Global Virtual Reality Devices Market Size and Forecast 2023-2032| Google, Sony Corporation, Samsung Electronics Co.Ltd., Oculus VR LLC, Marxent Labs

Young man enjoying virtual reality video games

The Virtual Reality Devices Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2011-2022) and extends its insights into a ten-year forecast period (2024-2033).

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According to The Business Research Company’s Virtual Reality Devices Global Market Report 2024, The virtual reality devices market size has grown rapidly in recent years. It will grow from $13 billion in 2023 to $15.22 billion in 2024 at a compound annual growth rate (CAGR) of 17.1%. The growth in the historic period can be attributed to gaming and entertainment, training and simulation, healthcare and therapy, education and training.

The virtual reality devices market size is expected to see rapid growth in the next few years. It will grow to $25.57 billion in 2028 at a compound annual growth rate (CAGR) of 13.8%. The growth in the forecast period can be attributed to enterprise adoption, health and wellness, remote work and collaboration, mixed reality (mr), 5g connectivity. Major trends in the forecast period include wireless and standalone devices, social vr, health and comfort, hand and body tracking, content creation and user-generated content.

Rising demand for virtual reality devices in changing the traditional way of imparting safety trainings to employees is expected to drive the virtual reality devices market. Virtual Reality provides an effective and safe training environment for the employees in an organization. Traditional training method fail to recreate real time crisis scenarios while VR trainings create the real time crisis scenarios which helps a person to respond in a similar way to that of real time situations, thus providing effective and safe training to staff. It has resulted in fewer mistakes and better information recall than traditional trainings. For example, Ford uses virtual reality which simulates real-life situations to train its staff in a more receptive and effective way than training theoretically.

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The virtual reality devices market covered in this report is segmented –

1) By Type: Hand Held Devices; Head Mounted Devices; Gesture Controlled Devices; Other Types

2) By Technology: Semi & Fully Immersive; Non-immersive

3) By Application: Medical & Healthcare; Commercial; Education; Advertising & Marketing; Commerce; Energy & Utilities; Entertainment & Gaming; Designing & Engineering; Logistics; Other Applications

The virtual reality devices market report table of contents includes:

1. Executive Summary

2. Virtual Reality Devices Market Characteristics

3. Virtual Reality Devices Market Trends And Strategies

4. Virtual Reality Devices Market – Macro Economic Scenario

5. Global Virtual Reality Devices Market Size and Growth

26. South America Virtual Reality Devices Market

27. Brazil Virtual Reality Devices Market

28. Middle East Virtual Reality Devices Market

29. Africa Virtual Reality Devices Market

30. Virtual Reality Devices Market Competitive Landscape And Company Profiles

Top Major Players: