VR has been around for over six decades, in one form or another, but is still not a mainstream technology. Both VR hardware and software have evolved significantly in recent years, but issues like latency, nausea, high prices, privacy concerns, and a dearth of compelling content prevent widespread adoption. While technologies such as 5G, cloud services, and motion tracking are used to address latency and nausea issues, improving content and developing effective data privacy practices will be paramount for VR's success. VR will be a key technology in the future of work, and the development of enterprise-grade metaverse platforms will further enhance its appeal.
- The global VR market, worth nearly $5bn in 2020, will generate revenues of $51bn by 2030, expanding at a compound annual growth rate (CAGR) of 27% over the 10-year period, according to GlobalData forecasts.
- The market remains heavily gaming-oriented, but VR is gaining traction in areas such as social media and live streaming. Consumer-focused VR companies are striving for a semi-mythical killer app that would make VR a mainstream hit. Meanwhile, VR headset makers are increasingly exploring growth among enterprises.
- This report provides an overview of the virtual reality theme.
- It identifies the key trends impacting growth of the theme over the next 12 to 24 months, split into four categories: technology trends, macroeconomic trends, regulatory trends, and media trends.
- It includes comprehensive industry analysis, including forecasts for virtual reality revenues to 2030. These forecasts are split by end-user (consumer and enterprise) and platform (hardware and software). There is also market share information for the VR headsets markets.
- It contains details of M&A deals driven by the virtual reality theme, and a timeline highlighting milestones in the development of virtual reality.
- The detailed value chain shows comprises five segments: semiconductors, components, headsets, platforms, and applications and content. Leading and challenging vendors are identified across all five segments.
Reasons to Buy
- Tech companies are constantly working on expanding the VR ecosystem and positioning it as a next-generation computing platform; VR will be a key enabler of the metaverse, an emerging mega-theme that could revolutionize digital media.
- This report tells you need to know about VR, including market forecasts to 2030 and profiles of the leading companies.