simulation among others. It aids in providing better training experience to the soldiers. For
instance, the United States Department of Defense adopted virtual and augmented reality to
reduce its training budget. According to the U.S. Navy, it is expected to invest US$ 6 billion to
US$ 6.12 billion per year for training and simulation purpose from 2016 to 2021 for virtual
reality. This is, in turn, expected to aid in growth of the market over the forecast period.
Virtual Reality Headsets Market: Regional Insights
The global virtual reality headsets market is segmented on the basis of regions into North
America, Europe, Asia Pacific, Latin America, the Middle East, and Africa. The North America
region held the dominant position in the market in 2016 and is projected to retain its dominance
throughout the forecast period. The U.S. and Canada are major economies driving the growth
of virtual reality content creation market in this region. High adoption of novel technologies
such as virtual reality and prevalent of video gaming culture in the region especially in the U.S.
have driven the growth of virtual reality content creation market. According to Coherent Market
Insights analysis, the U.S. virtual reality video market was valued approximately US$ 122.8
million and the virtual reality gaming revenue was valued about US$ 276.3 million in 2016.
Virtual Reality Headsets Market: Competitive Background
Major players operating in the global virtual reality headsets market are Sony Corporation,
Samsung electronics Ltd., HTC Corporation, Google, Inc., Microsoft Corporation, LG Electronics,
Inc., Avegant Corporation, Facebook, Fove, Inc., and Oculus VR, LLC.