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

Press Releases

Nov 23, 2017

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: