Virtual Reality (VR): Global Strategic Business Report

Global Virtual Reality (VR) Market to Reach $67.1 Billion by 2027

In the changed post COVID-19 business landscape, the global market for Virtual Reality (VR) estimated at US$21.5 Billion in the year 2020, is projected to reach a revised size of US$67.1 Billion by 2027, growing at a CAGR of 17.6% over the analysis period 2020-2027. Hardware, one of the segments analyzed in the report, is projected to record 17.1% CAGR and reach US$45.1 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Software segment is readjusted to a revised 18.7% CAGR for the next 7-year period.

The U.S. Market is Estimated at $6.4 Billion, While China is Forecast to Grow at 17% CAGR

The Virtual Reality (VR) market in the U.S. is estimated at US$6.4 Billion in the year 2020. China, the world's second largest economy, is forecast to reach a projected market size of US$11.6 Billion by the year 2027 trailing a CAGR of 17% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 15.7% and 15.2% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 13% CAGR.

Select Competitors (Total 126 Featured) -

Advanced Micro Devices, Inc.
AppReal-VR
Barco N.V
Crytek GmbH
Cubicle Ninjas
EON Reality Inc.
Epic Games, Inc.
Erminesoft
Firsthand Technology Inc.
Google Inc.
HTC Corporation
Hyperlink Infosystem
Immersive Robotics
Intel Corporation
Jaunt, Inc.
Kopin Corporation, Inc.
Leap Motion, Inc.
Lenovo (China)
MindMaze Holding SA
NVIDIA Corporation
Oculus VR, LLC
Pimax Technology (Shanghai) Co., Ltd.
Pixvana, Inc.
Qualcomm Technologies, Inc.
Samsung Electronics Co., Ltd.
Sensics, Inc.
Sixense Enterprises Inc.
Sony Interactive Entertainment
StarVR Corporation
Unigine Corp.
Unity Technologies, Inc.
Varjo Technologies
Virtalis Limited
VirtaMed AG
VRgineers, Inc.
WorldViz

What`s New for 2022?

Global competitiveness and key competitor percentage market shares
Market presence across multiple geographies - Strong/Active/Niche/Trivial
Online interactive peer-to-peer collaborative bespoke updates
Access to digital archives and Research Platform
Complimentary updates for one year

Frequently Asked Questions about the Global Market for Virtual Reality (VR)

What is the estimated value of the Global Market for Virtual Reality (VR)?

The Global Market for Virtual Reality (VR) was estimated to be valued at $21.5 Billion in 2020.

What is the growth rate of the Global Market for Virtual Reality (VR)?

The growth rate of the Global Market for Virtual Reality (VR) is 17.7%, with an estimated value of $67.1 Billion by 2027.

What is the forecasted size of the Global Market for Virtual Reality (VR)?

The Global Market for Virtual Reality (VR) is estimated to be worth $67.1 Billion by 2027.

Who are the key companies in the Global Market for Virtual Reality (VR)?

Key companies in the Global Market for Virtual Reality (VR) include Advanced Micro Devices, Inc., AppReal, VR, Barco N.V, Crytek GmbH, Cubicle Ninjas, EON Reality Inc., Epic Games, Inc. and Firsthand Technology Inc..

Report Attribute	Details
No. of Pages	313
Published	October 2022
Forecast Period	2020 - 2027
Estimated Market Value ( USD ) in 2020	$ 21.5 Billion
Forecasted Market Value ( USD ) by 2027	$ 67.1 Billion
Compound Annual Growth Rate	17.7%
Regions Covered	Global

I. METHODOLOGYII. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

Influencer Market Insights
World Market Trajectories
Age of Digital Immersion: The Foundation for the Growing Business Interest in Virtual Reality
The First Wave of VR Unleashes the Power of VR as a Training, Simulation & Gaming Tool
The Second Wave of VR Will Unleash VR as a Communication System/Interface
Recent Market Activity
From a Fictional Concept to a Multi-Billion Dollar Opportunity, the VR Market is Ripe for the Picking
Investments Scenario: Venture Capitalists Get Ready to Surf the Giant VR Wave
A Peek Into Active AR & VR Investors & the Companies Funded by Them
Crowdfunding, Emerges as the New Way Forward
Participants across the Value Chain Bet Big on Virtual Reality
VR Value Chain Participants
Enterprise Sector to Mobilize a Sizable Chunk of Growth in the VR Market
Industrial/Manufacturing Sector Hide a Goldmine of Opportunities for VR
Backed by the Promise of “Adding Value in Care”, VR in Healthcare Poised for Rapid Growth in a Rapidly Transforming Value Based Healthcare System
Convergence of VR & AR Into Mixed Reality to be the Bold New Future
Market Outlook
Virtual Reality (VR) - Global Key Competitors Percentage Market Share in 2022 (E)
Impact of Covid-19 and a Looming Global Recession
Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)

