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Virtual Reality Market Trends

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Report ID: 160
Published Date: Sep 05, 2024
Report Format: PDF, PPT

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Virtual Reality Market Trends

Growth Drivers

Increasing Use of HMDs in Entertainment & Gaming Sector
Growing Investments by Technology Vendors for Virtual Reality Applications

Challenges

Cost Limitations and Reduced Face-to-Face Communications in VR

Virtual Reality Market: Key Insights

Base Year	2023
Forecast Year	2024–2036
CAGR	27.4%
Base Year Market Size (2023)	USD 24.51 billion
Forecast Year Market Size (2036)	USD 570.88 billion
Regional Scope	North America (U.S., and Canada) Latin America (Mexico, Argentina, Rest of Latin America) Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific) Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe) Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)

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Browse Key Market Insights with Data Illustration:

Virtual Reality Market Size & Share, Growth Report 2036

Author Credits: Abhishek Verma

Report ID: 160
Published Date: Sep 05, 2024
Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

In the year 2024, the industry size of virtual reality is assessed at USD 29.88 billion.

Virtual Reality Market size was over USD 24.51 billion in 2023 and is projected to exceed USD 570.88 billion by 2036, growing at over 27.4% CAGR during the forecast period i.e., between 2024-2036. The market growth is impelled by increasing use of HMDs in entertainment & gaming sector and growing investments by technology vendors for virtual reality applications.

Asia Pacific is expected to dominate majority revenue share by 2036, on the back of hike in launch of affordable VR devices by local companies in countries, namely China and India.

The major players in the market are Facebook Technologies, LLC, Sony Corporation, Samsung Electronics Co. Ltd., Lenovo Group Ltd, Google LLC, and others.

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