Global Virtual Reality Market Report 2023-2028: Largest VR Verticals will be Automation, Aerospace, Construction, Education, and Healthcare
DUBLIN, March 8, 2023 /PRNewswire/ -- The "Virtual Reality Market by Segment, Equipment, Applications and Solutions 2023 - 2028" report has been added to ResearchAndMarkets.com's offering.
This report assesses the virtual reality market including an analysis of the VR ecosystem and the role of value chain partners, evaluation of VR intellectual property, and an analysis of VR devices, apps, and content.
The report also provides an assessment of key VR companies and solutions, an analysis of emerging business models, and more. In terms of virtual reality market hardware, this VR market report covers fully immersive headgear, semi-immersive large screens, non-immersive desktops, and other smaller screens.
The purpose of VR technology is to provide a near-real experience using reality emulation in a virtual environment. The VR market is poised to experience a massive transformation over the next three to five years driven by advances in devices, apps, components, content, and broadband communication.
We see fully immersive virtual reality systems gaining substantial market momentum in consumer and enterprise markets within the next few years. These VR systems will provide an unprecedented digital experience for humans, often including multiple senses as well as interaction with virtual objects and/or interaction between the real and virtual worlds.
Virtual Reality in the Consumer Market
For the consumer virtual reality market, we see entertainment and lifestyle enhancements leading the way with the former including VR-enhanced gaming and the latter including a plethora of new apps such as virtual location experiences in which groups of people get together virtually in the cyber-world.
Examples include everything from virtual alumni events to watching your favorite football team play in a virtual stadium with ultra-real sights, sounds, and even feelings and smells of game day. The advancement of AI embedded within the VR market will add to the realism by introducing random events that happen within a given experience.
Virtual Reality in Enterprise and Industrial Verticals
For enterprise and industrial virtual reality market segments, we see simulations and training leading the way. We see everything from situational training (such as Verizon using Striver to train its employees how to better deal with robberies) to more traditional expectations such as VR-enhanced simulations for flight and vehicle training.
Businesses will also seek to use VR as a means to destress employees by offering them a virtual experience of their everyday work with random events thrown into the mix, both to add interest/amusement as well as to test and train them to see how they might react given a real-world experience such as how to best deal with a senile shoplifter.
Virtual Reality and the Importance of 5G and Edge Computing
We anticipate that the virtual reality market will gain substantial ground once 5G is more firmly in place commercially, but not entirely due to wireless broadband. Instead, we see a massive build-out of broadband as a whole (due to competition from the 5G market) as one of the fundamental drivers for VR adoption. This will be driven in part by substantially greater availability of FTTX and HFC as well as greater bandwidth overall at lower costs.
We see 5G acting as a launch pad for enhanced consumer wireless services such as augmented reality, virtual reality, and cloud gaming. Previously encumbered by a combination of technology gaps and consumer readiness issues, the virtual reality market i poised for substantive global growth, providing abundant opportunities for service providers, content developers, and ecosystem component providers. While today many apps and services within the XR universe are very device dependent and network-constrained, convergence is on the horizon from a device perspective as well as substantial opportunities through untethering via 5G and Mobile Edge Computing (MEC).
MEC will be particularly important in support of latency-sensitive apps and services for various consumer, enterprise, and industrial use cases. This will be particularly the case for VR portability, and to some extent, mobility to the extent that there is good 5G coverage. Substantially lower latency facilitated by the combination of 5G and MEC will lead to many new and enhanced applications. For example, VR-based telepresence will ultimately become the norm, starting with private enterprise solutions and the SMB markets through the likes of Zoom.
Through Voice over 5G (Vo5G), there will also be support for Ultra High Definition (UHD) audio communications, streaming video and ultra-clear voice communication for next generation virtual reality applications and services. Vo5G will benefit VR for consumer and enterprise applications in many respects such as UHD becoming the norm in immersive experiences. We see Vo5G ultimately replacing VoLTE as a preferred method for voice communication as well as acting as the input medium for a wide variety of user interfaces, many of which currently rely upon WiFi.
