Advancement of technologies in virtual reality sector is projected to help various sectors like automotive & healthcare to introduce virtual reality for better safe drive and in diagnostics & imaging & technology. Further, banking upon the vast application in pilot training programs, military operations, real estate and gaming industry, virtual reality is projected to spur the global virtual reality market in near future. Further, technological advancements for operating tasks through fixed location is also projected to fuel the virtual reality market globally.Global gaming virtual reality is the fast growing market across the globe due to presence of high-end & graphics game. The Global Virtual Reality Market is expected to grow at a CAGR of 42.78% in the forecast period of 2015-2021 and expected to cross USD 40 Million by 2021.
Growth in Global Video Games Industry
Global video games industry revenue is anticipated to augment at a compound annual growth rate (CAGR) of 6.1% during 2015-2019. This expansion of gaming industry is likely to encourage more experiments in terms of quality and providing enhanced VR (virtual reality) experience to the gamers. This in-turn is expected to benefit both the VR hardware and software content developers and foster their market over the forecast period.