Virtual Reality Headset Market is predicted to rise at USD 59 Billion by 2028 at a CAGR of 28.8% during the forecast period.

Introduction of the Virtual Reality Headset Market Report

Virtual reality is a modelled experience that can be parallel to or completely distinct from the real world. Applications of virtual reality include entertainment, business, education, healthcare etc. VR headset is device which uses the algorithm and modelling to project the VR world, and with the recent advancements in the VR headset the demand from different sectors has raised, leading to the growth of the market.

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Market Dynamic

Key Drivers and Emerging Trends

Increasing incorporation of Artificial Intelligence and machine learning into VR and growing prominence of 3D and 4D technologies in the healthcare, manufacturing, and entertainment industry are forecast to strengthen the virtual reality headset market size. In addition, innovations in the field of virtual reality technology and growing applications for the automotive and military industries have fueled the market growth. Accelerating penetration of smartphones and the advantages of VR devices such as the immersive experience and accessibility to experience various sites will further pave the way for market.

Growing use of VR technology applications, such as medical training, industrial prototyping, and education, owing to the remarkable benefits offered by VR devices, such as the creation of a realistic world, and profound visualization will augment the market growth. Additionally, rising investments in the technology by enterprises and consumers attributed for the development of innovative devices to offer immersive entertainment experiences will offer enormous opportunities to the market. For instance, in 2020, Sanzaru, Inc., a U.S.-based video game development company, was acquired by Facebook LLC to explore the technological features of Oculus Studios to develop rich, VR-based content. However, high energy usage is one of the main reasons restraining the Virtual Reality Headset Market share.

Restraint in the Virtual Reality Headset Market

However, energy consumption is a factor which is expected to hamper the growth of the market.

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Product Type – Segment Analysis

Based on the product type, the standalone is witnessed to grow at a higher CAGR in the market over the forecast period. A standalone device is involved in offering high-quality experience at an affordable price. Its feature, the integration of mechanisms, including processing control, is driving the growth. The key players are involved in offering application-oriented devices with different features and price ranges. For instance, in December 2019, Facebook, Inc. introduced a hand-tracking feature in Oculus Quest VR standalone headset.

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Regional – Segment Analysis:

Based on the regional coverage, Asia-Pacific is expected to grow at a higher CAGR in the market over the forecast period. This is due to the rapid digitalization in the gaming sector. This can be attributed to the advent of 5G and policy support for VR progress from the government of China. The major companies in the region are widely utilizing VR technology for several purposes, thus contributing to the regional market growth. For instance, in January 2020, Virtuleap, a VR-based brain training firm, along with HTC Corporation, launched the Enhance VR brain training application in China to offer games designed primarily to train and assess different skills, such as, speed, motor skills, flexibility, and spatial audio awareness.

Top Market Players

Various notable players operating in the market, include, Carl Zeiss AG, Facebook Technologies, LLC (Oculus), Google LLC, HTC Corporation, LG Electronics, Microsoft, Razer Inc., Samsung Electronics Co., Ltd., Sony Corporation, Sixense Enterprises, among others. 

Key Developments:

• • In 2020, HP Development Company, L.P., a technology firm, entered into a strategic partnership with Microsoft Corporation and Valve to develop a new Reverb G2 VR headset.
  • In 2020, Microsoft officially announced the partnership with valve and HP, to launch a new VR headset in the market.

Segments covered in the Report:

The global virtual reality headset market has been segmented on the basis of product type, the market is segmented into standalone, smartphone-enabled, and standalone PC-connected. Based on outlook, the market is segmented into gaming, healthcare, media & entertainment, manufacturing, retail, education, telecommunications, and others. 

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Key questions answered in this research report:

• • At what pace is global virtual reality headset market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in virtual reality headset market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global virtual reality headset market?
  • Which product type generated maximum revenues in 2020 and identify the most promising product type during the forecast period?
  • What are the various product type areas of global virtual reality headset market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Report Coverage	Details
Market Base Year	2019
Market Forecast Period	2020-2027
Market Revenues (2028)	USD 59 Billion
Base Year & Forecast Units	Revenues (USD Million)
Market Segment	By Product Type, By Outlook, By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	Carl Zeiss AG, Facebook Technologies, LLC (Oculus), Google LLC, HTC Corporation, LG Electronics, Microsoft, Razer Inc., Samsung Electronics Co., Ltd., Sony Corporation, Sixense Enterprises, among others; a total of 10 companies covered.
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation

Global Virtual Reality Headset Market by Product Type

• • Standalone
  • Smartphone-enabled
  • Standalone PC-connected

Global Virtual Reality Headset Market by Outlook

• • Gaming
  • Healthcare
  • Media & Entertainment
  • Manufacturing
  • Retail
  • Education
  • Telecommunications
  • Others

Global Virtual Reality Headset Market by Region

• • North America Virtual Reality Headset Market (Option 1: As a part of the free 25% customization)
    • By Product Type
    • By Outlook
    • US Market All-Up
    • Canada Market All-Up
  • Europe Virtual Reality Headset Market (Option 2: As a part of the free 25% customization)
    • By Product Type
    • By Outlook
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up
  • Asia-Pacific Virtual Reality Headset Market (Option 3: As a part of the free 25% customization)
    • By Product Type
    • By Outlook
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up
  • RoW Virtual Reality Headset Market (Option 4: As a part of the free 25% customization)
    • By Product Type
    • By Outlook
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Major Players Operating in the Virtual Reality Headset (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Carl Zeiss AG
  • Facebook Technologies, LLC (Oculus)
  • Google LLC
  • HTC Corporation
  • LG Electronics
  • Microsoft
  • Razer Inc.
  • Samsung Electronics Co., Ltd.
  • Sony Corporation
  • Sixense Enterprises