Virtual Reality Headsets Market 2030 By Component (Head-mounted display, Stereo sound system, Head motion tracking sensor, Controllers, and Display screen), Device Type, Product Type, Technology, Application Industry & Region - Partner & Customer Ecosystem (Product Services, Proposition & Key Features) Competitive Index & Regional Footprints by MarketDigits

Industry : Information Technology | Pages : 170 Pages | Published On : Nov 2023

Virtual Reality Headsets Market was valued USD 7.8 Billion in 2022 and projected to reach USD 61.6 Billion by 2030, growing at a CAGR of 29.6% during the forecast period of 2023-2030.

Major Players In Virtual Reality Headsets Market Include: Carl Zeiss AG, Facebook Technologies, LLC (Oculus), Google LLC, HTC Corporation, LG Electronics, Inc., Microsoft Corporation, Razer Inc., FOVE, Inc., Valve Corporation, HP Inc. and Others.

Market Overview

A virtual reality headset is a heads-up display (HUD) that provides users with the ability to engage with simulated environments and immerse themselves in a first-person perspective. These VR headsets substitute the user's real-world surroundings with virtual reality content, which can encompass anything from movies and games to prerecorded 360-degree VR environments, enabling users to freely pivot and explore, mirroring the natural world. The adoption of virtual reality (VR) headsets has expanded beyond entertainment into various professional applications, including medical training, architectural design, and remote collaboration. Advancements in VR technology, including higher resolutions, reduced latency, and more accessible prices, are making VR headsets more appealing to a broader audience

Growing Demand for Immersive Entertainment Experiences

The Global Virtual Reality Headsets Market is being propelled by the escalating demand for immersive entertainment experiences. Consumers across the globe are seeking more engaging and interactive forms of entertainment, ranging from gaming and interactive storytelling to virtual tourism and cinematic experiences. VR headsets provide an unparalleled level of immersion, allowing users to step into virtual worlds and experience entertainment in a deeply engaging and interactive manner. As the gaming industry continues to expand and diversify, the demand for VR gaming experiences is on the rise. Additionally, virtual reality has a significant role to play in the future of entertainment, offering new dimensions of storytelling and content consumption. This heightened demand for immersive entertainment is a substantial driver for the VR headset market's growth.

Market Dynamics

Drivers:

  • Growing Demand for Immersive Entertainment Experiences
  • Expanding Applications in Healthcare and Education
  • Technological Advancements in VR Headsets

Opportunities:

  • Content Creation and Development
  • Medical and Therapeutic Uses
  • Enterprise and Industrial Applications

Growing use in enterprise and industrial applications

The Global Virtual Reality Headsets Market presents a promising opportunity in the realm of enterprise and industrial applications. Businesses are increasingly recognizing the potential of VR headsets for training, design, and collaboration. VR technology can provide cost-effective and immersive training simulations for employees, reducing the risks and costs associated with real-world training scenarios. In the industrial sector, VR headsets can be used for remote maintenance, allowing technicians to receive real-time guidance and support from experts located elsewhere. This has the potential to streamline operations and reduce downtime. Additionally, VR is proving valuable in architectural and product design, enabling professionals to visualize and interact with their creations in a three-dimensional virtual space. As these applications expand, the market for VR headsets in enterprise and industry is poised for substantial growth.

The market for Virtual Reality Headsets is dominated by North America.

In 2022, the North American region dominated the Virtual Reality Headsets Market with the highest market share. The region is home to several key VR headset manufacturers and technology giants, including Oculus (a subsidiary of Meta Platforms, formerly Facebook), HTC, and Sony. The North American market benefits from a tech-savvy consumer base that embraces innovation and immersive experiences. It has a strong presence in gaming and entertainment applications, but it's also making strides in healthcare, education, and enterprise applications. With a well-established VR ecosystem and ongoing investments in research and development, North America continues to drive market growth.

The Asia-Pacific region is experiencing rapid growth in the Virtual Reality Headsets Market. Countries like China, Japan, and South Korea are driving this expansion. The region is a manufacturing powerhouse for VR headsets, with several local and global players producing cost-effective and innovative devices. Asia-Pacific has a strong presence in gaming and entertainment, with a massive consumer base. It is also witnessing increasing adoption in education and healthcare. With a growing middle-class population and an appetite for immersive experiences, the Asia-Pacific market holds substantial growth potential, both for consumer and enterprise applications.

