Latest News- Location-Based Virtual Reality (VR) Market: VR arcades is expected to lead the Application segment during 2025-2029

The Location-Based Virtual Reality (VR) Market is being driven by Penetration of head-mounted displays in gaming and entertainment sector

The Location-Based Virtual Reality (VR) Market is expected to grow at a CAGR of 35.1% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 14576.6 million. In the realm of Location-Based Virtual Reality (VR), high-end headsets employ advanced technologies to enhance user mobility. Inside-out tracking systems integrate cameras and sensors on the device itself, enabling precise determination of its spatial relationship within the external environment. This technology empowers users with unconstrained movement, transcending the boundaries of predefined play spaces. Sensors embedded in the headset decipher depth and acceleration cues, converting them into immersive virtual motions. Consequently, location-based VR users can engage in a wider array of activities while minimizing the risk of motion sickness. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Application
  • VR arcades
  • VR cinemas
  • VR theme parks
• Type
  • Hardware
  • Software
• Deployment
  • On-premises
  • Cloud-based
• Geography
  • APAC
    • China
    • India
    • Japan
    • South Korea
  • North America
    • Canada
    • US
  • Europe
    • Germany
    • UK
    • France
    • Italy
  • Middle East and Africa
  • South America

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Penetration of head-mounted displays in gaming and entertainment sector
• Growing popularity of 360-degree content
• Growing advancements in VR gaming

However, the market also witnesses some limitations, which are as follows:

• Requirement for high-speed Internet and computation power
• Data security issue
• Health-related issues in using VR

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Market Scope in Location-Based Virtual Reality (VR) Market Research Report

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Research Analysis Overview

The virtual reality market is thriving, with an increasing number of VR centers and retail arcades offering immersive VR experiences. Companies like Zero Latency and Seekers VR lead the way, providing top-notch VR hardware and technology for 360-degree videos and content. VR venues utilize camera systems for video evaluation and high-definition 360-degree equipment. VR headsets and augmented reality technology enhance connectivity speed, while AI and blockchain technology contribute to advanced VR venue management. Global gaming content and entertainment sectors benefit from this rapidly growing industry.

Market Research Overview

The Location-Based Virtual Reality (VR) market is a significant segment of the global technology hardware, storage, and peripherals market, which encompasses manufacturers of VR hardware, equipment, and components. This market includes innovative solutions such as VR experiences, Dreamscape Immersive, Zero Latency, and retail arcades, which leverage 360-degree videos and mixed realms. Technavio, a leading technology research firm, calculates the market size based on revenue generated from sales of these VR hardware and components. The global technology hardware, storage, and peripherals market growth is driven by the increasing volume, velocity, veracity, and variety (4Vs) of data, necessitating advanced data storage solutions.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/