Pune, India, April 18, 2022 (GLOBE NEWSWIRE) — The global virtual reality market size is expected to reach USD 84.09 billion by 2028, exhibiting a CAGR of 44.8% during the forecast period. The technological innovations in 5G technology and the adoption of immersive technologies can have a tremendous impact on the virtual reality market growth in the forthcoming years, states Fortune Business Insights, “Virtual Reality Market Size, 2021-2028.” The market size stood at USD 4.42 billion in 2020.
Key Development:
May 2020: Apple Inc. purchased a NextVR, a VR startup. The NestVR has extended its expertise in recording live events through virtual reality headsets.
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Report Scope & Segmentation
Report Coverage
Details
Forecast Period
2021-2028
Forecast Period 2021 to 2028 CAGR
44.8%
2028 Value Projection
USD 84.09 billion
Base Year
2021
Virtual Reality Market Size in 2020
USD 4.42 billion
Historical Data for
2017-2019
No. of Pages
140
Segments covered
By Component, Device Type, Industry, and Region
Virtual Reality Market Growth Drivers
Rising Demand for Virtual Training Across Industries to Drive the Market
Requirement of High Speed and Computation Power to Hamper the Market
There has been a rapid growth in the AR and VR gamers across the world, which expands the horizon for the market. The increased comfort levels of consumers in situational uses, such as VR gaming and VR calls, are among the factors, which suggest a positive outlook for VR technology in gaming. Game developers across emerging economies are also continually striving to enhance gamers’ experience by launching and rewriting codes for diverse console/platforms, such as PlayStation, Xbox, and Windows PC, incorporated into a …