Asia-Pacific (APAC) region is expected to witness the highest growth rate.  This growth can be attributed to several factors, including the surging appetite for immersive technologies in burgeoning economies, the infrastructural development in countries like China, South Korea, Japan, and India, the rapid economic growth in the region, advancements in technology, increasing awareness of satellite IoT among small and medium-sized organizations, and government initiatives aimed at promoting the adoption of advanced satellite IoT solutions. These factors collectively contribute to the rapid expansion of the satellite IoT market in the APAC region.

Notably, China is poised to capture the largest market share, given its prominent role as a major distributor of head-mounted VR devices and associated hardware. Furthermore, the ongoing advancements in 5G networks and related infrastructure within China are anticipated to fuel the market's growth trajectory. Conversely, India is expected to experience noteworthy development, facilitated by government-backed initiatives and substantial funding support.

Overall, while North America currently dominates the Virtual Reality Headsets market, Asia-Pacific, with countries like China and India, is expected to witness substantial growth and become a key player in the coming years.

The standalone segment is anticipated to hold the largest market share during the forecast period

In 2022, the standalone segment held the majority of revenue share, and it is expected to maintain its leading position from 2023 to 2030. Standalone devices provide users with a cost-effective means to enjoy high-quality immersive experiences. A standout characteristic of these devices is their consolidation of multiple functions, encompassing processing control and hardware, within a single, unified system. Market leaders in this space offer a range of application-specific devices, each boasting distinct features and price points, which contributes significantly to the segment's continuous growth.

Further, the smartphone-enabled products is poised to display a notable Compound Annual Growth Rate (CAGR) in the foreseeable future. This remarkable growth is attributable to the increasing adoption of sophisticated VR-capable smartphones that integrate 3D technology and Artificial Intelligence (AI).

Global Virtual Reality Headsets Market Report Scope:

Report

Details

Market size value in 2022

USD 7.8 Billion

Market size value in 2030

USD 61.6 Billion

CAGR (2023-2030)

29.6%

Forecast Period

2023–2030

Historic Data

2019

Forecast Units

Value (USD Million/USD Billion)

Segments Covered

Product Type, Application, End-device and Region

Geographies Covered

North America, Europe, Asia Pacific, and RoW

Segmentations Analysis of Virtual Reality Headsets Market: -

Major Segmentations Are Distributed as follows:

  • By End-device:
    • Low-end Device
    • Mid-range Device
    • High-end Device
  • By Product Type:
    • Standalone
    • Smartphone-enabled
    • Standalone PC-connected
  • By Application:
    • Gaming
    • Healthcare
    • Media & Entertainment
    • Manufacturing
    • Retail
    • Education
    • Telecommunications
    • Others
  • By Region
    • North America
      • US
      • Canada
    • Latin America
      • Brazil
      • Mexico
      • Argentina
      • Colombia
      • Chile
      • Peru
      • Rest of Latin America
    • Europe
      • UK
      • Germany
      • France
      • Italy
      • Spain
      • BENELUX
      • CIS & Russia
      • Nordics
      • Austria
      • Poland
      • Rest of Europe
    • Asia Pacific
      • China
      • Japan
      • India
      • South Korea
      • Thailand
      • Indonesia
      • Malaysia
      • Vietnam
      • Australia & New Zealand
      • Rest of Asia Pacific
    • Middle East & Africa
      • UAE
      • Saudi Arabia
      • South Africa
      • Nigeria
      • Egypt 
      • Israel
      • Turkey
      • Rest of Middle East & Africa

Recent Developments

  • In January 2023, Facebook Technologies, LLC (Oculus) has extended its collaboration with the NBA and WNBA, becoming the official virtual reality headset partner for both leagues. This enhanced partnership is anticipated to provide an immersive virtual reality platform that delivers a professional basketball experience.
  • In July 2021, Virtex unveiled its intentions to introduce a virtual reality stadium named "Virtex Stadium." This innovation allows fans to enjoy games alongside their friends while situated at the center of the field. The move aligns with the increasing appeal of e-sports and the improving affordability and capabilities of consumer-grade VR devices.

Reason to purchase this Virtual Reality Headsets Market Report:

  • Determine prospective investment areas based on a detailed trend analysis of the global Virtual Reality Headsets Market over the next years.
  • Gain an in-depth understanding of the underlying factors driving demand for different Virtual Reality Headsets Market segments in the top spending countries across the world and identify the opportunities each offers.
  • Strengthen your understanding of the market in terms of demand drivers, industry trends, and the latest technological developments, among others.
  • Identify the major channels that are driving the global Virtual Reality Headsets Market, providing a clear picture of future opportunities that can be tapped, resulting in revenue expansion.
  • Channelize resources by focusing on the ongoing programs that are being undertaken by the different countries within the global Virtual Reality Headsets Market.
  • Make correct business decisions based on a thorough analysis of the total competitive landscape of the sector with detailed profiles of the top Virtual Reality Headsets Market providers worldwide, including information about their products, alliances, recent contract wins, and financial analysis wherever available.

