USD 7.02 billion
Report ID: SQMIG45I2117 | Region: Global | Published Date: February, 2024 | Pages: 157 | Tables: 63 | Figures: 75
VR Headsets Market size was valued at USD 7.02 billion in 2021 and is poised to grow from USD 7.77 billion in 2022 to USD 13,087.53 billion by 2030, growing at a CAGR of 30.6% in the forecast period (2023-2030).
The global market for VR headsets is experiencing significant growth, driven by the widespread adoption of virtual reality technology in various sectors such as retail and manufacturing. Additionally, the increasing demand for gaming consoles is contributing to the industry's expansion. Virtual reality technology presents a vast range of applications, including medical training, industrial prototyping, and education, leading to growing investments from both consumers and enterprises and thereby boosting product demand in the foreseeable future. The virtual reality headset industry is witnessing noteworthy advancements, particularly in response to emerging trends in virtual reality technology.
There is a rising demand for VR-enabled Head-Mounted Devices (HMDs) in the entertainment and gaming sectors, prompting companies to offer innovative devices that provide unparalleled immersive experiences. To stay competitive and enhance their product offerings, key players in the market are continually integrating the latest technological advancements. The market is poised to benefit from the increasing social and collaborative nature of the virtual reality domain, coupled with the widespread penetration of smartphones. VR devices offer numerous advantages, such as creating realistic worlds, providing immersive experiences, facilitating profound visualization, and enabling users to experience different environments. As a result, these devices have witnessed high demand in various industries, especially during the Covid-19 pandemic, with applications in teaching and learning activities.
For example, the U.K. government used VR headsets to train trauma medical professionals, while NASA utilized VR technology to offer interactive behavioral health training and a Virtual Space Station (VSS). Moreover, the practical implementation of virtual reality technology across sectors like healthcare, real estate, education, automotive, and retail is driving efficiency and results, further contributing to the market's growth. Automotive industry giants like Jaguar Land Rover (JLR) and BMW have been leveraging virtual reality for years to enhance early engineering and design reviews, ensuring optimal object obscuration and visual design of their vehicles. With continuous technological advancements and increasing applications, the global VR headsets market is poised for promising growth in the coming years.
US VR Headsets Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 7.02 billion
Gaming and Entertainment
Gaming and Entertainment
To get more reports on the above market click here to Buy The Report
The Global VR Headsets Market is segmented by type, application, and region. Based on type, the market can be segmented into Tethered VR Headsets, Standalone VR Headsets, and Mobile VR Headsets. Based on application, the market is segmented into Gaming and Entertainment, Healthcare and Medical, Education and Training. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
VR Headsets Market Analysis by Type
By Type, the market can be segmented into Tethered VR Headsets, Standalone VR Headsets, and Mobile VR Headsets. Standalone VR Headsets have gained significant traction in the market due to their unique advantages. These headsets offer a compelling user experience without the need for external devices or connections, providing users with complete freedom of movement. They are self-contained, typically equipped with built-in processing power, sensors, and displays, making them portable and easy to set up. This convenience has appealed to a wide range of consumers, from tech enthusiasts to casual users, and even professionals seeking a hassle-free VR experience. While Standalone VR headsets have also experienced rapid growth in both consumer and enterprise markets. The standalone category has managed to bridge the gap between high-end tethered headsets and entry-level mobile headsets, providing a compelling balance between performance and affordability. With advancements in technology, these headsets have become more powerful and capable of delivering immersive experiences on par with some tethered headsets.
VR Headsets Market Analysis by Application
By application, the market is segmented into Gaming and Entertainment, Healthcare and Medical, Education and Training. The Gaming and Entertainment segment has long been the primary driver of the VR headsets market. Virtual reality gaming, in particular, offers an unparalleled level of immersion and interactivity, transforming the gaming experience for enthusiasts worldwide. VR gaming allows players to step into virtual worlds, interact with characters and objects, and experience gameplay in a whole new way.
The Education and Training segment has emerged as the fastest-growing segment in the VR headsets market. Virtual reality has revolutionized traditional education and training methods by providing immersive and experiential learning opportunities. VR-based training and educational experiences offer a higher level of retention and engagement compared to traditional methods. Hands-on simulations and interactive lessons make learning more effective and enjoyable.
To get detailed analysis on other segments, Request For Sample Report
North America is currently the dominating region in the global VR headsets market. The region's dominance can be attributed to several factors. Firstly, North America is home to some of the world's leading technology companies that are actively investing in virtual reality and developing cutting-edge VR headset products. These companies have strong R&D capabilities and resources, allowing them to stay at the forefront of VR technology advancements. Furthermore, the use of virtual reality technology in various other sectors, such as healthcare, education, and automotive, has gained traction in North America. The region's healthcare industry, in particular, has been leveraging VR headsets for medical training, simulation, and therapy, contributing to the market's growth.
Asia-Pacific is emerging as the fastest-growing region in the global VR headsets market. Several factors are propelling the rapid growth in this region. Firstly, the increasing disposable income and improving living standards in countries like China, India, South Korea, and Japan have led to a rising interest in advanced technologies, including virtual reality. Moreover, the adoption of VR technology in education and training is gaining momentum in Asia-Pacific. Educational institutions and corporations are utilizing VR headsets to enhance learning experiences and provide efficient training solutions.
To know more about the market opportunities by region and country, click here to
Buy The Complete Report
VR Headsets Market Drivers
Increasing adoption of virtual reality technology
VR Headsets Market Restraints
High initial cost
Speak to one of our ABIRAW analyst for your custom requirements before the purchase of this report
The global VR headsets market is characterized by intense rivalry among various companies striving to offer innovative and advanced VR headset products. These companies are continuously investing in research and development to stay at the forefront of VR technology advancements. They focus on integrating the latest technological features to provide users with unparalleled immersive experiences. Moreover, the market is witnessing various new entrants and established players expanding their product offerings to cater to the growing demand across diverse industries. The competition is driving the development of more cost-effective and feature-rich VR headsets to gain a competitive edge and capture a larger market share.
VR Headsets Market Top Player’s Company Profiles
VR Headsets Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to global VR Headsets market analysis, the global VR headsets market is witnessing significant growth, driven by the increasing adoption of virtual reality technology in gaming, entertainment, education, and other sectors. The largest and fastest-growing segment is the gaming industry, where consumers seek immersive experiences, propelling the demand for VR-enabled headsets. North America dominates the market, owing to the presence of leading technology companies and a robust gaming industry. The future scope of the market is promising, with continuous technological advancements and expanding applications in healthcare, real estate, and retail. The most driving factor is the quest for more realistic and interactive experiences, encouraging companies to invest in research and development to provide cutting-edge VR headsets that cater to the growing consumer demand.
|Market size value in 2021
|USD 7.02 billion
|Market size value in 2030
|USD 13,087.53 billion
|Forecast Unit (Value)
|North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Free report customization with purchase. Customization includes:-
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.
Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share
Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global VR Headsets Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global VR Headsets Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global VR Headsets Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global VR Headsets Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Want to customize this report? This report can be personalized according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time. We offer $1000 worth of FREE customization at the time of purchase.
"We have purchased recently a report from SkyQuest Technology, and we are happy to inform you that this report was so useful and practical for our team. Skyquest Team was very active and our queries were followed up completely.It was amazing. "
- Mr. Ali Zali, Commercial Director, ICIIC Iran.