Global Virtual Reality Market 2017-2021: High VR App Development Costs is a Key Challenge

News provided by

Research and Markets

04 Oct, 2017, 12:00 BST

DUBLIN, Oct. 04, 2017 /PRNewswire/ --

The "Global Virtual Reality Market 2017-2021" report has been added to Research and Markets' offering.

The report forecasts the global virtual reality market to grow at a CAGR of 48.89% during the period 2017-2021.

The report, Global Virtual Reality Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

The latest trend gaining momentum in the market is the use of inside-out tracking technology in VR headsets. High-end headsets use external cameras and sensors that provide mobility to VR users. Some of the affordable mobile systems do not have any positional tracking. Inside-out tracking places cameras on the device that is being tracked and determines how its position changes in relation to the external environment. The movement in the headset is coordinated with the help of sensors. The technology provides freedom of space. The user is not restricted to a certain play space, which increases a user's mobility in the virtual world. The sensors in the headset can read cues such as depth and acceleration, which are then translated into virtual motion. Thus, mobile users and high-end camera users can do much more with their headsets, while being less prone to motion sickness in the process.

According to the report, one of the major drivers for this market is the declining prices of VR hardware. With the increasing adoption of VR technology, the prices of various VR hardware components, such as VR headsets and VR cardboards, are expected to decline during the forecast period. VR headsets could be the next generation of personal entertainment devices. The ASP of VR headsets was $519.23 in 2016, and it is expected to decline to $164.21 in 2021. This drastic decline in the ASP of VR headsets will likely boost the sales of these devices. VR headsets are expensive mainly because of their displays, which account for the majority of the manufacturing costs.

Further, the report states that one of the major factors hindering the growth of this market is the high VR app development costs. A VR project is a combination of several different components, which can be a bit complex. There are several cost factors to be considered while developing VR apps. They include the costs incurred during the creation and distribution of VR content and the cost of hardware and software. 360-degree cameras are used to create realistic panoramic content. The cost of creating a panoramic video is usually low compared with computer-generated graphics. The true value of VR games depends on the interactive content offered.

VR market vendors:

  • 360 Labs
  • Netflix
  • Samsung Electronics
  • Google
  • Koncept VR
  • Jaunt
  • OnePlus
  • PowisVR
  • Unofficial Cardboard
  • Mattel
  • Samsonite IP Holdings
  • Facebook (Oculus VR)
  • HTC
  • Open Source Virtual Reality
  • Sony
  • Zebronics
  • LG Electronics
  • CyberGlove Systems
  • NeuroDigital Technologies
  • Virtalis
  • Dexta Robotics
  • Synertial
  • Spinview Global
  • VRscape
  • AppReal
  • Erminesoft
  • Others

Key Topics Covered:

Part 01: Executive Summary

Part 02: Scope Of The Report

Part 03: Research Methodology

Part 04: Introduction

Part 05: Market Landscape

Part 06: Market Segmentation By Sector

Part 07: Market Segmentation By Platform

Part 08: Geographical Segmentation

Part 09: Key Leading Countries

Part 10: Decision Framework

Part 11: Drivers And Challenges

Part 12: Market Trends

Part 13: Vendor Landscape

Part 14: Appendix

For more information about this report visit https://www.researchandmarkets.com/research/2j6qg8/global_virtual

Media Contact:

Laura Wood, Senior Manager
press@researchandmarkets.com 

For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900

U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716

Related Links

http://www.researchandmarkets.com

SOURCE Research and Markets