TOC

  1. Executive Summary
  2. Introduction
    1. Key Takeaways
    2. Report Description
    3. Market Scope & Definition
    4. Stakeholders
  3. Research Methodology
      1. Market size
      2. Key data points from primary sources
      3. Key data points from secondary sources
      4. List of primary sources
      5. List of secondary sources
  4. Market Overview
    1. Introduction
    2. Industry Segmentation
    3. Market Trends Analysis
    4. Major Funding & Investments
    5. Market Dynamics
      1. Drivers
      2. Restraints
      3. Opportunities
    6. Value Chain Analysis
  5. Virtual Reality Headsets Market, By Component
    1. Introduction
    2. Head-mounted display
    3. Stereo sound system
    4. Head motion tracking sensor
    5. Controllers
    6. Display screen
  6. Virtual Reality Headsets Market, By Device Type
    1. Introduction
    2. Low-end device
    3. Mid-range device
    4. High-end devicex
  7. Virtual Reality Headsets Market, By Product Type 
    1. Introduction
    2. Standalone
    3. Smartphone-enabled
    4. Standalone PC-connected
  8. Virtual Reality Headsets Market, By Technology 
    1. Introduction
    2. Non-immersive
    3. Semi-immersive
    4. Fully immersive
  9. Virtual Reality Headsets Market, By Application
    1. Gaming
    2. Healthcare
    3. Media & Entertainment
    4. Manufacturing
    5. Retail
    6. Education
    7. Telecommunications
    8. Others
  10. Virtual Reality Headsets Market, By Geography
    1. North America
      1. U.S.
      2. Canada
    2. Latin America
      1. Brazil
      2. Mexico
      3. Argentina
      4. Rest of Latin America
    3. Europe
      1. UK
      2. Germany
      3. France
      4. Italy
      5. Spain
      6. Russia
      7. Rest of Europe
    4. Asia Pacific
      1. China
      2. Japan
      3. India
      4. South Korea
      5. Rest of Asia Pacific
    5. Rest of the world (RoW)
      1. Middle East
        1. UAE
        2. Saudi Arabia
        3. Israel
      2. Africa
        1. South Africa
        2. Rest of Africa
  11. Competitive Landscapes
    1. Introduction
    2. Top Companies Ranking
    3. Market Share Analysis
      1. Competition Dashboard
      2. Market Share Analysis (2022)
      3. Emerging company case studies
    4. Company Profiles
      1. Alphabet Inc.
        1. Business Overview
        2. Product Portfolio
        3. Market Segments (Business Segment/Region)
        4. Sales Footprint
        5. Recent Developments
          1. New Product Launch
          2. Mergers & Acquisitions
          3. Collaborations, Partnerships & Agreements
          4. Rewards & Recognition
      2. Avegant Corporation
        1. Business Overview
        2. Product Portfolio
        3. Market Segments (Business Segment/Region)
        4. Sales Footprint
        5. Recent Developments
          1. New Product Launch
          2. Mergers & Acquisitions
          3. Collaborations, Partnerships & Agreements
          4. Rewards & Recognition
      3. Microsoft Corporation
        1. Business Overview
        2. Product Portfolio
        3. Market Segments (Business Segment/Region)
        4. Sales Footprint
        5. Recent Developments
          1. New Product Launch
          2. Mergers & Acquisitions
          3. Collaborations, Partnerships & Agreements
        6. Rewards & Recognition
      4. LG Electronics Inc.
        1. Business Overview
        2. Product Portfolio
        3. Market Segments (Business Segment/Region)
        4. Sales Footprint
        5. Recent Developments
          1. New Product Launch
          2. Mergers & Acquisitions
          3. Collaborations, Partnerships & Agreements
          4. Rewards & Recognition
      5. Sony Corporation
        1. Business Overview
        2. Product Portfolio
        3. Market Segments (Business Segment/Region)
        4. Sales Footprint
        5. Recent Developments
          1. New Product Launch
          2. Mergers & Acquisitions
          3. Collaborations, Partnerships & Agreements
          4. Rewards & Recognition
      6. HTC Corporation
        1. Business Overview
        2. Product Portfolio
        3. Market Segments (Business Segment/Region)
        4. Sales Footprint
        5. Recent Developments
          1. New Product Launch
          2. Mergers & Acquisitions
          3. Collaborations, Partnerships & Agreements
          4. Rewards & Recognition
      7. Magic Leap Inc.
        1. Business Overview
        2. Product Portfolio
        3. Market Segments (Business Segment/Region)
        4. Sales Footprint
        5. Recent Developments
          1. New Product Launch
          2. Mergers & Acquisitions
          3. Collaborations, Partnerships & Agreements
          4. Rewards & Recognition
      8. FOVE Inc.
        1. Business Overview
        2. Product Portfolio
        3. Market Segments (Business Segment/Region)
        4. Sales Footprint
        5. Recent Developments
          1. New Product Launch
          2. Mergers & Acquisitions
          3. Collaborations, Partnerships & Agreements
          4. Rewards & Recognition
      9. Facebook Inc.
        1. Business Overview
        2. Product Portfolio
        3. Market Segments (Business Segment/Region)
        4. Sales Footprint
        5. Recent Developments
          1. New Product Launch
          2. Mergers & Acquisitions
          3. Collaborations, Partnerships & Agreements
          4. Rewards & Recognition
      10. Samsung Electronics Co. Ltd
        1. Business Overview
        2. Product Portfolio
        3. Market Segments (Business Segment/Region)
        4. Sales Footprint
        5. Recent Developments
          1. New Product Launch
          2. Mergers & Acquisitions
          3. Collaborations, Partnerships & Agreements
          4. Rewards & Recognition
      11. Carl Zeiss AG
        1. Business Overview
        2. Product Portfolio
        3. Market Segments (Business Segment/Region)
        4. Sales Footprint
        5. Recent Developments
          1. New Product Launch
          2. Mergers & Acquisitions
          3. Collaborations, Partnerships & Agreements
          4. Rewards & Recognition
      12. Razer Inc.
        1. Business Overview
        2. Product Portfolio
        3. Market Segments (Business Segment/Region)
        4. Sales Footprint
        5. Recent Developments
          1. New Product Launch
          2. Mergers & Acquisitions
          3. Collaborations, Partnerships & Agreements
          4. Rewards & Recognition
      13. Valve Corporation
        1. Business Overview
        2. Product Portfolio
        3. Market Segments (Business Segment/Region)
        4. Sales Footprint
        5. Recent Developments
          1. New Product Launch
          2. Mergers & Acquisitions
          3. Collaborations, Partnerships & Agreements
          4. Rewards & Recognition
      14. HP Inc.
        1. Business Overview
        2. Product Portfolio
        3. Market Segments (Business Segment/Region)
        4. Sales Footprint
        5. Recent Developments
          1. New Product Launch
          2. Mergers & Acquisitions
          3. Collaborations, Partnerships & Agreements
          4. Rewards & Recognition