Select Report Findings:
- Carriers must build out 5G and edge computing to support consumer VR
- Enterprise virtual reality applications USA market will surpass $9.4B by 2028
- Cloud-based VR solutions will be dominant compared to premise-based solutions
- Government use of virtual reality in support of USA smart cities will reach $457M by 2028
- Largest VR verticals will be automation, aerospace, construction, education, and healthcare
Key Topics Covered:
1.0 Executive Summary
2.1 Defining Virtual Reality
2.1.1 Virtual Reality Systems
2.1.2 Virtual Reality System Architecture
2.2 Virtual Reality Market Drivers
2.2.1 Increasing Popularity of Immersive Vision
2.2.2 Usability to Increase Adoption of VR Devices
2.2.3 VR Functions Embedded in Devices
2.2.4 Application in Training and Simulation
2.2.5 Increasing Affordability of Devices and Components
2.2.6 VR in Enterprise and Industrial Settings
2.3 Virtual Reality Market Challenges
2.3.1 Adverse Impact on User Health
2.3.2 Fully Immersive VR is Costly
2.3.3 Ensuring Usability in Design and Tracking
2.3.4 High Energy Consumption
2.4 Virtual Reality Market Opportunities
2.4.1 VR Investment Trends
2.4.2 VR Mergers and Acquisitions
2.4.3 VR Complements Mixed Reality
2.4.4 VR in Defense and Homeland Security
2.4.5 VR and Telepresence Apps
2.4.6 VR meets Immersive Social Platforms
2.4.7 VR in Drone Operation and Telerobotics
2.4.8 VR in Pornography Industry
2.4.9 VR Accelerates 3D TV and Printing
2.4.10 VR in Life Saving Applications
2.4.11 VR Opportunities for Network Operators
2.4.12 5G to take Haptic VR Experience Mainstream
2.5 Virtual Reality Patent Analysis
2.6 Virtual Reality Market Ecosystem
2.7 Virtual Reality Business Models
2.7.1 Subscription Services
2.7.2 Pay-Per-Experience Model
2.8 Value Chain Analysis
2.8.1 Device Manufacturers
2.8.2 Component Manufacturers
2.8.3 Software Solution Providers
2.8.4 VR Service Suit Providers
2.8.5 VR Content Providers
2.8.6 End Users
3.0 Virtual Reality Technology and Application Analysis
3.1 VR Technology
3.1.1 Non-Immersive Technology
3.1.2 Semi-Immersive Technology
3.1.3 Fully Immersive Technology
3.2 Virtual Reality Devices
3.2.1 Head Mounted Displays
3.2.2 Gesture Tracking Devices
3.2.3 Projectors and Display Walls
3.2.4 Heads-Up Displays
3.3 Virtual Reality Hardware Components
3.3.2 Semiconductor Component
3.3.3 Audio Hardware
3.4 Virtual Reality Software Market
3.4.1 Virtual Reality Applications
3.4.2 Software Component
3.5 Virtual Reality Services Market
3.5.1 Simulation Services
3.5.2 Application Store Services
3.5.3 Deployment and Management Services
3.6 Virtual Reality Content Marketing
3.6.1 Games and Entertainment
3.6.2 Virtual Reality, Video, and an Emphasis on Instructional Content
3.6.3 Virtual Reality Theme Parks: An Immersive Experience
3.6.4 Virtual Reality Content Developer Engagement
3.7 Virtual Reality Platforms
3.8 Virtual Reality Market Applications
3.8.1 VR Consumer Applications
3.8.2 VR Enterprise Applications
3.8.3 VR Industrial Applications
3.9 Regional Virtual Reality Markets
3.10 Virtual Reality and 5G
3.11 Virtual Reality Revenue Expectations
4.0 Virtual Reality Company Analysis
- Oculus VR, LLC (Meta)
- Sony Corporation
- Samsung Electronics Co. Ltd.
- HTC Corporation
- EON Reality Inc.
- Google Inc.
- Microsoft Corporation
- Vuzix Corporation
- Cyber Glove Systems
- Sensics Inc.
- Leap Motion Inc.
- Sixense Entertainment Inc.
- Avegant Corp.
- FOVE Inc.
- Open Source Virtual Reality (OSVR)
- Zeiss VR One
- Intel Corporation
- Alcatel Mobile
- ZTE Corporation
- Unity Technologies
- Magic Leap
- NVidia Corporation
- NGRAIN Corporation
- Osterhout Design Group
- Niantic Inc.
- Virtual Reality Company
- Meta (previously Facebook)
- Huawei Technologies
- Qualcomm Inc.
- SK Telecom
- LG Corporation
- Nokia StarGazing VR Application
- Analog Devices Inc.
- Atmel Corporation
- Cypress Semiconductor Corp
- Integrated Device Technology Inc
- Maxim Integrated
- NKK Switches
- Rohm Semiconductor
- Semtech Corporation
- Texas Instruments
For more information about this report visit https://www.researchandmarkets.com/r/a6fv8a
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Research and Markets
Laura Wood, Senior Manager
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
View original content:https://www.prnewswire.com/news-releases/global-virtual-reality-market-report-2023-2028-largest-vr-verticals-will-be-automation-aerospace-construction-education-and-healthcare-301765625.html
SOURCE Research and Markets
[ Back To Homepage ]