Consumer Virtual Reality Market to Grow by USD 52.77 bn | Technavio

Market Scope

The consumer virtual reality market covers the following areas:

Consumer Virtual Reality Market Sizing
Consumer Virtual Reality Market Forecast
Consumer Virtual Reality Market Analysis

Drivers and Challenges

The increasing demand for VR technology is one of the key factors driving the growth of the consumer virtual reality market. Customers are increasingly adopting VR technology for professional or private use. This adoption rate grew significantly in the last decade. Therefore, the increasing demand for VR technology will boost the growth of the global VR market. Technological innovations will further drive the demand for VR applications during the forecast period, as these applications should be user-friendly. The growing application of VR technology in several sectors, such as education, medical, retail, and training, will further boost the growth of the market in focus.

The high development cost of consumer virtual reality solutions will challenge the consumer virtual reality market growth during the forecast period. Several cost factors, such as costs incurred during the creation and distribution of VR content and the cost of hardware and software, need to be considered while developing VR apps. Moreover, 360-degree cameras are used to create realistic panoramic content. These cameras, along with computer graphics, and high-end photorealistic cameras, are required to develop realistic VR content. A VR program is created for individual systems to support high-end applications such as Oculus VR, HTC VIVE, and HoloLens. The cost associated with developing a software app also impacts the development cost of VR. The high development costs of VR apps, coupled with the high cost of VR gadgets, act as a challenge for the growth of the global consumer virtual reality market.

Value Chain Analysis

The value chain of the IT spending market, which is the parent market of the consumer virtual reality market, includes the following core components:

• Research and development
• Developers or manufacturers
• Sales and distribution
• End-users

Some Companies Mentioned and Their Offerings

• Alphabet Inc. - The company offers virtual reality products such as Google Cardboard, Google Earth VR, and many more.
• Bitmovin Inc. - The company offers Play virtual reality and 360° video that can be used on any device using the Bitmovin HTML5 Player.
• Firsthand Technology Inc. - The company offers VR helmets and peripherals, VR-Ready laptops, tablets and mini-desktops, and many more
• HTC Corp. - The company offers VIVE Series that is precise, has 360-degree headset tracking, realistic graphics, directional audio, and HD haptic feedback to deliver exciting action in the virtual world.
• Manus Machinae BV - The company offers Manus SteamVR Pro Tracker that is a professional SteamVR tracker designed specifically for Motion Capture, Virtual Production, and full-body Virtual Reality.

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Key Topics Covered:

Executive Summary

Market Landscape

• Market ecosystem
• Value chain analysis

Market Sizing

• Market definition
• Market segment analysis
• Market size 2021
• Market outlook: Forecast for 2021 - 2026

Five Forces Analysis

• Bargaining power of buyers
• Bargaining power of suppliers
• Threat of new entrants
• Threat of substitutes
• Threat of rivalry
• Market condition

Market Segmentation by Component

• Market segments
• Comparison by Component
• Hardware - Market size and forecast 2021-2026
• Software - Market size and forecast 2021-2026
• Market opportunity by Component

Customer landscape

Geographic Landscape

• Geographic segmentation
• Geographic comparison
• APAC - Market size and forecast 2021-2026
• North America - Market size and forecast 2021-2026
• Europe - Market size and forecast 2021-2026
• MEA - Market size and forecast 2021-2026
• South America - Market size and forecast 2021-2026
• Key leading countries
• Market opportunity by geography
• Market drivers
• Market challenges
• Market trends

Vendor Landscape

• Landscape disruption

Vendor Analysis

• Vendors covered
• Market positioning of vendors
• Alphabet Inc.
• Bitmovin Inc.
• Firsthand Technology Inc.
• HTC Corp.
• Manus Machinae BV
• Microsoft Corp.
• NVIDIA Corp.
• Sony Group Corp.
• Ultraleap Ltd.
• Unity Technologies Inc.

Appendix

• Scope of the report
• Currency conversion rates for US$
• Research methodology
• List of abbreviations

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