The virtual reality market is valued at around USD $11.5 billion in 2017 and is anticipated to reach approximately USD $32.0 billion by 2023. It is projected to grow at a CAGR 55.2% from 2018 to 2023. This market is categorized by application, technology, devices, components, and region.
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Virtual reality (VR) refers to the experience of a high resolution graphic or photographic environment through a cutting-edge device, such as a headset or eyeglass-type terminal, that draws on advanced displays, graphics semiconductors, motion sensors, and headphone technologies. Virtual reality has the potential to become the next big computing platform, similar to PC and smartphone.
It presents a unique opportunity for advertisers to reach a completely immersed audience.
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Virtual reality involves a goggle-type display that completely covers the field of view. Wearing the display, users experience the illusion of inhabiting an artificial space.
Users see computer graphics or photographs that move in tandem with movements of their head, neck, and body, and hear sounds in the virtual world through headphones. If the quality of the graphics is high enough, users might come to accept the idea that they are actually within an artificially-created world or are in a place that would otherwise be difficult to access.
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One of the key applications of virtual reality is the streaming of live events like sports, concerts, and world affairs which solves the problem of limited seating at events and makes events especially available to anyone and anywhere. Television currently solves this problem with a 2D viewing experience, and VR has the potential to be the new format in which people watch and experience live events.
Major players in virtual reality market are
- Oculus, Microsoft Corporation, HTC Corporation, Barco, CyberGlove Systems, Alphabet, Leap Motion, Samsung Electronics Co. Ltd., Sensics, and Sixense Entertainment.
The user experience, technology constraints, the development of content and applications, and price are key hurdles to its adoption The user experience being the important factor. With expecting technology advancements in near future will help reduce cyber sickness and increase mobility thus expanding the pervasiveness of VR.
Taking consideration into content and applications, we see an issue where content and app developers are cautious to make investments in VR without any installed base, while at the same time, consumers and enterprises are hesitant to buy VR hardware without a strong supply of content and apps.
THE KEY BENEFIT FOR THIS REPORT:
* This report provides current market trends and future growth expectations
* This report examines the market size and changing competitive dynamics
* It covers information regarding key drivers, challenges or restraining market growth
* It provides a five-year forecast assessed on the basis market value chain, Porter's five forces, and supply chain management
* Market factor analysis delivers treasured information regarding the possible purchasers and suppliers and understanding the stakeholders involved
* This report incorporates data regarding companies and business decision by having complete insights on the markets and by creating in depth analysis of market segments
* Console & mobile gaming companies
* Amusement & theme park (VR Coaster)
* Venture capitalists and investors
* Government associations
* Industrial use and factory operation
* Aerospace & defense
Table of Contents:
1 Executive Summary
2 Demographic Overview
3 Research Methodology
4 Premium Insights
- Market Overview
6 Market Factor Analysis
7 Global Market Analysis By Offerings
8 Global Market Analysis By Connectivity Type
9 Global Market Analysis By Deployment Type
10 Global Market Analysis By Organization Type
11 Global Market Analysis By Industry Verticals
12 Global Market Analysis By Region
13 Market Trends & Competitive Analysis
14 Company Profiles
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