The global VR market was .0 billion in 2018 and is expected to grow at a CAGR of over 30% during the forecast period 2019-2025. The VR market is mainly driven by the enhanced features of the technology, it has improved the performance of 3D multimedia. Increasing adoption of VR technology in various sectors such as training and education, automotive, healthcare, entertainment, and live events, is successfully implementing positive impacts on market growth. Moreover, increasing the smartphone consumer base & introduction of various applications on the smartphone is considerably driving the market growth. Technological advancement in VR technology along with its utilization in extreme training further augments the growth of the market.



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The report analyzes the global VR market on the basis of component, application, and geography. Based on the component, the market is segmented into hardware and software. On the basis of application, the market is classified into entertainment, gaming, training and education, defense, healthcare, and others. Amid the recent outbreak of COVID-19, where other industry verticals are facing a serious crisis, the VR industry is likely to garner significant revenue. According to the Hyderabad-based Imaginate, demand for VR solutions has spiked more than two and a half times in February 2020. Manufacturing companies generated more demand as this vertical need to constantly train their staff, however, they may not have the option to send physical trainers due to lockdown. Moreover, remote troubleshooting for high-end machinery is also driving the demand for VR gears in the manufacturing sector.





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Market Segmentation

Component
Hardware
Software

Application
Entertainment
Gaming
Training and Education
Defense
Healthcare
Other (Tourism)


Regional Analysis

North America
United States
Canada

Europe
UK
Germany
Italy
Spain
France
Rest of Europe

Asia-Pacific
China
India
Japan
Rest of Asia-Pacific

Rest of the World



Companies Studied
Apple Inc.
Unity Technologies SF
Facebook Inc.
Google LLC
HTC Corp.
Microsoft Corp.
Immersion Medical Inc.
Nvidia Corp.
Samsung Electronics Co., Ltd.
Sony Corp.
Magic Leap, Inc.
Worldviz LLC


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