Virtual Reality Market To Exhibit a Remarkable 42.2% CAGR, Moves by Facebook, Google, and Apple to Offer an Advanced User Experience to Boost Growth: Fortune Business Insights

USA - English

• India - English

PUNE, India, Sept. 12, 2019 /PRNewswire/ -- The advent of virtual reality technology has transformed the way we live, work, and socialize. Both virtual reality and augmented reality possess the potential to transform the world. As people are eager to learn and grow, virtual reality plays a significant role in learning and development. From entertainment to education & training and travel, virtual reality offers a real-time experience to its users at reasonable price. According to a published report by Fortune Business Insights, titled, "Virtual Reality Market: Global Market Analysis, Insights, and Forecast, 2018-2026," the global Virtual Reality Market is anticipated to reach US$ 120.5 Bn by 2026, as against US$ 7.3 Bn in 2018, thereby exhibiting a CAGR of 42.2% during the forecast period. Virtual reality or VR is advancing at a fast pace. Virtual reality is gradually paving its way into the automotive sector. Besides integration of voice assistance, vehicles nowadays come integrated with several advanced featurues to offer improved driver safety. Spurred by these factors, the global virtual reality market share is expected to increase considerably in the near future.

Virtual reality has the ability to stimulate the environment via head-mounted displays, helping a user to interact and explore. Growing technological advancements in virtual reality are likely to generate plenty of VR solutions, allowing real-time experience to customers. This, in turn, is expected to drive the virtual reality market growth in the forthcoming years.  

Browse Complete Report Details with Table of Content and Figures:

https://www.fortunebusinessinsights.com/industry-reports/virtual-reality-market-101378

Other Than Gaming & Media, Virtual Reality to Penetrate into Healthcare, Education, and Other Sectors

The demand for virtual reality applications is increasing in healthcare, gaming & entertainment media, automotive, manufacturing, and other industries. Of these, gaming and entertainment media covers a 40.5% of the global virtual reality market share. The adoption of virtual reality technology is likely to increase in the education and healthcare industry, thus boosting the virtual reality market size. The technology can be used for providing training, monitoring patients, and practicing surgeries. As per research studies, virtual reality is expected to be the future of online learning. For instance, an education technology start-up called 3rdFlix raised around US$ 5 million from Exfinity Vnetures to create a live learning experience. With the rising awareness about virtual reality, the adoption of concept leaning among students is increasing.

As per technology, companies plan to invest in semi-immersive technology than non-immersive with an aim to create a better user experience. Owing to the rising investments and research and development activities, the software segment is expected to be on the rise whereas hardware witnessed a steady rise.

Google and Apple Focusing on R&D to Innovate the Virtual Reality Market in North America

North America covers 40% of the share in the global virtual reality market and is leading the market. US giants such as Facebook, Google, and Apple continue to focus on research and development (R&D) activities for software and hardware to further stimulate the virtual reality market share. The growth in this region is mainly attributable to the increased funding in start-ups, making the market dynamic.

The market in Europe is projected to hold a quarter share in the forecast years. Countries such as France, Germany, and France are the major contributors to the market. Apart from North America and Europe, the market is expected to rise in other regions such as Asia Pacific, Latin America, and the Middle East & Africa. 

Sample PDF https://www.fortunebusinessinsights.com/enquiry/sample/virtual-reality-market-101378

Over 70% of the Players have their Dominance in North America 

The report profiles some of the leading players in the global virtual reality market. These include:

• Google
• Microsoft
• Oculus VR (Facebook)
• Autodesk Inc.
• Samsung Electronics
• HTC
• Eon Reality
• Vuzix
• Sony
• Leap Motion
• Vuzix
• Sixense Enterprises
• Dassault Systemes SE
• Lenovo Group Ltd.
• Magic Leap, Inc.

