Healthcare
    • Commercial
    • Industrial

    Virtual Reality (VR) Regional Outlook (USD Billion, 2018-2032)

    • North AmericaOutlook (USD Billion, 2018-2032)

      • North America Virtual Reality (VR) by Component
        • Hardware
        • Software
      • North America Virtual Reality (VR) by Device Technology
        • Head-Mounted Displays
        • Gesture Tracking Device
        • Projectors and Display Walls
        • 3D Cameras
      • North America Virtual Reality (VR) by Technology
    • Non-Immersive
    • Semi-Immersive
    • Fully Immersive
    • North America Virtual Reality (VR) by Vertical
    • Consumer Electronics
    • Aerospace and Defense
    • Healthcare
    • Commercial
    • Industrial

      • US Outlook (USD Billion, 2018-2032)

      • US Virtual Reality (VR) by Component
        • Hardware
        • Software

      • US Virtual Reality (VR) by Device Technology

        • Head-Mounted Displays
        • Gesture Tracking Device
        • Projectors and Display Walls
        • 3D Cameras
      • US Virtual Reality (VR) by Technology
    • Non-Immersive
    • Semi-Immersive
    • Fully Immersive
    • US Virtual Reality (VR) by Vertical
    • Consumer Electronics
    • Aerospace and Defense
    • Healthcare
    • Commercial
    • Industrial

      • CANADA Outlook (USD Billion, 2018-2032)

      • CANADA Virtual Reality (VR) by Component
        • Hardware
        • Software

      • CANADA Virtual Reality (VR) by Device Technology

        • Head-Mounted Displays
        • Gesture Tracking Device
        • Projectors and Display Walls
        • 3D Cameras
      • CANADA Virtual Reality (VR) by Technology
    • Non-Immersive
    • Semi-Immersive
    • Fully Immersive
    • CANADA Virtual Reality (VR) by Vertical
    • Consumer Electronics
    • Aerospace and Defense
    • Healthcare
    • Commercial
    • Industrial

    • Europe Outlook (USD Billion, 2018-2032)

      • Europe Virtual Reality (VR) by Component
        • Hardware
        • Software
      • Europe Virtual Reality (VR) by Device Technology
        • Head-Mounted Displays
        • Gesture Tracking Device
        • Projectors and Display Walls
        • 3D Cameras
      • Europe Virtual Reality (VR) by Technology
    • Non-Immersive
    • Semi-Immersive
    • Fully Immersive
    • Europe Virtual Reality (VR) by Vertical
    • Consumer Electronics
    • On-Premise
    • Healthcare
    • Commercial
    • Industrial

      • Germany Outlook (USD Billion, 2018-2032)

      • Germany Virtual Reality (VR) by Component
        • Hardware
        • Software
      • Germany Virtual Reality (VR) by Device Technology
        • Head-Mounted Displays
        • Gesture Tracking Device
        • Projectors and Display Walls
        • 3D Cameras
      • Germany Virtual Reality (VR) by Technology
    • Non-Immersive
    • Semi-Immersive
    • Fully Immersive
    • Germany Virtual Reality (VR) by Vertical
    • Consumer Electronics
    • Aerospace and Defense
    • Healthcare
    • Commercial
    • Industrial

      • France Outlook (USD Billion, 2018-2032)

      • France Virtual Reality (VR) by Component
        • Hardware
        • Software

      • France Virtual Reality (VR) by Device Technology

        • Head-Mounted Displays
        • Gesture Tracking Device
        • Projectors and Display Walls
        • 3D Cameras
      • France Virtual Reality (VR) by Technology
    • Non-Immersive
    • Semi-Immersive
    • Fully Immersive
    • France Virtual Reality (VR) by Vertical
    • Consumer Electronics
    • Aerospace and Defense
    • Healthcare
    • Commercial
    • Industrial

      • UK Outlook (USD Billion, 2018-2032)

      • UK Virtual Reality (VR) by Component
        • Hardware
        • Software
      • UK Virtual Reality (VR) by Device Technology
        • Head-Mounted Displays
        • Gesture Tracking Device
        • Projectors and Display Walls
        • 3D Cameras
      • UK Virtual Reality (VR) by Technology
    • Non-Immersive
    • Semi-Immersive
    • Fully Immersive
    • UK Virtual Reality (VR) by Vertical
    • Consumer Electronics
    • Aerospace and Defense
    • Healthcare
    • Commercial
    • Industrial

