Immersive Virtual Reality Market

Immersive Virtual Reality Market by Devices (Projectors & Display Walls, Head-mounted Display, and Gesture Tracking Devices), Technology (Fully Immersive and Semi-immersive), Applications (Medical, Aerospace & Defense, Retail, Consumer Electronics, and Others), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028

  • Report ID: ICT-SE-3349
  • Author: Growth Market Reports
  • Rating: 4.8
  • Total Reviews: 2
  • No. Of Pages: 175
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The global immersive virtual reality market size was valued at USD 1.8 billion in 2020 and is anticipated to expand at a high CAGR during the forecast period, 2021–2028. The growth of the market is attributed to the launch of commercial virtual reality headsets.


Immersive Virtual Reality Market key takeaways

Virtual reality (VR) is the technology that delivers almost real experience in a virtual or synthetic way. The key goal of Immersive VR is to entirely engage the user inside the computer generated world, giving the impression that user has stepped inside the virtual world. The perception of being present physically in virtual world is created by surrounding the user with the VR system in sound, images, and other stimuli that provide an immersive environment. Immersive VR is widely used in industries, such as gaming, healthcare, architecture, automotive, and many other industries. In industries VR offers various benefits, in terms of virtual training, marketing, maintenance, and simulation activities.

The COVID-19 pandemic outbreak had considerable impact on the market. During the pandemic, emergency lockdown imposed by government resulted in the shortage of hardware required in VR, projects were delayed, and manufacturing plant halted their operations, which is affecting the market of immersive VR. However, the healthcare sector is adopting immersive VR head-mount display (HMD) technology to treat an exponentially growing number of infected patients worldwide.

Market Trends, Drivers, Restraints, and Opportunities

  • Rising demand for virtual training across industries is one of the key factors driving the market growth.
  • Increasing adoption of immersive VR in gaming industry worldwide is projected to boost the market during the forecast period.
  • Growing concern about latency and energy consumption by VR devices acts as a major challenge that can restrict the market growth in the coming years.
  • High cost of technology is expected to hamper the market growth during the projected timeline.
  • Introducing user-friendly VR system is anticipated to create significant growth opportunities for the market.

Scope of the Report

The report on the global immersive virtual reality market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes

Details

Report Title

Immersive Virtual Reality Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2020

Historic Data

2018–2019

Forecast Period

2021–2028

Segmentation

Devices (Projectors & Display Walls, Head-mounted Display, and Gesture Tracking Devices), Technology (Fully Immersive and Semi-immersive), and Applications (Medical, Aerospace & Defense, Retail, Consumer Electronics, and Others)

Regional Scope

Asia Pacific, North America, Latin America, Europe, and Middle East & Africa

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Key Players Covered in the Report

Sony Corp.; Magic Leap, Inc.; Microsoft Corp.; HTC Corp.; Samsung Electronics Co., Ltd.; Google LLC; and Meta Platforms, Inc.

 

Market Segment Insights

HMD segment to register a high CAGR

In terms of devices, the market is segregated into projectors & display walls (PDW), head-mounted display, and gesture tracking devices (GTD). The HMD segment is projected to register at high CAGR in the projected timeline owing to integration of HMD in VR gaming, such as VR video games. Moreover, the segment growth is further accelerated as HMD is used in entertainment field as well as it is used in various industries, such as healthcare, retail, and aerospace for training with the use of interactive virtual images. On the other hand, the GTD segment is anticipated to register a substantial CAGR during the forecast period attributed to increasing demand as visual gesture recognition is an emerging technology that enables more intuitive and immersive communication between humans and computers.

Rising implementation drives the semi-immersive segment

Based on technology, the global immersive virtual reality market is bifurcated into fully immersive and semi-immersive. The semi-immersive segment is expected to grow at a rapid pace during the forecast period due to the growing implementation of this technology by various devices, such as shutter glasses, motion devices, display walls, and projectors. However, the fully immersive segment is anticipated to expand at a substantial CAGR in the coming years owing to the technology offers direct experience of virtual environments.

