Virtual Reality Headset market Size

Virtual Reality (VR) Headsets Market
Size and Share - Global Industry
Insights, Trends, 2017-2025
Virtual reality headset have a stereoscopic head-mounted display, which provides
realistic images separately for each eye, stereo sound, and sensors for head motion
tracing. Sensors used for head motion tracking are gyroscopes, accelerometers, and
structured light systems, among others. Moreover, virtual reality headsets also
comprises sensors for eye tracing and gaming controller.
Virtual reality helps enables users to interact with virtual environment with the help of
virtual reality content including movies, videos games or a previously recorded
360-degree VR environment. Virtual reality has various applications from aiding in
providing a virtual tour of the house to prospect buyers, to watching a football game in
immersive augmented reality or interacting with doctors remotely. This is expected to
aid in growth of virtual reality industry, in turn increasing demand for virtual reality
headset devices.
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Increasing demand for smartphones is one of the major driving factors for the
market growth
Major factors expected to propel growth of the global VR headsets market is
proliferation of mobile devices specifically smartphones, as most VR headsets rely on
the smartphone to display content and use various specially developed apps for the
same. For instance, Matterport VR Showcase is a virtual reality app compatible with
Samsung Galaxy series (Android Kitkat 4.4+) and Oculus Gear VR app needs to be
installed on the device. According to Coherent Market Insights analysis, share of
headset installed base of Samsung gear VR was around 16.3% globally, and the share
of mobile phone based VR headsets were about 87% globally, in 2016. Over 2.56 billion
smartphone users were reported worldwide in 2016. Hence, the increasing smartphone
sales are further increasing the growth of VR headsets market.
Proliferation of digital entertainment and media segment is expected to drive
growth of the global virtual reality headsets market
Increasing utilization of digital entertainment and digital media is expected to accelerate
global market growth. For example, film producers, professional sports leagues and
associations are increasingly adopting virtual reality technology, in order to increase
their customer base. For example, in 2015, the NBA Golden State Warriors
experimented with NextVR technology to stream their regular-session for individuals
using Samsung Gear headsets. Furthermore, music and adult entertainment segments
are also adopting virtual reality technology to produce 3D contents, which is expected to
increase their viewers’ base. Moreover, on-demand series providers are also adopting
virtual reality technology, in order to enhance consumer experience. For example, in
2016, HBO provides virtual reality 360 degree content for famous series, Game of
Thrones. Therefore, increasing demand for virtual reality technology is expected to
propel growth of virtual reality headsets market in digital entertainment and media
sector.
Increasing adoption of virtual reality headsets in military and defense sector is
expected to be another factor for growth of the market
Demand for virtual reality headsets in military and other scientific application is
increasing significantly and is a key factor expected to boost growth of the global virtual
reality headsets market. This is attributed to rising need for improvement of mental and
physical training program, which includes combat training, flight simulation, battlefield
simulation, and vehicle simulation among others. It aids in providing better training
experience to the soldiers. For instance, the United States Department of Defense
adopted virtual and augmented reality to reduce its training budget. According to the
U.S. Navy, it is expected to invest US$ 6 billion to US$ 6.12 billion per year for training
and simulation purpose from 2016 to 2021 for virtual reality. This is, in turn, expected to
aid in growth of the market over the forecast period.
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Virtual Reality Headsets Market Taxonomy
On the basis of headset type, the global virtual reality headsets market is segmented
into:
● Handheld
● Smartphones Enabled
● PC-connected
On the basis of component, the global virtual reality headsets market is segmented into:
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Head-mounted display
Stereo sound system
Head motion tracking sensor
Controllers
Display screen
On the basis of application, the global virtual reality headsets market is segmented into:
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Consumer Electronics
Healthcare
Games & Entertainment
Automobile
Education
Real Estate
Military
Virtual Reality Headsets Market: Regional Insights
The global virtual reality headsets market is segmented on the basis of regions into
North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa. The
North America region held the dominant position in the market in 2016 and is projected
to retain its dominance throughout the forecast period. The U.S. and Canada are major
economies driving the growth of virtual reality content creation market in this region.
High adoption of novel technologies such as virtual reality and prevalent of video
gaming culture in the region especially in the U.S. have driven the growth of virtual
reality content creation market. According to Coherent Market Insights analysis, the
U.S. virtual reality video market was valued approximately US$ 122.8 million and the
virtual reality gaming revenue was valued about US$ 276.3 million in 2016.
Virtual Reality Headsets Market: Competitive Background
Major players operating in the global virtual reality headsets market are Sony
Corporation, Samsung electronics Ltd., HTC Corporation, Google, Inc., Microsoft
Corporation, LG Electronics, Inc., Avegant Corporation, Facebook, Fove, Inc., and
Oculus VR, LLC.
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One of the key factor expected to boost growth of the global virtual reality headsets market is the demand for virtual reality headsets in military and other scientific applications.