Europe Virtual Reality Market, By Component (Hardware, Software), Device Type (Head-Mounted Displays, Projectors & Display Walls, Gesture-Tracking Devices), Technology (Fully Immersive, Non-Immersive, Semi Immersive), Vertical (Entertainment & Media, Healthcare, Industrial, Commercial, Aerospace & Defense, Automotive, Education, Others), Country (Germany, France, U.K., Italy, Russia, Spain, Netherlands, Belgium, Switzerland, Turkey, Rest of Europe) Industry Trends and Forecast to 2027
Virtual reality market is expected to gain market growth in the forecast period of 2020 to 2027. Data Bridge Market Research analyses that the market is growing with the CAGR of 46.9% in the forecast period of 2020 to 2027 and is expected to reach USD 62,219.53 million by 2027. Increasing growth in advanced technologies and digitization is one of the prominent factors that drive the growth of the market.
There are many prominent companies such as Sony Corporation, Facebook Technologies, LLC (A Subsidiary of Facebook Inc.), SAMSUNG ELECTRONICS CO., LTD. among others that are building its own virtual reality which is driving the market growth. Increasing demand of small sized virtual reality is augmenting the market growth.
- In January 2018, Sony Corporation collaborated with singer Khalid to provide enhanced music experience platform through Virtual Reality Technologies. Sony’s virtual reality technology created a space where sounds can virtually movie around. The new collaboration has enhanced the customer base of the company by enhancing its market value.
- In March 2014, Facebook Technologies, LLC. (A Subsidiary of Facebook Inc.), announced the acquisition of Oculus, a company engaged in virtual reality gaming. The strategic acquisition was done for USD 2 billion by Facebook in order to enter into virtual reality market. The new acquisition allowed the company to diversify its product range.
This virtual reality market report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographical expansions, and technological innovations in the market. To understand the analysis and the market scenario contact us for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.
Virtual reality market is segmented on the basis of component, device type, technology and vertical. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of component, the virtual reality market is segmented into hardware and software. Hardware dominates the component segment due to high initial cost of the products such as displays and projectors; however software is expected to grow at higher rate considering VR content creators are increasing worldwide; also cloud based services are more preferred by end users.
- On the basis of device type, the virtual reality market is segmented into head-mounted displays, projectors & display walls and gesture-tracking devices. Device type segment is dominated by head-mounted displays and is expected to grow at higher rate; head-mounted displays are box like structures which are head mounted in front of eyes and ears that are majorly used by end users to experience fully immersive virtual reality.
- On the basis of technology, the virtual reality market is segmented fully immersive, non-immersive and semi immersive. Fully immersive holds major market share in technology segment and is expected to grow at highest rate considering coherency with head mounted display users which are most in numbers worldwide which suggests that fully immersive is mostly used technology.
- On the basis of vertical, the virtual reality market is segmented into entertainment & media, healthcare, industrial, commercial, aerospace & defense, automotive, education and others. Vertical segment is majorly shared by entertainment & media sector wherein virtual reality is used for gaming, video watching, watching live events and other such entertainment usage.
Virtual reality market is analysed and market size information is provided by component, device type, technology and vertical as referenced above.
The countries covered in the Europe virtual reality market report are Germany, France, U.K., Italy, Russia, Spain, Netherlands, Belgium, Switzerland, Turkey and Rest of Europe.
Germany is dominating the market due to growing adoption of hardware such as head mounted displays by the computer gamer and rise in smartphone application by the people in the country is the factor driving the market growth. France is dominating due to availability of affordable VR devices and rising penetration of smartphones and internet services, while the U.K. is dominating due to growing entertainment and gaming industry which increases the demand of hardware in the market.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts and import-export analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
Rising Demand for Small Sized Virtual Reality amongst the Industries
Virtual reality market also provides you with detailed market analysis for every country growth in installed base of different kind of products for virtual reality, impact of technology using life line curves and changes regulatory scenarios and their impact on the virtual reality market. The data is available for historic period 2010 to 2018
Competitive Landscape and Virtual Reality Market Share Analysis
Virtual reality market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, company strengths and weaknesses, product launch, clinical trials pipelines, brand analysis, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the companies’ focus related to virtual reality market.
The major players covered in the report are Sony Corporation, Lenovo, Autodesk Inc., Nintendo, Psious, HTC Corporation, Ultraleap Limited, Google (A Subsidiary of Alphabet Inc.), Qualcomm Technologies, Inc., Barco, HP Development Company, L.P., Facebook Technologies, LLC (A Subsidiary of Facebook Inc), Microsoft, SAMSUNG ELECTRONICS CO., LTD among others domestic and global players. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
- In February 2020, Barco joined hands with Panopto, a company engaged in creating video libraries for institutional knowledge. Barco provided with weConnect platform as a virtual reality platform for the students to attend virtual classes and improve their learning experience. The strategic partnership increased the customer base of the company.
- In September 2019, Autodesk Inc joined hands with ANSYS to provide hyper-realistic virtual prototyping capabilities to the automakers. The collaboration provided with lighting simulation tools which aided in designing the next generation of vehicles. The collaboration increased the customer base for both the companies.
Partnership, acquisition and other strategies enhances the company market share with increased coverage and presence. It also provides the benefit for organisation to improve their offering for virtual reality through expanded product range.
Customization Available: Europe Virtual Reality Market
Data Bridge Market Research is a leader in advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customised to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), clinical trial results data, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analysed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Factbook) or can assist you in creating presentations from the data sets available in the report.