Aerospace & defense segment to expand at robust growth rate

On the basis of applications, the market is divided into medical, aerospace & defense, retail, consumer electronics, and others. The aerospace & defense segment is estimated to expand at robust growth rate during the forecast period due to surge in adoption of immersive VR devices for military training and flight simulation. On the other hand, the healthcare segment is anticipated to expand at a substantial CAGR in the coming years attributed to the benefits offered by VR technology in sector, such as disease awareness, medical learning, training, and medical marketing. Furthermore, the healthcare professionals are using this technology in robotics surgery, diagnostics, and simulation, which is major driver of the segment.


Immersive Virtual Reality Market by applications

Asia Pacific to constitute a key market share

In terms of region, the global immersive virtual reality market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia Pacific is anticipated to constitute a key share of the market during the projected period owing to the increasing development in VR technology and the initiatives by government in the region, such as investments and funds to benefit VR firms. However, the market of North America is anticipated to grow at a rapid pace during the forecast period due to the rising adoption of immersive VR technology and presence of key global players in the region.


Immersive Virtual Reality Market by regions

Segments

Segments Covered in the Report
The global immersive virtual reality market has been segmented on the basis of

Devices

  • Projectors & Display Walls
  • Head-mounted Display
  • Gesture Tracking Devices
Technology
  • Fully Immersive
  • Semi-immersive
Solutions
  • Encryption Technologies
  • ID/IP
  • Antivirus
  • MDS
  • Application Control
  • Firewall
  • Others
Applications
  • Medical
  • Aerospace & Defense
  • Retail
  • Consumer Electronics
  • Others
Regions
  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa
Key Players
  • Sony Corp.
  • Magic Leap, Inc.
  • Microsoft Corp.
  • HTC Corp.
  • Samsung Electronics Co., Ltd.
  • Google LLC
  • Meta Platforms, Inc.

Competitive Landscape

Key players competing in the global immersive virtual reality market are Sony Corp.; Magic Leap, Inc.; Microsoft Corp.; HTC Corp.; Samsung Electronics Co., Ltd.; Google LLC; and Meta Platforms, Inc. Companies are focusing on developing and improving the technology to make it more sophisticated and to integrate it with devices such as tablets and smartphones in order to maintain their competitive position in the market. Furthermore, companies have been widely engaged in strategic partnership, merger & acquisition, new product launch, and collaborations to boost their market share and acquiring new buyers.

For instance, in September 2019, Infosys Ltd opened its Technology and Innovation Center in Arizona. The center includes a series of living labs, showcasing new prototypes in robotic technologies, VR, and augmented reality and will serves as a space to foster collaboration, co-creation, and training. In July 2019, DENSO International Asia Singapore partnered with EON Reality to provide a series of innovative VR training solutions for DENSO International Asia Singapore employees to reduce training cost.

