Facebook, Microsoft, and Koninklijke Philips N.V. is dominating the North America Virtual Reality (VR) Health Market in 2021

The North America Virtual Reality (VR) Health Market is expected to grow with a CAGR of 32.9% in the forecast period of 2021 to 2028. The years considered for the study are as mentioned below:

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The North America virtual reality (VR) health market is a fragmented market, which includes a specific number of key players and local players. The market has witnessed increased strategic developments owing to favorable market scenarios.

The major players dealing in the North America virtual reality (VR) health market are introducing a strong range of product portfolios. This helped companies to maximize sales with an enhanced product portfolio.

For instance,

  • In February 2021, VirtaMed AG announced a strategic partnership with ESG Elektroniksystem- und Logistik-GmbH. Under this partnership, both the companies will jointly offer innovative, customer-specific, and virtual reality-based simulation solutions for the training and continuing education of physicians and medical service personnel. This will help the company to enhance its sales and to grow in the market

Facebook is the dominating player in the North America virtual reality (VR) health market. The other key players existing in the market include SyncThink Inc., AppliedVR, Koninklijke Philips N.V., EchoPixel, Psious, Firsthand Technology Inc, MindMaze Inc, Augmedix, Inc, VirtaMed AG, Vivid Vision, Inc, Osso VR, Inc, ImmersiveTouch, Inc, CAE Inc, Google (A Subsidiary of Alphabet Inc), Microsoft, General Electric, Medical Realities Ltd, Siemens, among others.

North America Virtual Reality (VR) Health Market FACEBOOK

Facebook was incorporated in 2004 and was founded in California, U.S. It has public ownership. The company is engaged in designing and providing AR/VR, engineering, AI, and gaming solutions to customers. The product categories of the company include AI, Facebook Reality Labs, Engineering, and Gaming. The market-focused category is Facebook Reality Labs.  

  • In July 2021, Facebook announced the integration of their Oculus virtual-reality headsets with Apple Inc.’s health app on iPhones. The feature would allow a user of the Oculus move workout system to add data – such as the number of calories burned -- to the iPhone health app. This has helped the company to enhance its offerings and to grow in the market

The company has a global presence across the Americas, Europe, Asia-Pacific, Middle East, and Africa. In addition to it, the company also generates its revenue from various subsidiary companies such as PrivateCore (U.S.), WhatsApp (U.S.), Facebook Ireland Limited (Ireland), Novi Financial, Inc. (U.S.), Toei Hot Studio Inc. (U.S.), among others

MICROSOFT

Microsoft was founded in 1975 and is headquartered in Washington, U.S. It has public ownership. The company is engaged in manufacturing and providing cloud-based solutions with software, services, platforms, content and also provides support and consulting services. The company's business segments include productivity and business processes, intelligent cloud, and more personal computing. The market-focused business segment is productivity and business processes. The product and solution categories of the company include software, PCs and devices, entertainment, business, developer and IT, and others. The market-focused category is the developer and IT.

  • In April 2021, Microsoft announced that they had won a U.S. Army contract for augmented reality headsets worth up to USD 21.9 billion over ten years. Under this, Microsoft will deliver more than 120,000 devices based on its HoloLens augmented reality headset to the U.S. Army. This will help the company to enhance its customer base and to grow in the market

The company has a presence in North America, South America, Europe, Asia-Pacific, Middle East and Africa. In addition, the company also generates its revenue from various subsidiary companies such as Skype Communications S.a.r.l., LinkedIn Corporation, GitHub, Yammerand, and others.

KONINKLIJKE PHILIPS N.V.

Koninklijke Philips N.V. was incorporated in 1891 and is headquartered in Eindhoven, Netherlands. It has public ownership. The company is engaged in designing and providing health technology to customers. The company's business segments include diagnosis and treatment businesses, connected care businesses, personal health businesses, and others. The market-focused business segment is the diagnosis and treatment businesses. The product categories of the company include consumer products, healthcare, and other business solutions. The market-focused category is healthcare.

  • In August 2021, Koninklijke Philips N.V. announced the launch of digital experience during the virtual European Society of Cardiology (ESC) 2021 Congress. Under this, the company spotlighted smart diagnostic and treatment solutions for the customers. This will help the company to enhance its offerings and to grow in the market

The company has a presence in North America, Europe, Asia-Pacific, Middle East and Africa, and Latin America. In addition, the company also generates its revenue from various subsidiary companies such as Capsule Technologies Inc., Magnavox, Respironics, Inc., and others.