The global virtual reality headset market size is anticipated to reach USD 55.69 billion by 2028, registering an estimated CAGR of 28.2% from 2021 to 2028, according to a new report by Grand View Research, Inc. The continuous advancements in virtual reality (VR) technology and the rapid penetration of smartphones are expected to drive market growth. The rising product adoption in the education and healthcare sectors, mainly for teaching & training purposes, is further contributing to the growth of the market.
The
increasing product usage for different applications across industries,
especially in the wake of the Covid-19 pandemic, is also driving the market
growth. The deployment of these devices is expected to increase as temporary
lockdowns imposed by governments have impelled people to shift to virtual
platforms for various services. The demand for head-mounted displays witnessed
a surge in demand during the pandemic.
Moreover,
the innovations in 3D technology and the integration of Artificial
Intelligence (AI) with virtual reality are providing growth opportunities
to the market, particularly in the manufacturing and automation industries.
Virtual reality technology enhances the efficiency of product development while
helping in minimizing faults in the system. The product usage for training
purposes on the production line and for remotely conducting maintenance and
repair tasks provides effective control over the production cost. Businesses
are embracing state-of-the-art devices with the latest features, such as
sensors for motion tracking, eye tracking, gesture input, spatial sound, and
voice support.
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Virtual Reality
Headset Market Report Highlights
- Innovations
in virtual reality gaming along with advanced devices that offer a
real-like experience for gamers are expected to drive the market growth
from 2021 to 2028
- The high-end
device segment accounted for over 58% of the total revenue share in 2020.
This growth can be attributed to the significant investments made by the
industry players in high-end devices as they offer better-quality unified
self-contained tracking
- Based on the
product, the standalone segment is anticipated to witness the fastest CAGR
of over 30% from 2021 to 2028 owing to the ability of these products to
provide steady spatial orientation and location recognition with respect
to the realm coordinates of supplementary peripheral devices
- In 2020, Asia
Pacific accounted for the largest revenue share of around 40.0% and is
anticipated to continue to dominate the global market over the forecast
period
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Virtual Reality
Headset Market Segmentation
Grand View Research has
segmented the global virtual reality headset market on the basis of end-device,
product type, application, and region:
VR Headset
End-device Outlook (Revenue, USD Billion, 2016 - 2028)
- Low-end Device
- Mid-range Device
- High-end Device
VR Headset Product
Type Outlook (Revenue, USD Billion, 2016 - 2028)
- Standalone
- Smartphone-enabled
- Standalone PC-connected
VR Headset
Application Outlook (Revenue, USD Billion, 2016 - 2028)
- Gaming
- Healthcare
- Media & Entertainment
- Manufacturing
- Retail
- Education
- Telecommunications
- Others
VR Headset
Regional Outlook (Revenue, USD Billion, 2016 - 2028)
- North America
- U.S.
- Canada
- Mexico
- Europe
- U.K.
- Germany
- France
- Asia Pacific
- China
- Japan
- India
- South America
- Brazil
- Middle East & Africa
List of Key
Players of Virtual Reality (VR) Headset Market
- Carl Zeiss AG
- Facebook Technologies, LLC (Oculus)
- Google LLC
- HTC Corporation
- LG Electronics
- Microsoft
- Razer Inc.
- Samsung Electronics Co., Ltd.
- Sony Corporation
About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
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