Immersive Virtual Reality Market by key players

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Immersive Virtual Reality Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Immersive Virtual Reality Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Immersive Virtual Reality Market - Supply Chain
  4.5. Global Immersive Virtual Reality Market Forecast
     4.5.1. Immersive Virtual Reality Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Immersive Virtual Reality Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Immersive Virtual Reality Market Absolute $ Opportunity
5. Global Immersive Virtual Reality Market Analysis and Forecast by Applications
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Applications
     5.2.2. Y-o-Y Growth Projections by Applications
  5.3. Immersive Virtual Reality Market Size and Volume Forecast by Applications
     5.3.1. Medical
     5.3.2. Aerospace & Defense
     5.3.3. Retail
     5.3.4. Consumer Electronics
     5.3.5. Others
  5.4. Absolute $ Opportunity Assessment by Applications
  5.5. Market Attractiveness/Growth Potential Analysis by Applications
6. Global Immersive Virtual Reality Market Analysis and Forecast by Region
  6.1. Market Trends
  6.2. Introduction
     6.2.1. Basis Point Share (BPS) Analysis by Region
     6.2.2. Y-o-Y Growth Projections by Region
  6.3. Immersive Virtual Reality Market Size and Volume Forecast by Region
     6.3.1. North America
     6.3.2. Latin America
     6.3.3. Europe
     6.3.4. Asia Pacific
     6.3.5. Middle East and Africa (MEA)
  6.4. Absolute $ Opportunity Assessment by Region
  6.5. Market Attractiveness/Growth Potential Analysis by Region
  6.6. Global Immersive Virtual Reality Demand Share Forecast, 2019-2026
7. North America Immersive Virtual Reality Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
  7.2. North America Immersive Virtual Reality Market Size and Volume Forecast by Country
     7.2.1. U.S.
     7.2.2. Canada
  7.3. Absolute $ Opportunity Assessment by Country
  7.4. North America Immersive Virtual Reality Market Size and Volume Forecast by Applications
     7.4.1. Medical
     7.4.2. Aerospace & Defense
     7.4.3. Retail
     7.4.4. Consumer Electronics
     7.4.5. Others
  7.5. Basis Point Share (BPS) Analysis by Applications
  7.6. Y-o-Y Growth Projections by Applications
  7.7. Market Attractiveness/Growth Potential Analysis
     7.7.1. By Country
     7.7.2. By Product Type
     7.7.3. By Application
  7.8. North America Immersive Virtual Reality Demand Share Forecast, 2019-2026
8. Latin America Immersive Virtual Reality Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Latin America Average Pricing Analysis
  8.2. Latin America Immersive Virtual Reality Market Size and Volume Forecast by Country
      8.2.1. Brazil
      8.2.2. Mexico
      8.2.3. Rest of Latin America
   8.3. Absolute $ Opportunity Assessment by Country
  8.4. Latin America Immersive Virtual Reality Market Size and Volume Forecast by Applications
     8.4.1. Medical
     8.4.2. Aerospace & Defense
     8.4.3. Retail
     8.4.4. Consumer Electronics
     8.4.5. Others
  8.5. Basis Point Share (BPS) Analysis by Applications
  8.6. Y-o-Y Growth Projections by Applications
  8.7. Market Attractiveness/Growth Potential Analysis
     8.7.1. By Country
     8.7.2. By Product Type
     8.7.3. By Application
  8.8. Latin America Immersive Virtual Reality Demand Share Forecast, 2019-2026
9. Europe Immersive Virtual Reality Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Europe Average Pricing Analysis
  9.2. Europe Immersive Virtual Reality Market Size and Volume Forecast by Country
     9.2.1. Germany
     9.2.2. France
     9.2.3. Italy
     9.2.4. U.K.
     9.2.5. Spain
     9.2.6. Russia
     9.2.7. Rest of Europe
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Europe Immersive Virtual Reality Market Size and Volume Forecast by Applications
     9.4.1. Medical
     9.4.2. Aerospace & Defense
     9.4.3. Retail
     9.4.4. Consumer Electronics
     9.4.5. Others
  9.5. Basis Point Share (BPS) Analysis by Applications
  9.6. Y-o-Y Growth Projections by Applications
  9.7. Market Attractiveness/Growth Potential Analysis
     9.7.1. By Country
     9.7.2. By Product Type
     9.7.3. By Application
  9.8. Europe Immersive Virtual Reality Demand Share Forecast, 2019-2026
10. Asia Pacific Immersive Virtual Reality Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Asia Pacific Average Pricing Analysis
  10.2. Asia Pacific Immersive Virtual Reality Market Size and Volume Forecast by Country
     10.2.1. China
     10.2.2. Japan
     10.2.3. South Korea
     10.2.4. India
     10.2.5. Australia
     10.2.6. Rest of Asia Pacific (APAC)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Asia Pacific Immersive Virtual Reality Market Size and Volume Forecast by Applications
     10.4.1. Medical
     10.4.2. Aerospace & Defense
     10.4.3. Retail
     10.4.4. Consumer Electronics
     10.4.5. Others
  10.5. Basis Point Share (BPS) Analysis by Applications
  10.6. Y-o-Y Growth Projections by Applications
  10.7. Market Attractiveness/Growth Potential Analysis
     10.7.1. By Country
     10.7.2. By Product Type
     10.7.3. By Application
  10.8. Asia Pacific Immersive Virtual Reality Demand Share Forecast, 2019-2026
11. Middle East & Africa Immersive Virtual Reality Market Analysis and Forecast
  11.1. Introduction
     11.1.1. Basis Point Share (BPS) Analysis by Country
     11.1.2. Y-o-Y Growth Projections by Country
     11.1.3. Middle East & Africa Average Pricing Analysis
  11.2. Middle East & Africa Immersive Virtual Reality Market Size and Volume Forecast by Country
     11.2.1. Saudi Arabia
     11.2.2. South Africa
     11.2.3. UAE
     11.2.4. Rest of Middle East & Africa (MEA)
  11.3. Absolute $ Opportunity Assessment by Country
  11.4. Middle East & Africa Immersive Virtual Reality Market Size and Volume Forecast by Applications
     11.4.1. Medical
     11.4.2. Aerospace & Defense
     11.4.3. Retail
     11.4.4. Consumer Electronics
     11.4.5. Others
  11.5. Basis Point Share (BPS) Analysis by Applications
  11.6. Y-o-Y Growth Projections by Applications
  11.7. Market Attractiveness/Growth Potential Analysis
     11.7.1. By Country
     11.7.2. By Product Type
     11.7.3. By Application
  11.8. Middle East & Africa Immersive Virtual Reality Demand Share Forecast, 2019-2026
12. Competition Landscape
  12.1. Global Immersive Virtual Reality Market: Market Share Analysis
  12.2. Immersive Virtual Reality Distributors and Customers
  12.3. Immersive Virtual Reality Market: Competitive Dashboard
  12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     12.4.1. Sony Corp.
     12.4.2. Magic Leap, Inc.
     12.4.3. Microsoft Corp.
     12.4.4. HTC Corp.
     12.4.5. Samsung Electronics Co., Ltd.
     12.4.6. Google LLC
     12.4.7. Meta Platforms, Inc.

