Virtual Reality Market to Garner $227.34 billion by 2029: Industry Trends, Growth Opportunities, Recent Initiatives and Future Prospect
According to a comprehensive research report by Fortune Business Insights, “Virtual Reality Market Research Report: by Component, Technology, Device Type, Vertical -Forecast till 2029”, The reports further predict the market to flourish at a robust CAGR during the assessment timeframe.
The Virtual Reality Market is expected to garner substantial traction in future years. The rising use of AR technology in head-mounted and head-up displays (HUD) substantiates the market growth and asserts that the global Virtual Reality Market is estimated to reach 2029, growing throughout the assessment period (2022-2029).
The global virtual reality market size was valued at USD 11.64 billion in 2021. The market is projected to grow from USD 16.67 billion in 2022 to USD 227.34 billion by 2029, exhibiting a CAGR of 45.2% during the forecast period.
To Understand Latest Key Trends, Sample Report:
Key Insights from Primary Research:
- According to the analysis shared by our research forecaster, the Virtual Reality Market is likely to expand at a CAGR of around during the forecast period (2022-2029).
- The increase in revenue is mostly attributable to the demand for and sales of VR-based hardware in the gaming sector, by component segment.
- Based on Device Segment Analysis Mobile Sector dominate the Virtual Reality Market.
- On the basis of region, North America is anticipated to have a significant share of the industry during the projected period.
- The Covid-19 pandemic favored the growth of the market due to a rise in the shift toward the adoption of technologies since most businesses implemented the work-from-home culture.
- Digital transformation and industry 4.0 had boosted the demand for Virtual Reality Market. Moreover, the players were collectively forced to deploy multiple new and agile approaches to improve the consumer experience.
Companies involved in the global Virtual Reality Market research report are:
- Google LLC (California, United States)
- Oculus Rift (Facebook Inc.) (California, United States)
- Sony Corporation (Tokyo, Japan)
- Unity Technologies (California, United States)
- HTC Corporation (Taoyuan City, Taiwan)
- Microsoft Corporation (Washington, United States)
- Autodesk Inc. (California, United States)
- Sixense Enterprises Inc. (California, United States)
- Eon Reality Inc. (California, United States)
- Dassault Systems SE (Vélizy-Villacoublay, France)
- Apple Inc. (California, United States)
Click here to get the post-COVID-19 impact on this Market:
Driver: Rising investments in the market
Over the past few years, investments in the business have grown significantly. The Virtual Reality Market business is receiving significant investment from firms including Facebook Corporation, Intel Corporation, Qualcomm, Inc., Alphabet, Inc., Comcast Ventures, and Samsung Group. Additionally, a number of research organizations are investigating the AR application market for a range of goods and uses. Governments finance certain research institutes, while others are supported by private businesses and venture capitalists. Businesses in the consumer, healthcare, aerospace & military, retail, and marketing sectors all benefit.
- Market Environment: Government Policies, Technological Changes, Market Risks.
- Market Drivers: Growing Demand, Reduction in Cost, Market Opportunities and Challenges.
Virtual Reality Market Forecast:
- Market Size Forecast: Global Overall Size, By Type/Product Category, By Applications/End Users, By Regions/Geography.
- Key Data (Revenue): Market Size, Market Share, Growth Rate, Growth, Product Sales Price.
Purchase Full Report at –
Machine Learning (ML) Market Research Report with Opportunities and Strategies to Boost Growth- COVID-19 Impact and Recovery
Server Operating System Market Industry Strategy, Trends, Growth Analysis Forecast To 2029
Property Management Market Analysis And In-Depth Research On Market Size, Trends, Emerging Growth Factors And Forecast To 2029
Thermal Imaging Market Trends, Key Driven Factors, Segmentation And Forecast To 2022-2029
Industry 4.0 Market Facts, Figures And Detailed Analytical Insights 2029
Virtual Reality Market : Key Success Factors, Growth Trends & Forecast 2022-2029
Quantum Computing Market Insights and Precise Outlook – 2022, Growth Prospects by Top Key Players
Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them in addressing various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.
Email: [email protected]
Phone: US +1 424 253 0390 / UK +44 2071 939123 / APAC: +91 744 740 1245