Market OverviewVR has gained extensive recognition and adoption in the past few years. Major tech giant have led the market to evolve, building trust and awareness among the users. Many players are developing in this market with hopes to navigate it toward the mainstream adoption. The launch of commercial VR headsets is anticipated to fuel the market growth. Technological advancements in the sector are expected to create a plethora of solutions with varied capabilities, allowing consumers to experience utmost immersion. Making the experience more real functions as key driver for the market adoption and penetration.
The technology has often found its application persuasive, with cooperative video games or movie and TV series. Technology serves as a platform to plan the things that are otherwise expensive, too dangerous, or impractical to do.
Above 70% of the market has been dominated by the major technological giants. The ompanies are launching new products to differentiate themselves from other competitors. For instance, in June 2018, tech giant Oculus launched Oculus Go in UK, Europe, and Canada, after two months of its U.S. debut. The prices for standalone VR set started at EUR 199. Similarly, Sony Corporation patented VR headset which combats simulation sickness by eye-tracking in the same year. According to patent, headset would use the features to establish the “health threshold value” that could apparently tell when VR experience is becoming too intense for user and then act accordingly.
Segment OverviewBased on technology, semi-immersive technology is expected to grow at hgher rate owing to the investment by the companies to create better user experience. Rising investments and R&D, the software segment is anticipated to be on rise whereas hardware observed a steady rise.
The adoption of VR technology is likely to rise in the healthcare and education industry, thus boosting the market size. VR can be used for providing monitoring patients, training, and practicing surgeries. As per the research studies, the technology is anticipated to be the prospect of online learning in the coming future. For instance, c3rdFlix, education technology start-up, raised over USD 5 million from the Exfinity Vnetures to create live learning experience.
Regional OverviewU.S. giants such as Google, Facebook, and Apple remain to focus on their research and development activities for hardware and software to further stimulate the VR market share. The growth in thie region is largely attributed to the enlarged funding in start-up and new firms, making the market dynamic.
Asia-Pacific is anticipated to grow at higher rate, due to the presence of several emerging economies, along with the increasing acceptance of VR devices in the region. This in turn, is likely to encourage the industry players to invest in this region. China is anticipated to account for prominent share owing to the increasing adoption of technology in the country. Technology took the centre stage in the country’s tech scenario in 2016. Many VR start-ups are also rising in the country. For instance, Palapple is currently developing its VR products. Company also created project called VResidence that offers a number of VR real estate products, such as an online platform for the second-hand property.
Competitor overviewSome of the key industry players include Oculus, HTC, Google, Samsung, Lenovo and Sony. These major players dominate the market. However, with growing innovations in the technology, several of the companies are focusing on increasing their market presence by securing the new contracts and by tapping the new markets.
Investments by technology vendors are building an advancement in the area of display technology, this is likely to affect the vision of traditional methodology. With technology giants, such as Google, investing substantial amounts in the startups for development of VR, along with other noticeable players investing in R&D over this sector, the future of VR market is likely to be more competitive.
Key Players
- Google
- Microsoft
- Oculus VR
- Sony
- Samsung Electronics
- HTC
- EON Reality
- Vuzix
- Cyber Glove System
- Sensics
Market SegmentationBy Technology
- Nonimmersive
- Semi- and Fully Immersive
By Offering
By Application
- Consumer
- Gaming and Entertainment
- Sports
- Commercial
- Retail and Ecommerce
- Education and Training
- Travel and Tourism
- Advertising
- Enterprise
- Healthcare
- Surgery
- Patient Care Management
- Fitness Management
- Pharmacy Management
- Medical Training and Education
- Aerospace & Defence
- Others
By Geography
- North America
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- Japan
- China
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- UAE
- Rest of LAMEA
Research Process
Data Library Research are conducted by industry experts who offer insight on
industry structure, market segmentations technology assessment and competitive landscape (CL), and penetration, as well as on emerging trends. Their analysis is based on primary interviews (~ 80%) and secondary research (~ 20%) as well as years of professional expertise in their respective industries. Adding to this, by analysing historical trends and current market positions, our analysts predict where the market will be headed for the next five years. Furthermore, the varying trends of segment & categories geographically presented are also studied and the estimated based on the primary & secondary research.
In this particular report from the supply side Data Library Research has conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager
and SOFT) of the companies that active & prominent as well as the midsized organization
FIGURE 1: DLR RESEARH PROCESS
Primary Research
Extensive primary research was conducted to gain a deeper insight of the market and industry performance. The analysis is based on both primary and secondary research as well as years of professional expertise in the respective industries.
In addition to analysing current and historical trends, our analysts predict where the market is headed over the next five years.
It varies by segment for these categories geographically presented in the list of market tables. Speaking about this particular report we have conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and many more) of the major players active in the market.
Secondary Research
Secondary research was mainly used to collect and identify information useful for the extensive, technical, market-oriented, and Friend’s study of the Global Extra Neutral Alcohol. It was also used to obtain key information about major players, market classification and segmentation according to the industry trends, geographical markets, and developments related to the market and technology perspectives. For this study, analysts have gathered information from various credible sources, such as annual reports, sec filings, journals, white papers, SOFT presentations, and company web sites.
Market Size Estimation
Both, top-down and bottom-up approaches were used to estimate and validate the size of the Global market and to estimate the size of various other dependent submarkets in the overall Extra Neutral Alcohol. The key players in the market were identified through secondary research and their market contributions in the respective geographies were determined through primary and secondary research.
Forecast Model