Segments Covered in the Report
The global immersive virtual reality market has been segmented on the basis of

Devices

  • Projectors & Display Walls
  • Head-mounted Display
  • Gesture Tracking Devices
Technology
  • Fully Immersive
  • Semi-immersive
Solutions
  • Encryption Technologies
  • ID/IP
  • Antivirus
  • MDS
  • Application Control
  • Firewall
  • Others
Applications
  • Medical
  • Aerospace & Defense
  • Retail
  • Consumer Electronics
  • Others
Regions
  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa
Key Players
  • Sony Corp.
  • Magic Leap, Inc.
  • Microsoft Corp.
  • HTC Corp.
  • Samsung Electronics Co., Ltd.
  • Google LLC
  • Meta Platforms, Inc.

Key players competing in the global immersive virtual reality market are Sony Corp.; Magic Leap, Inc.; Microsoft Corp.; HTC Corp.; Samsung Electronics Co., Ltd.; Google LLC; and Meta Platforms, Inc. Companies are focusing on developing and improving the technology to make it more sophisticated and to integrate it with devices such as tablets and smartphones in order to maintain their competitive position in the market. Furthermore, companies have been widely engaged in strategic partnership, merger & acquisition, new product launch, and collaborations to boost their market share and acquiring new buyers.

For instance, in September 2019, Infosys Ltd opened its Technology and Innovation Center in Arizona. The center includes a series of living labs, showcasing new prototypes in robotic technologies, VR, and augmented reality and will serves as a space to foster collaboration, co-creation, and training. In July 2019, DENSO International Asia Singapore partnered with EON Reality to provide a series of innovative VR training solutions for DENSO International Asia Singapore employees to reduce training cost.

Immersive Virtual Reality Market by key players

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