Google, Samsung and LG Try to Dethrone Oculus in The Global Virtual Reality Market

Aug 25, 2016, 10:30 ET from Mordor Intelligence

HYDERABAD, India, August 25, 2016 /PRNewswire/ --

Mordor Intelligence announces the publication of its report on the Global Virtual Reality Market. The report titled "Global Virtual Reality Market - Market Size, Trends and Forecast," discusses the current landscape and outlook of the said market.

The virtual reality market is valued at USD 1.21 billion in 2015 and is estimated to grow at a CAGR of 60.90% and reach USD 13.05 billion by 2020.

Our report on the global virtual reality market is segmented based on product type, VR technology, application and geographically. The aforementioned segments are further broken down as

  • By product type
    • Hand-held devices
    • Gesture-Controlled Devices
    • Head Mounted Displays (HMD)
    • Others
  • By VR technology
    • Non-immersive
    • Semi-immersive
    • Fully-immersive
  • By Application
    • Medical & Healthcare
    • Education
    • Commerce
    • Advertising & Marketing
    • Energy & Utilities
    • Entertainment & Gaming
    • Design & Engineering
    • Logistics
    • Others
  • By geography
    • North America
    • Europe
    • Asia-Pacific
    • Latin America
    • Middle East & Africa

In terms of devices, head mounted display devices held the major share of market, over 50% in 2015, while gesture tracking devices are expected to be the fastest growing over the forecast period 2015-2020. Google, Qualcomm along with a few other organizations invested close to USD 800 million in a very promising VR start-up, MagicLeap. It all started back in 2012 when Oculus Rift raised 2.4 million USD in a seeding round, which was six-fold their required budget. Samsung's partnership with Vortex VR and LG's partnership with Google are steps taken in the infanthood of an upcoming giant.

Some of the major players discussed in the report are Google, Apple, Samsung, Microsoft, Qualcomm, Facebook, Total Immersion, Sphero, Sony, POPAR, Nintendo and many others.

About Mordor Intelligence: 

Mordor Intelligence is a global market research and consulting firm. Our focus is to provide research insights to facilitate business success. Our research expertise covers niche segments under Agriculture, Healthcare, ICT, Chemicals, Manufacturing, Logistics, Electronics and Automotive, among others. We believe in data, and we provide solutions through it. Optimum solutions and goal-oriented strategies define our endeavors and make us the preferred choice for clients.

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SOURCE Mordor Intelligence