"Virtual Reality (VR) is about to become mainstream and could surpass US$ 40 Billion market by 2020. Virtual reality involves the creation of a virtual world that interacts with consumers. This virtual world is designed in a way that it appears more realistic to the users, while they can’t differentiate between the real and virtual. The technology giants are making huge investments in the virtual reality market landscape, such as Facebook's US$ 2 Billion acquisition of Oculus virtual reality (VR) headset. Samsung through innovation with Oculus VR has also produced virtual reality devices for use, along with its top leading smartphones. The major growth driver of virtual reality market includes growing digitization, advancement of technology, increasing demand for head mounted displays in gaming and entertainment industries, and rising investment in virtual reality market among others. However, high cost of devices and lack of technical expertise are the factors among others which are hindering the growth of Virtual Reality Market.

Key Highlights of the Report:

• The VR hardware component accounted for maximum share of the market in 2016.

• The virtual reality market for software components is expected to grow at the highest rate during the forecasting period.

• The head-mounted display (HMD) captures maximum share of the virtual reality hardware market.

• The video games application captured largest share of the virtual reality software market.

• The live events application is predicted to capture xx% share of the virtual reality software market by 2020.

• During 2016, the PC segment accounted for the largest revenue share of the global VR content market.

• Mobile devices platform is likely to capture xx% share of the virtual reality market by 2020.

• The big giants like Sony, Facebook, Google, and Samsung dominate virtual reality, with over 50% market share in 2016.

• Microsoft ranks as one of the lowest, with a xx% market share, but this is likely to change in the coming years.

• Samsung's Gear VR is the biggest product in the smartphone-based VR market today.

Data Sources

Research Methodologies

Primary Research Methodologies: Questionnaires, Surveys, Interviews with Individuals, Small Groups, Telephonic Interview, etc.

Secondary Research Methodologies: Printable and Non-printable sources, Newspaper, Magazine and Journal Content, Government and NGO Statistics, white Papers, Information on the Web, Information from Agencies Such as Industry Bodies, Companies Annual Report, Government Agencies, Libraries and Local Councils and a large number of Paid Databases."

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