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Unprecedented Advancement in Technology Propels Virtual Reality Demands in Global Market(October 10, 2017)
The report comprises of detailed study of various aspects of virtual reality and the factors that are likely to affect the future market growth. It presents a detailed analysis on the facets that would help the investors and manufacturers to decide before entering in the virtual reality market. The publication includes all the driving factors behind the market growth, restraints that are expected to obstruct the market growth, analysis based on regional market, segmentations as per various categories, and market figures. According to the report published, the global market of virtual reality is prognosticated to surge with a significantly strong CAGR of 48.89% within its forecast period from 2017 to 2021.
Virtual reality, also known as VR is a 3D environment, generated on computer that gives the users an almost real experience of the virtual world. It also keeps them connected to the virtually created world by developing a series of action for their engagement. The publication details out the extent of development in future, key players and their procedures to command the market. It presents the market shares of the key players in overall industry as far as income and volume are concerned. It additionally concentrates on driving patterns in virtual reality on a global level. The report is organized in a way with the end goal that it demonstrates all the positive and dubious factors of the market, and explanation behind the growth of virtual reality technology. It gives an unmistakable and exact thought of the present, past, and future market situations in light of its broad research.
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Based on end-user segmentations the entire virtual reality market is divided into console gaming, mobile gaming, and PC gaming. Among these three segments, the mobile gaming segment is anticipated to dominate the market with the major percentage of the revenue in the global market. The major factor for the dominance of this segment is the emergence of trends such as integration of augmented reality and virtual reality technology in mobile games. This contributes in generating great revenues for that segment. Apart this the global virtual reality market based on component analysis is divided into software component and hardware component. Here, the hardware component segment is likely to rule the global market accounting to 73% of the overall market in terms of revenue by the end of 2019. Owing to the emergence of latest innovations which is quite affordable as well as technologically much advanced VR head-mounted displays (HMDs) propels the growth of hardware segment in the global VR market.
As per the geographical regions, the global virtual reality market is segmented into Asia Pacific, North America, and the Middle East and Africa. Among these the North America market is foreseen to dominate the other regions owing to the rapid advancement in technology and early adoption of virtual reality concept among the masses. Moreover several organizations in this region are investing in research and development of the technology giving a boost to the demand for VR in global market.
Sony Corporation (Japan), Samsung Electronics Co., Ltd. (South Korea), Vuzix Corporation (U.S.), Google Inc. (U.S.), Sensics, Inc. (U.S.), Oculus VR, LLC (U.S.), HTC Corporation (Taiwan), Microsoft Corporation (U.S.), Sixense Entertainment, Inc. (U.S.), EON Reality Inc. (U.S.), CyberGlove Systems Inc. (U.S.), and Leap Motion Inc. (U.S.) are some of the business giants in the global virtual reality market. These companies are constantly working upon innovating more high-tech applications based on virtual reality concept. In order to maintain their position and from future growth point-of-view the firms are investing a huge amount of funds exploring and developing advanced applications based on the concerned technology.
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