Total market share VR
The global market size of virtual reality-headsets was estimated at 7.81 billion dollars in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 28.2% from 2021 to 2028.
Direct impact on developments
The extensive application of virtual reality- technology (VR) in the military and automotive sectors is the driving force behind market growth. Additionally, the rising demand for gaming consoles is another factor propelling industry growth. VR-technologie has enormous potential to be used in a wide range of applications, such as medical training, industrial prototyping, and education. The increasing investments in this technology by both companies and consumers are expected to stimulate product demand during the forecast period. Emerging trends in VR-technologie have a direct impact on developments in VR-headsetindustrie, such as the introduction of convenient, attractive, and sleek VR-headsets.
VR Applications
The gaming-segment accounted for the largest revenue share of over 30.0% in 2020 and is expected to dominate the global VR-headsetmarkt during the forecast period. Gamers have a higher average price for transforming their game consoles or desktops compared to non-gamers. This has encouraged companies to capitalise on the VR-headsetgames within the reasonable price range for gamers. Moreover, the retail segment is expected to see substantial growth as retailers integrate these devices into their stores to enhance the shopping experience. The new online shopping trends adopted by the retail sector and e-commercebedrijven, including providing their potential customers with real experiences while shopping to help them make better purchasing decisions, are driving the segment's growth.
Key VR companies
Leading companies are continually investing in R&D to develop cost-effective devices that offer high quality and can be used by various end-user industries. Oculus Rift, Oculus Rift S, Oculus Quest, Oculus Go, HTC Vive, HTC Vive Pro Eye, HTC Focus, HTC Plus, HTC Cosmos, and Sony's PSVR are some of the VR-headsets prominently featured in various industrial sectors. The significant market expansion is expected to be supported by game consoles from companies such as Nintendo, SEGA, and Atari, Inc. Unrelenting investments in research and development of VR-technologie by industry participants are expected to drive market growth during the forecast period.
The high revenues from the gaming sector have prompted manufacturers of VR-apparaten to capitalise on the VR-headsetsegment by offering related software, hardware, and content services. Many companies are adopting various innovative technologies, such as Blu-ray, 4K, motion sensing, self-tracking, video in HD-kwaliteit, and Six Degrees of Freedom (6DoF), to meet changing customer demands. Additionally, mergers and acquisitions and partnerships with domestic companies are among the key strategies implemented by global industry players. For instance, in May 2020, HP Development Company, LP, a technology company, unveiled the new Reverb G2 VR-headset, built in collaboration with Microsoft Corporation and Valve. Some prominent players in the global VR-headset-markt are:
- Carl Zeiss AG
- Facebook Technologies, LLC (Oculus)
- Google LLC
- HTC Corporation
- LG Electronics
- Microsoft
- Razer Inc.
- Samsung Electronics Co., Ltd.
- Sony Corporation
- Pico Interactive
- DPVR
