Current Business Affairs Global Virtual Reality Market 2018

Virtual Reality (VR) Market Analysis, By Device, By Technology by
Component, By Application And By Region Forecast, 2018 - 2025
Market Definition:
The global virtual reality market was estimated as USD 1.41 Billion in 2016 and is expected to reach USD 63.12 Billion by
2025, growing significantly with a CAGR of over 52.8% during the forecast period. Growing applications of virtual reality
technology and associated devices across wide areas, such as aerospace & defense, commercial, consumer electronics,
industrial and medical field and increasing interest of large technology companies in virtual reality is fuelling the growth
of the market. Moreover, easy availability of head-mounted displays and other hardware components are driving the
growth of virtual reality industry.
Virtual Reality is a three-dimensional, computer generated environment which can be explored and interacted with by
an individual. There are wide varieties of applications for virtual reality which includes architecture, sport, medicine,
arts, entertainment and gaming, healthcare, etc. Moreover, with sound and vision, companies are also working on
integrating more intelligence into the VR, to enhance their experience. Increasing trends in the virtual reality industry
are related to the field of e-commerce. E-commerce companies have started adopting VR to enhance shopping
experience for customers. Moreover, advertising companies are using VR to attract users to market their products.
However, the high cost of virtual reality devices is the main factor obstructing the growth of this market.
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Market Analysis with Latest Growth Factors:
The global virtual reality market is bifurcated based on the device, components, technology, application and region.
Based on the device, the market is segmented as head-mounted display (HMD), gesture tracking devices (GTD) and
projectors & display walls (PDW). Decrease in the prices of HMD has led to growth in the use of HMD devices, in the field
of consumer goods, commercial, medical, industrial sectors among others. Owing to this, the segment is expected to
grow at the fastest pace during the forecast period. Moreover, the use of HMDs in important applications such as
education and training, are the factors fuelling the growth of the virtual reality industry.
Major Key Players:
Major Players in the global virtual reality market include Oculus VR LLC., Sony Corporation, HTC Corporation, Samsung
Electronics Co., Ltd., EON Reality Inc., Google Inc., Microsoft Corporation, Vuzix Corporation, CyberGlove Systems Inc.,
Sensics, Inc., Leap Motion Inc., and Sixense Entertainment, Inc. Recently in May 2018, Microsoft announced the launch
date of its two enterprise apps on the HoloLens. The company announced that the apps Remote Assist and Layout, will