North America Virtual Reality Market, By Component (Hardware and Software), Device Type (Head-Mounted Displays, Projectors & Display Walls and Gesture-Tracking Devices), Technology (Fully Immersive, Non-Immersive and Semi Immersive), Vertical (Entertainment & Media, Healthcare, Industrial, Commercial, Aerospace & Defense, Automotive, Education and Others), Country (U.S, Canada and Mexico) 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 a CAGR of 48.1% in the forecast period of 2020 to 2027 and expected to reach USD 76,082.33 million by 2027. Increasing healthcare sector is driving the growth for market.
Apart from booming entertainment sector for virtual reality in the region; usage of virtual reality for healthcare purposes such as surgeries, patient management and recovery which has immensely helped virtual reality market to achieve higher growth rate.
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, geographic 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.
North America 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 North America virtual reality market is segmented into hardware and software. Hardware dominates the component segment due to high initial cost of the products; however software is expected to grow at higher rate considering VR content creators are increasing worldwide; and prices of hardware are dropping.
- On the basis of device type, the North America 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 majorly used by gamers worldwide in order to experience real time gaming with detailed graphics experience.
- On the basis of technology, the North America virtual reality market is segmented fully immersive, non-immersive and semi immersive. Fully immersive dominates technology segment and is expected to grow at highest rate as it compliments with head mounted display users which are majorly used worldwide which indicates that fully immersive is mostly used technology.
- On the basis of vertical, the North America virtual reality market is segmented into entertainment & media, healthcare, industrial, commercial, aerospace & defense, automotive, education and others. Vertical segment is majorly dominated by entertainment & media sector and expected to grow at highest rate wherein virtual reality is used for gaming, video watching, watching live events and other such entertainment applications.
Virtual Reality Market Country Level Analysis
Virtual reality market is analysed and market size information is provided by country, component, device type, technology and vertical.
The countries covered in Virtual reality market report are U.S., Canada and Mexico.
The U.S. dominates the North America virtual reality market as the country has global leaders’ headquarters such as Facebook, Microsoft and Qualcomm Technologies, Inc., among others.
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 tariffs 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.
Increasing Need of Virtual Reality in Healthcare Sector
Virtual reality market also provides you with detailed market analysis for every country growth in industry with sales, components sales, impact of technological development in Virtual reality and changes in regulatory scenarios with their support for 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, product trials pipelines, 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 North America Virtual reality market.
The major players covered in the report are Sony Corporation, Lenovo, Autodesk Inc., Nintendo, Psious, WorldViz, Inc., Firsthand Technology Inc., Sixense Enterprises Inc., HTC Corporation, FOVE, Inc., Ultraleap Limited, Google (A Subsidiary of Alphabet Inc.), Qualcomm Technologies, Inc., Barco, HP Development Company, L.P., Microsoft, SAMSUNG ELECTRONICS CO., LTD., Facebook Technologies, LLC. (A subsidiary of Facebook Inc.) and Virtuix, among others. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Many product developments are also initiated by the companies worldwide which are also accelerating the growth of virtual reality market.
- In February 2020, Qualcomm Technologies, Inc. upgraded its product by integrating the extended reality (XR) headset with 5G. The design is supported by Qualcomm Snapdragon XR2 Platform and will gives 4x more video bandwidth, 11x AI improvement and 6x higher resolution. The new product will increase the offerings of the company.
- In February 2019, Microsoft launched HoloLens 2 at MWC Barcelona, which offered more vibrant and realistic holograms, holographic density of 47 pixels per degree of sight, time-of-flight depth sensor and built-in AI and semantic understanding. The new product increased the market share of the company.
Partnership, joint ventures 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.
Customization Available: North America 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.