Global Virtual Reality (VR) Market 2018-2023: Revenue is Expected to Grow at 54.84% CAGR

DUBLIN, November 23, 2017 /PRNewswire/ --

The "Virtual Reality (VR) Marketplace: VR Technologies, Companies, Solutions, Devices, Components, Applications and Services 2018 - 2023" report has been added to Research and Markets' offering.

Overall global VR revenue is expected to grow at 54.84% CAGR from 2018 to 2023.

Previously encumbered by a combination of technology gaps and consumer readiness issues, Virtual Reality is poised for considerable global growth, providing abundant opportunities for service providers, content developers, and ecosystem component providers.

Anticipated VR growth is driven by a few important factors including an anticipated precipitative price decline for consumer headsets, which will spur VR device adoption and facilitate VR application and content development to reach an inflection point.

It is important to note that Virtual Reality and other immersive technologies will also be important to many industry verticals that leverage VR and mixed reality for a variety of enterprise purpose including internal operations, managing supply chains, and supporting customers. Important industry verticals include commercial real estate management, automotive, public safety, education and training. The leading sector is anticipated to be Education and Training, which is expected to grow to $2.2B USD in revenue by 2023.

Thanks to low-cost VR device options such as Google Cardboard, consumers are becoming increasingly aware of Virtual Reality and immersive technologies in general. Untethered, high bandwidth VR is another important market driver. The publisher expects to see mass adoption of full-featured, mobile supported, and fully immersive VR technologies coincident with commercial deployment of 5G. The advent of Mobile Edge Computing (MEC) is also anticipated to have a substantial impact on VR as MEC will provide much-needed computational optimization, especially for LTE only coverage areas and while roaming.

This research provides an in-depth assessment of the VR market including the following:

• Analysis of VR ecosystem and role of value chain partners
• Evaluation of recent VR patent filings and intellectual property
• Analysis of current price metrics VR devices, apps, and content
• Assessment of key VR companies and solutions with SWOT analysis
• Analysis of emerging business models and evolution of VR monetization
• Analysis of VR component market: devices, software, hardware, platforms
• Analysis of key VR growth drivers, market challenges, and emerging opportunities

Forecasts in Report

Shipment forecasts in the report include:

• Global and regional shipment forecasts for VR device and active users 2018 - 2023
• Global shipment forecasts by VR app type (consumer, enterprise, industrial) 2018 - 2023
• Global shipment forecasts for VR sensor, displays, and components by H/W and S/W 2018 - 2023
• Global shipment forecasts by VR enterprise app (simulation and training, education, etc.) 2018 - 2023
• Global shipment forecasts by VR industrial app (Geospatial Mining, Disaster Management, etc.) 2018 - 2023

Revenue forecasts in the report include:

• Global and regional VR hardware revenue by device and components 2018 - 2023
• Global and regional VR revenue forecasts for service and content revenue 2018 - 2023
• Global and regional VR revenue forecasts by H/W, S/W, service, and content 2018 - 2023
• Global and regional VR revenue for services by segment (simulation, apps, etc.) 2018 - 2023
• Global and regional VR revenue by software component (Reality Engine, 3D Modeling, etc.) 2018 - 2023
• Global and regional VR revenue by device segment (Head Mounted Display, Heads Up Display, etc.) 2018 - 2023
• Global and regional VR revenue by gesture control device (Haptic Gloves and Suits, Controllers, etc.) 2018 - 2023

The above listed forecasts are merely a sampling as there are many more. In addition, purchase of this report includes time with an expert analyst who will help you link key findings in the report to the business issues you're addressing. This needs to be used within three months of purchasing the report.

Select Report Findings:

• Global VR revenue will grow with CAGR of nearly 55% from 2018 - 2023
• Fully immersive VR systems will begin to gain substantial momentum by 2021
• Robust growth of VR headsets will be seen in both high-end and mid-tier adoptions
• More than 50% of new VR investment will be for apps to solve industry-specific problems
• VR industry remains bifurcated between components/solutions for industry vs. consumer apps
• Sony is anticipated to become fastest growing company in terms of VR content development with 4X increase from 2017 to 2023

Report Benefits:

• VR Forecasts 2018 - 2023
• VR Future and Roadmap 2018 - 2023
• Identify the impact of VR in major industries
• Identify market drivers for VR commercialization
• Understand AR and VR convergence and mixed reality
• Recognize the impact of supporting tech such as 5G and MEC on VR

Target Audience:

• Virtual reality companies
• Electronics manufacturers
• Network service providers
• Regulatory and policy groups
• Artificial intelligence providers
• Application and content providers

Companies Mentioned

• 3D Systems Simbionix
• Alcatel Mobile
• Analog Devices Inc.
• AppliedVR
• Atmel Corporation
• Avegant Corp.
• BARCO
• CAE Healthcare
• Cyber Glove Systems
• Cypress Semiconductor Corp
• EON Reality Inc.
• Facebook
• Firsthand Technology (Deepstream VR)
• FOVE Inc.
• GE Healthcare
• Google Inc.
• HTC Corporation
• Huawei Technologies
• Integrated Device Technology Inc.
• Intel Corporation
• Leap Motion Inc.
• LG Corporation
• Magic Leap
• Maxim Integrated
• Mazor Robotics
• Microsoft Corporation
• Mimic Technologies
• MindMaze
• MYO
• NextVR
• NGRAIN Corporation
• Niantic Inc.
• NKK Switches
• Nokia StarGazing VR Application
• Nvidia Corporation
• NXP
• Oculus VR, LLC
• Open Source Virtual Reality (OSVR)
• Osterhout Design Group (ODG)
• Philips Healthcare
• Qualcomm Inc.
• Rohm Semiconductor
• Samsung Electronics Co. Ltd.
• Semtech Corporation
• SenseVirtual
• Sensics Inc.
• Siemens Healthineers
• Sixense Entertainment Inc.
• SK Telecom
• Sony Corporation
• StreamVR
• Texas Instruments
• Unity Technologies
• Valve Corporation
• VIRTALIS
• VirtaMed AG
• Virtual Reality Company (VRC)
• Virtually Better Inc.
• VREAL
• Vuzix Corporation
• Wevr
• WorldViz
• Zeiss VR One
• ZTE Corporation

For more information about this report visit https://www.researchandmarkets.com/research/whsf88/virtual_reality

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