Global Virtual Reality (VR) Market 2024-2028

The virtual reality (VR) market is forecasted to grow by USD 64.72 bn during 2023-2028, accelerating at a CAGR of 28.3% during the forecast period. The report on the virtual reality (VR) market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.

The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by recent developments in virtual reality technologies, increased affordability of virtual reality gear, and growing consumer interest in virtual reality devices.

Market Scope
Base Year	2023
End Year	2028
Series Year	2024-2028
Growth Momentum	Accelerate
YOY 2024	27.45%
CAGR	28.3%
Incremental Value	$64.72bn

Technavio's virtual reality (VR) market is segmented as below:

By End-user

Enterprise
Consumer

By Component

Hardware
Software

By Geography

North America
APAC
Europe
Middle East and Africa
South America

This study identifies the integration of artificial intelligence (AI) and machine learning (ML) with virtual reality technology as one of the prime reasons driving the virtual reality (VR) market growth during the next few years. Also, the rise in popularity of metaverse in various sectors and an increasing number of social virtual reality spaces will lead to sizable demand in the market.

The report on the virtual reality (VR) market covers the following areas:

Virtual reality (VR) market sizing
Virtual reality (VR) market forecast
Virtual reality (VR) market industry analysis

The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading virtual reality (VR) market vendors including 3D Systems Corp., Advanced Micro Devices Inc., Alphabet Inc., Apple Inc., Baidu Inc., DPVR, HTC Corp., Lenovo Group Ltd., Meta Platforms Inc., Microsoft Corp., Osso VR Inc., Pico Technology Ltd., Samsung Electronics Co. Ltd., Sony Group Corp., StarVR Corp., Unity Software Inc., Valve Corp., Varjo Technologies Oy, Virtuix Inc., and FOVE Inc.. Also, the virtual reality (VR) market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape and an analysis of the key vendors.

The publisher presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources through an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast accurate market growth.

Product Code: IRTNTR71035

1 Executive Summary

1.1 Market overview
Exhibit 01: Executive Summary - Chart on Market Overview
Exhibit 02: Executive Summary - Data Table on Market Overview
Exhibit 03: Executive Summary - Chart on Global Market Characteristics
Exhibit 04: Executive Summary - Chart on Market by Geography
Exhibit 05: Executive Summary - Chart on Market Segmentation by End-user
Exhibit 06: Executive Summary - Chart on Market Segmentation by Component
Exhibit 07: Executive Summary - Chart on Incremental Growth
Exhibit 08: Executive Summary - Data Table on Incremental Growth
Exhibit 09: Executive Summary - Chart on Vendor Market Positioning

2 Market Landscape

2.1 Market ecosystem
Exhibit 10: Parent market
Exhibit 11: Market Characteristics

3 Market Sizing

3.1 Market definition
Exhibit 12: Offerings of vendors included in the market definition
3.2 Market segment analysis
Exhibit 13: Market segments
3.3 Market size 2023
3.4 Market outlook: Forecast for 2023-2028
Exhibit 14: Chart on Global - Market size and forecast 2023-2028 ($ billion)
Exhibit 15: Data Table on Global - Market size and forecast 2023-2028 ($ billion)
Exhibit 16: Chart on Global Market: Year-over-year growth 2023-2028 (%)
Exhibit 17: Data Table on Global Market: Year-over-year growth 2023-2028 (%)

4 Historic Market Size

4.1 Global virtual reality (VR) market 2018 - 2022
Exhibit 18: Historic Market Size - Data Table on global virtual reality (vr) market 2018 - 2022 ($ billion)
4.2 End-user Segment Analysis 2018 - 2022
Exhibit 19: Historic Market Size - End-user Segment 2018 - 2022 ($ billion)
4.3 Component Segment Analysis 2018 - 2022
Exhibit 20: Historic Market Size - Component Segment 2018 - 2022 ($ billion)
4.4 Geography Segment Analysis 2018 - 2022
Exhibit 21: Historic Market Size - Geography Segment 2018 - 2022 ($ billion)
4.5 Country Segment Analysis 2018 - 2022
Exhibit 22: Historic Market Size - Country Segment 2018 - 2022 ($ billion)

