Virtual Reality (VR) which is also known as Virtual Environments (VE) is a technology used in computer community interchangeably. It is a computer-generated 3D environment that allow the user to enter and interact with alternate realities. Increasing adoption of head-mounted displays (HMD) in gaming and entertainment sector coupled with advanced technology are the primary factors driving the virtual reality market. However, device compatibility and high initial cost may hamper the growth of virtual reality market.
In 2016, the virtual reality market was valued about USD 2.13 billion and it is expected to grow at CAGR of around 56.21% for the forecast 2017 to 2024. So, the virtual reality market is expected to grow at around USD 75.39 billion by 2024. The report gives detailed segments analysis of virtual reality market in which the report describes the market into device type, components, application and regional segments. For that, the analysts have considered the present and future trends and the market are estimated from 2016 to 2024. The report included a detailed competitive scenario and portfolio of leading vendors operating in Virtual Reality market all across the world. To understand the competitive landscape in the Virtual Reality market, an analysis of Porter’s Five Forces model for the Virtual Reality market has also been covered. The study also gives a market attractiveness analysis, wherein the application and regional segments are benchmarked based on their market size, growth rate and general attractiveness for Virtual Reality market. In addition, report also describes the drivers, restraints and future opportunities along with their impact as from 2014 to 2024.