Virtual Reality (VR) Headset Market Report: Trends, Competitive Analysis and Forecast till 2027
Research Reports
Apr 07, 2022
Market Highlights
Virtual Reality Headsets are increasingly becoming household stuff. The wide adoption of VR headsets across the sectors indicates its ability, which is not limited to enabling 3D experience in gaming, music, movies, or traveling. They have also widely penetrated burgeoning industries such as defense and healthcare. In the military sector, a VR Headset along with its other scientific applications, is used to improve mental and health training programs.
The global Virtual Reality (VR) Headset Market is one of the fastest growing markets. Innovations in VR headsets led by the advances in technology and expertise commutatively support the growth of the global VR headset market escorting it to ascended levels on the global platform. According to an eminent research firm, Market Research Future (MRFR), the global virtual reality headset market would reach approximately USD 5 BN by 2022, posting a whopping double-digit CAGR over 35 % throughout the forecast period (2016 – 2022).
Healthcare sector is an early adopter of virtual reality technology and has been using VR technology as a diagnostic tool which enables doctors to arrive at a diagnosis in conjunction with other methods such as MRI scans to eliminate the further need for invasive procedures or surgery. Now, the sector also accounts for one of the early adaptors of VR headsets, using it for surgery simulation, phobia treatment, robotic surgery, and skills training, among others.
Besides, VR headsets are also used in a technique called virtual mirror therapy, which involves putting on a VR headset and controlling a virtual version of the absent limb which is increasingly helping patients to better cope-op with the “phantom pain”. This phenomenal research was brought forward by a group of students at San Francisco State in mid-2017.
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Segmentation:
For a better understanding, the report has been segmented into four key dynamics:
By Component: Comprises Controller, Head mounted display.
By Application: Comprises Automobile, Healthcare, Consumer electronics, Gaming Industry and other.
By Type: Comprises Handheld, PC connection, Smartphone enabled.
By Regions: Asia Pacific, North America, Europe, and the Rest-of-the-World.
Regional Analysis:
North American region would retain its dominance over the global virtual reality headsets market. Technological advancements and increasing uptake in the education and training sector are some of the factors driving the regional market. Also, the growing investment in technologies and high demand by films, education system, and military to develop and improve visual experience fosters the market growth in the region. Moreover, early adoption of the latest cutting-edge VR technologies assures region an edge over other regions.
The Asia Pacific region virtual reality headsets market is rapidly emerging as a profitable market, globally. Considerable advancements in related technologies and the availability of futuristic yet cost-competitive technologies are key driving force behind the growth, the market in the region is witnessing. Also, the increasing adoption of virtual reality headsets across government and commercial sectors for various purposes provides impetus to the growth of the regional market.
Virtual Reality Headsets Market – Competitive Landscape
Highly competitive, the VR headsets market appears to be diversified due to the presence of a large number of players. These players invest heavily in R&D, global expansion, advanced technologies, and product launch to gain a competitive edge in the market.
Major Players:
Players leading the global VR headsets market include Samsung electronics Ltd. (South Korea), Sony Corporation (Japan), HTC Corporation (Taiwan), Google (US), Facebook (U.S.), Microsoft Corporation (US), Oculus VR, LLC (US), Fove, Inc. (US), Avegant Corporation (US), and LG Electronics, Inc. (South Korea), and among others.
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