5 Five Forces Analysis

5.1 Five forces summary
Exhibit 23: Five forces analysis - Comparison between 2023 and 2028
5.2 Bargaining power of buyers
Exhibit 24: Chart on Bargaining power of buyers - Impact of key factors 2023 and 2028
5.3 Bargaining power of suppliers
Exhibit 25: Bargaining power of suppliers - Impact of key factors in 2023 and 2028
5.4 Threat of new entrants
Exhibit 26: Threat of new entrants - Impact of key factors in 2023 and 2028
5.5 Threat of substitutes
Exhibit 27: Threat of substitutes - Impact of key factors in 2023 and 2028
5.6 Threat of rivalry
Exhibit 28: Threat of rivalry - Impact of key factors in 2023 and 2028
5.7 Market condition
Exhibit 29: Chart on Market condition - Five forces 2023 and 2028

6 Market Segmentation by End-user

6.1 Market segments
Exhibit 30: Chart on End-user - Market share 2023-2028 (%)
Exhibit 31: Data Table on End-user - Market share 2023-2028 (%)
6.2 Comparison by End-user
Exhibit 32: Chart on Comparison by End-user
Exhibit 33: Data Table on Comparison by End-user
6.3 Enterprise - Market size and forecast 2023-2028
Exhibit 34: Chart on Enterprise - Market size and forecast 2023-2028 ($ billion)
Exhibit 35: Data Table on Enterprise - Market size and forecast 2023-2028 ($ billion)
Exhibit 36: Chart on Enterprise - Year-over-year growth 2023-2028 (%)
Exhibit 37: Data Table on Enterprise - Year-over-year growth 2023-2028 (%)
6.4 Consumer - Market size and forecast 2023-2028
Exhibit 38: Chart on Consumer - Market size and forecast 2023-2028 ($ billion)
Exhibit 39: Data Table on Consumer - Market size and forecast 2023-2028 ($ billion)
Exhibit 40: Chart on Consumer - Year-over-year growth 2023-2028 (%)
Exhibit 41: Data Table on Consumer - Year-over-year growth 2023-2028 (%)
6.5 Market opportunity by End-user
Exhibit 42: Market opportunity by End-user ($ billion)
Exhibit 43: Data Table on Market opportunity by End-user ($ billion)

7 Market Segmentation by Component

7.1 Market segments
Exhibit 44: Chart on Component - Market share 2023-2028 (%)
Exhibit 45: Data Table on Component - Market share 2023-2028 (%)
7.2 Comparison by Component
Exhibit 46: Chart on Comparison by Component
Exhibit 47: Data Table on Comparison by Component
7.3 Hardware - Market size and forecast 2023-2028
Exhibit 48: Chart on Hardware - Market size and forecast 2023-2028 ($ billion)
Exhibit 49: Data Table on Hardware - Market size and forecast 2023-2028 ($ billion)
Exhibit 50: Chart on Hardware - Year-over-year growth 2023-2028 (%)
Exhibit 51: Data Table on Hardware - Year-over-year growth 2023-2028 (%)
7.4 Software - Market size and forecast 2023-2028
Exhibit 52: Chart on Software - Market size and forecast 2023-2028 ($ billion)
Exhibit 53: Data Table on Software - Market size and forecast 2023-2028 ($ billion)
Exhibit 54: Chart on Software - Year-over-year growth 2023-2028 (%)
Exhibit 55: Data Table on Software - Year-over-year growth 2023-2028 (%)
7.5 Market opportunity by Component
Exhibit 56: Market opportunity by Component ($ billion)
Exhibit 57: Data Table on Market opportunity by Component ($ billion)

