VR market to grow 28% a year

The global virtual reality headset market exhibited strong growth during 2015-2020, and is expected to grow at a compound annual rate of 28% from 2021 to 2026.

This is the key finding of a new report titled  “Virtual Reality Headset Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”.

A virtual reality headset is basically a head-mounted device that delivers virtual reality for the individual wearing the device. Virtual reality (VR) headsets are extensively used with video game but they are also widely used in many other applications, such as simulators and trainers.

They consist of a stereoscopic head-mounted display (that provides separate images for each eye), stereo sound, and head motion tracking sensors. Gaming represents one of the biggest application sectors for VR headsets. Apart from gaming, these devices are also widely being employed in military, consumer electronics, automobiles, real estate, healthcare, etc.

The increasing penetration of smartphones represents a major factor driving the demand of virtual reality headsets as most VR headsets depend upon a smartphone to display content and utilize numerous specially developed applications for the same. Moreover, virtual reality games are gaining popularity amongst millennials in both the developed and developing economies which has led to an increase in the demand for virtual reality applications.

Additionally, virtual reality is also extensively being used by the defense sector across various applications such as flight and battlefield simulations, medical training, vehicle simulation, and virtual boot camps. Furthermore, rising utilization of digital entertainment and digital media is also projected to drive the demand for VR headsets.

For instance, movie makers, professional sports leagues and associations, music industry, adult entertainment industry, etc. are also increasingly adopting virtual reality technology to drive their customer base. Apart from this, various manufacturers are incorporating additional features like buttons, NFC chips and Bluetooth connectivity in the assembled virtual reality headset kits.

Furthermore, the production of virtual reality headsets is economical for both the manufacturers and consumers, as the parts used in the manufacturing of these devices are available at low cost and their production does not require heavy machinery.

Key Questions Answered in This Report:

• How has the global virtual reality headset market performed so far and how will it perform in the coming years?
• What are the key regional markets in the global virtual reality headset industry?
• What has been the impact of COVID-19 on the global virtual reality headset industry?
• What is the breakup of the market based on the product type?
• What is the breakup of the market based on the material?
• What is the breakup of the market based on the end-user?
• What are the various stages in the value chain of the global virtual reality headset industry?
• What are the key driving factors and challenges in the global virtual reality headset industry?
• What is the structure of the global virtual reality headset industry and who are the key players?
• What is the degree of competition in the global virtual reality headset industry?
• What are the profit margins in the global virtual reality headset industry?

For more information about this report visit https://www.researchandmarkets.com/r/qsd4zq