Global Virtual Reality Headset Market size was US$ ~6.1 Bn in 2019 and is expected to reach US$ 28.97 Bn by 2027, at a CAGR of 21.5% during forecast period.
Virtual reality headset is generally known as VR headset, which is head-mounted device that provide virtual reality to the user. It gives virtual experience that can be similar or completely different from real world. It is a device worn over the eyes like a pair of goggles for the purpose of watching VR content.
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High investment in VR market is the major driver behind the growth of market. An increasing adoption of head mounted devices in gaming and entertainment sector is driving the growth of market. Benefits such as outstanding visualization, creation of realistic world, capability to explore various places with no cost, no risk, innovative and enjoyable experience and suitability for different learning styles are driving the growth of the market. Furthermore, availability of affordable VR headset, introduction of new technology and increasing digitalization are another major factor behind the growth of market. Also high adoption of VR headset in military and defense training leads to the growth of market
Complexity of the technology is the major restrainng factor that could hamper the growth of the market. Failure of delivering better quality of VR content to users could hinder the growth of market. Furthermore, health concerns related with low resolution, lack of head movement while watching VR content, time consuming development of VR headset are some of the restrain factors that could hamper the growth of market.
Global Virtual Reality Headset Market: Segmentation Analysis
By end device type, high end device segment dominated the market in 2018 owing to its high performance of the headset device. High end headset devices are mainly featured with latest attributes and advanced technology, which delivers better resolution and enjoyable experience to user. Many companies are investing in the high-end device; because they offer high quality integrated self-contained tracking and continuing investment in high end electronic products are driving the growth of market. However, high end device are much expensive. As a result, demand of low end and mid end devices segment are expected to witness the fastest growth during forecast period.
By product type, standalone VR segment dominated the VR headset market in 2018 and is expected to maintain its dominance at CAGR of XX% during forecast period. Standalone VR headset gives good quality experience in an affordable price. It is similar to a mobile VR headset, but it already includes all the required electronic parts, it already embeds the display, the processing power and all the other hardware inside, which results into the growth of market. The companies such as oculus VR and Qualcomm are working towards the standalone VR headset. Qualcomm is working on standalone wireless VR headsets that can also connect to PCs. Additionally, VR headset manufacturers such as Facebook Oculus, Samsung Gear, Google Cardboard, HTC Vive, and others gives a variety of application-oriented VR headsets with price variations.
Global Virtual Reality Headset Market: Regional Analysis
Region wise, North America dominated the market in 2018 and expected to maintain its dominance at CAGR of XX% during forecast period. The US and Canada are major contributors in the growth of market in region. This owing to the presence of big companies such as Oculus, Facebook, Google and Microsoft. Growing investment in VR market for film, military, defense, medical training and education system are driving the growth of market in region.
In January 2018, Oculus made an announcement of its new standalone VR headset in collaboration with Xiaomi and Qualcomm. This headset is mainly targeted for the Chinese market and will have reduced pricing than Rift.
The objective of the report is to present a comprehensive analysis of the Global Virtual Reality Headset Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global Virtual Reality Headset Market dynamics, structure by analyzing the market segments and projects the Global Virtual Reality Headset Market. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Virtual Reality Headset Market make the report investor’s guide.
The Scope of Global Virtual Reality Headset Market
Global Virtual Reality Headset Market, By End Device Type
• Low-end Device
• Mid-range Device
• High-end Device
Global Virtual Reality Headset Market, By Product Type
• Standalone PC-connected
Global Virtual Reality Headset Market, By Application
• Media & Entertainment
Global Virtual Reality Headset Market, By Region
• North America
• Asia Pacific
• South America
• Middle East & Africa
Global Virtual Reality Headset Market, Key Player
• Sony Corporation
• Samsung electronics ltd.
• HTC Corporation
• Microsoft Corporation
• Fove, Inc.
• Oculus VR, LLC
• LG Electronics, Inc
• Avegant Corporation
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