8 Customer Landscape

8.1 Customer landscape overview
Exhibit 58: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

9.1 Geographic segmentation
Exhibit 59: Chart on Market share by geography 2023-2028 (%)
Exhibit 60: Data Table on Market share by geography 2023-2028 (%)
9.2 Geographic comparison
Exhibit 61: Chart on Geographic comparison
Exhibit 62: Data Table on Geographic comparison
9.3 North America - Market size and forecast 2023-2028
Exhibit 63: Chart on North America - Market size and forecast 2023-2028 ($ billion)
Exhibit 64: Data Table on North America - Market size and forecast 2023-2028 ($ billion)
Exhibit 65: Chart on North America - Year-over-year growth 2023-2028 (%)
Exhibit 66: Data Table on North America - Year-over-year growth 2023-2028 (%)
9.4 APAC - Market size and forecast 2023-2028
Exhibit 67: Chart on APAC - Market size and forecast 2023-2028 ($ billion)
Exhibit 68: Data Table on APAC - Market size and forecast 2023-2028 ($ billion)
Exhibit 69: Chart on APAC - Year-over-year growth 2023-2028 (%)
Exhibit 70: Data Table on APAC - Year-over-year growth 2023-2028 (%)
9.5 Europe - Market size and forecast 2023-2028
Exhibit 71: Chart on Europe - Market size and forecast 2023-2028 ($ billion)
Exhibit 72: Data Table on Europe - Market size and forecast 2023-2028 ($ billion)
Exhibit 73: Chart on Europe - Year-over-year growth 2023-2028 (%)
Exhibit 74: Data Table on Europe - Year-over-year growth 2023-2028 (%)
9.6 Middle East and Africa - Market size and forecast 2023-2028
Exhibit 75: Chart on Middle East and Africa - Market size and forecast 2023-2028 ($ billion)
Exhibit 76: Data Table on Middle East and Africa - Market size and forecast 2023-2028 ($ billion)
Exhibit 77: Chart on Middle East and Africa - Year-over-year growth 2023-2028 (%)
Exhibit 78: Data Table on Middle East and Africa - Year-over-year growth 2023-2028 (%)
9.7 South America - Market size and forecast 2023-2028
Exhibit 79: Chart on South America - Market size and forecast 2023-2028 ($ billion)
Exhibit 80: Data Table on South America - Market size and forecast 2023-2028 ($ billion)
Exhibit 81: Chart on South America - Year-over-year growth 2023-2028 (%)
Exhibit 82: Data Table on South America - Year-over-year growth 2023-2028 (%)
9.8 US - Market size and forecast 2023-2028
Exhibit 83: Chart on US - Market size and forecast 2023-2028 ($ billion)
Exhibit 84: Data Table on US - Market size and forecast 2023-2028 ($ billion)
Exhibit 85: Chart on US - Year-over-year growth 2023-2028 (%)
Exhibit 86: Data Table on US - Year-over-year growth 2023-2028 (%)
9.9 China - Market size and forecast 2023-2028
Exhibit 87: Chart on China - Market size and forecast 2023-2028 ($ billion)
Exhibit 88: Data Table on China - Market size and forecast 2023-2028 ($ billion)
Exhibit 89: Chart on China - Year-over-year growth 2023-2028 (%)
Exhibit 90: Data Table on China - Year-over-year growth 2023-2028 (%)
9.10 Germany - Market size and forecast 2023-2028
Exhibit 91: Chart on Germany - Market size and forecast 2023-2028 ($ billion)
Exhibit 92: Data Table on Germany - Market size and forecast 2023-2028 ($ billion)
Exhibit 93: Chart on Germany - Year-over-year growth 2023-2028 (%)
Exhibit 94: Data Table on Germany - Year-over-year growth 2023-2028 (%)
9.11 UK - Market size and forecast 2023-2028
Exhibit 95: Chart on UK - Market size and forecast 2023-2028 ($ billion)
Exhibit 96: Data Table on UK - Market size and forecast 2023-2028 ($ billion)
Exhibit 97: Chart on UK - Year-over-year growth 2023-2028 (%)
Exhibit 98: Data Table on UK - Year-over-year growth 2023-2028 (%)
9.12 Japan - Market size and forecast 2023-2028
Exhibit 99: Chart on Japan - Market size and forecast 2023-2028 ($ billion)
Exhibit 100: Data Table on Japan - Market size and forecast 2023-2028 ($ billion)
Exhibit 101: Chart on Japan - Year-over-year growth 2023-2028 (%)
Exhibit 102: Data Table on Japan - Year-over-year growth 2023-2028 (%)
9.13 Market opportunity by geography
Exhibit 103: Market opportunity by geography ($ billion)
Exhibit 104: Data Tables on Market opportunity by geography ($ billion)

10 Drivers, Challenges, and Trends

10.1 Market drivers
10.2 Market challenges
10.3 Impact of drivers and challenges
Exhibit 105: Impact of drivers and challenges in 2023 and 2028
10.4 Market trends

11 Vendor Landscape

11.1 Overview
11.2 Vendor landscape
Exhibit 106: Overview on Criticality of inputs and Factors of differentiation
11.3 Landscape disruption
Exhibit 107: Overview on factors of disruption
11.4 Industry risks
Exhibit 108: Impact of key risks on business

