iCrowd Newswire
25 Nov 2022, 19:02 GMT+10
The latest market analysis report titled Virtual Reality Market Size, Share and Trends Analysis Report by End-User Type, Product Type, and Region, 2021-2030 has been added to the report store by GlobalData Plc. The virtual reality market size was estimated to be worth USD 6.9 billion in 2021, as per the report. Factors including the evolution of emerging technologies such as metaverse, AI, 5G, and the Future of Work coupled with the growth of immersive virtual events will propel the virtual reality market growth. These factors are anticipated to lead the virtual reality market to garner an accelerating growth momentum at a CAGR of 25.1% during 2021-2030.
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Infographic
The proliferation of the gaming and entertainment sector coupled with the rising impetus among organizations toward online learning and training is also some other compelling factors attributing to the virtual reality market growth. However, challenges such as high manufacturing costs and a limited application ecosystem might hinder market growth. Furthermore, technological limitations of VR devices and consumer electronics might further create a hindrance to the market.
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Virtual Reality Market Segment Highlights
By End-user
By Product Type
Regional Opportunities
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Virtual Reality Market Vendor Landscape
The ongoing trend of technology leaders launching commercial products into the market has motivated start-ups to collaborate to integrate and engage VR technologies. Major VR companies are trailing mergers and acquisitions as well as collaborations with technology start-ups to gain a competitive advantage in the market. Moreover, key players are making significant investments in R&D to include cutting-edge technologies with a variety of features in their products.
Microsoft's Xbox Series X & Series S and Sony's PlayStation 5 are likely to provide VR firms with new opportunities to strengthen their position in the consumer VR arena. Many companies have realized the potential of the enterprise sector in the VR market and have forayed into the lucrative market.
Top Virtual Reality Market Players
Some other companies covered in this report are:
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About GlobalData
GlobalData is a leading provider of data, analytics, and insights on the world's largest industries. As a leading information services company, thousands of clients rely on GlobalData for trusted, timely, and actionable intelligence. Our mission is to help our clientele ranging from professionals within corporations, financial institutions, professional services, and government agencies to decode the future and profit from faster, more informed decisions. Continuously enriching 50+ terabytes of unique data and leveraging the collective expertise of over 2,000 in-house industry analysts, data scientists, and journalists, as well as a global community of industry professionals, we aim to provide decision-makers with timely, actionable insights.
Tags: vr market growth, VR market Share, VR Market Outlook, Virtual Reality Market Outlook, Virtual Reality Market Share, Virtual Reality Market Size, Virtual Reality Market Trends, vr market, vr market size, VR market Value, VR market drivers, VR Market Valuation, Virtual Reality Market
See Campaign: https://www.globaldata.com/store/report/vr-market-analysis/
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