Research Expert: Sarah Overall
  • Published: Apr 2025
  • Pages: 150
  • SKU: IRTNTR71035

  • Latest News- Virtual Reality (VR) Market: Enterprise is expected to lead the End-user segment during 2025-2029

    The Virtual Reality (VR) Market is being driven by Recent developments in virtual reality technologies

    The Virtual Reality (VR) Market is expected to grow at a CAGR of 38% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 133174.2 million. The fusion of artificial intelligence (AI) and machine learning (ML) with virtual reality (VR) technology is generating significant business opportunities and innovative experiences across multiple industries. In the healthcare sector, the integration of AI and ML algorithms with VR technology facilitates accurate diagnoses and personalized treatment plans by analyzing complex medical data. Furthermore, VR simulations enabled by AI and ML offer immersive training platforms for healthcare professionals, allowing them to practice intricate medical procedures in a realistic virtual environment. For instance, surgical simulations in VR, driven by AI and ML, provide valuable practice opportunities for surgeons, thereby enhancing patient safety and care. This convergence of technologies is revolutionizing industries, including education, gaming, and simulation, by delivering unprecedented value and experiences. 

    Get more information on Virtual Reality (VR) Market by requesting a sample report

    Which Factors Are Causing a Surge in Market Growth?

    The market is segmented based on

    • End-user
      • Enterprise
      • Consumer
    • Component
      • Hardware
      • Software
    • Device
      • Head-mounted display
      • Gesture-tracking device
      • Projectors & display wall
      • Head-mounted display
      • Gesture-tracking device
      • Projectors & display wall
    • Technology
      • Semi & fully immersive
      • Non-immersive
      • Semi & fully immersive
      • Non-immersive
    • Geography
      • North America
        • Canada
        • US
      • APAC
        • China
        • Japan
        • South Korea
      • Europe
        • Germany
        • UK
        • France
      • Middle East and Africa
        • South America
          • Brazil

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

      • Recent developments in virtual reality technologies
      • Increased affordability of virtual reality gear
      • Growing consumer interest in virtual reality devices

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

      • High cost of immersive hardware
      • Health concerns related to high usage of virtual reality devices
      • Lack of standardized hardware and software frameworks

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      Market Scope in Virtual Reality (VR) Market Research Report

      Market Scope

      Report Coverage

      Details

      Page number

      200

      Base year

      2024

      Historic period

      2019-2023

      Forecast period

      2025-2029

      Growth momentum & CAGR

      Accelerate at a CAGR of 38%

      Market growth 2025-2029

      USD 133174.2 million

      Market structure

      market_structure.ucfirst

      YoY growth 2024-2025(%)

      30.1

      Key countries

      US, China, Germany, UK, Canada, Japan, France, South Korea, Saudi Arabia, and Brazil

      Competitive landscape

      Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks

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      Find out which segment is leading the market by accessing the free PDF report

      Research Analysis Overview

      The Virtual Reality (VR) market is witnessing significant growth with the introduction of advanced Head-Mounted Displays (HMDs) such as HTC Vive, PlayStation VR, and Valve Index. Standalone and PC-connected VR headsets are driving innovation in the industry, while VR game engines like Unreal Engine provide powerful development tools. VR SDKs, APIs, and asset libraries facilitate 3D modeling, animation, motion capture, spatial sound, haptics, eye tracking, gesture recognition, voice control, and accessibility features. VR is revolutionizing industries with training programs, simulation platforms, data visualization, analytics dashboards, marketing campaigns, brand experiences, retail experiences, tourism destinations, virtual tours, remote collaboration, remote work, virtual conferences, virtual events, social platforms, virtual communities, blockchain applications, cryptocurrency, and NFTs.

      Market Research Overview

      The Virtual Reality (VR) market encompasses companies specializing in the development and production of VR headsets, software, games, experiences, simulations, training, entertainment, and applications. These businesses contribute to the global application software market, which caters to the production of software for specific business or consumer uses. Technavio calculates the size of the VR market by aggregating the revenues of companies providing all types of VR software, including cloud-based solutions. This market segment falls under the application software category, excluding those classified in the interactive home entertainment or systems software industries.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.


      Contacts

      Technavio Research
      Jesse Maida
      Media & Marketing Executive
      US: +1 844 364 1100
      UK: +44 203 893 3200
      Email: media@technavio.com
      Website: www.technavio.com/

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