Virtual Reality Device Market Size, Growth Analysis, Opportunities, Trends, Developments and Forecast to 2026. April 5, 2020. 5 Min Read.

What is the growth of the Virtual Reality market?

Virtual reality (VR) is an incredible innovation to provide the real environment experience of sounds, images and sensations for consumers by means of imaginary settings. Improved display technology with enhance features such as ultra-high resolution, and 3D video displays is boosting the growth of virtual reality market to a new level.

Rising number of private investments in developing VR technologies witnessed in past few years are likely to boost the growth of Virtual Reality Market. Growing number of startups are creating market competitiveness and huge investments for the enhancement in VR technologies. For instance, an amount of USD 100 million is raised from Hinduja Group by a Swiss-based startup MindMaze for the development of VR hardware & software.

Market Segmentation

Global virtual reality market is categorized on the following basis:

Based on Components

  • Hardware
  • Software

Based on Devices

  • Head Mounted Display (HMD)
  • Gesture Tracking Devices (GTD)
  • Projectors & Display Walls (PDW)
  • Wearable Glasses

Based on End-User

  • Gaming & Entertainment
  • Healthcare
  • Consumer Electronics
  • Manufacturing
  • Aerospace & Defense

Based on Geography

  • North America (U.S. & Canada) {Market Size (USD Billion), Growth Analysis (%) and Adoption Rate (%)}
  • Latin America (Brazil, Mexico & Rest of Latin America) {Market Size (USD Billion), Growth Analysis (%) and Adoption Rate (%)}
  • Europe (The U.K., Germany, France, Italy, Spain, Poland, Sweden & RoE) {Market Size (USD Billion), Growth Analysis (%) and Adoption Rate (%)}
  • Asia-Pacific (China, India, Japan, Singapore, South Korea, Australia, New Zealand, Rest of Asia) {Market Size (USD Billion), Growth Analysis (%) and Adoption Rate (%)}
  • Middle East & Africa (GCC, South Africa, North Africa, RoMEA) {Market Size (USD Billion), Growth Analysis (%) and Adoption Rate (%)}
  • Rest of World {Market Size (USD Billion), Growth Analysis (%) and Adoption Rate (%)}

Market Size and Forecast (2016-2024)

Application of gesture recognition technology (GRT) in virtual reality is gaining huge consumer interest. The global GRT market holds an opportunity to reach over USD 45 billion by the end of 2024. Furthermore, global virtual reality market is expected to reach USD 58.61 billion in 2024 from USD 1.54 billion in 2016, growing at a CAGR of 57.60 % during the forecast period.