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Virtual Reality Market Share, Future Growth And Forecast From 2020-2022

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Sep 18, 2020 (AmericaNewsHour) —
The Market is segmented on the basis of platform, component and technology verticals. The platform vertical comprises of Mobile, PC and Console. Among these the major revenue-contributor is the mobile gaming segment. Upcoming trends like the integration of VR and augmented reality in mobile games are expected to give high revenue to this segment. By component it is divided into Hardware and Software. With brand like Samsung, Oculus, and Sony stated to launch affordable VR Head Mounted Displays (HMDs) this segment is stated to continue its dominance.

Naturally, the definition of Virtual Reality is ‘Near-Reality’ although technically we can say that Virtual Reality describes a three-dimensional world which is generated by a computer-generated environment. This environment is free to be explored and interacted by a person. The person blends into this world of virtual reality and is able to manipulate objects and perform various actions.

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There are various range of systems which help us create this illusion of reality such as headsets, omni-directional treadmills, special gloves and lot more. To physically create the illusion of reality is more difficult to construct than it sounds. This is owing to the fact that our brain and senses are evolved to provide us a synchronized and mediated experience. Even if there is a minor glitch, we will be able to distinguish clearly. Thus, immersiveness and realism are the key factors in this technology. There are various commercial applications of this technology in high-performance computers, VR Games applications, consumer electronics, medical and many more.

Market Dynamics
The market is driven by declining prices of VR hardware. Due to the increase in usage of this technology, the prices of various VR components like the VR Headsets and VR cardboards are set to decline. The rising demand of smartphones will complement to the growing sales of VR devices. Further, VR Headsets are stated to be the next big thing in personal entertainment. However, lack of awareness about VR technology, high initial investment, compatibility issues with virtual reality devices with VR consoles pose a great challenge to an otherwise budding industry.

Regional/Geographic Analysis
The market was heavily dominated by the US this is owing to the extensive investment in the R&D and presence of several major players in this region. Lately, there has been a tremendous rise in the Asia Pacific region and is expected to grow faster as the technology has gained prominence owing to the launch of innovative VR headsets targeted for the booming VR gaming industry.

Key Players
Some of the major players in the market include Barco,Google, Microsoft, Facebook, Samsung, Qualcomm Vuforia, METAIO’s SDK, total immersion, Sony CyberGlove Systems LLC, -Oculus VR LLC, Alphabet, Inc., HTC Corporation and Leap Motion

Report ContentsRegional AnalysisReport Highlights
Market segments

Market Drivers, Restraints and Opportunities
Market Size & Forecast 2016 to 2022
Supply & Demand Value Chain
Market – Current Trends
Competition & Major Companies
Technology and R&D Status
Porters Five Force Analysis
Strategic and Critical Success Factor Analysis of Key Players

North America
US and Canada

Latin America
Mexico, Brazil, Argentina and Rest of Latin America

Western Europe
EU5 (Germany, France, Italy, Spain, U.K.)
Nordic Countries (Denmark, Finland, Norway, and Sweden)
Benelux (Belgium, The Netherlands, and Luxembourg)
Rest of Western Europe

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Eastern Europe
Rest of Eastern Europe

Asia Pacific
Australia and New Zealand
Rest of Asia Pacific

Middle East and Africa
GCC countries (Saudi Arabia, Oman, Qatar, Bahrain, UAE and Kuwait)
South Africa
North Africa
Rest of Middle East and Africa

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The post Virtual Reality Market Share, Future Growth And Forecast From 2020-2022 appeared first on America News Hour.


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