Of these, companies such as Facebook, Google, Microsoft, HTC, Autodesk, Leap Motion, 3D, Sixense Enterprise, Dassault Systemes, and Eon reality is responsible for the surge in the virtual reality market revenue. Moreover, over 70% of these players have their dominance in North America. Recently Dassault Systemes offered help to the students of the University of Switzerland by making them aware of the latest technologies and industrial process. With the help of virtual reality, the company helped more than 700 engineering students and made them aware of ENOVIA for collaboration, CATIA for multi-disciplinary systems design and documentation, 3DEXCITE for high-end 3D visualization, and DELMIA for manufacturing simulation and robotics. Companies are increasingly investing in virtual reality technology to stay ahead of competition. Some of the recent industry developments are mentioned below:

June 2018: A virtual reality headset called Oculus Go was launched in Canada and UK. It is now available at reasonably affordable prices.

May 2019: Ultrahaptics announced the acquisition of a hand-tracking headset maker called Leap Motion to strengthen its market position

August 2019: Sony Interactive Entertainment patented a virtual reality device combating eye-tracking and other simulation sicknesses.

Speak to Analyst https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/virtual-reality-market-101378 

Table of Content:

• Introduction
• Definition, By Segment
• Research Approach
• Sources
• Executive Summary
• Market Dynamics
• Drivers, Restraints and Opportunities
• Emerging Trends 
• Key Insights
• Macro and Micro Economic Indicators
• Consolidated SWOT Analysis of Key Players
• Porter's Five Forces Analysis
• Global Virtual Reality Market Analysis, Insights and Forecast, 2015-2026
• Key Findings / Summary
• Market Size Estimates and Forecasts
• By Offering (Value)
• Hardware
• Software
• By Technology (Value)
• Nonimmersive
• Semi-Immersive
• By Industry Vertical (Value)
• Gaming & Entertainment Media
• Healthcare
• Education
• Automotive
• Aerospace & Defense
• Manufacturing
• Other
• By Application (Value)
• Training & Simulation
• Educational
• Attraction
• Research & Development
• Others (3D prototyping, modelling, etc.)
• By Geography (Value)
• North America
• Europe
• Asia Pacific
• Middle East and Africa
• Latin America

Continued..

Request forCustomization: https://www.fortunebusinessinsights.com/enquiry/customization/virtual-reality-market-101378 

Browse Related Reports:

• Fraud Detection and Prevention Market Size, Share and Global Trend By Deployment (Cloud & On premises), By Service Type (Fraud Analytics & Authentication), By Industry Vertical (IT and Telecommunication, Retail, Consumer Electronics, Manufacturing, Automotive, Transportation and Logistics, Energy and Utilities) and Geography Forecast till 2026
• Mobile Virtual Network Operators Market  Size, Share and Global Trend by Operational Model (Reseller MVNO, Service Provider MVNO, Full MVNO), Service Type (Postpaid, Prepaid), Subscriber (Business, Individual/Residential) and Geography Forecast till 2025
• Process Spectroscopy Market Size, Share and Global Trend By Technology (NIR Spectroscopy, Raman Spectroscopy, FT-IR Spectroscopy and Others), By End Use Industry (Polymer, Pharmaceutical, Chemical and others), and Geography Forecast till 2025
• Recruitment Software Market Size, Share and Global Trend by Component (Solution, Services), Service Type (Retail, IT & Telecom, BFSI, Manufacturing, Healthcare, Education, Hospitality, Media & Entertainment), Enterprise Size (Small & Medium Enterprise, Large Enterprise), and Geography Forecast till 2025
• Video On Demand Market  Size, Share and Global Trend by Technology (SVOD, TVOD, AVOD), Content Type (Sports, Music, TV Entertainment, Kids, Movies), and Geography Forecast till 2025 

About us:

Fortune Business Insights offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in. 

Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data. 

At Fortune Business Insights we aim at highlighting the most lucrative growth opportunities for our clients. We therefore offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.

Contact us:
Fortune Business Insights Pvt. Ltd. 
308, Supreme Headquarters,
Survey No. 36, Baner,
Pune-Bangalore Highway,
Pune - 411045, Maharashtra, India.
US :+1-424-253-0390
UK :+44-2071-939123
APAC :+91-744-740-1245
Email: [email protected]

Website: https://www.fortunebusinessinsights.com 

SOURCE Fortune Business Insights