      • ITALY Outlook (USD Billion, 2018-2032)

      • ITALY Virtual Reality (VR) by Component
        • Hardware
        • Software

      • ITALY Virtual Reality (VR) by Device Technology

        • Head-Mounted Displays
        • Gesture Tracking Device
        • Projectors and Display Walls
        • 3D Cameras
      • ITALY Virtual Reality (VR) by Technology
    • Non-Immersive
    • Semi-Immersive
    • Fully Immersive
    • ITALY Virtual Reality (VR) by Vertical
    • Consumer Electronics
    • Aerospace and Defense
    • Healthcare
    • Commercial
    • Industrial

      • SPAIN Outlook (USD Billion, 2018-2032)

      • Spain Virtual Reality (VR) by Component
        • Hardware
        • Software
      • Spain Virtual Reality (VR) by Device Technology
        • Head-Mounted Displays
        • Gesture Tracking Device
        • Projectors and Display Walls
        • 3D Cameras
      • Spain Virtual Reality (VR) by Technology
    • Non-Immersive
    • Semi-Immersive
    • Fully Immersive
    • Spain Virtual Reality (VR) by Vertical
    • Consumer Electronics
    • Aerospace and Defense
    • Healthcare
    • Commercial
    • Industrial

    • Rest Of Europe Outlook (USD Billion, 2018-2032)

      • Rest Of Europe Virtual Reality (VR) by Component
        • Hardware
        • Software

      • REST OF EUROPE Virtual Reality (VR) by Device Technology

        • Head-Mounted Displays
        • Gesture Tracking Device
        • Projectors and Display Walls
        • 3D Cameras
      • REST OF EUROPE Virtual Reality (VR) by Technology
    • Non-Immersive
    • Semi-Immersive
    • Fully Immersive
    • REST OF EUROPE Virtual Reality (VR) by Vertical
    • Consumer Electronics
    • Aerospace and Defense
    • Healthcare
    • Commercial
    • Industrial

    • Asia-Pacific Outlook (USD Billion, 2018-2032)

      • Asia-Pacific Virtual Reality (VR) by Component
        • Hardware
        • Software

      • Asia-Pacific Virtual Reality (VR) by Device Technology

        • Head-Mounted Displays
        • Gesture Tracking Device
        • Projectors and Display Walls
        • 3D Cameras
      • Asia-Pacific Virtual Reality (VR) by Technology
    • Non-Immersive
    • Semi-Immersive
    • Fully Immersive
    • Asia-Pacific Virtual Reality (VR) by Vertical
    • Consumer Electronics
    • On-Premise
    • Healthcare
    • Commercial
    • Industrial

      • China Outlook (USD Billion, 2018-2032)

      • China Virtual Reality (VR) by Component
        • Hardware
        • Software
      • China Virtual Reality (VR) by Device Technology
        • Head-Mounted Displays
        • Gesture Tracking Device
        • Projectors and Display Walls
        • 3D Cameras
      • China Virtual Reality (VR) by Technology
    • Non-Immersive
    • Semi-Immersive
    • Fully Immersive
    • China Virtual Reality (VR) by Vertical
    • Consumer Electronics
    • Aerospace and Defense
    • Healthcare
    • Commercial
    • Industrial

      • Japan Outlook (USD Billion, 2018-2032)

      • Japan Virtual Reality (VR) by Component
        • Hardware
        • Software
      • Japan Virtual Reality (VR) by Device Technology
        • Head-Mounted Displays
        • Gesture Tracking Device
        • Projectors and Display Walls
        • 3D Cameras
      • Japan Virtual Reality (VR) by Technology
    • Non-Immersive
    • Semi-Immersive
    • Fully Immersive
    • Japan Virtual Reality (VR) by Vertical
    • Consumer Electronics
    • Aerospace and Defense
    • Healthcare
    • Commercial
    • Industrial

      • India Outlook (USD Billion, 2018-2032)

