Skip to main content

Enterprises to be the Key Market for Virtual Reality | GlobalData Plc

Written by Customer Service on . Posted in Public Companies.

The global virtual reality (VR) market size was worth nearly $5 billion in 2020

LONDON, June 15, 2022 (GLOBE NEWSWIRE) — The VR market is expected to grow at a CAGR of more than 25% during 2021-2030. GlobalData expects enterprises to become the key market for VR over the next three years, outpacing the consumer segment. VR is already in use across retail, defense, airlines, oil and gas, and healthcare, primarily for training. The COVID-19 pandemic triggered a shift to remote working that has boosted the adoption of VR by enterprises for training, collaboration, data visualization, and customer experience. 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 Virtual Reality Market Research Report offered by GlobalData identifies the key trends impacting the growth of the virtual reality 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.

To unlock the virtual reality market forecast, download a free report sample

Key Technology Trends Impacting the VR Market

  • Metaverse
  • AI
  • Cloud
  • 5G
  • Cloud
  • The future of work

The metaverse is a virtual world where users share experiences and interact in real-time within simulated scenarios. VR is a key technology for metaverse developers, thanks to its ability to place users in virtual environments where they can interact with other users and digital items. VR-related technologies such as simultaneous location and mapping (SLAM), facial recognition, and motion tracking will be vital for developing metaverse-based use cases.

For more insights on technology trends impacting the virtual reality theme, download a free report sample

Key Macroeconomic Trends Impacting the VR Market

  • COVID-19
  • Enterprise adoption
  • The search for a killer app

COVID-19 has hit the VR market on both the supply and demand sides. The slowdown is attributable to the disruption in production stemming from the lockdown in China at the start of 2020. At the same time, consumer spending on non-essential products, including VR headsets, was negatively impacted by the economic recession. However, the demand for VR headsets has started to recover in 2021, thanks to the subsiding impact of the pandemic, the growing number of affordable VR headsets (e.g., Oculus Quest 2 and HTC Vive Flow), and the increasing adoption of VR by enterprises.

For more insights on macroeconomic trends impacting the virtual reality theme, download a free report sample

Key Regulatory Trends Impacting the VR Market

  • Data privacy
  • Legal challenges

For more insights on regulatory trends impacting the virtual reality theme, download a free report sample

Key Media Trends Impacting the VR Market

  • Gaming
  • VR advertising
  • Films

For more insights on media trends impacting the virtual reality theme, download a free report sample

Leading Companies Associated with the VR Market

  • ByteDance
  • DPVR
  • Meta
  • HTC
  • Microsoft
  • Qualcomm
  • Sony
  • Unity
  • Valve
  • Walt Disney

To know more about leading companies associated with the virtual reality theme, download a free report sample

Virtual Reality Market Overview

Market Size 2020Nearly $5 billion
CAGR>25%
Forecast Period2021-2030
Key Technology TrendsMetaverse, AI, Cloud, 5G, Cloud, and the Future of Work
Key Macroeconomic TrendsCOVID-19, Enterprise adoption, and the Search for a Killer App
Key Regulatory TrendsData Privacy and Legal Challenges
Key Media TrendsGaming, VR Advertising, and Films
Leading CompaniesByteDance, DPVR, Meta, HTC, Microsoft, Qualcomm, Sony, Unity, Valve, and Walt Disney

Virtual Reality Market Report Scope

  • This report provides an overview of the virtual reality theme.
  • It identifies the key trends impacting the 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 a 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 comprises five segments: semiconductors, components, headsets, platforms, and applications and content. Leading and challenging vendors are identified across all five segments.

Reasons to Buy

This report tells you the need to know about VR, including market forecasts to 2030 and profiles of the leading companies

FAQs

What was the virtual reality market size in 2020?

The global VR market size was worth nearly $5 billion in 2020.

What is the virtual reality market growth rate?

The VR market is expected to grow at a CAGR of more than 25% during 2021-2030.

What are the key technology trends impacting the virtual reality market?

The key technology trends impacting the VR theme are metaverse, AI, cloud, 5G, and the future of work.

What are the key macroeconomic trends impacting the virtual reality market?

The key macroeconomic trends impacting the VR theme are COVID-19, enterprise adoption, and the search for a killer app.

What are the key regulatory trends impacting the virtual reality market?

The key regulatory trends impacting the VR theme are data privacy and legal challenges.

What are the key media trends impacting the virtual reality market?

The key media trends impacting the VR theme are gaming, VR advertising, and films.

Which are the leading companies associated with the virtual reality market?

The leading companies associated with the VR theme are ByteDance, DPVR, Meta, HTC, Microsoft, Qualcomm, Sony, Unity, Valve, and Walt Disney.

Related Reports

  • Environmental, Social, and Governance (ESG) Sentiment Polls, Q1 2022 – Thematic Research – Click here
  • Tech Sentiment Polls, Q1 2022 – Thematic Research – Click here
  • Metaverse – Thematic Research – Click here
  • Batteries – Thematic Research – Click here
  • Tencent – Enterprise Tech Ecosystem Series – Click here

About us

GlobalData is a leading provider of data, analytics, and insights on the world’s largest industries. In an increasingly fast-moving, complex, and uncertain world, it has never been harder for organizations and decision makers to predict and navigate the future. This is why GlobalData’s mission is to help our clients to decode the future and profit from faster, more informed decisions. As a leading information services company, thousands of clients rely on GlobalData for trusted, timely, and actionable intelligence. Our solutions are designed to provide a daily edge to professionals within corporations, financial institutions, professional services, and government agencies.

Media Contacts

GlobalData

Mark Jephcott
Head of PR EMEA
mark.jephcott@globaldata.com
cc: pr@globaldata.com

+44 (0)207 936 6400

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Important Notice for Investors:

The services and products offered by Goldalea Capital Ltd. are intended exclusively for professional market participants as defined by applicable laws and regulations. This typically includes institutional investors, qualified investors, and high-net-worth individuals who have sufficient knowledge, experience, resources, and independence to assess the risks of trading on their own.

No Investment Advice:

The information, analyses, and market data provided are for general information purposes only and do not constitute individual investment advice. They should not be construed as a basis for investment decisions and do not take into account the specific investment objectives, financial situation, or individual needs of any recipient.

High Risks:

Trading in financial instruments is associated with significant risks and may result in the complete loss of the invested capital. Goldalea Capital Ltd. accepts no liability for losses incurred as a result of the use of the information provided or the execution of transactions.

Sole Responsibility:

The decision to invest or not to invest is solely the responsibility of the investor. Investors should obtain comprehensive information about the risks involved before making any investment decision and, if necessary, seek independent advice.

No Guarantees:

Goldalea Capital Ltd. makes no warranties or representations as to the accuracy, completeness, or timeliness of the information provided. Markets are subject to constant change, and past performance is not a reliable indicator of future results.

Regional Restrictions:

The services offered by Goldalea Capital Ltd. may not be available to all persons or in all countries. It is the responsibility of the investor to ensure that they are authorized to use the services offered.

Please note: This disclaimer is for general information purposes only and does not replace individual legal or tax advice.