Skip to main content

Virtual Reality Market Size to Surpass USD 165.91 billion by 2030, exhibiting a CAGR of 31.0%

As per the report by Fortune Business Insights, the global Virtual Reality Market Size is projected to reach USD 165.91 billion by 2030, at a CAGR of 31.0% during the forecast period.

Pune,India, June 20, 2023 (GLOBE NEWSWIRE) — According to Fortune Business Insights, the global Virtual Reality Market Size was valued at USD 19.44 billion in 2022 and is projected to grow from USD 25.11 billion in 2023 to USD 165.91 billion by 2030, exhibiting a CAGR of 31.0% during the forecast period.

Virtual reality, popularly known as VR, continues to rise in popularity. It promises to offer a simulated user experience across varied industry verticals. These range from gaming & entertainment to virtual training, engineering & maintenance, design & marketing, and digital assistance. Expanding use cases across a wide array of areas will promote a VR boom over the next few years. Fortune Business Insights™ presents this information in a report titled, Virtual Reality Market, 2023-2030.

Industry Developments:

HTC Corporation rolled out VIVE – a new pair of portable immersive glasses. These offer numerous features including Meditation 2.0, brain training apps, and fitness apps compatible with VIVE SYNC.


Request a Free Sample PDF – https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/virtual-reality-market-101378


Key Takeaways-

  • Virtual Reality Market is expected to flourish & reach USD 165.91 Billion in 2030
  • The growing use of VR in healthcare is accelerating the market’s expansion.
  • The market share of virtual reality is likely to grow due to the increased demand for virtual live entertainment.
  • For a distinctive playing experience, virtual reality technologies—particularly virtual reality headsets—are frequently used in e-sports and video games.
  • Virtual Reality Market Size in North America was USD 6.07 Billion 2022


Discover the Leading Players Featured in the Report-

“Oculus (Meta Platforms, Inc.) (U.S.), Google LLC (Alphabet Inc.) (U.S.), Microsoft Corporation (U.S.), Sony Interactive Entertainment LLC (Japan), HTC Corporation (Taiwan), Samsung Electronics Co., Ltd. (South Korea), Unity Software Inc. (U.S.), Qualcomm Incorporated (U.S.), Nvidia Corporation (U.S.), HaptX Inc. (U.S.)”


Report Scope & Segmentation-

Report CoverageDetails
Forecast Period2023 to 2030
Forecast Period 2023 to 2030 CAGR31.0%
2030 Value ProjectionUSD 165.91 Billion
Base Year2022
Virtual Reality Market Size in 2022USD 19.44 Billion
Historical Data for2019 to 2021
No. of Pages140
Segments coveredComponent, Device Type, Industry, Regional


Browse Complete Report Details- https://www.fortunebusinessinsights.com/industry-reports/virtual-reality-market-101378


Drivers and Restraints

Live Entertainment to Provide VR Industry with Significant Boost

Live virtual entertainment has gained much attention in the past several years as individuals increasingly prefer at-home entertainment. A wider proportion of people are using VR to attend live shows and events. The technology promises to deliver a real-world environment of live concerts or sports. Last year in April, for instance, the rock band Foo Fighters live-streamed a 180-degree performance on the Meta virtual stage through the Meta Quest headset. Virtual live environment is thus bound to open up new opportunities for virtual reality market growth.


Leading Segments Covered in this Report-

By Component

  • Hardware
  • Software
  • Content

By Device Type

  • Head Mounted Devices (HMD)
  • VR Simulator
  • VR Glasses
  • Treadmills & Haptic Gloves
  • Others (Controllers, Cardboard, and others)

By Industry

  • Gaming
  • Entertainment
  • Automotive
  • Retail
  • Healthcare
  • Education
  • Aerospace & Defense
  • Manufacturing
  • Others (Real Estate, Travel & Tourism, and others)


Regional Insights

North America Dominates Market Share Owing to Rise in VR Advancements

Over the course of the forecast period, North America is anticipated to hold the majority of the market share. Market expansion in the region is fueled by the considerable presence of important businesses there. In addition, a number of start-ups are entering the North American market and providing solutions tailored to particular industries.

Due to the rising demand for immersive technology in emerging economies, Asia Pacific exhibits rapid development throughout the course of the projected period.

Throughout the predicted period, Europe is anticipated to have significant growth. The area was a pioneer in using virtual solutions in the automotive sector.


Quick Buy – Virtual Reality Markethttps://www.fortunebusinessinsights.com/checkout-page/101378


Competitive Landscape

Market Players Focus on Product Improvements to Strengthen Market Position

Major market companies are creating cutting-edge new solutions for consumers. Additionally, they concentrate on enhancing their current product line to offer adaptable solutions with distinctive features. The organizations also seek to expand their product offerings through partnerships, acquisitions, and collaboration.


FAQs

How big is the Virtual Reality Market?

Virtual Reality Market size was USD 19.44 Billion in 2022. It is expected to reach USD 165.91 Billion by 2030.

How fast is the Virtual Reality Market growing?

The Virtual Reality Market will exhibit a CAGR of 31.0% during the forecast period, 2023-2030


Related Reports-

Virtual Reality in Education Market Share, Revenue Forecast and Opportunities

Virtual Reality in Gaming Market Overview, Industry Share and Forecast

Augmented Reality Market Demand, Indepth Analysis And Estimated Forecast Till 2030


About Us-

Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.

Contact Us:

Fortune Business Insights™ Pvt. Ltd.

US: +1 424 253 0390

UK: +44 2071 939123

APAC: +91 744 740 1245

Email: sales@fortunebusinessinsights.com

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.

Cookie Notice

We use cookies to improve your experience on our website

Information we collect about your use of Goldea Capital website

Goldea Capital website collects personal data about visitors to its website.

When someone visits our websites, we use a third party service, Google Analytics, to collect standard internet log information (such as IP address and type of browser they’re using) and details of visitor behavior patterns. We do this to allow us to keep track of the number of visitors to the various parts of the sites and understand how our website is used. We do not make any attempt to find out the identities or nature of those visiting our websites. We won’t share your information with any other organizations for marketing, market research or commercial purposes and we don’t pass on your details to other websites.

Use of cookies
Cookies are small text files that are placed on your computer or other device by websites that you visit. They are widely used to make websites work, or work more efficiently, as well as to provide information to the owners of the site.