      • India Virtual Reality (VR) by Component
        • Hardware
        • Software

      • India Virtual Reality (VR) by Device Technology

        • Head-Mounted Displays
        • Gesture Tracking Device
        • Projectors and Display Walls
        • 3D Cameras
      • India Virtual Reality (VR) by Technology
    • Non-Immersive
    • Semi-Immersive
    • Fully Immersive
    • India Virtual Reality (VR) by Vertical
    • Consumer Electronics
    • Aerospace and Defense
    • Healthcare
    • Commercial
    • Industrial

      • Australia Outlook (USD Billion, 2018-2032)

      • Australia Virtual Reality (VR) by Component
        • Hardware
        • Software

      • Australia Virtual Reality (VR) by Device Technology

        • Head-Mounted Displays
        • Gesture Tracking Device
        • Projectors and Display Walls
        • 3D Cameras
      • Australia Virtual Reality (VR) by Technology
    • Non-Immersive
    • Semi-Immersive
    • Fully Immersive
    • Australia Virtual Reality (VR) by Vertical
    • Consumer Electronics
    • Aerospace and Defense
    • Healthcare
    • Commercial
    • Industrial

    • Rest of Asia-Pacific Outlook (USD Billion, 2018-2032)

      • Rest of Asia-Pacific Virtual Reality (VR) by Component
        • Hardware
        • Software
      • Rest of Asia-Pacific Virtual Reality (VR) by Device Technology
        • Head-Mounted Displays
        • Gesture Tracking Device
        • Projectors and Display Walls
        • 3D Cameras
      • Rest of Asia-Pacific Virtual Reality (VR) by Technology
    • Non-Immersive
    • Semi-Immersive
    • Fully Immersive
    • Rest of Asia-Pacific Virtual Reality (VR) by Vertical
    • Consumer Electronics
    • Aerospace and Defense
    • Healthcare
    • Commercial
    • Industrial

    • Rest of the World Outlook (USD Billion, 2018-2032)

      • Rest of the World Virtual Reality (VR) by Component
        • Hardware
        • Software

      • Rest of the World Virtual Reality (VR) by Device Technology

        • Head-Mounted Displays
        • Gesture Tracking Device
        • Projectors and Display Walls
        • 3D Cameras
      • Rest of the World Virtual Reality (VR) by Technology
    • Non-Immersive
    • Semi-Immersive
    • Fully Immersive
    • Rest of the World Virtual Reality (VR) by Vertical
    • Consumer Electronics
    • Aerospace and Defense
    • Healthcare
    • Commercial
    • Industrial

      • Middle East Outlook (USD Billion, 2018-2032)

      • Middle East Virtual Reality (VR) by Component
        • Hardware
        • Software

      • Middle East Virtual Reality (VR) by Device Technology

        • Head-Mounted Displays
        • Gesture Tracking Device
        • Projectors and Display Walls
        • 3D Cameras
      • Middle East Virtual Reality (VR) by Technology
    • Non-Immersive
    • Semi-Immersive
    • Fully Immersive
    • Middle East Virtual Reality (VR) by Vertical
    • Consumer Electronics
    • On-Premise
    • Healthcare
    • Commercial
    • Industrial

      • Africa Outlook (USD Billion, 2018-2032)

      • Africa Virtual Reality (VR) by Component
        • Hardware
        • Software

      • Africa Virtual Reality (VR) by Device Technology

        • Head-Mounted Displays
        • Gesture Tracking Device
        • Projectors and Display Walls
        • 3D Cameras
      • Africa Virtual Reality (VR) by Technology
    • Non-Immersive
    • Semi-Immersive
    • Fully Immersive
    • Africa Virtual Reality (VR) by Vertical
    • Consumer Electronics
    • Aerospace and Defense
    • Healthcare
    • Commercial
    • Industrial

      • Latin America Outlook (USD Billion, 2018-2032)

      • Latin America Virtual Reality (VR) by Component
        • Hardware
        • Software
      • Latin America Virtual Reality (VR) by Device Technology
        • Head-Mounted Displays
        • Gesture Tracking Device
        • Projectors and Display Walls
        • 3D Cameras
      • Latin Virtual Reality (VR) by Technology
    • Non-Immersive
    • Semi-Immersive
    • Fully Immersive
    • Latin Virtual Reality (VR) by Vertical
    • Consumer Electronics
    • Aerospace and Defense
    • Healthcare
    • Commercial
    • Industrial
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