In 2014, the global immersive virtual reality market was valued at USD 64.2 millions. Immersive VR is a technology that blurs between the digital and physical worlds, creating an experience of being in the virtual environment. This market is being explored by many large corporations such as Sony and HTC. Over the next two-years, growth is expected to accelerate with the launch of VR headsets for commercial use.
U.S. immersive VR market by technology, 2013-2020 (USD Million).
Mobile HMDs will continue to grow due to the proliferation of smartphones. Many mobile VR headsets are offered by companies that use a third-party device. This reduces overall costs and opens up opportunities for mobile app developers. The technology's costs will decrease, and the application will see exponential growth in all industry verticals.
Over the forecast period, technological development, consumer VR and lower selling prices are expected to drive growth. The market for immersive virtual reality may be constrained by a lack of content, poor hygiene and a lack of comfort.
Devices can deliver high-performance, low-cost performance due to the affordability of stereoscopic displays and motion tracking technology. The field of view, resolution and lag will improve with HMD technology. However, device weight and lag will decrease. The technology will grow through R&D investments and the development of innovative solutions over the next five year.
Semi-immersive technology is implemented using devices such as projectors and shutter glass. Motion devices engage users in a partially immersive setting that uses a wide field view to create the sensation of immersion.
Full immersive technologies allow users to experience virtual environments directly. The user wears an HMD that can provide stereo, monocular or bi-ocular images. This technology is made possible by headsets, gesture recognition devices and controllers and is expected to grow rapidly over the forecast period.
These devices include display walls, gesture tracking devices and head-mounted displays. HMDs can include integrated and mobile headsets. GTDs can include hand devices, gloves and body units, as well as treadmills, foot controls, voice controls, and cameras. This segment is expected to grow at the fastest rate over the next few decades. PDWs can be used to create semi-immersive experiences. The segment includes large-screen monitors and multiple projection systems, as well as VR projectors.
GTD is essential for immersion. Users instinctively reach out with their fingers and move about the virtual world while immersed in it. Future headsets will likely include the Leap Motion controller as well as other gesture-tracking solutions. Oculus and Razer have already integrated their GTDs in modified versions of their products.
Aerospace & Defense are key applications. These devices can be used to train military personnel and for flight simulation. Entertainment and gaming are two of the most promising growth areas in the consumer electronics industry. The technology is used by healthcare professionals and medical personnel for simulation, diagnosis, and robotic surgery.
Retail and advertising are also promising growth areas, particularly for wearable devices that can be used to promote, launch and advertise new products. Other uses include education and industrial. Over the forecast period, technology demand in manufacturing, retail, marketing, and medical will rise significantly.
Vendors place high importance on technology development and commercialization. Since the introduction of its development kit, VR HMDs are extremely popular and in high demand. The growth rate has been higher in developed countries, especially the U.S. where there are many vendors.
Technology advancements are expected to drive demand. The global market was dominated by the U.S., and this trend will continue for the next five years. Due to high consumer anticipation for virtual reality technology, the market for immersive virtual reality in Europe is expected to grow the most.
To capitalize on the new additions to the wearable tech market, major consumer electronics companies such as Samsung, HTC, and Sony have entered the sector. Oculus VR is credited with helping to popularize VR headsets among consumers. Facebook purchased the company in March 2014 for USD 2.0 billion in cash and stock.
The technology market is full of vendors. These include technology giants like Sony and Facebook, as well as start-ups like FOVE and ANTVR. To reduce unit costs, manufacturers are continually improving the technology and developing new features.
b. Global immersive virtual reality market was valued at USD 1.3 billion in 2019, and is forecast to grow to USD 1.9 billion by 2020.
What is the growth rate of immersive virtual reality?b. Global immersive virtual reality market will grow at a compound annual rate of 68.7% between 2015 and 2020, to reach USD 1.91 billion by 2020.
Which segment had the largest share of immersive virtual reality markets?b. With a market share of 50.1%, North America was the dominant player in immersive virtual reality. This can be attributed to the presence and dominance of technology giants and key vendors, as well as growing technological developments and increasing popularity of HMD among consumers.
What are the top players in the immersive virtual reality market and who are they?b. Microsoft, HTC Corporation, HTC Corporation, Facebook, Inc., Samsung, Magic Leap, Inc., and Google LLC are some of the key players in the immersive virtual-reality market.
What are the driving factors for the immersive virtual reality marketb. The market growth is being driven by key factors such as advancements in HMDs, an increase in immersive media spending and increased use of VR for simulations.
Up Market Research published a new report titled “Immersive Virtual Reality Market research report which is segmented by Application (Medical, Aerospace & Defense, Retail, Consumer Electronics), by Technology (Semi-Immersive, Fully Immersive), by Device (Head-mounted Display (Head-mounted Display HMD), by Gesture Tracking Devices (GTD), by Display Walls (PDW), By Players/Companies Inc; and Google LLC, Microsoft; Sony Corporation; HTC Corporation; Facebook, Inc; Samsung; Magic Leap”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.
Report Attributes | Report Details |
Report Title | Immersive Virtual Reality Market Research Report |
By Application | Medical, Aerospace & Defense, Retail, Consumer Electronics |
By Technology | Semi-Immersive, Fully Immersive |
By Device (Head-mounted Display | Head-mounted Display HMD |
By Gesture Tracking Devices | GTD |
By Display Walls | PDW |
By Companies | Inc; and Google LLC, Microsoft; Sony Corporation; HTC Corporation; Facebook, Inc; Samsung; Magic Leap |
Regions Covered | North America, Europe, APAC, Latin America, MEA |
Base Year | 2020 |
Historical Year | 2018 to 2019 (Data from 2010 can be provided as per availability) |
Forecast Year | 2028 |
Number of Pages | 203 |
Number of Tables & Figures | 143 |
Customization Available | Yes, the report can be customized as per your need. |
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
The market is segmented by Application (Medical, Aerospace & Defense, Retail, Consumer Electronics), by Technology (Semi-Immersive, Fully Immersive), by Device (Head-mounted Display (Head-mounted Display HMD), by Gesture Tracking Devices (GTD), by Display Walls (PDW).
Immersive Virtual Reality Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
Key Benefits for Industry Participants & Stakeholders:
Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
We have studied the Immersive Virtual Reality Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.
How you may use our products:
Reasons to Purchase the Immersive Virtual Reality Market Report:
Some other reports from this category!