Virtual Reality Headsets Market Research Report- Forecast till 2022
Market Highlights
As per the growth rate is concerned, the Virtual Reality Headset Market is forecasted to grow up to USD $5 Billion by the end of the year 2022 with a growth CAGR rate of more than 35%.
Apart from the extensive applications across workplaces, online events and shopping, virtual reality has also been a prominent influencer in the education sector. During these uncertain times and the growing chaos due to COVID-19, colleges and schools are increasingly adopting advanced tools that can help the students grasp more with an immersive experience. Out of a variety of tools, virtual reality headsets are in great demand among students. Also, in a bid to leverage the opportunity post the COVID-outbreak, many players are stepping up their game by developing and launching new and more advanced VR headsets in the market.
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Regional Insight
Europe, APAC or Asia Pacific, North America, and Rest of the World or RoW are the key regions where the VR Headsets Market is expected to expand from 201 to 2022.
North America is presently the leading market for virtual reality headsets, as a result of the high spending on the latest technologies and the high consumption of VR headsets in education system, and films to enhance the visual experience. The deployment of VR headsets is also quite high in industries such as advertising, automotive as well as military and law enforcement, especially in the United States/US. The massive pool of smart phone users and the high awareness level regarding the next-generate technologies like AR and VR work in the market’s favor in the region.
The APAC market can observe a smooth run in the near future at the highest rate, on account of the surge in technological innovations and the rising use of smart devices like VR headsets in diverse applications such as military, films and education to facilitate a better visual experience. Many countries in the region are coping up with the aftereffects of the COVID-19 outbreak, with a number of players trying to leverage the opportunities that have emerged due to the pandemic. To cite a point, in July 2020, SK Telecom (South Korea) launched Jump Studio, with expertise in the development of mixed reality/MR content. This MR content combines the capabilities of both VR and AR technologies. The customers are able to wear the MR headset to experience a 3D view of the content. This way, the mobile company has managed to turn the pandemic into a lucrative opportunity by benefitting from the capabilities of VR to draw in more customers.
Segmentation:
Virtual reality headsets market has been considered for type, component and application in the MRFR report.
The key types of VR headsets are smartphone enabled, PC-connected, Handheld, and more.
The market categories, depending on component, include stereo sound system, Head-mounted display, controllers, display screen and head motion tracking sensor, among others.
The primary applications are healthcare, consumer electronics, automobile, education, games & entertainment, and more.
Leading Market Contenders
The leading market contenders are Avegant Corporation (U.S.), Fove, Inc. (U.S.), Microsoft Corporation (U.S.), Oculus VR, LLC (U.S.), LG Electronics, Inc. (South Korea), Google (U.S.), Samsung Electronics Ltd. (South Korea), Sony Corporation (Japan), HTC Corporation (Taiwan), Facebook (U.S.), to list a few.
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Global Virtual Reality (VR) Headsets Market, by Type (Handheld, PC connection, Smartphone enabled), by Component (Controller, Head mounted display), by Application (Automobile, Healthcare, Consumer electronics, Gaming Industry) - Forecast 2022
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