2. FOCUS ON SELECT PLAYERS

VR Hardware Manufacturers
Barco N.V (Belgium)
EON Reality Inc. (USA)
Google Inc. (USA)
HTC Corporation (Taiwan)
Immersive Robotics (Australia)
Intel Corporation (USA)
Kopin Corporation, Inc. (USA)
Leap Motion, Inc. (USA)
Lenovo (China)
MindMaze Holding SA (Switzerland)
Oculus VR, LLC (USA)
Pimax Technology (Shanghai) Co., LTD
Qualcomm Technologies, Inc. (USA)
Samsung Electronics Co., Ltd., (South Korea)
Sensics, Inc. (USA)
Sixense Enterprises Inc. (USA)
Sony Interactive Entertainment (USA)
StarVR Corporation (Taiwan)
Varjo Technologies (Finland)
Virtalis Limited (UK)
VirtaMed AG (Switzerland)
VRgineers, Inc (Czech Republic)
WorldViz (USA)
VR Software Developers (Includes Software Toolsfor VR Content, VR Video Capture, and VR App Developers)
Advanced Micro Devices, Inc. (USA)
AppReal-VR (Israel)
Cubicle Ninjas (USA)
Crytek GmbH (Germany)
Epic Games, Inc. (USA)
Erminesoft (USA)
Firsthand Technology Inc. (USA)
Hyperlink Infosystem (India)
Jaunt, Inc. (USA)
NVIDIA Corporation (USA)
Pixvana, Inc. (USA)
Unigine Corp. (Russia)
Unity Technologies, Inc. (USA)

3. MARKET TRENDS & DRIVERS

The Rise & Fall of Mobile VR: The Insider Story of Why Consumer VR is Falling
The Rise of VR Arcades: The Last Ditch Attempt to Revive the Consumer Gaming Market
Non-Consumer Applications: The Future of VR
Value of VR in Advertising Rises InSync With the Importance of Immersive & Interactive Visualization in Digital Marketing
VR Ready for Fishing Opportunities in the US$1.5 Trillion Aerospace Industry
VR's Room-Scale Immersive Experience to Revolutionize Real Estate and Architecture
Educational VR Experiences to Complement Traditional Teaching Methods
VR Technology Promotes Immersive and Cost-effective Simulation Based Training
Future of VR Lies in the Hardware Design: A Review
A Peek Into the Latest Headset Innovations in the Market
HTC Vive Pros Features Improved Visual Fidelity and Room Scale Experience to Attract Enterprise Users
Upgrades Propel Affordable Oculus Rift and Sony PSVR to Compete With HTC Vive in Immersive Gameplay
Standalone VR Headsets Promote Untethered VR Experience: Oculus Go Stands Out Among Pricier Competitors
Pimax 8K VR Premium Headset Provides Widest FOV to Increase Immersive Effect
Increased Focus on Innovations in Mobile VR Headsets in a Bid to Battle the Threat of Standalone VR Headsets
Innovations in VR Accessories to Enhance Immersive Experience
VR Content/Apps Rise in Significance On Par With Hardware to Influence the Commercial Success of VR Technology
List of Leading VR Apps Classified by End Use Application
Issues & Challenges
Yet to be Resolved Technology Issues - A Major Concern
Low Resolution of HMDs
Performance Issues from Display Latency of VR Devices
Massive Size of HMDs
Non-Compatibility with Other Devices
Need for Systems with High End Configuration & its Cost Implications
Maintaining Consistent Video Quality - A Major Technology Challenge
Data Storage - A Critical But Often Ignored VR Function
Despite Emergence of New Relatively Inexpensive Model - Cost Continues to Remain a Major Issue
Lack of Awareness & Penetration in Addressable Markets

