Virtual reality (VR) is a virtual environment that is created by computer-generated simulations. VR devices replicates the real-time environment into the virtual
What is the growth of the Virtual Reality market?
Virtual reality devices are very popular among the people of this generation and have an immense scope in the current market.
The market is set to rise at a higher pace and simultaneously the demand also in the coming years. It has played a very vital role in building the economy and improvising the standard of living.
Virtual reality devices has landed and diversified into various field which have become a major part such as video (immerse, 360 degrees), 360 degrees photos, games: solutions – software/application and services: end use sector – retail, travel, hospitality and events, media and entertainment, retail, gaming, automotive, education engineering and defences. Key Players in the market are Cisco Meraki, VOXELUS, Koncept VR, SubVRsive, MATTERVR, Visionary VR, IAM-Media (IAM-360), WEMAKEVR and Panedia Pty Ltd.
Virtual reality devices
market is set to increase in developed and developing countries as they have made to operate things in a smarter way. It is estimated that the global VR content creation market is likely to exhibit CAGR of 89.8% in the coming 7 to 8 years.
North America and Asia-Pacific region is set to manifest a higher growth rate till 2023 mainly because of increasing trend of gaming culture, retail store, advanced software, and cameras etc.
In the year 2016 there were at least 230 companies developing VR-related products.
Facebook has large number of employees focused on VR development; Google, Apple, Amazon, Microsoft, Sony and Samsung all had dedicated AR and VR groups. Smarty shades for windows, Automatic Roller Shades and smarty shades for automation tools are very common and preferred these days and held a higher scope of expansion in the near future.
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