The major growth driver of Virtual Reality Market includes growing digitization, advancement of technology, increasing demand for head mounted displays in gaming and entertainment industries, and rising investment in virtual reality market among others.
Hence the market for Virtual Reality Market is expected to grow at an extravagant rate of CAGR (2016-2027).
However, high cost of devices and lack of technical expertise are the factors among others which are hindering the growth of Virtual Reality Market .
- Google has published in its news on June 2016 that the company is working on developing a virtual reality version of Chrome for android devices.
- Microsoft corporation has announced in May 2016 about a new gaming notebook containing Windows 10 which is built for virtual reality gaming.
- Vuzix Corporation, one of the leading suppliers of video eyewear and M300 smart glasses, has announced in July 2016 that it has done partnership with Sensory, a Silicon Valley-based company, to deliver voice recognition on the M300 to improve the efficiency on work by the users.
Global VR Market Players
Some of the major players in Global Virtual Reality Market include Google Inc. (US), Microsoft Corporation (US), Blippar Inc. (UK), Vuzix Corporation (US), Metaio Gmbh (Germany).
Other prominent players include Qualcomm Incorporated (US), Oculus VR, LLC (US), EON Reality, Inc. (US), among others.
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Global Virtual Reality Market – Overview:
Virtual reality (VR) typically refers to computer technologies that use virtual reality headsets to generate the realistic images, sounds and other sensations that replicate a real environment or create an imaginary setting. VR has been defined as "a realistic and immersive simulation of a three-dimensional 360-degree environment, created using interactive software and hardware, and experienced or controlled by movement of the body or as an immersive, interactive experience generated by a computer.
The Global Virtual Reality Market is expected to witness a sky rocketing with an extravagant rate of CAGR during the forecast period (2016-2027).
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Global Virtual Reality Market report takes you through the full Market Analysis, Opportunities, Price, Growth, Trends and Featuring the market Predictions right up to the years 2027 and helps you to find out:
- How the market revenue is progressing globally.
- What are the key driving or affecting factors for the market growth?
- How the market revenue is progressing in various segments & geographies.
- What are the current main market trends responsible for shaping up the Market Acquisitions
VR Market – Segmentation
Global Virtual Reality Market is segmented into 3 main dynamics
Segmentation On the basis of Types: Comprises - Augmented, Immersive, Video mapping
Segmentation On the basis of Component: Comprises - Projector, Sensor, HMD, Semiconductor
Segmentation on the basis of Application: Comprises - Entertainment, Gaming, Tourism
Segmentation on the basis of Technology: Comprises - Non-immersive
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Virtual Reality Market – Regional Analysis
North America dominated the Global Virtual Reality Market with the largest market share due to growing demand for smartphones, and growing technical advancement in computers and internet facilities in the region, and therefore accounting for a greater market value and is expected to grow even further by 2027. Virtual Reality Market in Asia-Pacific market is expected to grow at a significant rate of CAGR by 2027.
The European market for Virtual Reality Market is expected to grow at a substantial rate of CAGR (2016-2027).
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