4. GLOBAL MARKET PERSPECTIVE

Table 1: World Recent Past, Current & Future Analysis for Virtual Reality (VR) by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2020 through 2027 and % CAGR
Table 2: World 7-Year Perspective for Virtual Reality (VR) by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets for Years 2021 & 2027
Table 3: World Recent Past, Current & Future Analysis for Hardware by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2020 through 2027 and % CAGR
Table 4: World 7-Year Perspective for Hardware by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2021 & 2027
Table 5: World Recent Past, Current & Future Analysis for Software by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2020 through 2027 and % CAGR
Table 6: World 7-Year Perspective for Software by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2021 & 2027
Table 7: World Recent Past, Current & Future Analysis for Head-Mounted Display (HMD) by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2020 through 2027 and % CAGR
Table 8: World 7-Year Perspective for Head-Mounted Display (HMD) by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2021 & 2027
Table 9: World Recent Past, Current & Future Analysis for Gesture-Tracking Device (GTD) by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2020 through 2027 and % CAGR
Table 10: World 7-Year Perspective for Gesture-Tracking Device (GTD) by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2021 & 2027
Table 11: World Recent Past, Current & Future Analysis for Projectors & Display Wall (PDW) by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2020 through 2027 and % CAGR
Table 12: World 7-Year Perspective for Projectors & Display Wall (PDW) by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2021 & 2027
Table 13: World Recent Past, Current & Future Analysis for Semi & Fully Immersive by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2020 through 2027 and % CAGR
Table 14: World 7-Year Perspective for Semi & Fully Immersive by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2021 & 2027
Table 15: World Recent Past, Current & Future Analysis for Non-Immersive by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2020 through 2027 and % CAGR
Table 16: World 7-Year Perspective for Non-Immersive by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2021 & 2027
Table 17: World Recent Past, Current & Future Analysis for Commercial by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2020 through 2027 and % CAGR
Table 18: World 7-Year Perspective for Commercial by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2021 & 2027
Table 19: World Recent Past, Current & Future Analysis for Consumer by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2020 through 2027 and % CAGR
Table 20: World 7-Year Perspective for Consumer by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2021 & 2027
Table 21: World Recent Past, Current & Future Analysis for Aerospace & Defense by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2020 through 2027 and % CAGR
Table 22: World 7-Year Perspective for Aerospace & Defense by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2021 & 2027
Table 23: World Recent Past, Current & Future Analysis for Healthcare by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2020 through 2027 and % CAGR
Table 24: World 7-Year Perspective for Healthcare by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2021 & 2027
Table 25: World Recent Past, Current & Future Analysis for Enterprise by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2020 through 2027 and % CAGR
Table 26: World 7-Year Perspective for Enterprise by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2021 & 2027
Table 27: World Recent Past, Current & Future Analysis for Other Applications by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2020 through 2027 and % CAGR
Table 28: World 7-Year Perspective for Other Applications by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2021 & 2027
Table 29: World Virtual Reality (VR) Market Analysis of Annual Sales in US$ Million for Years 2012 through 2027

III. MARKET ANALYSIS

UNITED STATES

Virtual Reality (VR) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2022 (E)

CANADA

JAPAN

Virtual Reality (VR) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Japan for 2022 (E)

CHINA

Virtual Reality (VR) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2022 (E)

EUROPE

Virtual Reality (VR) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2022 (E)

FRANCE

Virtual Reality (VR) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in France for 2022 (E)

GERMANY

Virtual Reality (VR) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Germany for 2022 (E)

ITALY

UNITED KINGDOM

Virtual Reality (VR) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United Kingdom for 2022 (E)

REST OF EUROPE

ASIA-PACIFIC

Virtual Reality (VR) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2022 (E)

REST OF WORLDIV. COMPETITION

Companies Mentioned

A selection of companies mentioned in this report includes:

Advanced Micro Devices, Inc.
AppReal-VR
Barco N.V
Crytek GmbH
Cubicle Ninjas
EON Reality Inc.
Epic Games, Inc.
Erminesoft
Firsthand Technology Inc.
Google Inc.
HTC Corporation
Hyperlink Infosystem
Immersive Robotics
Intel Corporation
Jaunt, Inc.
Kopin Corporation, Inc.
Leap Motion, Inc.
Lenovo (China)
MindMaze Holding SA
NVIDIA Corporation
Oculus VR, LLC
Pimax Technology (Shanghai) Co., Ltd.
Pixvana, Inc.
Qualcomm Technologies, Inc.
Samsung Electronics Co., Ltd.
Sensics, Inc.
Sixense Enterprises Inc.
Sony Interactive Entertainment
StarVR Corporation
Unigine Corp.
Unity Technologies, Inc.
Varjo Technologies
Virtalis Limited
VirtaMed AG
VRgineers, Inc.
WorldViz

Global Virtual Reality (VR) Market to Reach $67.1 Billion by 2027

The U.S. Market is Estimated at $6.4 Billion, While China is Forecast to Grow at 17% CAGR

Select Competitors (Total 126 Featured) -

What`s New for 2022?

What is the estimated value of the Global Market for Virtual Reality (VR)?

What is the growth rate of the Global Market for Virtual Reality (VR)?

What is the forecasted size of the Global Market for Virtual Reality (VR)?

Who are the key companies in the Global Market for Virtual Reality (VR)?

Table of Contents

Companies Mentioned

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