Virtual Reality (VR) Headset Market Synopsis
Globally,
the virtual Reality Headsets Market is expected to reach USD 57.65 Billion by
the end of 2030, growing with 28.50% CAGR during the forecast period 2022-2030
Rigorous
research conducted by the data analysts at Market Research Future Reports
(MRFR), states that the global virtual
reality headsets market
is projected to thrive at a promising CAGR of more than 28.50%% during the
assessment period from 2022 to 2030. As per the evaluation, the global virtual
reality headsets market 2020 is being majorly driven by the increasing adoption
of VR headsets in gaming, advertising, and the automotive industry. The
increasing number of smartphones is estimated to be another pivotal factor
leading to market growth during the assessment period. In addition, the
burgeoning technological development is projected to be another factor leading
to market expansion. Moreover, the VR headsets are majorly being used by
scientific and military applications for efficient mental and health training
programs. Besides, VR is extensively used in several organizations, including
the IT companies, and software and hardware providers.
However, the
pandemic COVID-19 has severely affected the global virtual reality headsets
market. The economy has been affected due to the disturbance caused in the
cycle of production and demand. The lockdown imposed across various countries
is likely to bring a massive disturbance in the market. The market will start
recovering as the lockdown is lifted in a phased manner. We will provide
COVID-19 impact analysis with the report.
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Virtual Reality
(VR) Headset Market Regional
Analysis
The global
virtual reality headsets market is estimated to expand significantly during the
review period. A thorough analysis of North America, Asia-Pacific, Europe, and
the Rest of the World (RoW) has been carried out. According to the research,
the market is likely to be dominated by North America by acquiring the largest
market share. The region is prospering due to the growing investment in technology
and the increased demand by education system, and the military to establish an
efficient virtual experience. The region is likely to generate the highest
revenue by the end of 2022. On the other hand, the Asia-Pacific region is
likely to thrive at the maximum CAGR during the assessment period. The region
consists of the developing economies, which is estimated to play an important
role in regional expansion.
However, the
regions have been affected significantly due to the outbreak of coronavirus.
Several markets have been shut temporarily due to the lockdown imposed to
contain the spread of coronavirus. It may time some time to recover from the
losses incurred during the lockdown. The global economy has been impacted
severely due to the spread of coronavirus.
COVID-19 Impact on the Global Virtual Reality Headsets
Market
Implementation of many regulations by the governments of
multiple countries to cope with the COVID-19 pandemic, such as a complete
shutdown of manufacturing facilities, restricted production, and reduced demand
for end products, is anticipated to affect the development of the global
virtual reality headsets market.
Virtual Reality
(VR) Headset Market
Segmentation
On the basis of component, the
worldwide virtual reality headsets market can be distinguished into head motion
tracking sensor, stereo sound system, Head-mounted display, controllers, and
display screen, among others.
On the basis
of type, the worldwide virtual reality headsets market can be distinguished
into smartphone-enabled, a Handheld, and PC-connected among others
On the basis
of application, the virtual reality headsets market can be distinguished into
healthcare, automobile, consumer electronics, games & entertainment, and
education, among others.
On the basis
of geography, the global virtual reality headsets market can be distinguished
into North America, Asia-Pacific, Europe, and the Rest of the World (RoW).
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Virtual Reality
(VR) Headset Market Key
Players
The
established players of the global virtual reality headsets market are Avegant
Corporation (U.S.) Samsung electronics
ltd. (South Korea), Sony Corporation (Japan), HTC Corporation (Taiwan), Google
(U.S.), Facebook (U.S.), Microsoft Corporation (U.S.), Oculus VR, LLC (U.S.),
Fove, Inc. (U.S.), LG Electronics, Inc. (South Korea), and a few others.
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