North America Virtual Reality Market – Industry Analysis, Forecasts and Opportunity Assessment (2016-2023)
Report on North America Virtual Reality Market – Industry Analysis, Forecasts and Opportunity Assessment (2016-2023)
Introduction to North America Virtual Reality Market
Virtual Reality (VR) has changed the way people interact with the objects and environment. Increased use and adoption of virtual reality in different sectors has led growth of the global virtual reality market. Virtual reality has gained popularity across different sectors namely healthcare, entertainment, real-estate, education, etc. Also, VR is being used to provide training to doctors and employees to avoid any kind of human error. Digital meetings and conferences are conducted in real-time through VR. For architects Virtual Reality has made it more convenient to evaluate different designs before they construct the real structure.
North America is expected to dominate the global market for VR during the period 2017-2022. The revenue is expected to surpass US$ 2,200 million leading to massive growth in the sector. Growth in IT infrastructure and the rise in usage of smart devices has been the drivers for such robust growth in North America. Extensive research and development activities and presence of key market players, especially in the United States. led to the growth of VR in North America. Strong technological advancement in North America and easy incorporation of VR into the existing work routines will keep this growth rate constant for the years even after forecasted years.
The North America Virtual Reality market is segmented based on application, scale of the organisation, industrial functions and region. In terms of application, the market is divided into consumer and enterprise. It is categorized into large enterprises and small & medium sized enterprises on the basis of size of the organisation. Under industry functions VR market is divided into gaming, media and entertainment, aerospace & defence, healthcare, education, manufacturing, retail, etc. The education sector in North America is seen to be a key user of virtual reality headsets over the forecast period as the benefits they provide are enabling a more hands-on learning experience for students across different age groups. Secondly, the gaming market in North American is also likely to grow steadily over the next few years contributing to strong growth prospects for the global virtual reality headsets market. Video games are one of the most important applications of Virtual Reality technology. Over the years the number of gamers worldwide and specifically western countries has increased at a rapid pace. This has led to increased demand for augmented and virtual reality-based games worldwide and the impact of this increased demand is seen in the high growth rate over the few years.
The key market players in the Virtual Reality market are the ones that treat global market as a single market and have presence all over the world. These players include Alphabet (Google Inc.), DAQRI, Facebook, HTC, Magic Leap Inc., Microsoft Corporation, Osterhout Design Group, Samsung Electronics Co., Ltd., Sony, Wikitude, etc. These players are the experts in the field of software and application development, game development, digital and social media platforms and electronic devices. Their presence is seen even outside the North American market and have majority market share in most countries of the world.
The report contains a comprehensive analysis on:
- North America Virtual Reality Market Segments
- North America Virtual Reality Market Drivers, Restraints and Opportunities
- North America Virtual Reality Market Size & Forecast 2016 to 2023
- Supply & Demand Value Chain
- North America Virtual Reality 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 North America Virtual Reality Market includes:
- North America
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, macroeconomic factors, and other qualitative and quantitative insights. The impact of all such factors is 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