Virtual Reality (VR) Market to Perceive a Voluminous Growth Escalating at 57% CAGR with $45 Billion by 2027 - Reuters

 

Virtual Reality (VR) Market to Perceive a Voluminous Growth Escalating at 57% CAGR with $45 Billion by 2027

Virtual Reality (VR) Market to Perceive a Voluminous Growth Escalating at 57% CAGR with $45 Billion by 2027

Wed Apr 11, 2018 - 07:15am UTC

Global Virtual Reality Market, Component (Hardware, Software), Device Type (Head Mounted Displays, Gesture Tracking Devices), Technology (Semi-Immersive, Full-Immersive), Industry Vertical (Consumer Electronics, Aerospace & Defense) – Forecast till 2027

Pune, India – April 11, 2018

The Global VR market is driven by some of the leading market players including Microsoft Corporation (US), Google Inc. (US), Vuzix Corporation (US), Blippar Inc. (UK), Metaio Gmbh (Germany), Oculus VR, LLC (US), EON Reality, Inc. (US) and Qualcomm Incorporated (US), are some of the prominent players at the forefront of competition in the Global Virtual Reality Market and are profiled in MRFR Analysis.

Virtual Reality Market – Synopsis
The Virtual Reality is surging transforming everything around taking by its stride. Giants like Microsoft, Google, and Facebook availing themselves with VR, are putting their best foot forward bringing about advent hardware and software increasingly. Although, industries like Entertainment, Media & Fashion are benefitted majorly; VR technology demonstrating its far reaching potential is impacting workplaces even. Thus proving that it is just not reliant and limited to games and Movies only and far more than that. In workplaces, it offers Virtual Prototyping to develop products faster than ever and multiple new advertising options for marketing sector.

Wide consumer uptake fuelled by the increasing awareness towards the advantages of VR, is augmenting its demand. Further allowing its market to grow pervasively. And VR Market is booming rapidly garnering a brilliant traction on the global platform.

Gauging & evaluating the potential of this market to upsurge in the years to come, Market Research Future has recently published a study report. In its analysis MRFR asserts that the global Virtual Reality Market will upsurge to USD 45 Billion by 2027, registering a massive ~57 % of a CAGR during 2017 – 2027. Growing digitization along with the advancement of technology defines the growth landscape of the market.

Request a Sample Report @ https://www.marketresearchfuture.com/sample_request/916

Burgeoning Entertainment, Media & Fashion industries drive the market majorly. Demand for head mounted displays in entertainment & gaming industry is noteworthy too. Increasing affordability of HMD displays and hardware components is providing impetus to the market growth. VR penetration in corporates, bettering the trainings & ensuring smooth workflows is impacting the market growth positively. Augmented uptake of VR Headsets in militaries & other scientific applications to improve training programs on mental conditions & health is supporting the market growth to an extent. Similarly, benefitting advantages offered by VR games are proving helpful to youngsters improving behavioural intervention/ health education. Proliferation of VR functionalities in smartphones / tablets is rising eventually, propelling the market growth extensively.

There seems to be absolutely no room for restraints for the market growth. VR devices getting increasingly affordable have eradicated the growth hampering factor – high cost, which was bothering the market growth once but not anymore. Evidently, fervent players such as Google, HTC, Microsoft, and Facebook (Oculus) are the driving force behind the great leap VR has taken from Science fiction to households increasingly getting affordable for the middle class genre.

Industry News:
February 15, 2018 – LiveLike (US) a leading player in the gaming world announcing its latest investment of USD 23 million (raised with the support of the major sports & media companies) launched its new game (fantasy sports) to enable sports lovers to enjoy 360- degree views in a virtual luxury suite further allowing them to choose from a range of colourful characters, check statistics, highlights and replay ruling out the need for expensive and cumbersome VR goggles.

February 16, 2018 – Washington State University publicised the Virtual reality technology it developed to be used at the winter Olympics 2018. The innovated technology can capture multitudes of 180 to 360 degree fields live allowing each spectator to determine a personalized view in real time/ as a replay. The project headed by Professor Sankar Jayaram, was funded by federal agencies, such as NASA, Defence Advanced Research Projects Agency and the National Science Foundation coupled with the private companies, like Komatsu, Ltd., and PACCAR

February, 2018 – Bandai Namco Entertainment Inc. (Japan) a video game development company and publisher post the opening of the world’s largest VR arcade in Tokyo (2017), announced its expansion in London by opening two new VR arcades. Followed by plans to expand the operation further across the UK throughout 2018.

February 13, 2018 – IrisVR Inc. (US) a maker of VR immersive design review & competitive software, launched add- on (update) for its enterprise VR platform for industrial construction and architecture with a new meetings feature. The feature will be helpful in the extensive collaboration and work Architecture & design demands. Immersive and collaborative VR will be used to gather up remote people into one virtual space and interact with 3-D objects.

Get Complete Report @ https://www.marketresearchfuture.com/reports/virtual-reality-market-916

Virtual Reality Market – Competitive Landscape
The global VR Market appears to be fiercely competitive. Players are focusing upon optimized situational awareness of customers to ensure their mission success. These players invest heavily in R&D, expansion, product Launch and advanced technologies. They tap the growing markets for expansions. Well established players strive to develop adept technology with unrivalled features.

Virtual Reality Market – Segments
For the convenience of the report and enhanced understanding; the report is segmented in to 5 key dynamics
By Type: Comprises Immersive, Video mapping, and Augmented.
By Component: Sensor, Projector, Semiconductor, and HMD.
By Technology: Full-Immersive, Semi-Immersive and Non-Immersive
By Application: Gaming, Entertainment, Tourism & other.
By Regions: APAC, Europe, North America and Rest of the World.

Virtual Reality Market – Geographical Analysis
North America leads the global market for Virtual Reality. Growing technical advancement coupled with the augmented demand for the smart phones supports the regional growth.
The European market for Virtual Reality Market is expected to grow registering a considerable growth rate (2016-2027).
Virtual Reality Market in Asia-Pacific market is expected to grow at a substantial CAGR from 2016 to 2027.

About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

Contact Info:
Name: Abhiskek Sawant
Email: sales@marketresearchfuture.com
Organization: Market Research Future
Address: Office No. 528, Amanora Chambers Magarpatta Road, Hadapsar

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