Global Immersive Virtual Reality Market- Industry Analysis, Forecasts and Opportunity Assessment (2017-2022)
Report on Global Immersive Virtual Reality Market- Industry Analysis, Forecasts and Opportunity Assessment (2017-2022)
Introduction to Global Immersive Virtual Reality Market
Immersive Virtual Reality (VR) is the technology that enables the user to completely experience the virtual world with multiple senses, making the user perceive the digital world to be physically present. This is done by numerous technologies that try to replicate the sensory information and feed it to the user. Technologies like gesture control, motion tracking, computer vision – all work together, giving a complete experience. The global VR market size is USD 3.13 billion, and is forecast to grow at 58.54%. A large part of this is the immersive VR market, and top players are investing heavily to cater to the exponentially growing demand for a complete immersive virtual experience.
Applications of immersive VR
The numerous potential applications of immersive technology is fueling its growth and investments in term of R&D. Some of them include information visualization in industrial sectors, simulation environments to train people for tackling dangerous and uncertain situations (as faced often by soldiers, pilots, crisis response teams, doctors etc.), in the entertainment industry to customers ever increasing demands and aspirations. This technology has the potential to give the users any type of experience one desired.
The immersive VR market is forecast to cross USD 2 billion mark by 2021. Currently, entertainment and gaming purposes occupy major share of the market, however, use of immersive VR in aerospace and defense industry will be the drivers in the near future (forecast to have a CAGR of 95%). As of now, Head Mounted Display Devices hold the major market share, though gesture tracking will drive the future growth. Region-wise, North America has the major market share, however, with these technologies becoming more affordable in the future, the markets in the Asia Pacific are expected to grow (market trend suggests and expected growth rate of close to 100%). The potentially large volume of the Asia-Pacific will give the present players large impetus to tap in to this market with more affordable offerings. Moreover, the immersive VR market trend might rise even further once the concerns like motion-sickness, and response without latency are addressed.
Immersive VR Market Segmentation
The immersive VR market segmentation can be done on the basis of region, application and technology. North America and EU are the major markets, followed by the growing Asia-Pacific region with countries like Japan and China having the highest demand. Immersive VR technology finds application in Entertainment, Engineering, Education sectors, in addition to training purposes in multiple vocations where critical conditions might arise.
As a whole, the VR market is segmented into Non-immersive VR, Half-immersive VR, and immersive VR.
The major players in the immersive VR market consists of both large and diverse organizations, as well as focused start-ups. Oculus VR was the pioneer in popularizing in VR and was acquired by Facebook in 2014. The top players in the global market are Facebook, Google, HTC, Microsoft, Magic Leap, Samsung, Sony, WorldViz, Marxent Labs, Unity Technologies, Snap etc.
The report contains comprehensive analysis on:
- Immersive VR Market Segments
- Immersive VR Drivers, Restraints and Opportunities
- Immersive VR Market Size & Forecast 2016 to 2022
- Supply & Demand Value Chain
- Immersive VR Market Current Trends
- Competition & Major Companies
- Technology and R&D Status
- Porters Five Force Analysis
- Strategic and Critical Success Factor Analysis of Key Players
Regional analysis for Immersive VR Market includes
- North America
- US and Canada
- Latin America
- Mexico, Brazil, Argentina and Rest of Latin America
- Western Europe
- EU5 (Germany, France, Italy, Spain, U.K.)
- Nordic Countries (Denmark, Finland, Norway, and Sweden)
- Benelux (Belgium, The Netherlands, and Luxembourg)
- Rest of Western Europe
- Eastern Europe
- Rest of Eastern Europe
- Asia Pacific
- Australia and New Zealand
- Rest of Asia Pacific
- Middle East and Africa
- GCC countries (Saudi Arabia, Oman, Qatar, Bahrain, UAE and Kuwait)
- South Africa
- North Africa
- Rest of Middle East and Africa
This report is an elaborate aggregation of primary inputs from industry experts and participants across the supply chain. It provides in-depth market segmentation that is derived from extensive product mapping exercises, macro-economic factors and other qualitative and quantitative insights. The impact of all such factors are delivered across multiple market segments and geographies.
- Detailed Historical Overview (Market Origins, Product Launch Timeline, etc.)
- Consumer and Pricing Analysis
- Market dynamics of the industry
- In-depth Market Segmentation
- Historical and Projected Market Sizing in terms of volume and value
- Recent market trends and Impact Factors
- R&D Status and Technology Overview
- Extensive Industry Structure Coverage