The global market for virtual reality (VR) technologies is expected to grow from $21.1 billion in 2023 to $66.9 billion by the end of 2028, at a compound annual growth rate (CAGR) of 26.0% from 2023 to 2028.
The North American market for VR technologies is expected to grow from $7.2 billion in 2023 to $22.6 billion by the end of 2028, at a CAGR of 25.6% from 2023 to 2028.
The Asia-Pacific market for VR technologies is expected to grow from $8.1 billion in 2023 to $27.5 billion by the end of 2028, at a CAGR of 27.5% from 2023 to 2028.
Report Scope:
This report provides an overview and analysis of the global market for VR. Using 2022 as the base year, the report provides estimated market data for the forecast period 2023 through 2028. This report also offers insights on drivers, restraints, and opportunities for the market, which were gathered through primary and secondary research. It also covers various market factors, including the COVID-19 impact, and Porter's five forces.
This report's scope includes a detailed study of the global and regional markets of VR technology by component, device type, technology and application. The report examines each of these market segments, determines its current market size, and estimates its future market size and compound annual growth rate (CAGR).
The report also provides detailed profiles of the significant VR players and their strategies to enhance their market presence.
Report Includes:
46 data tables and 18 additional tables
An overview and up-to-date analysis of the global market for virtual reality (VR) technologies
Analyses of the global market trends, with historic market revenue (sales figures) for 2022, estimates for 2023, forecasts for 2024, and projections of compound annual growth rates (CAGRs) through 2028
An evaluation of the upcoming market opportunities and emerging applications of VR technology, as well as forecasts for the market's segments and sub-segments
An estimate of the actual market size. a revenue forecast for the VR technologies market, and a market share analysis based on component, technology, device type, application, and region
In-depth information on R&D investments, key technology issues, industry challenges, major end-user markets and the impact on device sales
Coverage of the technological, economic and business considerations of VR technology, with market data analyses and growth forecasts through 2028
Insights into the impact of ESG factors on company performance and the ESG practices followed
Identification of the companies best positioned to meet the surging demand for VR technology market
An analysis of patent activity
A look into the VR industry structure, the supplier landscape, new products and developments, and company value share analysis based on segmental revenues
Company profiles of the leading players
Table of Contents
Chapter 1 Introduction
Study Goals and Objectives
Reasons for Doing the Study
What's New in This Update?
Scope of Report
Research Methodology
Information Sources
Regional Breakdown
Chapter 2 Summary and Highlights
Market Outlook
Market Summary and Highlights
Chapter 3 Market Overview
Current Market Overview
Market Evolution
VR in the 21st Century
Future Expectations
Current VR Trends
Emerging Trends
Macro Factors
Impact of COVID-19
Impact of Russia-Ukraine War
Value Chain Analysis
Component Manufacturers and Systems Software Developers
Device Manufacturers
Enterprise Application Developers
Distributors and Retailers
End Users
Porter's Five Forces Analysis
Chapter 4 Market Dynamics
Market Drivers
Growing Use of HMDs in Gaming and Entertainment
Falling Cost of VR Hardware
Increasing Use of VR in Automobiles
Market Restraints
Effects on Health
Global Trade War
High Initial Cost
Market Opportunities
Role of 5G in Virtual Reality
Corporate Training
Chapter 5 Market Breakdown by Component
Key Findings
Hardware
Displays and Projectors
Cameras
Semiconductor Components
Sensors
Position Trackers
Other Hardware Components
Software
Chapter 6 Market Breakdown by Device Type
Key Findings
Head-Mounted Displays
Projectors and Display Walls
Gesture Control Devices
Other Device Types
Chapter 7 Market Breakdown by Technology
Key Findings
Semi- and Fully Immersive Technology
Non-Immersive Technology
Chapter 8 Market Breakdown by Application
Key Findings
Consumer
Gaming and Entertainment
Sports
Commercial
Retail and E-commerce
Education and Training
Travel and Tourism
Advertising
Enterprise (Manufacturing)
Healthcare
Aerospace and Defense
Other Applications
Chapter 9 Market Breakdown by Region
Key Findings
North America
Europe
Asia-Pacific
Rest of the World (RoW)
Chapter 10 Sustainability in Virtual Reality Market: An ESG Perspective