5G Virtual Reality Market Size

5G Virtual Reality Market size was valued at USD 3.28 billion in 2023 and is expected to exceed USD 213.9 billion by 2036, registering over 37.9% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of 5G virtual reality is evaluated at USD 4.27 billion. 

The growth of the market can be attributed to the growing demand for superior data connectivity and high-speed internet, and rising technological innovations in virtual reality technology. Along with these, increasing adoption of 5G network around the world coupled with exponential surge in data demands and escalating adoption of mobile edge computing are also expected to be crucial factors driving market growth in the forthcoming years. In 2020, more than 210 million people bought 5G smartphone subscriptions, which increased up to more than 1 billion by the end of the year 2022.  Furthermore, growth in deployment of gigabit ethernet fiber is projected to offer ample opportunities to service providers, content developers, and ecosystem component providers, which in turn is predicted to expand 5G virtual reality market growth in the near future.