Virtual Reality Headset Market Global Trends, Size, Segments and Growth by Forecast to 2027 | Impact of COVID-19

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The global virtual reality headset market is growing rapidly, witnessing wide adoption across major industries. The ability of VR headsets is not limited to enabling 3D experience in gaming, music, movies, or traveling. They have also widely penetrated burgeoning industries such as defense and healthcare. In the military sector, VR headsets are used to improve mental and health training programs.

With the advances in technology and expertise, the market is projected to reach ascended levels in the next few years. According to Market Research Future (MRFR), the global Virtual Reality Headset Market is expected to garner significant traction by 2027, posting a whopping double-digit CAGR throughout the forecast period (2020 – 2027).

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Healthcare sector is an early adopter of virtual reality technology, using it as a diagnostic tool with other methods such as MRI scans to eliminate the further need for invasive procedures or surgery. Now, the sector also accounts for one of the early adaptors of VR headsets, using it for surgery simulation, phobia treatment, robotic surgery, and skills training.

Conversely, high costs associated with VR headsets due to the sophistication of hardware impede the growth of the market. Nevertheless, expected developments in related technologies are expected to support the market growth, bringing down the cost of the headsets and making them affordable for all.

Virtual Reality Headsets Market – Segments

The report is segmented into types, components, applications, and regions. The type segment is sub-segmented into handheld headsets, smartphone-enabled headsets, PC-connected headsets, and others. The component segment is sub-segmented into controllers, head motion tracking sensor, display screen, stereo sound system, a head-mounted display, and others.

The application segment is sub-segmented into games & entertainment, consumer electronics, healthcare sector, education, automobile, and others. The region segment is sub-segmented into Asia Pacific, North America, Europe, and the Rest-of-the-World.

Global VR Headsets Market – Regional Analysis

North America dominates the global virtual reality headsets market. Technological advancements and increasing uptake in the education and training sector are major factors driving the virtual reality headsets market size. Also, the growing investment in technologies and high demand by films, education system, and military to develop and improve visual experience fosters the virtual reality headsets market growth in the region. Moreover, early adoption of the latest cutting-edge VR technologies assures the region an edge over other regions.

Virtual Reality (VR) Headsets Market – Competitive Landscape

Highly competitive, the VR headsets market appears to be diversified due to the presence of a large number of players. These players invest heavily in R&D, global expansion, advanced technologies, and product launches to gain a competitive edge in the market.

Major Players:

Players leading the global VR headsets market include Samsung electronics Ltd. (South Korea), Sony Corporation (Japan), HTC Corporation (Taiwan), Google (US), Facebook (US), Microsoft Corporation (US), Oculus VR, LLC (US), Fove, Inc. (US), Avegant Corporation (US), and LG Electronics, Inc. (South Korea), and among others.

Industry/Innovation/ Related News:

Aug. 17, 2021 — Somerset NHS Foundation Trust announced its collaboration with Virti to introduce virtual reality training to improve learning amongst its junior doctors and medical students. The trust has introduced a VR headset and handheld controllers where users can be immersed in virtual operations to understand the skills they need to develop for real-life situations.

This type of learning is designed to complement the real-life training, wherein students need not attend the hospital, which has been vital during the pandemic. Also, VR simulations can be more impactful and memorable than traditional learning methods, as they are scalable, repeatable, and immersive.

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