12 Vendor Analysis

12.1 Vendors covered
Exhibit 109: Vendors covered
12.2 Market positioning of vendors
Exhibit 110: Matrix on vendor position and classification
12.3 Baidu Inc.
Exhibit 111: Baidu Inc. - Overview
Exhibit 112: Baidu Inc. - Business segments
Exhibit 113: Baidu Inc. - Key offerings
Exhibit 114: Baidu Inc. - Segment focus
12.4 DPVR
Exhibit 115: DPVR - Overview
Exhibit 116: DPVR - Product / Service
Exhibit 117: DPVR - Key offerings
12.5 HTC Corp.
Exhibit 118: HTC Corp. - Overview
Exhibit 119: HTC Corp. - Product / Service
Exhibit 120: HTC Corp. - Key offerings
12.6 Lenovo Group Ltd.
Exhibit 121: Lenovo Group Ltd. - Overview
Exhibit 122: Lenovo Group Ltd. - Business segments
Exhibit 123: Lenovo Group Ltd. - Key offerings
Exhibit 124: Lenovo Group Ltd. - Segment focus
12.7 Meta Platforms Inc.
Exhibit 125: Meta Platforms Inc. - Overview
Exhibit 126: Meta Platforms Inc. - Product / Service
Exhibit 127: Meta Platforms Inc. - Key offerings
12.8 Microsoft Corp.
Exhibit 128: Microsoft Corp. - Overview
Exhibit 129: Microsoft Corp. - Business segments
Exhibit 130: Microsoft Corp. - Key news
Exhibit 131: Microsoft Corp. - Key offerings
Exhibit 132: Microsoft Corp. - Segment focus
12.9 Osso VR Inc.
Exhibit 133: Osso VR Inc. - Overview
Exhibit 134: Osso VR Inc. - Product / Service
Exhibit 135: Osso VR Inc. - Key offerings
12.10 Pico Technology Ltd.
Exhibit 136: Pico Technology Ltd. - Overview
Exhibit 137: Pico Technology Ltd. - Product / Service
Exhibit 138: Pico Technology Ltd. - Key offerings
12.11 Samsung Electronics Co. Ltd.
Exhibit 139: Samsung Electronics Co. Ltd. - Overview
Exhibit 140: Samsung Electronics Co. Ltd. - Business segments
Exhibit 141: Samsung Electronics Co. Ltd. - Key news
Exhibit 142: Samsung Electronics Co. Ltd. - Key offerings
Exhibit 143: Samsung Electronics Co. Ltd. - Segment focus
12.12 Sony Group Corp.
Exhibit 144: Sony Group Corp. - Overview
Exhibit 145: Sony Group Corp. - Business segments
Exhibit 146: Sony Group Corp. - Key news
Exhibit 147: Sony Group Corp. - Key offerings
Exhibit 148: Sony Group Corp. - Segment focus
12.13 StarVR Corp.
Exhibit 149: StarVR Corp. - Overview
Exhibit 150: StarVR Corp. - Product / Service
Exhibit 151: StarVR Corp. - Key offerings
12.14 Unity Software Inc.
Exhibit 152: Unity Software Inc. - Overview
Exhibit 153: Unity Software Inc. - Product / Service
Exhibit 154: Unity Software Inc. - Key offerings
12.15 Valve Corp.
Exhibit 155: Valve Corp. - Overview
Exhibit 156: Valve Corp. - Product / Service
Exhibit 157: Valve Corp. - Key offerings
12.16 Varjo Technologies Oy
Exhibit 158: Varjo Technologies Oy - Overview
Exhibit 159: Varjo Technologies Oy - Product / Service
Exhibit 160: Varjo Technologies Oy - Key offerings
12.17 Virtuix Inc.
Exhibit 161: Virtuix Inc. - Overview
Exhibit 162: Virtuix Inc. - Product / Service
Exhibit 163: Virtuix Inc. - Key offerings

13 Appendix

13.1 Scope of the report
13.2 Inclusions and exclusions checklist
Exhibit 164: Inclusions checklist
Exhibit 165: Exclusions checklist
13.3 Currency conversion rates for US$
Exhibit 166: Currency conversion rates for US$
13.4 Research methodology
Exhibit 167: Research methodology
Exhibit 168: Validation techniques employed for market sizing
Exhibit 169: Information sources
13.5 List of abbreviations
Exhibit 170: List of abbreviations