Table and Figures

Methodology:

At MarketDigits, we take immense pride in our 360° Research Methodology, which serves as the cornerstone of our research process. It represents a rigorous and comprehensive approach that goes beyond traditional methods to provide a holistic understanding of industry dynamics.

This methodology is built upon the integration of all seven research methodologies developed by MarketDigits, a renowned global research and consulting firm. By leveraging the collective strength of these methodologies, we are able to deliver a 360° view of the challenges, trends, and issues impacting your industry.

The first step of our 360° Research Methodology™ involves conducting extensive primary research, which involves gathering first-hand information through interviews, surveys, and interactions with industry experts, key stakeholders, and market participants. This approach enables us to gather valuable insights and perspectives directly from the source.

Secondary research is another crucial component of our methodology. It involves a deep dive into various data sources, including industry reports, market databases, scholarly articles, and regulatory documents. This helps us gather a wide range of information, validate findings, and provide a comprehensive understanding of the industry landscape.

Furthermore, our methodology incorporates technology-based research techniques, such as data mining, text analytics, and predictive modelling, to uncover hidden patterns, correlations, and trends within the data. This data-driven approach enhances the accuracy and reliability of our analysis, enabling us to make informed and actionable recommendations.

In addition, our analysts bring their industry expertise and domain knowledge to bear on the research process. Their deep understanding of market dynamics, emerging trends, and future prospects allows for insightful interpretation of the data and identification of strategic opportunities.

To ensure the highest level of quality and reliability, our research process undergoes rigorous validation and verification. This includes cross-referencing and triangulation of data from multiple sources, as well as peer reviews and expert consultations.

The result of our 360° Research Methodology is a comprehensive and robust research report that empowers you to make well-informed business decisions. It provides a panoramic view of the industry landscape, helping you navigate challenges, seize opportunities, and stay ahead of the competition.

In summary, our 360° Research Methodology is designed to provide you with a deep understanding of your industry by integrating various research techniques, industry expertise, and data-driven analysis. It ensures that every business decision you make is based on a well-triangulated and comprehensive research experience.

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