DUBLIN, October 14, 2021--(BUSINESS WIRE)--The "Virtual Reality (VR) - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Amid the COVID-19 crisis, the global market for Virtual Reality (VR) estimated at US$9.2 Billion in the year 2020, is projected to reach a revised size of US$89.1 Billion by 2027, growing at a CAGR of 38.2% over the analysis period 2020-2027.
Consumer Electronics, one of the segments analyzed in the report, is projected to record a 31% CAGR and reach US$28 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Aerospace segment is readjusted to a revised 37.6% CAGR for the next 7-year period.
The U.S. Market is Estimated at $2.8 Billion, While China is Forecast to Grow at 36.4% CAGR
The Virtual Reality (VR) market in the U.S. is estimated at US$2.8 Billion in the year 2020. China, the world's second largest economy, is forecast to reach a projected market size of US$14.6 Billion by the year 2027 trailing a CAGR of 36.4% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 33.8% and 33% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 26.5% CAGR.
Industrial Segment to Record 45.9% CAGR
In the global Industrial segment, USA, Canada, Japan, China and Europe will drive the 45.8% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$1 Billion in the year 2020 will reach a projected size of US$14.7 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$11.3 Billion by the year 2027.
Select Competitors (Total 126 Featured):
Advanced Micro Devices, Inc.
EON Reality Inc.
Epic Games, Inc.
Firsthand Technology Inc.
Kopin Corporation, Inc.
Leap Motion, Inc.
MindMaze Holding SA
Oculus VR, LLC
Pimax Technology (Shanghai) Co., Ltd.
Qualcomm Technologies, Inc.
Samsung Electronics Co., Ltd.
Sixense Enterprises Inc.
Sony Interactive Entertainment
Unity Technologies, Inc.
Key Topics Covered:
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
Influencer Market Insights
World Market Trajectories
Age of Digital Immersion: The Foundation for the Growing Business Interest in Virtual Reality
The First Wave of VR Unleashes the Power of VR as a Training, Simulation & Gaming Tool
The Second Wave of VR Will Unleash VR as a Communication System/Interface
Recent Market Activity
From a Fictional Concept to a Multi-Billion Dollar Opportunity, the VR Market is Ripe for the Picking
Investments Scenario: Venture Capitalists Get Ready to Surf the Giant VR Wave
A Peek Into Active AR & VR Investors & the Companies Funded by Them
Crowdfunding, Emerges as the New Way Forward
Participants across the Value Chain Bet Big on Virtual Reality
VR Value Chain Participants
Impact of Covid-19 and a Looming Global Recession
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
The Rise & Fall of Mobile VR: The Insider Story of Why Consumer VR is Falling
The Rise of VR Arcades: The Last Ditch Attempt to Revive the Consumer Gaming Market
Non-Consumer Applications: The Future of VR
Value of VR in Advertising Rises InSync With the Importance of Immersive & Interactive Visualization in Digital Marketing
VR Ready for Fishing Opportunities in the US$1.5 Trillion Aerospace Industry
VR's Room-Scale Immersive Experience to Revolutionize Real Estate and Architecture
Educational VR Experiences to Complement Traditional Teaching Methods
VR Technology Promotes Immersive and Cost-effective Simulation Based Training
Future of VR Lies in the Hardware Design: A Review
A Peek Into the Latest Headset Innovations in the Market
HTC Vive Pros Features Improved Visual Fidelity and Room Scale Experience to Attract Enterprise Users
Upgrades Propel Affordable Oculus Rift and Sony PSVR to Compete With HTC Vive in Immersive Gameplay
Standalone VR Headsets Promote Untethered VR Experience: Oculus Go Stands Out Among Pricier Competitors
Pimax 8K VR Premium Headset Provides Widest FOV to Increase Immersive Effect
Increased Focus on Innovations in Mobile VR Headsets in a Bid to Battle the Threat of Standalone VR Headsets
Innovations in VR Accessories to Enhance Immersive Experience
VR Content/Apps Rise in Significance On Par With Hardware to Influence the Commercial Success of VR Technology
List of Leading VR Apps Classified by End Use Application
Issues & Challenges
Yet to be Resolved Technology Issues - A Major Concern
Low Resolution of HMDs
Performance Issues from Display Latency of VR Devices
Massive Size of HMDs
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
For more information about this report visit https://www.researchandmarkets.com/r/swzxop
View source version on businesswire.com: https://www.businesswire.com/news/home/20211014005532/en/
Laura Wood, Senior Press Manager
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